Offering payment options to every customer on every sale helps you close more sales and increase your average ticket size.
Here are 3 reasons why offering retail finance is important:
1. Why it’s important to your Customers:
You are meeting their expectations. That’s because financing is an integral part of every shopper’s experience. Whether it’s at a big box store or the mall, retailers are giving their shoppers a way to buy. More importantly, it’s a way to buy more.
It increases their spending power. It’s important to understand that this is true in the home improvement industry, not just retail. The reason that homeowners do not have a well of cash to dive into to pay for that remodeling job at once.
Customers are counting on you to help provide the payment options they need to help get the job done. Your Customers have used financing in the past, which creates an expectation that they are going to be present with similar payment options going forward.
2. Why financing is important to your business
Financing helps close the deal if you use payment options as a way to sell, as opposed to using financing as a way for your Customers to pay for their project. It’s important to understand that there is a fundamental difference between those to concepts.
It makes your Sales Consultant’s job easier. When you offer financing, you’ll actually see your Customer’s shoulders relax because they know they know they don’t have to write a check or give their credit card today.
Financing helps you increase the scope of the job. For example, help your Customers upgrade to marble countertops or the entire house with new windows.
3. Most important of all: