In today’s competitive mattress market, offering attractive financing options can be a game-changer. It not only expands your customer base by making high-quality mattresses accessible to more people, but also increases average order value and encourages repeat business.
However, managing multiple lender relationships and navigating complex application processes can be time-consuming and frustrating for both you and your customers.
There are many different services you can use, so here are some things you should look for when hunting for a financing partner.
One application, multiple options:
- Find a single platform that connects your store with multiple lenders from various tiers.
- You want one that doesn’t require you to submit individual applications with each lender, but rather does it all simultaneously, putting your customer’s information in front of a pool of eager lenders.
Maximizing approval rates and amounts:
- Competition between lenders translates to higher approval rates and potentially larger loan amounts for your customers compared to traditional methods.
- Imagine the difference between a $1,500 approval and a whopping $4,700, the difference between a customer walking out empty-handed and leaving with their dream mattress
Saving time and effort:
- You don’t want to juggle paperwork or chase lender updates, so let your provider handle the process and deliver fast decisions and clear options to both you and your customer quickly.
- This not only saves valuable time but also eliminates the frustration and potential embarrassment associated with multiple credit checks.
Building customer loyalty:
Find a service that goes beyond immediate sales by offering automated customer remarketing programs. These programs keep your store top-of-mind, encouraging repeat purchases and building long-lasting customer relationships.
By embracing efficient financing solutions, you’re not just closing deals — you’re helping your customers invest in their well-being and achieve a restful night’s sleep.
