Joseph Stone Capital on Benefits of Financing for Customers and Businesses
Businesses advantage from offering simple financing solutions to their clients: financing helps companies land larger contracts, close more sales and enhance their average transaction size. Offering a financing program can assist your business entice new customers and earn repeat business, as financing offer your clients a flexible and convenient way to pay for large purchase.
Customers do not always have the cash to pay upfront for big-ticket purchases or to cover the cost of key repair jobs when emergencies arise. By offering financing options to your customers, you offer them the flexibility to make regular loan payments toward their purchase, which offers them more purchasing power.
Both businesses and consumers benefit from financing programs, as financing offers customers more buying power and flexibility, and it helps businesses boost sales and enhance cash flow. Following are the benefits of financing:
- You can use your financing program as an efficient tool for up-selling customers, which can help you drive up your business’s average order value. To help enhance your transaction sizes, just show customers how a slight increase in their monthly loan payments can enable them to get the upgrades they want.
- Financing can help your business close more sales by offering customers the flexibility to make regular loan payments that work with their budget constraints. By introducing financing options at the starting of your sales conversations, you can eradicate the biggest barrier to closing a sale: the high purchase price. Customers realize financing because it gives them more buying power, allowing them to get exactly what they want without having to pay the full price up front.
- Joseph Stone Capital, a renowned finance firm can boost your business’s cash flow by using a third-party lender. Once the lender approves your customer’s loan, you will get the full purchase amount in your bank account within a few business days. Not only does that help your business maintain a healthy cash flow, it also guarantees your company does not assume any risk associated with financing. You can calm down knowing that you will always get paid, while we manage your customer’s regular payments. Even if your customer misses payments or defaults on the loan, you would not be held accountable for the money.
- Your financing program can persuade customers to return to your business for future purchases, building brand loyalty and assisting you increase your revenue. Once customers know that you offer financing and understand how it can benefit them, they are more likely to return to your business the next time they need to make a big purchase using financing, rather than going to competitors that may not offer the same financing options.
Joseph Stone Capital says that your financing program can offer great value to both your business and its customers, assisting you close more sales and helping your customers get exactly what they want, without blowing their budgets.