Guiding the Path: Illuminating Financing for Generator and Battery Customers
Published January 12, 2024
Guiding the Path: Illuminating Financing for Generator and Battery Customers
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Companies that offer financing options for purchasing backup power generators and battery systems position themselves for increased customer satisfaction and repeat business. More homeowners are getting tired of spending time in the dark when the electricity goes out and that means spending money on portable generators, backup battery systems, and standby power sources.
But that doesn’t always mean they’re ready to buy when you are. In fact, most customers who need a battery backup or transfer switch don’t often close a sale. They might decide instead to think about the purchase first, often choosing to wait and explore their potential savings on the right system among many retailers in their area.
The result is typically a lost sale and your business fails to generate revenue. If this happens more often than not, the lights will go out on your business before long.
But Fund My Contract can help your business thrive and grow with generator and battery financing program options that will make it easier for your customer to convert that sale.
Making Generators and Batteries More Affordable
Your customers may have many objections to a purchase, but the most common reason why they opt not to complete a sale is cost. The customer wants the best deal, of course, but even if you sell your products at a fair price and offer professional installation and round-the-clock customer service, the customer may still want to “think about it”.
And when they walk out the door, chances are they won’t be coming back. It’s not because you or your staff did anything wrong, it’s because the customer can’t afford to pay for the generator or energy storage cells at that particular time.
Most customers who intend to buy a high ticket item don’t always have the cash on hand to purchase it. They may need to wait until the sale fits in with their budget, that could be weeks or even months from now and that puts your business in the unenviable position of waiting on that revenue. That’s if the customer decides to return at all. In the time it takes for the sale to fit into the customer’s budget, anything could happen – he or she changes their mind, they choose to buy from your competitor, or they simply decide to wait it out until the next power outage to realize they need a generator.
But with financing programs through Fund My Contract, you can offer your customers the ability to pay for the generators and batteries they need with low monthly payments. This makes it more affordable for homeowners to get the backup power they need and keep it within their budgets.
Best of all, your business generates revenue and sells more products and services to a wider range of customers. A happy customer is a loyal customer and one who recommends your business to friends, relatives, and colleagues who may also want to avoid power outages with a generator or battery storage system.
Financing as a Sustainable Plan for Growing Your Business
As a small business owner, you’re looking for every opportunity to compete in a crowded marketplace. Financing programs through Fund My Contract can give you that edge over the other retailers in your area who don’t offer financing to their customers.
Generators and backup power supplies are a seasonal purchase with most customers choosing to buy at the end of the summer or the start of the fall season, when the weather starts to act up in many regions of the country. Since these are the most popular times to buy, retailers will run promotional discounts to get buyers in the door as they prepare for the season ahead and the power outages that might come.
The trouble is, everyone is running those discounts and promotions and it can be tough to compete on price. Lowering your prices to match or beat the other guys’ often puts your business on shaky ground. This is not a sustainable way to keep your business afloat.
But the third-party network of lenders through Fund My Contract are ready to work with businesses of all sizes who want a competitive advantage by giving customers more choices when it comes to paying for the products and services they need.
Financing allows you to offer a fair price without cutting into your bottom line. When you can maintain profit margins that help your business grow instead of taking a loss with each sale, that’s how you compete in your area and bring customers through the door. Slashing your prices and eating into your costs is a recipe for disaster.
Meeting Your Customers' Needs with Financing
Customers want choices when it comes to purchasing goods and services. They don’t want to be told they can purchase just one type of generator or stick to just two brands of battery when they want to buy. They want generators and batteries from many different reputable brands and manufacturers whose products offer a range of features and specifications to fit their particular needs. They also want more choices when it comes to paying for these purchases at the time of sale.
Backup power for the home or office isn’t a one-size-fits-all proposition. Generators and batteries financing doesn’t have to be either.
It’s not with Fund My Contract. Our network of third-party lenders offer some of the most innovative and impressive financing programs in the industry today. They work with your business to customize the programs that you think will fit best for your customers. You know them best, so you decide which financing programs offer the best advantages for customers who want to buy what you offer but can’t pay in cash all in one lump sum.
Some customers may prefer low monthly payments, others may want to lock in a low promotional rate, while you may have customers who want flexible terms that allow them more time to pay.
It’s up to you and our network of lenders have plenty of smart and sensible options that can make your business the brightest spot in town for homeowners who want to keep the lights on when the electricity goes out.
Call Fund My Contract and Let's Talk
If the future of your business is starting to fade, contact Fund My Contract. Our financing experts are ready to discuss the challenges facing your business and offer smart financing solutions that can increase revenue, help you meet or exceed your sales projections and expand your business in the regions where your products and services are in higher demand.
Don’t let the lights go out on your business, Fund My Contract can guide the path to success when your prospects for growth seem the darkest. Customized financing programs can give your business that renewed outlook on the future and help you succeed.