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Selling to Seniors: You Can Teach an Old Dog New Tricks

Guest post by: Michael O'Grady

Article Overview: Most seniors won’t even entertain the idea of “interest free” payment plans (better known as interest free financing.) The truth of it is that using one of these programs really can be to a seniors benefit.

Selling to Seniors: You Can Teach an Old Dog New Tricks

My grandmother and grandfather were survivors of the great depression, a result of the stock market crash that occurred in October of 1929. Countless jobs were lost and many people ended up living on the streets homeless. It was a time in our country’s history where resourcefulness was more than a way of life, it was a way of survival. You were creative with how you fed and clothed your family. It was no wonder that my grandparents always had a vegetable garden in their yard, a clothes line for the old rewashed clothes and a tremendous work ethic.

My grandparents lived this way their entire lives. The lessons they learned from living through this difficult time had conditioned them. Survivors of the great depression simply learned to do without. You would never purchase something for your home or yourself until you had it in cash to pay for it out right. There were no financing or credit card purchases. My experience with survivors of the great depression and senior citizens in the residential sales world has been that as well.

Most of these seniors won’t even entertain the idea of “interest free” payment plans (better known as interest free financing.) The truth of it is that using one of these programs really can be to a seniors benefit. Some of these people are on a fixed income with much of their monies tied up in stocks and other funds. If a person has to take on a major unplanned expense such as a new roof, a furnace or air-conditioning system it can really create cash flow issues.

Regardless of the initial reaction I get when I present the “interest free” option for payment I still proceed as follows. When I offer my options to the consumer I always break the price down into monthly payments. Sometimes it’s over a year, sometimes it’s over two years. It depends on the person’s individual budget and situation. I’ll explain that they can keep their money where it is and chip away at the interest free payment plan without creating a cash flow crisis. In most cases when dealing with a new higher efficient furnace or air-conditioning system the consumer will actually receive a positive cash flow because of the reduction in their gas and electric bill. Not everyone takes me up on the interest free payment option (there are still some folks very set in their ways) but I’ve seen a drastic increase (nearly 60%) over the past year.

Our current economic recession is no great depression. But it has affected many financially, senior citizens included. Many of these senior citizens did without during the great depression. As professional sales people I feel it’s our moral obligation to be a true professional. That means spending the extra time with senior citizens and having some patience with the education of interest free payment plans and their budget. These new tricks can really help those proud old dogs.

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Article Tags: contractor selling, interest free payment options, sales psychology, selling to homeowners, selling to seniors



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