4 Ways to Incorporate Financing Options into Your Business

By Anne Redd, AccuLynx. 

How providing financing options to homeowners increases revenue and strengthens relationships with customers. 

Many homeowners want to invest in a new roof project, but are often hesitant due to the high cost. When customers feel like they cannot manage to pay for a roof repair or replacement, they put it off longer than they should. By providing them with financing and payment options, customers are more likely to make an investment in a project from your business. 

Not only that, but by offering financing options, contractors can gain up to 30% more revenue. With AccuLynx, you can offer your customers these features without any extra work on your end. AccuLynx has recently partnered with Acorn Finance, providing AccuLynx users an easy way to help their customers finance their roofing projects. 

Here are four best practices on how to approach financing and electronic payment options during your next roofing sale: 

Best Practice #1: Incorporate financing into your pitch 

When you’re pitching your company and its services, instead of just telling your customers how financing and electronic payment are features within your service, talk to them about how these features can benefit them. By leading with the benefits of financing, you can help homeowners understand how it will help them in the long run. 

For example, when you first bring up the idea of financing their roofing project to a customer, be sure to tell them how they would have access to multiple loan options. These options are broken down into manageable monthly payments without the need to go to the bank or through another service provider. This will help explain how their roofing job can be paid for over time instead of just one big payment, without any extra hassle on their end. By seeing how financing can make their roofing job more affordable, your customer might want to look into upgrades or decide to use more durable materials. 

Best Practice #2: Cut out the middleman 

Typically to apply for financing, contractors or homeowners would have to apply independently to different financing lenders. With AccuLynx, you have access to AccuFi, a simple way to offer your customers financing without having to go to a bank or find a lender. AccuFi cuts out the middleman so you can provide a way for your customers to apply for financing right from the job estimate. 

For example, you can bring up financing and how easy it is to do right from the job estimate. Let your customers know that the application process will take under a minute and without any effect on their credit score. From there, they receive competitive loan options that they can choose from, and funds will be deposited into their accounts quickly after providing lender documentation. 

Best Practice #3: Offer options 

Customers like options, especially when it comes to paying for a big project. Providing flexible payment options to your customers can help you stand out from competitors and win more jobs without any extra charge or paperwork for your staff. 

With AccuLynx’s AccuPay, you can provide multiple options for how your customers can pay for their jobs, including credit cards, debit cards and e-checks. They can even pay online, over the phone or in-person, depending on what is most convenient for them at the time. The process is secure and done through one platform so that there won’t be any transitioning between different systems or reentering of information for you. 

Best Practice #4: Invest in a CRM 

A customer relationship management (CRM) system helps you manage and streamline many areas of your roofing business from start to finish, including how you receive and track payments. Additionally, you can easily track what is happening with a loan by receiving an automated message once your customer is approved and viewing the status right from the main AccuLynx navigation. You can also view a summary of all financing activity in the company and refine the view with filters, such as application date, sales representative and job status. 

Start using financing to win more sales 

Financing helps not only the homeowner but you as well. When customers have more options for funding a roofing project, there will be less possibility of a delay in receiving a payment. By investing in a CRM such as AccuLynx, you won’t have to worry about going through separate companies to offer such a benefit; it all can be done right from your AccuLynx dashboard. Learn more about AccuLynx by setting up a quick demo. 

Learn more about AccuLynx by seeing a Demo or visit www.acculynx.com. 

Original article source: AccuLynx