Published January 7, 2019 | Updated October 18, 2021
Selling is the process of solving problems. But one problem that is often overlooked is the ability to pay. If the customer can’t afford your solution, they’re not going to buy it. Unless you can show them how.
Research shows that commercial equipment sales teams using a payment option as a lead are six times more likely to close the sale. This is not a common tactic, however. Only about one in 10 commercial equipment sales teams lead with a finance conversation.
The data suggests two things. The first is that offering financing up front will help you close more sales. The second is that doing so will give you an edge up over the competition.
If it’s this powerful, why isn’t a financing offer more prevalent? We surveyed a group of equipment salespeople and learned the following:
- “Our customers often don’t ask for payments.” Most customers who need payments to make a purchase won’t bring it up on their own, typically because it is sometimes considered embarrassing to do so
- “I feel pushy offering payments.” Salespeople need to understand that this is something their customers actually want—it’s not an imposition
- “I don’t offer payments until I’m asked.” The truth is that many customers will NEVER ask because it makes them uncomfortable. Suggesting an affordable financing solution up front makes the whole process run more smoothly
It’s clear that a small tweak to your sales script can have a massive impact on your closing ratio. Offering financing is a very powerful sales tool that will dramatically increase your revenue.
At LEAF, we make your solutions easier to acquire with customized financing that solves your customers’ problems. By addressing your customer’s payment concerns quickly, they can concentrate on the value of your solution. Let us help you incorporate financing into your sales process and close more deals.