Innovative Ways to Use High Ticket Financing for Business Development

July 29, 2024

Published July 29, 2024

Innovative Ways to Use High Ticket Financing for Business Development

Admin

A smart strategy for business growth encompasses a variety of necessary components that work together to achieve success. A premium quality product or contracting service, carefully-considered marketing efforts, exceptional customer service – all of these are critical to formulating a road map for business growth that can navigate the variables that exist in a highly competitive marketplace.

This is particularly true for a business that specializes in big ticket sales. Potential buyers are seeking the products or services that your business provides, however, a high ticket sale is getting tougher to come by these days. A vast majority of consumers are less likely to have the cash on hand to convert on transactions for high value products, which is bad news for businesses known for selling high value products.

Customers may be looking to buy, but when all they’re doing is looking without buying that can put a business like yours at a disadvantage. Fewer sales, fewer clients, and fewer opportunities to generate revenue all equals slower business growth.

Why put the fate of your business at risk? Creating a successful business strategy that fosters high ticket sales and positive customer relationship management while reaching the widest possible target audience of potential high ticket clients is top priority for any business, big or small.

So what’s the solution for robust business growth? Consumer financing for high ticket sales through Fund My Contract. Maybe you’re familiar with the concept of financing, perhaps you’ve been curious how to best implement it as part of an effective game plan for business growth.

Growth is the primary goal and consumer financing can help you reach that objective on your schedule, with confidence.

How Consumer Financing Can Increase Your High Ticket Sales

When your business strategy includes consumer financing to high ticket customers, you’re putting more money into your business at profit margins that promote faster business growth and expansion opportunities. Selling high ticket items or services to your clientele requires a deft approach that taps into what your customers want most.

Meeting that demand can bring a wide range of benefits and working with our network of third-party lenders can help your business achieve greater success in the following ways:

Increased High Value Sales

Businesses that offer financing to their high ticket customers typically see an increase in the average value of sales. That’s because financing provides the customer with an alternative to paying for a high ticket product in one lump sum through a financing program that breaks up the transaction into monthly payments. When a customer knows that he or she can fit those payments into their monthly budget, the customer is not only more willing to proceed with the sale but is likely to spend more as a result. So instead of selling the cheapest product in your inventory, your customer is able to purchase the correct product for his or her needs.

More Successful Conversions

Paying for your product or service in full is a pain point that can result in more customers opting not to move forward with a sale and walking out the door. But when you can give the customer a choice of financing programs that make it easier to cover the costs over low monthly payments and flexible lending terms, you’ve made those costs more affordable and that leads to more successful conversions.

Generate Revenue Faster

Financing through Fund My Contract allows your business to get paid quicker and increase your available working capital. No more chasing after unpaid invoices and customers who always pay late. You’re not a collections agent, why assume that responsibility when you’re only trying to run a business. Financing allows you to get paid in full, upfront, at the close of a sale and keeps your cash flow moving smoothly, so you always have available working capital whenever you need it.

Gain the Competitive Advantage

It’s a tough marketplace with a lot of competition for new customers. Separate yourself from the crowd by offering financing programs that are affordable, manageable, and predictable and customers will find you. When you can give new and existing customers the opportunity to purchase the things they need from your business, you’re offering more than just a product or service – you’re offering customer satisfaction and that leads to repeat business and more leads on potential customers who have heard about your business through glowing customer reviews.

Maintain Healthy Profit Margins

The marketing strategies of failing businesses don’t always make sense, especially when owners start slashing prices to get more traffic. Slimming down profit margins is a recipe for disaster when business growth is your main goal and it only accelerates the inevitable for businesses that are about to shut their doors for good. Consumer financing is a better way to attract more customers instead of lowering profits.

How to Use Financing to Close More High Ticket Deals

High ticket financing can be a powerful ally for business growth. Consider the best ways for implementing this strategy to keep your goals within reach and turn potential buyers into paying customers…without having to pay in full all at once.

Stimulate Repeat Business with Promotional Offers

You’re always looking for new customers, but don’t forget about bringing your existing customers. Promotional, limited-time interest rates and terms for those who qualify are an ideal way to draw previous customers back to your business when they utilize the financing programs you offer. Build brand loyalty, boost customer satisfaction, and generate more revenue for your bottom line.

These are the customers who have already made a significant investment into your business with high ticket purchases. So you know this clientele because they’ve bought from you in the past. If they’re looking to buy again, now is their chance to get a great deal on financing programs that make another purchase even more affordable.

Get Your Sales Team Involved

If your business is new to financing, it’s absolutely critical that you train your sales team and employees on how to explain the financing programs that your business offers to potential high ticket clients who are interested in making a purchase. The sales process might require that one of your sales reps has to walk the client through all of the possible financing programs that are available and if your rep sounds like he or she doesn’t know what he’s talking about, the deal can easily fall through.

So always be sure that everyone in your business is familiar with the financing programs that are available and how they work. It could be the difference between closing a sale and missing out on valuable revenue.

Advertise Your Financing

Be sure to let your customers know that your business offers financing options at every opportunity. Mention it on your socials, include it in every email signature, place point of sale marketing materials in highly visible areas, get it printed on t-shirts that your employees wear, how you do it is up to you.

The more you advertise your financing, the more comfortable your customers will feel knowing they can patronize your business and get the products or services they need at an affordable cost without having to pay upfront in full.

Personalized Customer Service

Building relationships with new and existing clients allows you to understand them better. Knowing what they need before they even know and learning their spending habits gives you the ability to provide a level of customer service that feels more intimate and personal.

So when a customer comes calling, you can offer the financing program that fits that individual the best. Maybe one client wants more time to pay, another client prefers a lower interest rate. Best of all, you not only get to help that customer obtain the particular product or service he or she is seeking, but you can guide them towards the financing programs that fit their spending habits best. Your clients will view this form of personalized customer service as one of the many premium offerings your business has become known for in the industry and recommend your business to others.

Grow Your Business Faster with Fund My Contract

Working with Fund My Contract and our network of powerful third-party lenders means you have some of the most innovative financing programs on the market today. If you’re having difficulty generating revenue, missing sales projections, struggling with consistent cash flow, and just failing to reach your target audience, it’s time to partner with us.

Our one and only objective is help you grow your business with financing programs that can boost sales and slow the downward spiral of a business in decline by making it easier for your customers to convert sales. Affordability will significantly boost your sales on high ticket products or services and consumer financing is the key to making those high ticket sales more affordable.

Contact us today, let’s talk about all the ways in which consumer financing can change the future of your business and create a strategy for business growth that is practical and effective.

Growing Your Dental Practice in a Competitive Marketplace

Any business owner must understand the most effective methods for success. It’s no different for dental practitioners who are seeking out new ways to build a practice and achieve sustained growth.

admin

April 18, 2023

3 Important Aspects of Offering Financing for Consumers

Many businesses are evolving and offering their customers Point Of Sale (POS) financing for their purchases. This is advantageous to customers and lets them purchase items they otherwise couldn’t afford by making payments.

admin

May 8, 2023

Long Term Financing in Dental Offices

Let’s face it, dental work can be extremely expensive. When it comes to dental care most patients wait until something hurts before they make an appointment. They are willing to put off even preventive care

admin

May 8, 2023