Cater to Your Customers With Consumer Financing
Business owners today are working to pull in more customers while also trying to retain their current customers, and one of the best ways to do that is to create a customer experience. Consumer financing is increasingly becoming one method of boosting the customer experience.
Among the trends affecting how business owners cater to their target audience includes recognizing and acting upon the fact that consumers are part of an experience economy. This means that as a retailer you can’t sit back and rest on your product offerings – you have to make consumers want to come to your store. You have to offer your target audience an impactful experience.
Online shopping has created a whole new market for consumers. While you may be benefiting from this by creating an online store of your own, you also have to do everything in your power to personalize the in-store experience. In fact, a survey by Infosys found that nearly 80 percent of customers would come back to a retailer if they have been touched by personalized offers.
To get an idea of how tough it is to compete with other businesses, take a look at what online shops like Amazon are offering – free shipping with a Prime membership; seemingly endless varieties of products; discounts on subscription items – the bar is set high. What can your organization do to match these perks? While it’s just about impossible to match all of them, there are many improvements that can be made to cater to a wider variety of consumers.
One way to find out what your target audience wants is to get involved in business analytics research. The organizations that have done their research are able to reach consumers, becoming cognizant of what they want without even having to ask them. The thing is, most consumers know that their favorite retailers already know this. Don’t stay behind the curve – start informing yourself on the wants and needs of your target audience.
Consumers have also come to expect consumer financing anywhere they do business. This is more than just a trend. Businesses ranging from funeral homes to veterinarians to retailers are offering consumer financing because of all the benefits it brings to them. When consumers know they can opt for a low monthly payment instead of handing over the total amount for the item or service they buy, they are more likely to come to your business.
Another benefit of offering consumer financing is that items that might be a little out of the price range for the average buyer will suddenly become an option to purchase. The HELPcard can assist your business with financing options today. Let’s discuss the needs of your customers and customize a financing solution that will be perfect for them and profitable for you.