Affordability is a key factor in sales regardless of your product or service. Providing financing options often makes the difference between closing the sale and losing it. As shoppers browse your products and services, you must create affordable pathways to purchase. Consumer financing is the answer. You can turn browsers into buyers with payment plans in every industry and for virtually every product and service. Read on to learn how.
Draw Browsers In
Payment flexibility draws browsers in. Early in the buyer’s journey, consumers compare products, brands, and prices. Price is a considerable factor influencing purchase decisions, so retailers, cosmetic medical providers, home improvement businesses and service providers must find ways to meet shoppers where they are and provide realistic payment options that meet their needs.
Ensure shoppers know you offer consumer financing. Early in their interaction with your products or services, they should know their options and that they are affordable and accessible. Advertise financing availability early and often, keeping payment flexibility and affordability at the top of shoppers’ minds.
Consumers often must choose between an upfront cash payment and charging their purchase to a credit card. Both present challenges and significant drawbacks that prevent shoppers from completing the purchase. When you present consumer financing to browsers, you provide a realistic and affordable path to purchase that draws them in.
Stand Out from Competing Brands and Retailers or Other Merchants
Consumers have the privilege of choice with most of their purchases. Today’s savvy shoppers can access an endless digital shelf to compare products and brands online. Competing in this environment requires businesses to differentiate themselves meaningfully or risk losing sales.
Consumer financing is a compelling offering that helps you stand out from competing businesses. Shoppers want and need payment flexibility. When a big-ticket purchase is on the line, if the consumer can’t reasonably afford it, they will move on or go without. By providing affordable payment plans, you differentiate yourself from other merchants and show customers that they can bring home, install or choose your products or services today without compromising their budgets or financial commitments.
Lower Upfront Costs
Sticker shock will always present challenges to businesses, especially those with big-ticket goods and services. The thought of paying a large upfront sum is often enough to deter browsers from moving forward. When the only options are a cash payment or charging it to a high-interest credit card, many shoppers choose instead to walk away.
Consumer financing is the solution to mitigating sticker shock. Low monthly payment plans empower sellers to overcome the barriers to sales created by larger price tags. Payment plans break down bigger, intimidating price tags into smaller, affordable, scheduled installments. Most shoppers don’t have thousands of dollars to put toward their purchase; it’s much more reasonable, accessible, and appealing to make an affordable monthly payment of a couple hundred dollars for the same product or service. Because consumer financing allows shoppers to make their purchase decision right away, spreading payment over time, browsers happily convert to buyers as they benefit from lower upfront costs.
Make Purchase More Convenient and Accessible
With affordable, scheduled installments, shoppers can choose the product or service they want and bring it home on their timeline. Instead of postponing their purchase until they can save up for a cash payment, consumer financing makes purchases possible today.
Payment plans are an appealing option for shoppers of all demographics, but it’s important to remember that financing is the only realistic path to purchase for many consumers. By partnering with a firm that offers high approval rates and consistent terms, merchants make purchases more accessible and convenient for customers sticking to their budgets. Simple, straightforward financing guides casual shoppers to purchase.
Increase Buying Power
Payment plans allow customers to buy items or services that might not fit their current budget. When a considerable lump sum cost is broken down into smaller, more affordable installments, shoppers can maximize the impact of every dollar they spend. Customers can add additional products to their immediate purchase or upgrade their choices and because the increased costs are spread over time, those purchases are still affordable, perhaps increasing the monthly payment by just a few dollars.
Providing payment plans helps shoppers buy the items they want, including products previously out of their budget, which can positively impact average order values. Consumer financing options help buyers save and spend more effectively while increasing their buying power, leading to a positive customer experience.
When shoppers see how far their dollars can go with a payment plan, they’re more likely to take advantage of the purchasing power consumer financing provides and commit to their purchases.
Make Financing the Logical Choice
When you partner with the right financing firm, opting for an affordable, scheduled payment plan is the logical choice for the consumer. Browsers will be more inclined to buy when financing is simple, easy, and, most importantly, affordable. Offering financing through United Consumer Financial Services empowers consumers to commit to their purchase and make their purchase right away.
- Seamless Integration
UCFS provides consumer financing that seamlessly integrates into your sales process. From training to advertising materials to the point of sale, we help your teams communicate the exponential value of consumer financing and why it’s the logical choice for the client or customer.
- Paperless Application
Our financing application can be completed in minutes on a computer, tablet or phone. Applying for financing through UCFS is fast and straightforward, streamlining the process and helping approved consumers move quickly toward purchase.
- Quick Credit Decision
A credit decision is delivered in seconds, reducing unnecessary friction in the sales and purchase process.
- Autopay Options
With autopay options, consumers never miss a payment. They can choose financing at checkout. Once approved, they make their purchase and let our autopay services handle the rest.
Consumer financing provides payment flexibility that serves customers, bringing them to purchase faster. United Consumer Financial Services is proud to be the consumer financing choice for businesses across various industries. Providing affordable financing solutions for more than 45 years, we know what it takes to convert browsers to buyers – and long-term customers – with convenient, affordable consumer financing. Contact our team to learn more today.