8 ways to win with consumer financing

Larger projects are typically longer projects, and longer projects usually mean bigger profit margins for contractors. Think about it: With larger projects, fewer unpaid hours are spent quoting work, onboarding new customers, and securing permits. There’s also the chance you’ll save by buying materials in greater quantities.

But how do you target larger projects? Do you have to turn away prospective customers who reach out to you for smaller jobs?

Absolutely not. The key to landing larger projects is seeing each and every prospective project as potentially bigger  – and getting homeowners to see it that way, too. Tap into these tactics gleaned from top in-home sales reps and start securing bigger projects that boost your bottom line:

Nail First Impressions – Beginner Edition

Customers need to like you before they’ll trust you in their home. If you’re not already abiding by these best practices, make them habit ASAP:

  • Clean dress and appearance – Work gear is fine, but make sure you’re presentable and don’t smell.
  • Remove shoes before stepping inside – Or wear backup, non-worksite shoes and explain that they’re clean.
  • No sunglasses or hats – Obstructing your face can make people uneasy about letting you inside.
  • Don’t chew gum – It’s unprofessional and sloppy.
  • Step back after knocking – Give homeowners space to open the door and check you out before letting you in.
  • Don’t park in the driveway – It can disrupt their parking patterns and puts you at risk of leaking materials on their driveway.
  • Don’t walk on the lawn – Shows a lack of regard and can be the kiss of death for landing work.
  • Arrive on time – Early can be just as bad as late. Arrive no more than five minutes before your scheduled appointment, and never arrive late.
  • Pet the dog – Or at least ask its name. Homeowners want to hire someone they can trust with Fido and Fluffy.

 Nail First Impressions – Advanced Edition

Keep your eyes out for (or better yet, come prepared with) safe topics that can lead to real conversation. Better yet, ask prospective customers for advice! Like their backyard grill? Tell them you’re in the market for one, and ask if they recommend theirs. Notice pictures of their trip to Europe? Say you’ve always wanted to go, and ask which city or country is a can’t miss.

At the same time, position yourself as a trustworthy expert. Use technical jargon outside of what a homeowner should be expected to understand. For a window project, for example, ask, “Do you know the difference between a new construction window and a replacement window?” Most people have no idea. Explain the difference in easy-to-understand terms, and watch customers begin to see you as the expert you are.

Don’t Take the Money Bait

Prospective customers sometimes ask about financing as soon as contractors walk in the door. Resist the urge to get into specifics at the start. People are looking for a “gotcha,” and if you talk money in those first formative moments, you may lose the work on the spot. Respond with, “I can make any project affordable. Let me take a look at what you need and then I’ll sharpen my pencil and put numbers down for you.”

Think Bigger
Customers’ actual needs likely extend past the thing they called you for. Make a good impression and give an all-purpose solution for getting everything done at once, and they’re more likely to stretch their dollar today, with you.

A key step toward making this happen: Measure everything you can. Did they call you for roof work or siding? Measure their windows, too, explaining, “I’m recording everything so I have it on file in case you decide to have it done down the road.”

As you’re wrapping up, ask, “Is there anything else you’ve been considering? I can check it out quickly and itemize it.” This one question could mean thousands of dollars in more work.

Mention One Thing They Don’t Need

Be on the lookout for something that customers definitely don’t need – and tell them so. By showing you’re not out to make every dollar, you’re proving you have their best interest in mind.

Set the Stage For Price Conditioning

Offer customers a price range… then offer them excitement and relief when you come in below it. If they ask the average cost of a kitchen renovation, for example, give a number higher than your average (“Generally $50,000 to $70,000.”) then go lower when you offer the actual quote (“$45,000 for everything.”).

Quote Smarter

It’s a well-researched fact: Present people with 2-3 options and they’re more likely to choose one than if they’re only presented with one option and have to answer yes or no.
This means itemizing quotes. Give the customer a number for what they called you for and more. Always include the monthly payment for every option you present, too. Which brings us to the final tip for landing bigger projects:

Introduce Financing

Bring up financing terms at the very end of the appointment as you’re going over numbers. Explain the benefits of PowerPay: Easy access to up to $100,000 in financing, low monthly payments that can fit every budget, a range of terms from 5-, 10-, to 15-year payment options. Work completed in one fell swoop. No emptying their savings account.

When they realize the power of financing and decide to move forward, take out your tablet or laptop (or use theirs) and have them complete PowerPay’s application. It takes two minutes. Within seconds, they’ll know if they’re approved. Pipe dream home improvements are becoming a reality, and you’re guaranteed payment as soon as the project is complete!

Ready to introduce your customers to PowerPay so you can start landing bigger jobs and earning more? Enroll here today and be lending by tomorrow.