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Suppliers: Should You Offer Your Customers the Option to Lease? [Quiz]

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Closing the sale can be a challenge if your customer faces paying out a large amount of capital. Leasing works for your customers because it helps them spread the cost of equipment aquirements. It works for you because it can help you to stand out in a crowded market place and give you the opportunity to build long-term relationships with customers.

8 out of 10 businesses lease some or all of their equipment. Is it time for you to get on board?

Take this easy quiz to find out.

1. Do you follow a consultative sales process with your customers?

a. All of the time
b. Some of the time
c. Never

2. Do you think you're missing out on opportunities to develop customer relationships?

a. Regularly
b. Sometimes
c. Never

3. Do customers often choose an inferior model for financial reasons?

a. Often
b. Occasionally
c. Never

4. Do the businesses you work with have large capital reserves?

a. No
b. Don’t Know
c. Yes

If you answered mostly a’s, then offering leasing could really work for you and your customers.

Answering mostly b’s indicates that leasing would be a good option for some of your customers.

If you selected several c’s, it might mean that leasing isn’t the best option to help you sell to your customers. But things change, and depending on how your business is doing, it might be worth finding out more.

Why you benefit from offering your customers the option to lease

A common block to selling equipment and technology is a lack of capital. If that’s a barrier to closing a sale, or if your clients are down-grading their ideal purchase because they are worried about their budget, then leasing is a good solution.

How much easier would it be if you could offer regular, flexible payments to a potential customer so they can manage their cash flow more easily? They could also potentially benefit from tax efficiencies and an immediate chance to start seeing a return on their investment. (And you don't have to do any financial selling - it doesn't matter that it's not your area of expertise.)

Offering a leasing arrangement means you’ve started an ongoing relationship with that client - and have the ability to up- and cross-sell in a way that makes it easier to hit your targets. There are clear follow-up opportunities to keep in touch and encourage them to renew or upgrade at the end of the term.

Contact us to learn how easy it is to integrate financing into your offering.

Key takeaways

  • Don’t let a lack of capital stop your clients buying the latest equipment from you
  • Differentiate yourself and start a long-term relationship with your customers by introducing leasing to your sales process
  • Tax efficient and budget friendly for many businesses, with quick payment and streamlined sales processes for you - leasing adds up to a great deal for you and your customers
Trouble Closing the Sale? You May be Making These Mistakes
"What's the point in offering leasing when my sales figures are good?"

About Author

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Sharon Price

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