This information is for Crest Capital's Vendor Partners to help get the most out of offering financing.
"80% of B2B purchases are financed. Do you only want to sell to the 20% paying cash? Offering our financing at the point of sale makes it easier for customers to buy from YOU.
If you don't offer financing on every potential sale, you’re not only leaving sales on the table, but you are leaving the door WIDE OPEN for your competition to one-up you."
Here are three tips to help you increase sales by offering financing:
Tip One: Have your salespeople ALWAYS present a monthly payment along with a price. They can use the payment quote tool to get 24-60 month payment estimates on any price:
Advantage: Saying "The price is $40,000 or $840 a month for 60 months" is always better.
Tip Two: If you don't have it already, we'll install a branded-to-you payment quote tool on your website for your customers to get self-service quotes and apply for financing.
Advantage: We can set this up for you quickly, and the results are powerful. You can even have "as low as $$ a month" on individual products.
Tip Three: Link to your payment tool as much as possible, and even printed on every written quote. Include a message on quotes like "we also offer financing – get monthly payment info at this link."
Advantage: Nobody is turned off by being offered a more manageable payment option. And a good number of customers will happily use it.
Think of an auto dealership that didn’t offer financing right there in the showroom. They’d starve, right? Because car buyers like the easy financing right there on the spot.
B2B sellers have been slower to implement financing than their B2C counterparts fully. But that’s changing fast –it’s 2021, and companies are far more careful about expenditures. They will naturally gravitate to sellers who offer an excellent payment option at the point of sale.
"My customers don't ask about financing, so I don't mention it"
This means your salesperson is not bringing a financing option up.
“All my customers just pay cash”
This means they don't realize 80% of customers will be financing through someone else, and offering it on the spot can close the sale now.
“This Customer said it is not in the budget this quarter or next 6 months.”
This means they are not offering the customer a way to spread the payments over time to fit a budget.
Offering financing is very easy. You still get paid in full right away.
We do all the work, and take all the risk. There’s also no cost to you.
We’ve been doing this for 30 years. We know financing increases sales.
Can we help with anything you’ve just read? Contact your Crest Capital rep, or call us at (800) 245-1213
(800) 245-1213
(888) 391-6728
