Imagine having a powerful sales tool that helps qualify prospects early in the sales cycle and also makes it harder for them to go to your competition!
Having worked with hundreds of Vendor partners over the years, at TEQlease, we have found that the most successful Vendors use our Lease/Finance options as exactly that type of sales tool.
Vendors who use our Lease/Finance options as a way to qualify opportunities early in the sales cycle have significantly higher closing ratios than Vendors who bring them up at the last minute. Why? Because using the Lease/Finance option as a sales tool means taking the pricing objection off the table early and having better control of the sales cycle by controlling the financing.
Consider the following example. A prospect is considering equipment that costs $100,000. The salesperson presents him with the following options:
- One Time Payment $100,000.00
- Capital Lease (60 Months) $ 2,027.64*
- Operating Lease (60 Months) $ 1,799.32*
By offering these options early in the sales cycle, the Vendor is accomplishing several things.
Qualify for Pricing and Budget
Too many salespeople hesitate when the question of pricing comes up. Often this is because the salesperson doesn’t want to hear an objection. But if a prospective customer doesn’t have the budget to buy, or needs/wants to take advantage of the Lease/Finance option, isn’t it better to find out sooner rather than later?
Offering these simple options helps address the pricing/budget question early. It also gives the salesperson the information he/she needs to make sure he/she is spending time selling to prospects that have the ability to buy.
Controlling the Buying Process
At TEQlease, because we take the time to fully understand your products, your customers and your selling process, we are able to quickly and accurately quote monthly payments and provide “pre-approvals” based on certain minimum information. With these pre-approvals in hand, your salespeople are better able to control the sales process by understanding and controlling the prospect’s financing or buying process. In addition, with these pre-approvals in hand, your salespeople can feel confident that they are spending time with prospects that have the ability to buy from them.
At TEQlease, we provide a number of different options and online tools designed to help Vendors sell more products. These make it easy to calculate and quote payment options specifically designed with your company in mind.
For more information, call Brian Link at 818-222-1006
*NOTE: Payment options are for illustration purposes only. Certain assumptions have been made regarding prevailing interest rates, equipment valuations and other market factors. These numbers are also PRE-TAX numbers. Certain tax benefits occur with each option that also need to be considered.