The Growth Blog

Why offering funded packages to your potential new client is your key to growth

Feb 5, 2019 12:19:48 PM / by inFund

Your offering is excellent. You've gathered together an excellent lead sheet. You have a list of prospects that you know would benefit greatly from your services. You've done some advance work and understand which areas could benefit them the most. You may even know that the client is directly interested in what you have to offer, because they have filled out a form on your website, or signed up for one of your newsletters.

This sale seems like a no-brainer. But for some reason you can't close. Your potential client has cold feet, or doesn't want to pull the trigger on something that you know they need, and that they know they need.

Why some prospects are reluctant to close

We all know the main reason why most clients won't make that decision: it's about money. Of course, that can be divided up into several categories. While cash-flow is a major factor, it's not always for the same reason. Maybe it's that the client doesn't have enough, or maybe they want to purchase other things, all of which they need, but have reached a kind of mental gridlock and cannot make the decision about which purchase to make. Maybe they are holding out for a better offer from your competition.

Then there are those who are planning to make a decision, but may be looking for the best price. Your client may be willing to invest in a service that is “not quite as good” as yours, because they are worried about the funds. Are you willing to lower your price for this client? You might consider doing so, however it's important to remember that once a client gets a deal from you for your services, they may expect to keep getting the same deal for future services. As a result, you've made the sale, but your bottom line takes a hit.

Because of all of the above, your agency may be struggling. You know you need to make this sale. You are working every angle you can think of, such as how your offering is better than the competition, or that if they just make the purchase they will soon make more money so that it becomes no longer an issue for them. You have a full toolkit of sales weapons. Many of them work, however there's always a certain number of them that you cannot seem to sign.

Why providing financing helps

What you need is another lure in your tackle box that can help get these clients. One great option is to provide them with an easy method for paying for your services, right there at the point of sale. By providing them with a fast unsecured loan, through a branded page on your website, your client can get the funding they need almost immediately, greatly increasing the chance that you will convince some prospects to turn the corner and become clients.

For all of the aforementioned types of prospects, this can help increase the odds that they will make the decision to go with you. If they felt they couldn't afford your services, you've shown them a way. If they were considering using a lesser offering, you've provided them a method for obtaining your higher quality one without immediate up-front expense. For that client who on the line deciding between you and your competition? They've been given access to more cash-flow if they choose you. For those in mental gridlock? You've helped clear the way.

While financing clearly won't solve every one of your sales woes, it is a very good option to include in your sales kit to help improve your closing rate. If you've only increased your conversions by 10%, that can make a big difference. Imagine if your bank provided you with that level of interest. You'd consider that an obvious choice.

As we know, it's easier to keep clients than to gain new ones, so imagine if you steadily increase your stable of happy customers and how this will help your bottom line. Your ROI will grow far more than the 10% mentioned above.

If you want your business to grow like it should, working with InFund to provide financing to your new or existing clients will give you a nice push in the right direction.

inFund

Written by inFund

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