A slow retail application process kills customer enthusiasm and can even shutter deals. Here’s how to speed up the retail finance application process to keep your customers happy and close sales quicker.
Tip #1 – Offer Quickly
Don’t bury the lead when it comes to offering financing to your customers. After all, a big part of getting them through the financing process in record time is helping them get off on the right foot quickly. Instruct your team members to pitch financing up front to every customer, every time, rather than saving it for the end of the sales conversation, or, worse yet, leaving the details on a flier tucked in a drawer somewhere.
By offering financing right away to your customers, you can give them a better sense of their options from the outset of the conversation. You may find that some customers jump on the opportunity for financing right away, further accelerating the sales process. You have to keep in mind that some customers who seem indecisive are not unsure about what they want, but about how they want to get it. By putting a strong option for getting it in front of them, you can speed the whole process along.
Tip #2 – Eliminate Pain Points
It does you no good to offer quickly and talk a big game about your financing options if the actual process of applying for financing is miserable. That’s why it’s essential to work with a company like FormPiper who can help you streamline the application process.
FormPiper eliminates duplicate data entry on the part of you or your staff by empowering you to fill multiple forms with customer application data with a single click of a button. This is about more than just saving time, it’s about saving the customer interaction and not leaving them feeling awkward or ashamed as they wait for the approval to go through.
In every way, you want to smooth and streamline the financing process while eliminating the pain points that customers will remember as standing out contrast during an otherwise positive experience. FormPiper can help you do that at every step of the way.
Tip #3 – Don’t Just ‘Rinse and Repeat’
OK, so you’ve spiced up your retail finance application process and you are starting to see boosted revenue and happier customers. Now you just rinse and repeat, right?
No way. Doing the same thing over and over with no improvement is a surefire way to introduce stagnation into your consumer finance program. You need to make continual improvements to your consumer finance program to keep it running well, just as you would for any other part of your business.
The best way to do this is by taking actions based on reporting. FormPiper also helps in this regard by giving you all the reporting information you need in a single dashboard. By leveraging the insights FormPiper delivers via your reporting dashboard, you’ll be able to make the optimizations necessary to keep your customer finance program on the cutting edge and continue to drive more and more revenue and happier and happier customers.
Ready to see how FormPiper can help you speed your consumer finance process along in every way? Schedule a demo today to learn more.
