Ask The Experts | Best Financing Options for Customers
An HVAC contractor in New Hampshire asked:
What is the absolute best financing option for the customer? How much extra should we charge for financing?
One of the primary benefits of offering financing options is empowering your customers to turn their home improvement dreams into reality. By breaking down the cost into manageable monthly payments, you make high-quality services accessible to a broader range of clients. This not only increases the likelihood of securing projects but also fosters goodwill and customer loyalty.
When customers have financing options at their disposal, they are more likely to consider larger, more comprehensive projects. This means you can upsell and offer a broader range of services, further enhancing your revenue potential. Financing essentially removes the financial barriers that may have limited your customers’ choices.
Financing provides flexibility to your customers by allowing them to choose a payment plan that suits their budget. This convenience often tips the scales in your favor when customers are deciding on a home service provider. It shows that you understand and cater to their financial needs.
In a competitive home services market, offering financing can set you apart from the competition. It demonstrates your commitment to customer satisfaction and your willingness to go the extra mile to meet their needs.Financing options not only help you secure new customers but also strengthen your relationships with existing ones. Happy customers who have benefited from financing are more likely to refer your services to friends and family.
Drew Cameron is America’s Most Sought-After Sales & Marketing Strategy and Success Advisor to Home Services Contractors and president of both FLOW Odyssey (formerly HVAC Sellutions) and Energy Design Systems, LLC: the premier industry alliance providing leading-edge technology along with complementary marketing and sales consultative support, recruiting, training, and coaching for performance and profit enhancement of Home Services Contactors
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