Good financing experiences encourage return visits

For most successful equipment sellers, one-time transactions aren’t enough—their real growth comes from repeat business.

Why it matters: Financing can be the key to both 1) landing the first sale and 2) nurturing the ongoing customer relationship.

What surveys tell us:

• 84% of small businesses say they are more likely to return to an equipment seller if they had a positive financing experience.
• Customers who finance their first purchase are 2.4X more likely to return for future equipment needs.
• Equipment sellers who offer financing see a higher lifetime value per customer, as businesses often return to upgrade or expand their equipment. 

What this means for you: Here’s how you can use financing in tandem with other loyalty efforts to build long-term customer relationships:

1. Offer financing on the very first purchase so customers know your products are affordable from the get-go.
2. Offer trade-in/upgrade programs so customers are incentivized to return for new equipment.
3. Emphasize personalized customer service on every interaction. By developing deeper insight into each customer’s needs, you can suggest their ideal equipment solution—and since you already have a financing option with affordable monthly terms in play, you can eliminate price as an obstacle at the start of the discussion.
4. Work with a reliable financing partner who delivers consistent approvals to qualified customers, and whose product offerings scale with the customer’s business needs as they grow.

When you need a growth-focused financing partner, turn to TimePayment. We finance equipment deals from $500 to $1.5MM+, but transactions under $25K are our specialty.

• Whether your customers are just starting out, firmly established, or national names, we have financing solutions that fit where they are—and where they’re going.