3 Ways to Close More Projects Worth More Money
As a contractor, you’ve probably had this experience: You walk into a customer’s home, quote a project, and their mouth drops at the price. The conversation becomes difficult from there. Usually, you’re forced to watch your project shrink or disappear altogether. Using financing, you can have that experience far less often. However, in order to do that, you’ll need to change the way you respond to customers during negotiation. Below are three tips you can use to sell more projects worth more money:
1) Don’t Haggle by Practicing Your Pivot
Customers will often want to negotiate. Don’t let your first response be “okay, how much?” Instead, be ready with a pivot to discuss financing. If a customer balks at a price, simply say something like, “That’s no problem. We offer financing that can take the cost down to an affordable monthly payment.”
2) Use Analogies
Many customers might never have thought about using financing for home improvements. If that’s the case, an analogy can be helpful. The most common analogy is to talk with your customers about how they bought their car. Very few customers buy their car outright—they finance a portion in order to make it more affordable. If customers haven’t financed their car, focus on the most obvious place there is: their home mortgage.
3) Be Ready to Discuss the Benefits of Financing
For customers uncomfortable with financing, take the time to focus on the benefits: They don’t need to reduce the scope of their project, they can get what they’ve always wanted for their home, and they don’t need to empty their savings account. If you want, you can also share with them our article, “3 Benefits to Financing Your Next Home Improvement”, available on the POWERpay blog or in our Dealer Portal.
Financing can often be beneficial to all parties: contractors can win more projects worth more money and customers can have the home they always dreamed of. If you’re interested in offering financing to your customers, head over to GetPowerPay.com/businesses to enroll and get started today.