Convenience has become the norm. You don’t have to wait each week for your favorite TV show, you can binge watch it on Netflix. Instead of shopping for groceries and cooking a meal each night, you can instantly just grab a burger and fries down the road. You can jam to your favorite music on Spotify without waiting on radio commercials. And when our instant gratification is delayed… it’s not a pretty sight. That’s why you need to offer financing to increase business opportunity.
Because we’ve developed into a society that demands instant gratification, financing is a must.
UNDERSTANDING CUSTOMER FINANCING
When I first got married, my wife and I didn’t own a lot of stuff. My wife was eager to purchase furniture, decorations, kitchen supplies, cleaning equipment, flooring, landscaping, electronics, and anything else that can be found on Pinterest. The problem was… there was no way we could afford all of those things right away. But we sat down and reviewed our budget and realized we could make payments in order to buy the most important things we needed (or thought we needed).
Offering financing to your customers allows you to enroll them in affordable monthly payments instead of forcing them to pay all at once. This is exactly why offering customer financing will help you increase the amount and frequency of your sales.
You might as well reap the benefits of a society rooted in instant gratification. Give your customers the opportunity to make a purchase now, without overwhelming them with the total price.
OFFER FINANCING TO INCREASE BUSINESS OPPORTUNITY
Customer financing is the deal closer. As soon as someone expresses interest, it’s your job to land the sale. You’ve already spent money on advertising, marketing, and other outreach strategies to get your potential customers through your door (or you through the customer’s door). So here are three ways financing will increase sales:
Customers can purchase your product or service instantly.
When your customers sign up for financing, you can get started on their latest bathroom remodel the next day. Or you can let them drive away with their very own RV. If they go home or delay the purchase, there’s a chance your customers will talk themselves out of a sale.
Satisfied customers will become your best advocates.
When your customers have a positive buying experience, they’re more likely to refer their friends or family to your business. By offering financing options, you’re providing your customers the flexibility they need that will be best suited for their circumstances.
You can take advantage of any opportunity.
Now you don’t have to turn away your customers if they can’t pay for your product or services upfront. This translates to an increased target audience that will lead to more sales almost instantly.
NO RISK FOR YOU
As a business owner, you probably don’t have a lot of time to track payments and make sure you get paid. Luckily, when you work with a someone like Medallion Bank, you don’t have to worry about any of that. It’s the Bank’s job to review the customer’s profile and follow up with future payments while you focus on satisfying the next customer. Now you can relax knowing that you can offer financing to increase business opportunity, and the Bank’s got your back.