Published June 22, 2023
Integrating Door Replacement Financing into Your Sales Strategy
The customer wants to replace their patio doors but is still on the fence about moving forward with the project. The cost on the estimate is fair but it’s a lot of money to pay at one time and it might not fit in the budget at the moment. So what happens? The customer decides to wait. Which means you don’t get paid. Now what?
As a contractor, you are always looking for new ways to increase sales and grow your business. Third-party financing programs can be very effective at lowering the barriers to conversion and generating more revenue. But simply offering financing as an affordable alternative to paying for that home improvement project in one lump sum isn’t enough.
It’s important to incorporate door replacement financing options as part of your sales strategy from the start to close the deal and give the customer no choice but to hire you for their door replacement project.
Consider the following ways to inform your customers about financing programs throughout the sales process.
Start Strong with Financing Options
As home improvement projects go, the cost of front door replacement or patio doors installation can come with a significant cost. Some customers may already be aware, others may suffer sticker shock when they learn the price. In either instance, the price of the job may give them pause.
But you can minimize the risk of not completing the sale by presenting the idea of financing from the start.
This helps to put the customer at ease knowing he or she doesn’t need to pay the full price all at once. When you introduce the concept of financing from the outset, the customer can pay closer attention to your sales pitch instead of feeling anxious or worried about how they’re going to fit this big expenditure into this month’s budget.
Affordable Monthly Payments
Once you’ve introduced the idea of door replacement financing, delve further into the benefits of the programs you offer. Customers may take particular interest in paying for the work in low monthly payments. Paying over time can make the cost more affordable as the customer isn’t faced with a hefty bill up front. Making payments on the cost in smaller increments is more comforting and the price for the work doesn’t seem daunting when presented in this scenario instead.
Paying for the cost of door replacement can be just another monthly bill similar to the cable bill or the phone bill. Simple, routine, and affordable in the monthly budget. The main difference — these payments will eventually end once the sum is paid in full.
Unlike the cable or phone bills which end only if and when you cancel those services. But you will still have a gorgeous new door on your home, professionally installed by an expert at the task and built to last.
Stress the Many Benefits of Financing
Explaining the benefits of door replacement are a natural part of the sales pitch. A new front door may be more energy efficient and save money in the long run.
Explaining the benefits of paying for that door replacement through third-party, long-term financing can be just as critical for closing that sale.
Paying for the work over monthly payments is one of the most appealing benefits that customers may relate to in this situation. Some customers may find the benefit of a low interest rate on that financing very appealing. Another customer may appreciate the flexibility of the terms that are available with the programs you offer.
With Fund My Contract, you can offer your customers a wide range of financing programs that cater to their unique needs and expectations.
Financing as an Effective Sales Tool
All of these can and should be considered as viable selling points when discussing the possibility of moving forward with the project.
If you stress these benefits throughout the sales pitch, you put the customer at ease and place less emphasis on price and shift focus on the details of the door replacement project itself and the customer can better visualize how those new doors will look in their home.
Working with third-party lenders through Fund My Contract in more ways than one. Contact us today to find out how your door replacement business can rely on financing as a sales tool for driving conversion rates up and generating more revenue.