Finances are tight in 2022 and homeowners are very price conscious as they tackle projects this winter. According to Florida Window & Door, over 80% of their customers “require some type of financing to complete their project.” Offering affordable payment options empowers homeowners and helps you close more deals. It’s a win-win to use financing software when closing deals.
Mike O’Connell has been in the financing industry for seven years and he’s been working with home improvement contractors for more than 20 years. He recently shared three reasons why you should use software to make offering financing easy.
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Three Reasons Window Companies Use Financing Software
Quickly and efficiently train sales reps.
Give homeowners options to build value and trust.
Instant decisions help contractors close the deal faster.
What’s so hard about financing for window contractors?
Mike O’Connell said, “The hardest thing about financing is getting over the fact that it’s financing. You have technology solutions today that are at your fingertips and financial technology companies are making it easier for contractors to offer point-of-sale, affordable options for homeowners.”
1. Growth-Minded Window Companies Efficiently Train Sales Reps
Every contractor is going to embrace financing at some point in the journey. Growth-minded business owners bring financing into the business right away and have a real sales strategy tied around it. We see other contractors that are more technician or trades focused and think about their sales processes later.
Mike also said, “For business owners, it’s easy to sell the passion you have for your business. When you start to grow your business and hire sales reps, you must train others to have that same passion.” That’s when owners realize, “I need a repeatable process.”
Whether you’re installing modern windows or swapping out a door, it matters to know whether you are process drive or results driven. Which one are you? Knowing can help you determine which processes need to be implemented and who is going to manage them.
2. Empowered Homeowners Want Pricing & Payment Options
Homeowners want options. Homeowners are now empowered with the option to call you to come into their home. When you look at all the work you’re doing to be at the kitchen table, it makes sense to give your consumers good, better, best pricing options.
We asked Mike if offering financing helps homeowners choose the best option and he said, “Wouldn’t it make sense to give homeowners the option of how they’re going to pay for your service? Your best option could be a suite of financial products like a longer-term promotion or a lower interest rate and could be tied to your “best” package. Each package option could have its own customized offer so you can really show the customer the value they get not only for making the investment in a better quality material, but they can also get a longer term or a better product financially.”
Download the Good, Better, Best Price Guide
3. Instant Financing Decisions to Help You Close More Deals, Faster
If you’re working with financing software and a company like Leap, you can build financing into estimates to help contractors start talking to homeowners about monthly payments and promotion-type loans. When you build financing into your estimates, you’re creating a repeatable process for your sales team. Aaron Magden, CEO of Window Nation, recently talked to Leap about scaling a window business. Read more about it here.
Mike O’Connell said, “When you sell your service at the kitchen table with Leap, you are building the value of you and your company, but it all comes down to affordability and getting them signing the contract. Leap gives you a suite of lenders to choose from giving you instant decisions to help contractors close the deal faster.”
Open Doors (and Windows) To More Sales With Leap
Whether you’re a business owner or managing several sales reps in the field, Leap makes financing easy. Leap is software designed for window and door contractors to create estimates, present price, send documents, sign contracts, offer financing, collect payment, and automatically talk to your CRM – all from your phone or iPad.
Are your reps in the field having to jump between multiple applications? Are your production and installation teams wasting time collecting payments instead of focusing on project tasks? Leap empowers your team to simplify the entire sales process, including financing so you can close more deals.
Financing Made Easy
Leap partners with over a dozen lenders so you can give homeowner’s options and make the process as simple as possible for your customers to plan and finance their home improvement projects.
Help Homeowners Qualify Faster
Leap helps you sell more so by making financing easier. We take the homeowners’ information and pre-populate your financing applications with it. If you have multiple lending options enabled, we can even carry over the information entered from one lender to the others, saving you the uncomfortable conversation of asking for all that information again.
Secure Customer Information
Keep your business safe and protect your customers’ information with Leap. Leap follows best practices for securing its production environments and data. Leap follows the National Institute of Standards and Technology (NIST) for the protection of Personally Identifiable Information. Leap’s security and protection features assure businesses and homeowners that their information is protected and even helps sales reps in the field close the deal.
Are you a window contractor interested in learning more about how Leap increases ticket size, generates revenue, improves your customer experience and helps you get paid faster? GreenSky recently interviewed Leap customer, Jeff Kay with East Coast Roofing, Siding & Windows. You can watch his case study here.
Mike O’Connell “MO” is the VP of Partnerships at Momnt Technologies. During his time in home improvement financing, Mike’s partnerships have touched thousands of contractors and created $1B+ in net sales. He attributes his success to having been the owner of a contracting business.
Want to learn more about Leap? Schedule a demo today!
Leap is a point-of-sales software that takes multiple steps in your sales process and puts them in one digital resource. With Leap, you can pitch your company with updated marketing materials, pull aerial measurements into Leap to show how much material is needed, select products, present pricing packages, sign contracts, offer financing, and process payments ALL with the homeowner in a single appointment.