For workplace solution providers, the type of assets you sell can vary widely depending on your customer’s needs—whether it's MFPs, devices, software, security and access control, or furniture. However, there's one question every customer will ask: “How am I going to pay for this?”
This question has multiple answers. Customers can use cash, credit cards, bank credit lines, or explore financing options. With all the potential friction points in the sales process, don’t let this question become an objection. Instead, integrate multiple payment options into your selling strategy to solve problems for your customers and enhance your solutions.
But what if you’re not a financing expert? How can you help? It all starts with a conversation. Here are five tips to guide you:
1. Determine the customer’s business priorities
Imagine your customer needs to optimize and expand their operations. They want to buy the latest hardware and software from you. Here are some questions to consider:
- What is your business goal with these assets?
- When and how do you expect to reach this goal?
- How many years do you plan to use these assets before upgrading?
- How does your budgeting process work? Is this a capital or operational expenditure?
- What other workplace investments will you need to make in the coming years?
2. Involve a finance partner early
A good finance partner can answer both your and your customers’ questions from the initial inquiry through to funding and beyond. They can also help plan for the best end-of-term options ahead of time, allowing you to focus on finding the best financial solutions for your customers.
3. Proactively offer solutions to improve customers’ financial positions
Workplace asset purchases often require substantial investment. Companies need to balance this with other expenses and profit forecasts. Do your research. If your customer’s annual report is publicly available, read it to find insights into where you could support them, such as saving money on asset spend or addressing upcoming business needs.
- Ask questions to learn more about their financial flexibility:
- How do you plan to pay for this asset (e.g., loan, upfront cash)?
- How soon do you want to generate a return on the investment?
- How will this purchase affect your balance sheet?
- Which financial results are you optimizing for in the next year?
4. Include payment offers on every quote
Your financing partner can help develop adaptive payment solutions—such as monthly, quarterly, or annual payments. By including financing options in your proposals, you not only give your customers flexibility but also the ability to mix and match services and products for a unique solution.
For example, if your customer wants an easy, cost-effective way to manage upgrades for their office MFPs, including a payment offer with a partner experienced in workplace equipment payment solutions could allow you to include upgrade costs in your service contracts. This can spark interest and questions during the sales process
5. Make Payment Options Integral to Your Communications
Customers often look for signs that you can help them with payment options. Highlight your financing options in conversations, sales materials, and on your website. Ask your finance partner for information and collateral (e.g., marketing materials about financing offers) to use alongside your proposals, on your website, or in your direct marketing strategy.
Effectively managing customer financing requires a strategic and proactive approach. As a financial solution expert, keep these five factors in mind when engaging with dealers and resellers. Understanding the organization’s business priorities is crucial to tailoring your solutions to meet their specific needs.
Ready to explore how DLL can help you with flexible financing options for your workplace solutions? Contact us today to start a conversation on how offering flexible payment solutions can simplify your sale.
