Want to get to a quicker yes with your prospects? Here are a couple of important points to stress the benefits of equipment financing, a couple of objection handlers, and a reminder about the importance of sharing success stories.
1. The Right Fit for Your Prospect’s Needs. Let your prospects know upfront that they can acquire the equipment that best suits their needs rather than having to settle for what they think they can afford. On the other hand, while some purchasers are prepared to pay for equipment, they may not have factored in the costs of delivery, installation, and maintenance, to mention a few. These soft costs could result in some serious sticker shock for your prospect.
Moreover, these costs can represent a significant percentage of the total cost of acquiring equipment, and some lenders may have little appetite to include them in the financing. In most cases, specialized lenders can fold them into the overall cost of the financing. Knowing this can tip the scales in your favor.
Issues like soft costs and repayment schedules can be as important as any other factor when a prospect is considering an equipment acquisition. Be prepared to offer the options and flexibility that best accommodate the realities of your prospect’s cashflow.
You’re presenting your deal, and you’re confident things are going well. And then it comes: the dreaded objection. With any luck, your prospect will express her or his concerns directly. Things like, “Okay, what’s the bottom line here? How much is this going to cost me?” Or, “Why wouldn’t I just buy this equipment outright?” Here are tips for answering these common objections.
When your prospect expresses an objection in vague terms, ask questions, and gather some facts to uncover his or her true concerns. Taking the time to clarify the nature of the objection is well worth the effort since it’s almost sure to arise further down the road.
Nothing Succeeds Like Success