Finance Week

Here’s Why Businesses Should Offer More Payment Options to Their Customers

Customer care concept in phone and laptop

Imagine this scenario: A customer has inquired a lot about your product, and you can see them turning into a buyer at this moment. Right before closing the sale, they ask if you offer any in-house payment options.

Now, if your answer to this is “no,” you will most likely lose the sale — and possibly a loyal customer. In-store financing has significantly improved consumers’ buying experience, enhanced their purchasing power and inspired loyalty, which leads to repeat purchases.

Despite this, however, many retailers still don’t see its tremendous benefits. It’s time to bridge this financial gap. Here’s why offering more payment options to your customers should be your business’ priority.

It offers a more personal experience

It keeps the agreement between you and the customer. The absence of a third party makes the transaction more personal and often more secure, establishing a relationship of trust and loyalty between both parties.

When you build that kind of relationship, it encourages repeat purchases and even positive feedback, which can bring in more prospects.

It has a more realistic approach

Having a third financial party involved in the sale could make the process longer for you and your customer. Discussing payment options with your customer will show them a more realistic approach to the buying process. This will show them that you trust them and that you are well worthy of the same trust.

It offers more flexibility

With in-store payment options, you can offer your customers payment flexibility. This means it offers more financing possibilities for the customer, giving them more reasons to make that purchase from you.

Again, bridging the financial gap between businesses and customers should be a priority. Making a purchase easier for the customer is making a sale easier for you.

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