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Financing: Your new secret weapon

Three tips to help you counter common customer objections and close sales


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May 26, 2017 by canadiancontractor

This is a sponsored post by Financeit

Let’s start with a simple truth: All customers have objections. They’re a natural hurdle in the sales process and a nagging barrier when you’re on the verge of closing a deal. They can run the gamut but stem from issues surrounding cost, competition or bad timing for your customer.

The good news? Offering financing is a powerful tool for a contractor who has a prospective customer who’s sitting on the fence. Here are three ways to use financing to counter common objections and close strong with your customers…

Tip #1: Soften price tag shock with low monthly payments

The most common objection is the most obvious: The price tag is too high. Luckily, you have a secret weapon patiently waiting in your back pocket: a monthly payment plan. Suddenly, you’re in control of the conversation, because the price tag is no longer $15,000, it’s (for information purposes only) $199 per month. This simple reveal makes it much easier to sway the conversation away from price and direct it toward start dates.

Tip #2: Use financing to distinguish your business from the competition.

Remember, your ability to finance helps you frame your business as distinct. If a customer mentions that a competitor is cheaper, it’s a prime opportunity to mention that you can break down the price tag into affordable monthly payments. A competitor might have a lower ticket price, but you can ensure that a monthly rate of $199 (or whatever the instalment may be) is something the competition can’t offer. Plus, being an approved financing dealer solidifies your professional reputation, and sets you apart from cash-based competitors.

Tip #3: Bad timing for your customer? Offer a promotion.

“I can’t afford this right now” is a common objection, but it’s also a great opportunity to warm a customer to a  payment plan or to create a sense of urgency with a marketing promotion. Financeit offers a variety of powerful promo programs, including a 6-month “no payment, no interest” option that allows you to say, “Don’t pay for six months but decide today.”

Remember, all of these solutions are available at the click of a button with Financeit. With Financeit, you can arrange payment plans and promotions from any device, at any time. Financing isn’t just a payment option, it’s a simple, effective way to coax a customer off the fence and close bigger sales, faster.

To learn more about Financeit, visit www.financeit.io.

 

 


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canadiancontractor

Canadian Contractor is the independent voice of residential renovators and home builders everywhere in Canada.
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