Financing Options and a Targeted Shopping Experience
Millennials bring many unique habits to the consumer landscape and the impact they have on the economy is big. For instance, this generation, also called “Gen Y”, has caused homeownership rates to drop to their lowest levels since 1965 due to their inclination to rent rather than buy. There is a lot to learn about this generation, including their preference for financing options when they make purchases. Is your business ready to serve them?
The Baby Boomers, once the largest generation, are now outnumbered by the Millennials, so the power they wield with their dollars is growing. Millennials are loyal to their brands, but they also expect those brands to earn that loyalty. This is forcing organizations to be more customer-centric than ever before.
Millennials are the most digitally connected generation ever. They are massive social network users and know how to customize their digital interfaces. Are you giving them that ability to customize? One way to do that is to offer financing options so they have more than one way to make a purchase, online or in-store.
Is your website informative and well designed? Whether it’s a product or a service, consumers are doing their research online and looking for everything from product descriptions to buyer reviews. They are also carefully weighing the price and quality of the product and/or services you offer. It is important that your website provide the quality of content they are searching for.
Could consumers be more influenced to make a purchase if financing options are available to them? When it comes to walking away with a product today and making low monthly payments over time, more consumers are making that purchase. Some of your items might be out of the price range of some consumers. It might be too expensive for them to justify a purchase straight out of their checking account, but if that cost is spread over several months, it suddenly becomes a possibility.
It’s important to reach out to a third party to offer you customized financing programs that will benefit you and your customers. Choose one that can offer financing to consumers with A, B and C credit. Also, choose a financier that offers an easy application process. When you do everything you can to make it easier for your customers, you’ll be rewarded with customer loyalty and larger purchases.
The HELPcard is providing clients with the financing options they’ve been looking for in their effort to reach out to more Millennials. We are giving you the tools to allow for more customization among your consumer base. Contact us today and let’s talk about the financing solution we will build for you and your customers.