At Synergi Finance, we abide by the mantra: “Service. Knowledge. Value.” With ‘knowledge’ being the second pillar. After all, you can’t sell without a working knowledge of your products and your target industries.
We take the time to understand our vendor partners’ industries, as well as the industries of their B2B customers. Understanding what they need from finance is key to providing something effective.
And the same can be said for our partners themselves. They need to build an understanding of their customers’ industries to get a good idea of how their solutions will fit into their day-to-day activities.
When you are selling products and services in the B2B sector, it is important that you understand your clients’ industries. You need to understand their systems and processes, as well as their pains.
So, the next time that you’re prospecting a new client, build an extensive knowledge base. There are five important things that you should do to build this knowledge base. And these include:
- Network with people in the industry – Pick their brains and get a feel for what it’s like.
- Find a mentor – This can be an extension to networking and doesn’t have to cost the world.
- Use social media – Follow your peers, your suppliers, and also your competitors.
- Read industry news – Your trade body should be impartial and is a good place to start.
- And study – Research what your customers want in order to get ahead of the game.
Once you build an idea of how your customer’s business works, you can then create a tailored payment option. This could include subscription payments, discounted payments, or even 0% finance.
How to apply industry knowledge to a payment option
Sales enablement finance is commonly used by the sellers of B2B solutions. These vendors typically offer their customers a finance payment option in order to improve their sales performance.
B2B solutions are notoriously expensive. Therefore, salespeople often encounter budget objections and hesitation. These problems are a drain on their valuable time and stop them from closing further sales.
Sales enablement finance overcomes these obstacles by breaking costs down into a manageable series of installments. As a result, the products look much more affordable and much more appealing.
Vendors who offer finance subsequently go through quicker transactions. They receive full, upfront payment within 24 hours, giving salespeople time to make prospecting calls and pursue other opportunities.
How is this possible? Simple. We invite a commercial lender into the transaction. The lender will buy the solution from the vendor. And the customer will make their monthly repayments to them.
What is the Synergi Partner Portal?
Synergi’s B2B vendors offer finance on their products and services through our multi-award winning portal. The Synergi Portal is a sales enablement tool which is free to use. And what’s more, it allows you to carry out four key functions. These include:
You can create a bespoke finance quotation for your customer. It will even have your company logo featured on it.
The Synergi Portal is integrated with Companies House and Credit Safe. You can therefore run credit appraisals on customers.
Tell your broker that a quote has been given the green light by converting it into a deal. Synergi will then secure the finance.
And last of all, you can track your deals through the underwriting and documentation process. This keeps you in the know.
Do you want to use your industry knowledge to create a bespoke payment option for clients? Then look no further. Register for a demonstration of the Synergi Partner Portal by completing an enquiry.