The buying landscape for consumers today differs incredibly from the landscape of yesterday. Industry after different industry continue to shift towards online shopping. Even areas where e-commerce once seemed impossible, such as the grocery industry, see online purchasing as routine. The light industrial/construction industries, however, are late to adopt e-commerce and online buying.
When I started in the equipment financing field, I was overwhelmed with industry jargon and numbers with decimal points (hey I’m a marketing guy after all). One of the first things I discovered was how easy it was to calculate a monthly payment using a “rate factor.”
Think of the last time you went on vacation, or maybe you're planning one right now. I would bet some Bitcoin that you visited at least one review site, or looked at reviews of your hotels or places you're looking to visit. Am I right?
Update: Thanks to the new Tax Cuts and Jobs Act of 2017 signed into law in December, the Bonus Depreciation amount is now 100%, is effective for equipment/software placed in service on or after September 28, 2017, and includes used equipment. Simply make your purchase and enjoy your huge tax deduction and savings! Find out how Bonus Depreciation eclipses Section 179.
How do you overcome price objections? A common approach to the “Your price is too high” objection is for the sales rep to lower the selling price with the assumption that it will increase their customer’s perceived financial value. It's important to remember that businesses only acquire equipment because it saves more money or makes more money than it costs. By reducing the upfront cash outlay required to purchase, your customers will generate a positive return on their investment sooner. And while discounting accomplishes this, there is a better approach that can provide an immediate ROI without impacting your sales commission.