Why offer credit to your consumers?

As a retailer, you’re well aware that businesses only make money by closing sales. But when you sell ‘big-ticket’ items, affordability can sometimes be an obstacle for customers. So if you’re not offering repayment options, then you’re probably missing sales opportunities every day.

Consumer Credit for retailers is a great ‘soft sell’ marketing message

Consumer credit is a powerful sales tool.  That’s why we recommend promoting finance offers, such as buy now-pay later, within adverts and on websites – it brings people into showrooms and generates enquiries. It’s worth testing to find out which advertising messages work best, but even something as simple as “Finance Options Available” or “Easy Monthly Repayments” can have a very positive response.

Offering finance also arms salespeople with the ability to handle objections. Without a monthly repayment option, many customers may walk away because they can’t afford the purchase at that moment in time. So make it easier for people to buy, and train salespeople to present the repayment options effectively.

Getting the right support & training is the key to success

A common misconception is that finance will over complicate the sales process for sales teams, or that it will be difficult for salespeople to explain it competently to customers. That’s one of the benefit of partnering with CCS, because we specialise in providing the comprehensive, ongoing training programmes you need – so you can be confident your sales team is up to speed and getting things right first time, every time.

Paperwork can be another concern, but salespeople can actually close a deal with a single credit application sheet and a mobile phone in a matter of minutes. And if they carry a laptop or tablet, then they can submit credit applications via the Internet.

Succeeding in a competitive market

Some retailers are cautious about introducing credit because they believe it will cut into profits or increase their costs.  However, this overlooks the benefit consumer credit brings and the positive impact it has on cash flow – and there are many attractive finance products that don’t carry subsidies!

Consumer credit can create a real competitive advantage, but first you need to choose the right lending partner for your business.  At CCS we work with a panel of lenders so we can find the best credit products for you and your customers.

To find out more call 0845 120 6666 today.