Acima Credit Blog
You're More Than A Three-Digit Credit Score
Point-of-Sale Financing: Why Your Business Needs It
Regardless of your industry, chances are you’re always looking to improve the shopping and buying experience for your customers. You know that making the buying process as simple as possible will lead to more sales.
Point-of-sale financing is an easy way to provide a better shopping experience for your customers, and in turn, increase revenue. That’s why many businesses are turning to point-of-sale financing solutions like Acima. Here are just a few ways it can help you and your customers:
Speeds up the purchase process
One of the biggest benefits of point-of-sale financing is just how quick and easy it is. With Acima, getting approval is done with the customer via a simple online form, which they can do on their mobile device if they prefer. They answer the questions and learn if they are approved in a matter of minutes. It’s that fast and easy. No credit check involved. No need for you or your customers to hassle with the bank, make a return visit to your business or fill out dozens of forms. It’s all done in-store, right there at the checkout counter. A few minutes and they’re approved for the purchase.
Improves relationships with customers
By offering a customer-friendly option like point-of-sale financing, you show your customers that you care enough about them to offer multiple avenues for them to get what they want – the merchandise. Not every customer who comes in to your store will have the same needs, and offering different solutions to those needs shows them you want to provide them the best service possible. Every effort counts when you’re helping someone who may be stressed about making such a large purchase. And customers who appreciate your efforts in helping them will lead directly to the next point …
Increases word-of-mouth sales
Because point-of-sale financing helps your customers get out the door faster with the items they love, they’ll be more likely to share their positive experience, and that means more than just leaving a review on Yelp or Google. If you are able speed up the purchasing process and in turn build a better relationship with your customer, they will recommend your company to their friends. The analyst group Nielsen reports that as much as 84 percent of customers take action on a business—positively or negatively—based on a personal recommendation; and market researcher Keller Fay shows that only a 10 percent increase in word-of-mouth marketing can boost sales as much as 1.5 percent. Good customer experiences equal increased sales, and point-of-sale financing makes for better customer experiences.
By streamlining the purchase process and showing your customers you care by providing better options, average customers become loyal customers, who are more likely to recommend your business, which in turn brings you greater revenue and success.