The Ones That Got Away: Customers Whose Business You Missed Out On, and How to Get Them Next Time
As a business owner, you know that every customer is hugely important. Not only does a positive customer experience on a closed sale mean more money in your pocket, it could also mean additional sales through good word-of-mouth and an improved reputation for your store. Conversely, negative customer experiences have a draining effect on your business and could have an impact that's hard to truly quantify.
There is a small percentage of customers you were never going to be able to get, because they never had strong purchasing intent. The customers that you worry about though, the ones that might even keep you up at night, are the ones that, for whatever reason, got away. You missed out on their business and they had a negative experience, and maybe you're not even sure why.
Unfortunately, this often happens during interactions related to your consumer finance program. The way to deal with this problem will depend on the specific issue at hand. Here are a few scenarios where you may miss out on a sale because of an issue with your consumer finance program.
Scenario A - The non-offer.
For your consumer financing program to be successful, your staff needs to offer financing as a core part of the sales pitch. It should never be an afterthought. If a customer never hears about financing options, they can't take advantage of them.
Solution: Identify employees in need of remedial consumer finance training with FormPiper's helpful reporting dashboard.
Scenario B - The frustration walkout.
Let's say you've got your customer's attention with your financing options and they are ready to make a purchase. But then, something frustrating happens: a slow, challenging application process gradually breaks them down and they decide they don't have time to deal with it anymore. Maybe they say they'll do it another time, but they never do. You lost a sale because it took too long to process applications and get an approval.
Solution: Streamline your application process with FormPiper automation, and transmit application details to lenders quickly and efficiently to get the fastest approval possible.
Scenario C - The attrition.
An ineffective consumer finance program will ultimately cost you the most money due to small inefficiencies over time. It's a numbers game. Losing a potential sale due to issues with your finance program here and there might not seem like a big deal in the short term, but over time it could cost you a lot of revenue.
Solution: Take advantage of all that FormPiper has to offer, from in-depth reporting to managed or self-managed services to the ability to add new lenders as needed. Before you know it, your consumer finance program will be in a much better place, and you'll be getting far more applications and making more financed sales as a result. Ultimately, it's all about boosting your revenue.
A Solution for Any Scenario
FormPiper addresses all of the above scenarios, and many more. When you use FormPiper to streamline and automate your consumer finance process, you are setting yourself up for success for years to come by keeping customers from walking out the door. Don't let there be any more 'ones that got away.' See what FormPiper can do for you today.