You’ve dazzled the homeowner with designs and samples and proven you’re the best contractor for the job. They’re completely sold…but then comes the money talk. We’ve all seen a customer get sticker shock, and while you can’t prevent it, there’s one major tool that can help you close the sale: financing.
Offering your customers financing puts their dream project within reach, and with several financing provider options designed with contractors in mind, adding financing to your sales toolbelt is also within reach for your business.
While you don’t have to be a big-time car dealership to offer financing, you can steal some plays for their book to use it to close the deal. Here are three tried and true ways care sales pros land the sale with financing.
Play #1: They don't throw out one big number.
Which sounds better--$28,000 or $467 a month? Car salespeople know that landing the big sale means the price has to be easy to swallow. That’s why they’re infamous for asking what kind of monthly payment you’re comfortable with, then working to get you to that point regardless of the final sale price.
Helping homeowners see that their project can be done through more manageable payments instead of a large lump sum is incredibly helpful. But beware: consumers are becoming more and more savvy, meaning they're onto a lot of the tactics that give car sales pros a bad name. While throwing out a monthly payment number at the start is effective, be sure they still understand the BIG number before they agree, and make sure that number is the full-package (or as close to the full package as you can get).
Utilize your digital estimate to provide transparency into the components of the price. This is why so many homeowners are very receptive to a fully transparent proposal approach with line items. Transparency can actually help you close the deal.
Play #2: They have a follow-up process.
Watching a prospective sale walk away is disappointing, but it's less problematic for top salespeople who know the art of a good follow-up. This process typically entails three key things:
Don't get to Yes on the first try?
Check out these free scripts and step-by-step guide from One Click Contractor
and our friends at Hatch to create a killer rehash strategy.
Play #3: They know service and value can bring in top sales prices.
When you trust a car salesperson and dealership, you’re more willing to spend for upsells like additional features, warranties, and services. The same goes for home improvement pros.
Your entire sales process should be built upon building trust and establishing yourself as an expert, with a polished, professional presentation the cherry on top of the experience. Keeping them engaged and wowing them with your expertise and personalized visuals (and not to mention your tech savvy) make it easy to get to the yes even with top-dollar prices. Paul Trautmann, a home improvement pro who has seen dramatic increases in business since adopting a virtual-first sales approach, says he rarely offers a discount to land the sale. He doesn’t have to--and neither should you when you put your best foot forward!
Ready to use financing to close more sales?
Schedule a demo with a One Click Contractor consultant to see how easy
it is to offer financing and streamline your sales system.