How offering a regular payment option can help you increase sales
Customer Finance, sometimes also called Partner Finance, is rapidly becoming a key client offering in providing customers with the option to pay over time rather than having to find a single lump sum immediately. This is enabling SMEs to boost sales and improve customer access to their products.
Delivered as part of your corporate strategic offering or as a sales aid package, Customer Finance removes or reduces the upfront cash your customers need to commit to, making it much more likely that you will win their business.
Repayments are built around a fixed monthly payment for the usable lifetime of the asset. As the vendor, you can remove price objections by reducing the day one cost to a much lower monthly or quarterly payment. An additional advantage is that the finance agreement can qualify as revenue or “opex” spend, rather than a capital expense requiring “capex” budget approval.
There are other advantages of using finance both as a sales aid for your team and your customers:
Ability to close deals swiftly – customers will be able to invest in your products now rather than having to wait for new budgets or free up cash reserves and immediate access the benefits this will give them.
Better margins – spreading the cost in this way can reduce the discount you might normally need to give your customers for cash.
Prompt payment – as the vendor, you still receive the full amount on day one without having to wait.
Upselling opportunities – with monthly repayments spreading the cost of an investment, you may also be able to upsell to your customers, enabling them to get a solution that is best suited for them, rather than the solution they can immediately afford.
Customer retention – during the lifetime of the lease, you can help improve customer retention by upselling extra products, enabling them to keep up to date with the latest developments and technologies.
Let us deliver the benefits of a Customer Finance package
At Primary Asset Finance, we have access to a wide range of partners and funders, enabling us to search the market to find the best solution for you and your customers.
Our extensive customer portfolio sees us working with an array of technology vendors, resellers and distributors, software houses and resellers, manufacturers, re-fitters, telecoms, telematics, yellow goods, machinery and many many more “providers of goods”.
If you sell it, there’s a way we can help! Contact us to find out how.