Remember when the Fed said inflation was ‘transitory’? Nice. Well it’s here and hammering the bottom lines of your customers every day. Cost of raw materials, fuel, labor and of course, the equipment you sell that they need. So, what happens when all your customers face shrinking margins and potentially lower demand all at the same time?
Sales pipelines stall.
While stopping the impact of inflation might fee like putting on a lifejacket to survive a tidal wave, there are a few things you can do as an equipment seller to stem the tide and its impact on your sales goals.
Here are 4 actions to consider:
Check on that customer finance program. Payments have never been more important and if the machine you use to power those payment solutions is broken or ineffective, you’re not only poorly positioned to win you’re at a competitive disadvantage.
Lead with payments. If you wait until a customer asks about financing, you may be too late. In a recent survey of over 5000 equipment buyers, nearly 7 in 10 businesses gave an advantage to the equipment seller that put the payment option prominently on the first quote.
Get creative. No pay for 90 days? Bundled service? Combine manufacturer incentives with financing? Now is the time to get creative on how you can build a differentiated offer to drive more traffic in the door. Your finance program partner should be able to help.
Get moving. Don’t wait until inflation pains turn into talks of recession. Now is the time to act to get your unfair share of a market drowning in its own uncertainties.
At American Bank Equipment Finance, we get it. And we’re hustling every day to make payment options help solve the inevitable delays that come from rising costs. We’re fast, competitive, and flexible and we’re here to help you sell more.
Let’s do this.