Let’s be honest…
when you’re a solution provider, talking about financing technology can be a little uncomfortable. This is especially true when it comes to technology, because technology is incredibly expensive. Not many people have hundreds of thousands of dollars to throw down on an IT solution. And, if they do, they may not have it worked into their existing budget. Finding an inventive way to alleviate the stress of acquiring technology should be a priority for anyone selling technology.
For most solution providers, shifting the topic of conversation from technology to financing can be tricky. We’ve been doing this for nearly 20 years, so we’ve learned a thing or two about making this transition. Here’s a few helpful ways to shift the topic from tech to a financing discussion.
RESEARCH YOUR CUSTOMER
This is an important step. You don’t want to attempt to the financing discussion before you can answer these simple questions. When you are researching your customer, learn how they buy and consider these things.
- Are they a cash buyer? If so, fair enough – you should probably not mention financing technology as a means of purchasing because this doesn’t fit their business model.
- Are they a payment buyer? If they do, then you should present to them a finance based proposal. This little bit of added effort shows your customer you are familiar with their business needs and builds trust. This also helps you increase deal sizes dramatically as larger purchases, when broken down into monthly payments, can lead to substantially easier payments for your customers.
2. ADD MONTHLY PAYMENT OPTIONS TO EVERY PROPOSAL
An equally important step, but it is often overlooked. As we touched on earlier, when you add monthly payment options into your proposal you are helping your customers weigh out their choices. By including this step in your proposal, the financing discussion can be a natural transition, rather than an last resort to close the deal.
3. INTRODUCE YOUR FINANCING PARTNER QUICKLY
When you introduce your financial partner, you immediately shift the focus from tech to finance. It is important to have a trusted financial partner to bring into the fold. They can answer any immediate questions regarding the payment process.
REMEMBER, it isn’t a total business solution without a financing solution. Helping your customers by offering creative and flexible financing solutions, addressing all technologies and supporting services, can help you differentiate yourself from competitors focused squarely on technology. What’s more, all-encompassing financing options encourage customers to purchase more, and more often which saves them money while creating a steady monthly revenue stream for solution providers. In the end, by offering financing, you aren’t just helping your customers by becoming a complete solution provider – you are helping your own sales by creating more opportunities to close deals.