Issue link: https://resources.greenskycredit.com/i/936999
11 The Psychology of the Sale: Using financing as a tool to close more and bigger deals Do not call it "financing" that is the "F" word and has a negative connotation. Use Exciting Offers, Special Promotion, Great Payment Options, etc. Promote payment options just like you do special pricing or free upgrades, etc., include financing in marketing materials, on your website, in your showroom or anywhere you promote your brand. Use financing offers to increase orders and make extras affordable. Make financing a part of your standard sales process. Mention it early and often. Do not wait for the customer to bring it up. By then, you may have already offered a discount. It's a difficult situation if you offer a discount, then they say "So, what kind of financing do you offer?" Sell affordability, not price. Example: You may average $13,000 per order. As a part of the sale, you usually try to upsell a new storm door. Now, instead of trying to sell a higher total cost, sell a monthly payment. Or, use no interest/no payment (if paid in full within the promo period)* financing. In that case, you might ask, "Can you come up with the additional amount in 12 months?" Either way, you are selling affordability. Use the fact that the GreenSky® Loan Program** "over-accommodates" the loan amount whenever possible. This is a very important benefit of the GreenSky® Loan Program. Example: If the project cost is $13,000, we may approve them for $16,000. Now, you can help them afford an extra $5k worth of products and services based on the monthly payment difference, not the higher price. Go ahead and sell the monthly payment. It's the same sales approach used in the automotive industry. *Interest is billed during the promotional period, but all interest is waived if the purchase balance is paid in full before the expiration of the promotional period. **Financing for GreenSky® consumer loan programs is provided by federally insured, federal and state chartered financial institutions without regard to age, race, color, religion, national origin, gender or familial status.