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Mention This 3 Times to Close More Deals

Posted February 11, 2020 by EnerBank USA

payment options

Yours is a competitive marketplace — homeowners have plenty of choices for their home improvement needs, and any way you can set yourself apart can mean getting the edge in that crowded field — which can mean the difference between meeting your sales goals and falling short for the month. One important way you can close more deals is by taking a smart, strategic approach to making sure money isn’t a roadblock for your potential clients.

The data is very clear: offering payment options can significantly improve your chances of landing the project. Not only that, but that same strategy can help grow your average job size, eliminate the need to use discounting as a closing tactic, and actually help your company have “stickiness” by reducing cancellations.

You may already be using payment options as part of your business plan, but it’s important to make sure you’re also using best practices, such as knowing when to talk about payment options. Here are three important points in your sales cycle to make sure you’re bringing up the subject:

  • In your marketing and advertising. Right from the get-go, leads who are aware that you offer payment options are likely to be good leads and more likely to convert. Be sure to include a reference to two payment options in all your marketing materials: showroom signs, flyers, billboards, on your trucks, in your company’s social posts, on web banners, and clearly shown on your website. Savvy consumers will visit your website before even making that first call, so if your site indicates that payment won’t be a problem, you’ll see more people making that phone call to you.
  • Setting the appointment. When your office admin first sets the appointment with a customer to assess the job or go over the estimates in advance of closing the sale, it’s a solid opportunity to talk about your payment options and keep planting and nurturing that seed. Mention your payment options, including a same-as-cash loan and a low monthly payment loan. You might say something like, “When your sales rep is in your home, please don’t forget to ask them about our special 12-month same-as-cash promotion.” Mentioning it on the appointment-set call will make the idea more familiar when it’s brought up again in the home.
  • At the sales appointment. You’re in the client’s home, there’s lots to talk about…might as well dispel any concerns about cost by offering payment options right off the bat. Start with a straightforward approach such as, “Before we begin today, let me tell you about two simple payment options we offer — we have a same-as-cash promotion that lets you pay nothing out of pocket for up to twelve months, and a nice low interest, low monthly payment option. Here’s a flyer with details. Now, let’s talk about this project.” An approach like this removes price from the equation right at the beginning, shifting the customer’s focus to value. Now they can think about the job they really want to get, instead of worrying about how they’re going to pay for the work. Once you get to discussing the actual pricing for the job, any objections about price have already been overcome because you’ve addressed the idea of easy payment.

EnerBank USA® has specialized in home improvement loans since 2002, offering a variety of loan products that can meet the needs of different types of customers. Your clients can easily apply for EnerBank loans using one of three quick paperless methods: the Mobile Loan App, the Online Loan Application, or Loan-by-Phone. Once a customer’s concern over how to pay for the job is alleviated, they can focus on your expertise and customer service, and the excitement of getting the work done that they want without having to wait. On top of that, when money is less of a concern because of payment options, the data shows that you’re more likely to sell a bigger job, perhaps with upgraded materials.

Many contractors like you have seen great success by following this outline. “Offering EnerBank payment options is part of our normal sales routine,” said Chris Boatright of CertaPro. “I strongly encourage implementing payment options into your sales routine… it will without a doubt increase your average job size, you’ll see greater satisfaction from your customers, and overall it’ll better your business.”

If you’re ready to take the objection to a sale out of your equation, boost your close rate, and improve cash flow fill out the form on this page and a member of our team will reach out shortly!

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