Please find the words spoken in this video in the text below.
Hey guys. Thanks for joining me. Today I want to talk about three little words which have a hug impact in the world of B2B sales. And they are: sales aid finance.
So, this is finance jargon for when a business offers finance to help them sell their products and services. Sometimes, this is referred to as ‘vendor finance’ or ‘supplier finance’.
In the consumer world, you will have experienced this when you maybe go buy a car, sofa, or some other high-value item. Although, this is called retail finance.
You will have seen offers like, “Buy Now and Pay Nothing for 12 Months!” Or, “0% Finance for Three Years!” These are marketing ploys to persuade you to buy now, rather than procrastinate and open the door to a competitor.
So, why do these companies offer these seemingly too-good-to-be-true finance deals? Because it is proven to increase the chances of closing a sale.
It removes budget objections, so there are no more “ums” and “erms”, resulting in a loss to a competitor. Plus, it cash-flows your deal. The finance company in the background will pay the supplier upfront and will collect the repayments from the customer.
Now, let me reveal a secret to you. These naught per cent and low interest deals are manufactured. What happens is the supplier sacrifices some of their profit to pay for the interest on the customer’s behalf.
Some cynics might say that the suppliers increase their prices to cover the loss. But, the fact is we will never know. Either way, the ploys work. And the good news is that they can be replicated in the B2B world very easily. This is achieved with out multi-award-winning Synergi Partner Portal.
Contact us today.