Offering finance to your customers is a growing trend, and many businesses see an increase in sales, after integrating finance into their business operations. If you aren’t already considering offering finance to your customers, keep reading to find out why consumer finance is the best option for your business.
1. Increase Sales and Order Value
Offering finance addresses customers’ concerns about being unable or unwilling to pay a large sum all at once. A huge benefit of offering finance is the increase in sales and the boost in average order size. Studies have shown that offering finance to your customers can increase your sales by up to 40%.
2. Customer Satisfaction
Businesses with finance options in place can appear better equipped to satisfy customer’s needs compared to those who do not, and this can be an excellent selling point for drawing in new customers.
With products that carry a larger ticket price, many just simply cannot afford to part with their money in such a large sum. Offering finance can alleviate this stress and allow your customers to shop freely without worrying about costs.
3. Competitive Advantage
Offering financing options can be the deciding factor for customers when choosing to shop with you, making your products more accessible and attractive. It’s important to choose the right finance provider, with competitive rates and user-friendly application process. At Ideal4Finance, not only do we offer competitive rates, but we provide quality support and simple a application process with fast decisions.
4. Get Paid
Customer finance allows you the reassurance that you will receive the full payment amount, meaning you can focus on getting your project done. As the finance and repayment agreement is handled between the finance provider and the customer, you’ll never have to muddy your hands with messy customer payment issues.
5. Attract New Customers
One of the most alluring aspects of offering customer finance is the opportunity to expand your customer base. By offering financing, you break down that barrier and make your product more accessible. This is especially true for bigger ticket items like furniture, appliances, home improvements, or medical procedures. Financing allows customers to spread the cost of a purchase out over time, making it easier to fit it into their budget.
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