Leads are coming in, your close rate is high and customers are happy. So why complicate matters by adding finance options to the mix?
It’s a common question from powerhouse sales teams, and there’s a simple answer: what are your opportunity costs? It’s great that you’re driving revenue, but could you be driving even more, and faster?
And that’s when you see their eyes light up, because we’re talking about ways to speed up sale and payment cycles, reduce costs of sale and strengthen relationships in a way that can boost loyalty and increase order value.
Offering customers the option to lease can achieve all these goals. Here’s how.
How leasing helps you increase order value
Your customer has an allocated budget. In many cases, their aspirations far exceed that budget. Which means their purchasing process is fraught with compromise. They’re expecting to have to settle for an option they can afford, even though it doesn’t tick all the boxes in the best way.
Leasing puts the ideal option within reach. Because they’re paying in smaller, regular amounts, they don’t need to find the entire budget at once – they can spread the cost over years. All of a sudden, cost objections and barriers evaporate, and your prospect can choose based on need rather than price. You receive the full amount from us upfront, having upsold something that will deliver a better result. Everyone’s a winner.
How leasing helps you speed up the sales cycle
Time can be a barrier preventing exceptional salespeople from selling more. The shorter the sales cycle, the more opportunity you have to speak to more leads.
Think about the time you spent going back and forth with prospects about spec and price. When you offer leasing, you remove roadblocks related to those issues (as discussed above). And that helps them make a decision more quickly.
And the leasing element of the sales process is surprisingly quick. You can get a finance decision in as little as 6 seconds, and all the paperwork is managed electronically (including e-signature). Thus, even though you’re introducing another step into the process, you can be a net winner because the financing offer helps speed up the decision.
How leasing helps you get paid faster
You know all that time spent chasing invoices? You eliminate that when customers lease the product. Once the prospect signs the financing paperwork, we give you the green light for delivery. When all relevant documentation has been completed and the customer confirms the delivery, Shire Leasing will pay your invoice in full.. Then we pay you in full by BACS.
We then manage the regular lease payments direct with the customer, so you have your money in the bank without ongoing admin.
How leasing boosts loyalty
When your customer chooses to lease the product, they’re signing up for regular interaction via their payments. Even though those payments are with us, not you, they’re in a mindset that makes the entire purchasing decision easier.
You therefore have a prime opportunity to build in value-added services, plus you can monitor when leases are coming up for renewal so you can be proactive about future sales. All this translates to a higher customer lifetime value.
So the question isn’t ‘What’s the point in offering leasing?’ Rather, it’s ‘What are you missing out on by not offering leasing?’