Integrating Financing Into the Sales Process
Offer your B2B customers better payment options. It’s easy!
When a prospective customer is interested in what you’re selling, you don’t want there to be anything that keeps them from making a purchase. Adopting financing into your typical sales process and offering options upfront can help relieve customers’ concerns about payment. Not to mention, it can help you close a deal faster. Our partners not only sell more equipment, vehicles, and software; our vendor programs also increase margins, improve sales cycle times, and can even help close sales months later. Supported by the industry’s best team of professionals, our programs combine innovative finance tools and marketing support – all at no cost to you!
Let’s examine the seven steps…
In this first step, you will typically search for prospective customers and evaluate their needs. When you offer custom financing your prospecting pool will have expoentional growth because you are no longer bound by customers not able to afford your products. When you work with the right financing company the “objection” of price can be taken off the table. Something else to consider, when you offer custom financing, you can expand your marketing efforts, which equals growth!
Before you talk with a prospective customer you should understand what your finance company can offer your customers. Know their programs. Have your contacts name on speed-dial should a question come up. Any finance company worth their salt will be easy to reach when you need them most. In this step, make sure you’re adding the topic of financing to all sales presentations — because 90% of the time price is the biggest objection.
Now you’re ready to present financing to your customers. Whether this happens over the phone, over email, or face-to-face, you want to use this opportunity to develop a relationship. Put the benefits of your products and services at the forefront of the conversation so the prospect knows you want to help them. Know your customers objections.
By focusing on the intersection of value and needs, you can transform your presentation from a monologue into a two-way conversation. Talk about the payment options you can offer to help them make the purchase. When presenting don’t wait for your customer to bring up objections, handle them before they bring them up. If needed, at this point you can put your customer intouch with the finance company so they get direct answers to their financing questions. Let your finance company do the heavy lifting. You are the expert at “selling”. Your finance company is the expert at “financing”.
5) Share (how different payment options could work for the prospect’s budget)
Let them know you can work with your lending partner to customize the terms to meet their needs. Once you’ve introduced financing as a potential payment option, you can identify if the prospect is truly ready to buy.
6) Handling Objections
Now the challenging, yet critical step: listen to the prospect’s questions and respond to them. Here is where financing will help you address any monetary concerns. Simply by offering financing this stage is no longer difficult.
7) Closing and Follow Up
Finalize his or her choice of payment and create urgency to bring the deal to a close. Your job continues after closing. Establish regular follow up contact with the customer to nurture your relationship, encourage repeat business and gain referrals.
Ready to move more inventory?
Our proven vendor program makes it easy for your customers to get the fast funding they need. That means increased sales and greater profits for you. It can also result in repeat business and referrals. If you have questions contact our finance manager Dan Lund at 949.225.1718