The Growth Blog

A no-brainer solution for when your agency prospects say “not right now”

Dec 12, 2018 4:42:50 PM / by inFund

 

One of the fundamental truths of marketing is that maintaining existing clients is a lot easier than obtaining new ones. However, as a business, you also know that to be able to succeed, you need to grow. In almost every case, this means getting new clients.

This is, of course, the hard part. In fact, according to Hubspot, 60% of marketing agencies report that finding new clients is their biggest pain point. Given this difficulty, when you find new prospects, you need to close these sales.

One of the phrases you've probably heard from prospective clients is that there is no money available in their budget. Sure in some cases, this is simply a potential client trying to get rid of you, however for most of them, it is actually a true statement. They are genuinely interested in your services, but honestly believe they cannot afford it. They like your product, you have convinced them of the value to their business, and they would happily purchase it, but they do not believe they can release funding due to other constraints.

In your standard sales manuals, one of the best tips suggests that after you have convinced your prospect of the value of your product, is to help the client to procure financing. You show them that with a simple loan, they can get an immediate ROI. The client sees the benefit and agrees. You help them begin the process. Everybody is happy.

But...

The Problem

Somewhere during the financing approval-process, your client disappears.

This occurs because you have introduced a third-party into the mix.

Low acceptance rates

One the prime driving forces for financing agencies is risk reduction. This makes a lot of sense from their perspective; they want to be sure that a client can repay the loan. However as a result, they can become a little too conservative. They may reject your client who may be completely reliable for something as simple as the fact that they have only been in business for too short a time. Your prospect needs your product or service so they can grow. but if they are rejected, this will kill your sale.

Loss of continuity

Typical financing requires that the client communicate with someone else who is not you to help complete the sale. As is normal, different parties have different interests. This financing agency cares that your client takes out a loan, but in many cases, they have no interest on how the client uses that loan. They do not know the value of the product you offer and have virtually know knowledge of its potential positive impact on the client's ROI. Their interests lie solely in the financing itself, and this too can easily (unintentionally) kill your sale.

Third parties can move slowly

Another factor is that you have added another step for your potential client. For every hurdle you put in the way of the client, you have given them a chance to back out. This is something we all know from our own experience. Have you ever been stuck in a long queue in a store, and decided that the wait is too long? I'm sure many of us have, or even if we have patience, you've seen other people give up. This is impacting that business' closing rate. These delays can kill your sale. (Notice a theme here?)

You want to remove any possible obstacles for your client, so that you can close the sale.

The Solution

What if you could skip that third-party and provide the client financing at the point-of-sale?

By using InFund's White Label Solution on your website, you can do exactly that. Financing the purchase is part of the sales process. You can determine right then and there not only whether the client can afford the product, but also procure the funds that is needed to make it possible for them to make their decision.

Financing becomes part of the sales process. InFund's white label appears as your own brand. No third-party appears to the client. There is no need for the client to wait to find out whether or not they can afford the product; financing occurs seamlessly as the purchase is being made. This gives you the opportunity to complete the application at the same time.

InFund’s White Label Solution not only provides you with an increase boost in the likelihood of your closing the sale, it gives the client the good feeling of making a smart decision without second-guessing themselves. There is no waiting around. It decreases the time that could cause the client to change their mind and back out.

This becomes a win-win situation for everyone involved. The sale is made, financing is determined and provided, and your prospect has the opportunity to immediately generate ROI for their business. Everyone walks away happy.

With InFund's White Label Solution, you can easily convert “no” into “yes.

 

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Topics: Infund blog, Finance, Existing clients

inFund

Written by inFund

inFund is a loan and credit facility provider supporting SMEs to grow and finance their ambitions.