Few things are as frustrating as hearing “no” from a prospect who’s eager to buy but concerned about paying upfront. At that pivotal moment in the sales cycle, being able to offer equipment financing can make all the difference.
Why don’t more companies offer financing to customers, then? Many business leaders hesitate because they feel like their sales teams aren’t skilled enough to handle the ins and outs of financing. What they don’t realize is that their company’s salespeople don’t have to be financing experts as long as they work with the right partner.
A solid finance partner doesn’t just offer financing to customers. Rather, it becomes an extension of your sales process and helps you close more deals. You get all the benefits without needing to handle the payment details. It’s a win-win for your company. You’ll lose fewer leads, and you’ll have the opportunity to widen your pool of prospects. In other words, you’ll make more revenue every quarter.
How to Offer Customer Financing When You’re Not the Expert
At PEAC Solutions, we’re comfortable acting as your behind-the-scenes finance partner. We’re ready to jump in when needed and tear down the obstacles that prevent potential buyers from saying “yes.” All you need to do is incorporate a few steps into your sales process to get the biggest advantage from the partnership.
1. Let prospects know that you offer financing.
Your prospects are likely familiar with financing because they’ve taken out personal loans to pay for things like houses or cars. But while they understand the concept, they might not know that financing is available for their business’s large equipment purchases. This is where early education in the sales process becomes important.
For instance, your sales team could talk about financing options when discussing price. That way, prospective buyers realize they don’t have to dip into their cash reserves or run up their credit to pay for your equipment. And those who want financing will be relieved to know that they won’t have to find it on their own. You have everything covered.
2. Prepare to explain financing in a general sense.
Again, you don’t have to go into detail when talking about financing. Just be ready to give prospects a basic overview of what they’ll experience when they work with you and your finance partner, PEAC Solutions. Let’s use our financing application process as an example. You could tell prospects that they’ll be able to apply online. If they’re approved, they can sign all the necessary documents outlining their obligations and arrange payments digitally.
But what happens when a prospect wants to know more? Our PEAC Solutions representatives are on call to talk them through the process. We value transparent, professional, and fast communication as much as you do. Our goal is to show your customers that we handle things promptly and courteously. Now that’s a great first impression!
3. Create a library of case studies to illustrate how other customers used financing.
Over time, you’ll encounter more customers who need financing. Don’t be afraid to compile stories of how and why they chose to finance their equipment purchases. You can then refer to those case studies during future sales calls and even internal sales team training events.
In the meantime, be sure to refer to our vast collection of helpful resources. The more your team learns about our approach to equipment financing, the easier it’ll be to talk about it with qualified leads.
You’re an expert at your business, and that’s enough. You don’t have to be an expert on financing, too. Just choose PEAC Solutions as your finance partner and let us help you close more business.