East Coast Roofing, Siding & Windows helps us tell the story of how a successful company leverages the GreenSky® Loan Program to be even more successful, leading to more sales, increased ticket sizes, improved customer experience and getting paid faster.
Tell us about your company products and services, markets and size.
"Since 1979, East Coast Roofing, Siding & Windows has upheld a tradition of excellence, customer satisfaction and quality workmanship. We are an exterior home remodeling company that offers roofing, siding, windows and door replacements. We currently operate primarily in a two-county area of Southern New Jersey."
How did you learn about GreenSky®?
"I had successfully used GreenSky® in the past at other organizations. When East Coast brought me onboard, I partnered us up with GreenSky®."
Briefly describe your sales process, how financing fits into it and whether it has changed with GreenSky®.
"We have a one call close sales process. We qualify and set the appointments with all decision makers through our “call center”, our reps show up, follow our 10-step sales process and close the deal on the spot. Financing is a huge part of this process. We mention the option of financing throughout our conversations with the homeowners and when we present our price, we use three examples of how to pay and two of those are payment options."
"Financing also allows us to help those who have not prepared for a large project. For example, it makes more sense for a homeowner to commit to $160 a month for a new roof system with a warranty as opposed to coming out of pocket for a temporary repair. GreenSky® has also introduced the mobile application which literally takes 2-3 minutes to complete right in the home. Both the reps and homeowners love that aspect. An easy application process and variety of payment options are crucial to us and GreenSky® provides both."
Did GreenSky® help you solve a business problem?
Did you face implementation challenges and, if so, how did you solve them?
"We did not face implementation problems. We developed the correct sales process and payroll structure among our reps to ensure everybody involved was able to see the importance and value in the utilization of financing. GreenSky® was also phenomenal in assisting us with any questions regarding applying, processing, advertising and presenting their products."
In your view, what are the most important benefits of using GreenSky®?
"GreenSky’s easy mobile application is convenient for our sales consultants to use during appointments. In addition, the quick credit decisions and minimal paperwork have made working with GreenSky® a delight. We receive payments quickly and charges are as simple to process as a major credit card. Various payment plans are available through GreenSky® for almost everyone’s budget. GreenSky® also acts as more of a business partner than a vendor."
Describe specific anecdotes in which GreenSky saved or enhanced a sale.
"GreenSky® has helped tremendously in our siding and window business. We have witnessed a significant increase in multiple projects at one home. Affordability has allowed folks to design and purchase the home of their dreams. As opposed to them having to find $55,000 to replace all of their windows and siding, we find the money for them at GreenSky®!"
What, if any, pricing adjustments have you made to offset the cost of financing?
"The cost of financing is no different than the cost of insurance, utilities or advertising. It is a cost of doing business. We adjusted our pricing across all of our product line to reflect and cover these associated costs. We came to the increase based on the plans we present and utilize, figuring that we would finance 50% of our business. Every company should be financing 40% - 60% of their business when selling big ticket items."
What advice would you give your peers on how to effectively use financing in general and GreenSky in particular?
"It all boils down to your sales process and business practices. Price is not an issue if you have implemented a proper process along with ongoing training related to it. Roofing is a big ticket but not a glamorous purchase. When you know how to create a perceived value higher than your asking price and show how it will only cost a little bit each month, it becomes an easy decision for the consumer. Speak in terms of payments."
Is there anything we have not covered that you feel should be included in the case history story?
"East Coast has had a smooth and successful transition to full utilization of financing due to the proper understanding, restructuring, development, training and implementation of the correct processes. This is the key."
Financing is a great way to get more leads, close more deals and increase average tickets. Click here to download our e-book to learn more!