Growing a contracting business takes hard work.
Recommending home improvement financing to every client is a great way to create satisfying, long-term relationships and outperform your competition.
Explaining to a homeowner how financing can help them afford a project can be a delicate matter, as some homeowners may be wary of taking on debt. However, there are several ways a contractor can explain the benefits of financing without sounding pushy or aggressive.
Emphasize affordability: One of the primary benefits of financing is that it allows homeowners to spread the cost of the project over time, making it more affordable and manageable. You can explain to homeowners that financing can help them make the necessary improvements to their home without putting undue strain on their finances.
Highlight the long-term savings: Many home improvement projects, such as installing energy-efficient windows or upgrading to a new HVAC system, can save homeowners money on their energy bills over time. By financing these projects, homeowners can start realizing those savings right away, even if they don’t have the full amount of cash upfront.
Offer flexible financing options: Some homeowners may be hesitant to take on debt with high-interest rates or inflexible repayment terms. As a contractor, you can offer financing options that are tailored to the homeowner’s needs and budget, such as low-interest rates, longer repayment periods, or no-interest financing for a certain period.
Provide examples: If you have completed similar projects for other homeowners who have used financing, you can provide them with examples of how it helped them achieve their home improvement goals without causing financial strain.Work with reputable lenders: Service Finance, Enerbank and MOMNT are an example of 3 really great prime lenders with fast technology solutions.To build trust with homeowners, it’s important to work with reputable lenders who offer fair and transparent financing options. You can explain to homeowners how you have vetted these lenders to ensure that they are trustworthy and will provide fair and honest financing options.
When explaining to a homeowner how financing can help them afford a project, it’s important to emphasize the affordability, long-term savings, and flexibility of financing options, as well as provide examples and work with reputable lenders. By approaching the topic with transparency and understanding, you can help homeowners make informed decisions about their home improvement projects.
The Industry Myth
Customers don’t want to use financing for a home improvement project.
For many customers, financing is a choice, not a necessity. In fact, wealthier clients often prefer financing home improvement projects.
Break from the Pack – Offer Financing as a Payment Option
Providing flexible and easy ways for your clients a way to pay for a project gives you a competitive edge over less customer-focused companies. Offer your customers more reasons to choose you – not your competition.
- Discuss financing options with every customer at every sales presentation
- Know what kind of financing your competition offers
- Use unique financing options to make customers feel preferred.
Marketing Payment Options Grow Your Client Base
Advertising that your company offers home improvement loan options is a surefire way to increase your pool of clients. Getting their attention, and understanding their needs is important to your business’s success. Promoting special financing and offering new customers ways to apply for it is one way to attract attention.
A Few Simple Steps to Success
- Illustrate special financing offerings with examples of monthly payment plans
- Market special financing everywhere you advertise your products and services – your website, direct mail, and sales flyers.
- Present special financing as an advantage to doing business with you instead of your competitors.
- Offer financing right from your BluePagesPro page
Special Financing Helps Close More Sales
Plant the seed by mentioning unique financing options at the beginning of every sales visit – before customers make a buying decision.
- Sell the convenience and spending power of monthly payments
- Educate your clients, and help them visualize taking a project from a simple to an absolute dream
- Use promotional periods to encourage your customers not to delay their purchases.
Ready to start helping more homeowners?
We can help you get enrolled with a reputable lender and then get you trained on how to offer these solutions right at the point of sale.
Why not get the ball rolling today? Link below