Vendor Equipment Financing Tips
Many equipment vendors have now realised that by positioning a finance option to their clients, they are not only making the product easier to sell, but more importantly, it becomes easier to buy.
Here are some further tips that will assist in the process of increasing equipment sales:-
* Include a monthly payment option with every proposal sent out to clients. Don't wait until the client has turned down the capital expenditure.
* Show the client how by paying for the system as they use it, they will see an immediate return on investment.
* Relate the monthly finance amount to monthly savings. Show how the equipment actually pays for itself.
* Reduce the cost to the lowest common denominator. Show the customer what the cost is per user per day.
* Avoid getting involved in a technical leasing discussion. You are there to sell the product. Call your finance partner whilst on site and they will be able to arrange something to fit the customer's needs. This flexibility may be the final piece of the jigsaw to make the sale
* Use the credit application form as a signed order. When they sign this form, in their mind they have bought the equipment.
* If you're a reseller offering the exact same product as your competitor, use another finance option to further differentiate yourselves from them.
* Work with a broker rather than a funder directly, they are able to offer the same rates, yet considerably more flexible options as they are not restricted to one underwriter.
You will never lose an order by offering clients a finance option, you are simply giving them another way of saying yes!
Mike Boss is the Managing Partner of The Boss Corporation, one of the UK's leading independent provider of IT finance. The Boss Corporation specialise in the provision of IT finance, including Software transactions. They also work with Software Houses and Resellers enabling them to offer a bespoke client financing option.