Watch Instant Consumer Financing Help Increase Loyalty
There are a number of ways to move more product, but one that has increasingly provided more value to businesses includes instant consumer financing. As a store owner you might think you have to make drastic changes to see more product going out the door, but really all it takes is a focused sales strategy and some assistance from a custom credit card provider to give you a boost.
Every business should have a sales strategy. Some hold on to theirs for too long and it becomes ineffective, which can lead to a sales slide downward. Your real estate is valuable so don’t waste it on items that are not hits with the consumer. If you’ve got a group of beds that haven’t attracted the interest of anyone who’s walked through the door, consider reducing the price on them until they are irresistible, sell them and move beds into those areas that you know are going to move quickly. You might take a loss on the unpopular beds, but you’ll make up for it with new product that you know will be a hit with consumers.
Some beds and brands just need a little extra selling strategy, which is why it is important to continually train/educate your team on selling techniques and on the products and companies that make them. The more your sales team knows about a brand or a specific product line, the better they can convey that information to the consumer. Keep everyone on the same page by making sure they’re all getting the same level of training. An educated team will be able to answer questions that can help influence the buying decision of the consumer, and that is something that will make your facility stand out from the rest.
Despite keeping prices competitive with your local sellers, you may find some consumers falling short in their bank accounts. These are motivated consumers who need a bed and are ready to make a decision on their favorite brand, but don’t have the cash on hand. These are people who need instant consumer financing.
Partnering with a company that caters to prime and near-prime consumers that want your products benefits you in a few ways. First, you’re going to see more profits and increased cash flow. Second, you’re going to have satisfied customers, most of whom are utilizing similar funding options at other retailers. Third, these people become return customers due to the fact that you cater to their needs.
Look for a financier that offers customized programs that will be built around your needs and the unique situations of your target audience. The HELPcard has experience working with many industries, including furniture retailers. The revolving line of credit we offer gives companies just like yours a chance to connect with customers and move more furniture.