High-Ticket Financing for Businesses: Unlocking Growth and Opportunities for Driving Sales
Published June 06, 2024
High-Ticket Financing for Businesses: Unlocking Growth and Opportunities for Driving Sales
Admin
Businesses that offer premium products and services can sometimes experience difficulty driving sales and enjoying steady revenue growth because customers can’t always afford to make high ticket purchases with cash in one full payment upfront.
Most customers can’t shoulder the immediate financial burden that comes with the cost of high ticket items and so the result is a customer who becomes very vocal about price objections and their first inclination is to walk away from the transaction without closing a sale. For some consumers, the reality of the actual cost of the product or service is only made apparent once they inquire about the price directly and for other customers, they are simply seeking out the best deal on the product or service you provide (along with other businesses in your area).
So what is the solution? How do you drive business growth, attract new customers while encouraging repeat business with existing customers, and stay one step ahead in today’s competitive market?
The answer is customer financing through Fund My Contract. The products or services in which you specialize are often significant purchases that represent large dollar figures. But when customers can’t afford to purchase products or services from your business, the result is a dramatic lack of revenue that puts undue strain on your ability to bring in an income and expand your business.
But when you offer financing options to potential customers it’s a strategic move that can increase sales, increase customer satisfaction, and helps your business stay competitive with revenue growth that lets you reach your business objectives on your timeframe, no one else’s.
How Customer Financing Drives Business Growth
Potential buyers who want to purchase high ticket items don’t always have the cash on hand to complete the purchase. So they balk at the cost or say they want to shop around for the best price and that can leave your business without any revenue.
Offering financing options to these potential customers eases the burden that comes with paying in full by allowing them to participate in one of the flexible payment plans that are available from the third-party lenders in the Fund My Contract network.
Financing is a strategic approach to business growth in that you are providing greater access to your product or service through one of the many financing programs you decide to offer in partnership with the lenders of your choice.
You work with our lending network to develop the financing programs that will resonate with your customer base featuring such options like low monthly installments, low interest rates for those customers who qualify, and reimbursement terms that are tailored to fit your customers’ buying decisions and financial conditions.
Once you’ve chosen the programs you wish to offer, incorporate this information as a part of the marketing strategies for your business. Make your customers aware that financing is available when they purchase from you. This will put them at ease before the purchasing process even begins and it offers upselling opportunities to present more products and deluxe service packages for larger purchase orders and invoices with higher dollar amounts than anticipated.
No need to lower your prices to get customers through the door, now you can offer financing options that let your business maintain higher profit margins, because that’s how you generate real revenue growth. It’s not accomplished using cheap sales strategies that come across as gimmicks instead of actual building blocks to significantly enhance your business and establish long term relationships with high value customers.
Enhancing Customer Satisfaction and Promoting Customer Loyalty
Businesses that offer exceptional customer service can become popular very quickly. Satisfied customers are all too eager and happy to tell other potential customers about their interactions with your business and this customer feedback is some of the strongest and most effective marketing strategies for ensuring repeat business in the future.
A positive customer experience can increase conversion rates as your business and the buying process as a whole earns strong feedback and reviews. Even premium products or services in high demand can benefit from enthusiastic customer reviews and this goes not only for the products or services themselves, but the business that has chosen to offer financing options that are both affordable and convenient.
Give your customers what they want and it will foster long term loyalty with immediate results. Using customer financing to help accomplish that goal will result in satisfied customers who have been given the opportunity to purchase the high ticket products they want without the hassle of paying all at once.
That’s why Fund My Contract has made it easy for customers to apply for the financing they need with our convenient online portal. In minutes, you can show your customers the financing options you offer and find out which ones they qualify for after entering some basic personal information on the application. There’s never been an easier, more innovative method for turning potential buyers into paying customers.
Higher Conversion Rates and Faster Payments
After your customer selects a financing program that suits them best and receives an approval for the funds, your business succeeds. That’s one of the key benefits of working with Fund My Contract’s network of third-party lenders – your business gets paid fast, in full, upfront, when the transaction is complete.
Your customer continues making installments as per the agreement on the payment plan, but your business has generated the revenue on the transaction at the full amount. The funds are transferred over to your business at the time of purchase.
No more waiting for the customer to decide to move forward with the sale because the cost is out of their budget – financing can make the cost fit into any customer’s monthly budget. No more waiting to put revenue into your business – financing through Fund My Contract means you get paid fast.
Unlock Growth and Opportunities for Success Today
It’s time to call Fund My Contract and discuss how customer financing can give your business a competitive edge in the marketplace by making high ticket items more affordable for more customers. Speak with one of our customer financing experts who can provide insights into all of the ways in which financing can create a positive experience for your customers and play a crucial role in the long-term success you’ve always envisioned.
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.
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.
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