For most home improvement contractors, steady lead generation throughout the year is their top business challenge. Some NEED more quality leads.
So what changes can you make right now that will bring significant new business your way? You might be surprised, but the top contractors in your industry would reply the same way--“offer a choice of payment options to every customer”.
Contractors who integrate payment options into their sales process and marketing campaigns are seeing more leads than ever before. Payment options help homeowners do the projects they really want or need today. This can then be leveraged (car companies do this all the time) into a real competitive advantage for your business.
In order to get a consistent flow of leads and close more of them, you HAVE TO make sure your residential customers know you offer a choice of attractive payment options as well as value rather than the lowest price.. The choice should include a Same-As-Cash Loan and a low monthly payment loan. Then let your customer decide which one works best.
Integrate payment options into all your traditional and digital marketing campaigns. When responding to a prospect that wants to set-up a sales appointment, your scheduler should mention the availability of a choice of payment options. This will reduce price objections later. There are also opportunities for the sales rep to mention it when building rapport with the potential customer at the beginning of a sales call and when presenting the project estimate. After your customers have a great experience and get the project they want, it will strengthen your referral marketing effort. They will be more likely to talk to their friends and family about this great experience.
Besides a consistent flow of sales leads, integrating a choice of payment options into your sales process and marketing materials will help you accomplish the following goals:
- Maximize Close Rates
- Do bigger jobs
- Shorten the Sales Cycle
- Avoid the Discounting Trap
Many homeowners prefer to finance their home improvement projects. And they are looking for a contractor who offers a choice of payment options. Many of your competitors already do so. Do you? Think back to the last job you didn’t close. Maybe that customer needed a Same-As-Cash Loan or low monthly payment loan to complete the project of their dreams.
Cash buyers prefer Same-As-Cash because they like using the Bank’s money interest free. Monthly payments are attractive to homeowners who underestimate the cost of their project or claim they do not have enough money to do the project correctly.
According to MarketWatch, a survey by LightStream found that those planning home improvement projects in 2016 will spend an average of $6,239. That is up from $5,037 in 2015.
That is a significant investment for most anyone looking to spruce up their house, and you can serve almost every type of customer by offering the right choice of payment options.
Contact EnerBank USA if you are ready to get more leads and compete head-to-head with the top home improvement contractors in your area who are already offering payment options to their customers.