5 Techniques to Encourage Technology Upgrades
No business wants to fall behind, but keeping up with the pace of technology can be hard on the budget.
This common customer challenge presents an opportunity that technology manufacturers and sellers can leverage by:
- Bundling Solutions – To minimize unexpected costs that can interfere with planned cash flow, include everything customers need to be productive over the lifespan of the solution, including delivery, installation, software, service contracts, and consumables.
- Including an Affordable Payment Method in the Solution – Give customers an easy alternative to cash and credit lines with reasonable payments built right into the solution itself.
- Simplifying Upgrades – If your finance program allows it, help customers step up to the latest technology with just a quick change to their existing agreement and any needed payment adjustment rather than a new agreement and possible down payment.
- Managing the Technology Lifecycle – Encourage timely replacements before expensive breakdowns/obsolescence by proactively reaching out to discuss technology update plans.
- Selling Capability Instead of Ownership – Owning technology outright can be needlessly costly for customers. By focusing on what the technology does for a customer rather than the components, you create an ongoing solutions relationship instead of a transactional relationship that can lead to commoditization and increased pricing pressure.
LEAF, a subsidiary of People’s United Bank, N.A., wants to use our expanded resources to help you address one of your customers’ biggest pain points: affordably keeping up with technology.
That’s why we created LEAF Captive in the Cloud™, which helps make technology affordable for customers and gives you a fully configurable, fully controllable, fully branded in-house finance program without the cost or administrative workload.
If you’d like to discuss making your solutions easier to sell with a finance program that makes it easier and more affordable for customers to update their technology, click below or contact your LEAF Account Champion today.
Terms and Conditions: All applications are subject to credit approval. LEAF finances equipment only for business purposes and not for personal, family or household use.