As businesses grow and expand, owners are learning to use their money more carefully, stretching the dollar as far as possible. While this is indeed relevant to all business environments, it is especially true when it comes to equipment purchases and the significant costs associated with such large acquisitions. As options are more readily available businesses are at a disadvantage if they are not offering Equipment Financing. In order to Increase Equipment Sales it is important to create partnerships that provide alternatives as a means of keeping customers happy. Offer Financing as a strategic way to increase value to your customers.
Consumers are routinely seeking alternatives in financing expensive equipment, thus businesses selling equipment can reap massive benefits through developing strategic partnerships with financial institutions as a means of providing sought-after alternatives to customers.
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Why not get ahead of the competition and offer financing so customers have a solution to easily acquire the equipment they need to grow their business? A recent study has shown that close to thirty-percent of equipment sales are financed through partnerships of manufacturers or vendors and financial organizations.
There are several benefits associated with offering financing to customers.
- Customer Retention – Having the option to offer customers financing increases customer satisfaction and provides them options that perhaps were not readily available elsewhere. You can also structure the financing to incentivize them to come back to you when they upgrade or replace the old model.
- Incremental Income – In addition to finance options increasing the likelihood of making a sale, it also generates additional income to business through interest income as well as selling the equipment above book value. By offering financing you are giving the customer more buying power, this allows your sales reps to easier close the sale and up sell them on additional add ons.
- Provide Increased Value – As an equipment supplier, you already provide a solution to your customers and by providing a financial solution for them, you provide an increased value in service.
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By making the decision to form a strategic partnership with a finance company you not only increase sales and revenue potential but also add extreme value to your customer service.
When you partner with a finance company such as BNC Finance, you will have choices to offer consumers that are ready to buy the equipment that you are selling. Why not provide a service that both you and your customers can benefit from?
A couple programs available through BNC Finance include:
- Online Application: A finance application can easily be incorporated on your company website providing customers the convenience of applying in advance from their computer or smartphone.
- Deferred Payment Program: Designed to make it easier for your clients to do business with you and not your competitors, this program allows you to offer zero-down financing and $100 deferred payments for the first two months. Not only does this program allow your customers to get a head start on productivity, but it also enables them to start making money with the equipment before they start making payments.
Partnering with a finance company creates ways for you to acquire more customers and also provides you with new services that you can market.
BNC Finance offers a variety of options and financial products and because of their versatility; they can easily customize a plan that best suits your company. Contact a consultant at BNC Finance today.
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