Equipment companies compete against each other in a variety of areas; price, product line and brand recognition are a few. Having recognition in your market is critical to getting new business and helps previous clients to come back; the bottom line is the more you can get your name out there in your market circulating, the longer the “shelf-life” your company and products will have. Offering private label financing is one of the ways to build status around your name.
The benefits include:
Offer a complete service – private label/co-branded financing gives you a competitive edge over your competition. If you are simply referring your clients to their bank or other finance company after making a sale, then you are leaving them hanging to do the work by themselves. If they get frustrated, chances are they won’t come back to you asking for help. Branding your forms sends them directly to your resource where the finance process can begin immediately with someone that knows you and your product line.
Build your own brand and status – when you include your logo and name on all the supporting finance forms you help build your own brand recognition since those forms are often circulated around a company. It shows that you have gone the extra step to ally yourself with a partner who will help your customer have the best experience possible; that point itself will increase your status from just a “provider” to a “complete solutions package”.
Build your sales – why does the auto dealer easily get you to buy additional options when finalizing your car purchase? Because the additional few dollars per month is easy to justify and budget into your purchase; you get all the bells and whistles since you know it’s only a few more dollars a month. That’s why your customer will usually opt to increase their purchase when financing your product because getting a few extra options is so painless.
It is easy to get a Vendor Program started with us; we quickly brand as many of our forms as you would like and in exchange we ask that you place our logo or company name with link to our website someplace on your website. Try it for 3-6 months and track your sales and see if it doesn’t help you close a few more deals.