4 Speedy Reasons Financing Accelerates Sales
🏁11 days faster.🏁 That’s a number every equipment dealer needs to know. Equipment deals that include financing options close 11 days faster on average compared to cash quotes for the same equipment. Here are 4 reasons why financing creates momentum that cash purchases don’t: Cash purchases are big financial decisions, triggering, deliberation and second-guessing. (How […]
Brokers: You have 24 hours. Most wait 72.
Quick: A buyer’s email arrives in your inbox. Their phone call hits your voicemail. Their referral lands in your lap. How fast do you reply? Think fast, it matters more than you think. 61% of equipment financing customers who don’t receive a substantive response within 72 hours of their initial inquiry begin exploring alternative lenders—even […]
Commercial Cleaning Equipment: A Great Fit for Financing
Today’s big questions: Are you highlighting the benefits of financing to your customers? Are you leading with a low monthly payment on every sale? Here’s why it matters: Commercial cleaning buyers are great fit for financing. Even if your customers are first-time business owners, work primarily in cash, or are shopping for less than $10K—or […]
How Financing Overcomes Price Objections
The hard facts: Equipment prices were already up an average 11% year-over-year across most categories—and that was before the oil and trade shocks of the last three weeks. And when prices rise, so do price objections from buyers. The good news: Sellers who frame their pitches around monthly payments avoid a similar spike in price objections. […]
First-Time Equipment Finance Customers Are an Overlooked Opportunity
Did you know 24% of small businesses have never used equipment financing of any kind? It’s not because they were declined. They simply don’t know financing is an option for businesses like theirs. Why it matters: The customer you educate is the customer you win. Let’s break it down… Many small-business owners assume financing is […]
Small-business demand is great news for brokers
Last week we got some very welcome news from the Equipment Leasing and Finance Association (ELFA), courtesy of Equipment Finance News: Equipment finance demand hits record high in January Total new business volume hit $11.6B New equipment finance demand reached a record high in January as new business volumes posted the strongest monthly dollar total […]
Financing Integrations Cut Cart Abandonment by 29%
Payment options at the point of sale changes buying behavior Want to stop shopping cart abandonment? Show payment options right there! Here’s an eye-opening stat: Equipment sellers who display monthly payment options directly in the shopping cart or checkout process experience 29% lower abandonment rates than those who show only full purchase prices. This is […]
Why Commercial Cleaning Companies Make Good Customers
Today’s big thought: Commercial cleaning companies don’t get the bank financing they deserve. Is this your opportunity to clean up? Let’s get into it: Commercial cleaning and janitorial service companies demonstrate 31% lower default rates than the small-business average. Yes, but: Most banks categorize them as “service businesses” without recognizing the essential, recession-resistant nature of […]
Deals Move Faster When the Process Does
As a broker, you know digital applications are faster. But how much faster? 32%. Our research partner, Sawbux Marketing, found that brokers who use fully digital application processes close equipment financing deals one-third faster than those still relying on paper documentation, faxes, or manual data entry. Why it matters: In a market where speed determines […]
Integrations Turn Browsers Into Buyers
Convert 31% more website visitors with embedded financing Today’s big thought: It’s not enough to offer simply financing. You have to integrate it. The stats bear this out: Equipment vendors with financing applications embedded directly into their product pages convert 31% more website visitors into qualified leads than sellers who mention “Financing available” without an […]