Point-of-sale financing allows customers to make purchases with incremental payments and apply for lending at the time of the transaction. This lending product can help convert undecided browsers into decisive buyers, with 76% of customers more likely to buy a product if they’re offered a payment plan. Here’s how to highlight payments in your marketing plan, so you can drive sales, generate leads, and close more deals.
1. Mention Payments as Soon as Possible
Around 75% of customers buying a big-ticket item decide whether or not to finance the purchase long before they’re checking out. The best time to educate them about your lending options is during that research phase. To target these customers, first identify the places where your customer begins their journey: social media advertising, search ads, email marketing, and even customized landing pages. Next, create messaging that highlights financing in each of these channels, so customers see and learn about your lending options during the first interactions with your brand. Knowing they have financing options could drastically alter the trajectory of their shopping, helping them zero in on a purchase more quickly than they otherwise would have.
2. Make It Visible
You have a lot of visual real estate on a digital storefront: the homepage, category sorts, product pages, carts, and checkout, as well as social media and email channels. Use some of that space to highlight financing options in a way that catches the eye. Bold colors, large sans serif fonts, and high contrast can help these calls to action stand out from the rest of the page, and you can use them on banners, pop-ups, stickers, and other standout spaces.
Don’t let sticker shock scare your customers away. If an item can be financed, list both the total retail price and the lowest possible monthly payment with qualifiers such as “as low as $XX per month” or “potential payments of $XX monthly.” This helps the customer envision incorporating a monthly payment into their budget instead of staring down a more substantial sum and worrying about how to pay for it or immediately dismissing it as out of reach.
4. Catch Cart Abandoners
Current online shopping cart abandonment rates for all sectors combined sit at over 80%. Four in five customers who liked an item enough to add it to their cart decided, at some point between adding and checking out, that they no longer wanted to purchase it. What happened? Cost is a common culprit, especially when a customer is confronted with the total cost of a big-ticket item. But all is not lost: when you send out cart abandonment emails to potential customers, highlight your point-of-sale financing options. No lengthy application process, no gathering paperwork, no hard credit pulls. Just manageable monthly payments.
5. Integrate Payments into Seasonal Marketing Campaigns
Integrate language referring to payments into your seasonal marketing campaigns. Marketing around upcoming events or the time of year helps customers keep purchases top of mind as they progress through the calendar. You can combine this empathetic marketing technique with calls to action for alternative financing so that customers will consider their purchase in both time-sensitive and can-do terms. Invite them to spring into affordable equipment financing or unwrap affordable monthly payments this holiday season.
Clicklease can seamlessly integrate buttons, banners, and other digital assets into your existing online storefront, so you can start offering customers the payment plans they want. Let’s talk more today.