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Vendor Finance Schemes - Benefits To Your Sales Team - Quick Guide
| Guest post by: Al Shea |
Article Overview: This article offers a short and concise list of benefits to your sales team by you choosing to offer a finance option to your customers.
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Free Download - The Best Finance Comparison Sites And Reasons Why By Al Shea |
Vendor Finance Schemes - Benefits To Your Sales Team - Quick Guide
Overcomes Price Objections
Make a deal happen where a customer doesn't have sufficient cashflow or feels it is too expensive. Ask the customer what they CAN afford per month; you can then tailor a monthly package cost for them using a finance calculator supplied by your broker, perhaps by spreading it over a longer term.
Gives Many Alternative Closing Methods
Many companies are now leading with some form of monthly finance packages. By not offering leasing you are putting yourself at a disadvantage to your competition and risk losing the business to them far more easily.
Eliminates Discounts
Outright purchase usually commands easier discounts for customers to achieve. It is far more difficult to get a discount off a monthly or daily figure, hence helping you maintain your margins as a sales person.
Shortens The Decision Making Process
Very often a monthly figure can be agreed lower down the management chain, meaning documents can be signed off more often at point of sale, instead of going up through the ranks.
Your Invoices Are Settled Much Quicker via Leasing
Unlike a standard credit account where you will need to give at least 30 days - leasing lets you receive payment for your invoice shortly after delivery & installation of the equipment to the customer. Helping your businesses cashflow improve as well and your sales people meet their targets.
Easier To Upgrade
Attack your competitions customer base, tell them you can upgrade their equipment now. A lease package allows you to build in existing lease settlements from other suppliers letting the customer get rid of their old equipment today and replace it with new equipment immediately, instead of waiting for their existing lease to finish. Now you finally have an answer to all those customers telling you to 'call back in 3 months time' when their current lease finishes.
Allows The Customer To Obtain The Equipment Required As Opposed To What Can Be Afforded
Businesses can budget better when they know exactly what something costs per month.A goodleasing scheme allows you as the dealer to sell them the solution they require for their business rather than compromising and only buying a small amount of equipment because that's all they can currently afford to outlay from their cashflow as a lump sum.
Protection Of Your Customer Base
Selling viaa leasing scheme gives you complete retention of your future customer base. No customer can simply leave an Agreement - first they must make contact with the broker they wrote the finance deal through. At this pointthe brokercan find out why they are looking to end their relationship and put you back in front of them to upsell and keep them as your customer. If you sell equipment to them outright, you have no control over them in the future, and the customer doesn't need to contact you should they choose to change suppliers, giving you zero opportunity to rescue the relationship.
What is a Vendor Finance Scheme, and How is it Operated in the United Kingdom?
When buying a business you can ask for vendor finance
Equipment Suppliers - Can You Offer Finance Options To Your Customers?
Why Should You Offer a Finance Scheme To Your Customers? - Quick Guide
Want To Offer Customer Financing Programs? 3 Things You Need To Consider A Vendor Equipment Program
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Re: Finance is the primary requirement of business
- [quote="rauljoseph":36x8dadn]Finance is very important in a business. It is all about managing the business' money and other assets. Finance includes the study and analysis of processes, financial institutions, markets and instruments that are involved in the transfer of money or anything that has a monetary value among consumers, businesses and government.[/quote:36x8dadn]
Good point.
I'll just add that if I was going into business for myself and could only have one skill it would be Sales & Marketing. You need to be able to create customers first and foremost. Finance is more of a support function for entrepreneurs.
Finance is the primary requirement of business
- Finance is very important in a business. It is all about managing the business' money and other assets. Finance includes the study and analysis of processes, financial institutions, markets and instruments that are involved in the transfer of money or anything that has a monetary value among consumers, businesses and government.
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- Hi Evan,
I am noticing that many of the posts in the Sales/Marketing section deal with online marketing, SEM and and SEO and Affiliates. I was wondering if it might be a good idea to separate that section into two; 1) Online Sales and Marketing; 2) Traditional Sales and Marketing
Don't give up 40%!
- Congrats on this milestone Evan...
I agree with outsourcing any function that makes the business owner a Front-line worker as this is not best use of your time.
I also agree with Louis that 40% is too much to give up. 40% may work if you have surpassed your income goals from the website and after you pay the 40% you are still within your monthly income goals.
Would an RFP/RFI (Request For Proposal/Information) to companies like this Website Sales Team be a call you need to make?
Re: Online Sales and Marketing vs Traditional
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I am noticing that many of the posts in the Sales/Marketing section deal with online marketing, SEM and and SEO and Affiliates. I was wondering if it might be a good idea to separate that section into two; 1) Online Sales and Marketing; 2) Traditional Sales and Marketing[/quote:31w9r2iz]
I second the request...
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