Looking to boost your sales and increase customer loyalty? Offering attractive and tailored financing solutions is an excellent way to achieve this. By providing more payment flexibility, you allow a larger number of customers to access your products and services. But to reap all the benefits of financing, it's essential to optimize your offers. Diversification, personalization, ease of use... Discover in this article 5 innovative strategies to enrich your customer financing offers and boost your sales performance!

Diversify Your Payment Offers to Meet the Needs of All Your Customers

To enrich your financing offers, the first step is to provide a wide range of payment solutions. Indeed, each customer has specific needs and preferences when it comes to financing. Some are looking for payment facilities to spread their purchases over time, while others need full financing for large-scale projects.

Installment Payments, a Highly Popular Solution

Interest-free installment payments (3, 4 or 10 times) have become a must, especially for online purchases. This short-term financing solution allows your customers to spread their purchase over several monthly payments, at no extra cost. It's an excellent way to reduce the price barrier and increase your average order value.

The Benefits of Installment Payments

• Accessible to all customer profiles, even those with limited borrowing capacity
• Encourages impulse purchases and "little pleasures"
• Easy to set up thanks to Basikon's low-code platform

How to Offer Installment Payments to Your Customers?

With Basikon, you can easily integrate installment payments into your sales funnel, whether on your e-commerce site or in-store. Our low-code platform allows you to define the installment terms (number of payments, minimum purchase amount...) and connect your information system in just a few clicks. You then manage the entire process from a single portal.

Traditional Credit, Ideal for Large Purchases

For more expensive goods (car, home improvements, professional equipment...), consumer credit remains a safe bet. Offer different financing terms, from 12 to 60 months for example, to adapt to each person's repayment capacity. You can also offer a "with or without down payment" option for more flexibility.

The Different Types of Consumer Credit

• Assigned credit: financing is directly linked to a good or service
• Revolving credit: a reserve of money that the customer can draw from as needed
• Lease with option to purchase (LOP): the customer leases the property with the option to buy it at the end of the contract

Best Practices for Offering Consumer Credit

With the Basikon platform, you can compliantly manage your consumer credit contracts. Our solution integrates all regulatory obligations (pre-contractual information, withdrawal period, reporting...) and allows you to delegate the management of files to our teams of experts.

Long-Term Rental, an Alternative to Purchasing

Long-term rental (LTR) is another way to enrich your financing offers, by providing an alternative to purchasing or traditional credit. This system is particularly popular for goods that require regular renewal, such as computer equipment or smartphones. Your customers benefit from recent products while spreading their budget over a long period.

The Specifics of LTR

• An attractive monthly rent, often lower than a credit payment
• Included services: maintenance, assistance, insurance...
• The possibility to regularly change equipment
• No capital tied up for the business customer

What Type of Goods Should be Offered in LTR?

With Basikon, you can easily set up LTR offers on any type of goods: automotive, high-tech, professional equipment... Our platform interfaces with your business tools (ERP, CRM...) to automate the process from end to end: from simulation to contract generation, including rent call management.

Personalize Your Financing Offers According to Each Customer's Profile and History

Today, consumers expect a tailored experience, including in terms of financing. To enrich your offers, it is therefore essential to segment your customers and offer them solutions adapted to their profile, purchasing habits and payment history.

Analyze Customer Data to Define Typical Profiles

The first step is to leverage your customer data (CRM, purchase history, average order value...) to identify recurring profiles. For example, you can distinguish:

• Loyal customers, who have been buying from you regularly for a long time
• New customers, who have just made their first purchase
• "High potential" customers, who make occasional high-value purchases
• Price-sensitive customers, who systematically look for good deals

Create Tailored Financing Offers for Each Segment

Once your segments are identified, you can design financing offers tailored to the needs and behaviors of each customer profile. Some examples:

• For loyal customers: a privileged credit offer with a preferential rate and a simplified procedure
• For new customers: a 3-installment payment offer with no fees for purchases over $150 to encourage them to increase their average order value
• For high-potential customers: a customized LOP solution with premium services
• For price-sensitive customers: a 10-installment payment plan to make the purchase more accessible

Adjust Your Offers Based on the Evolution of the Customer Relationship

Your customers' behaviors and needs may change over time. It is therefore important to regularly monitor your data to adjust your financing offers accordingly. For example, you can:

• Increase financing limits or offer more advantageous monthly payments to a customer whose purchases are increasing
• Offer an early renewal offer to a LOP customer nearing the end of their contract
• Reward a loyal customer by offering them a free monthly payment or waiving application fees

With Basikon, you can easily set up personalization rules and trigger tailored offers in real time. Our intelligent decision engine continuously analyzes customer data to recommend the best offers for each profile. This maximizes the relevance of your offers and enhances customer satisfaction.

Simplify the User Experience of Your Financing Solutions to Increase Conversion

One of the main barriers to using financing is the perceived complexity of the subscription process. To enrich your offers, it is therefore crucial to simplify the customer journey as much as possible, from simulation to contract signing, including file compilation.

Provide a Clear and Intuitive Simulation Tool

The first step to reassure your customers is to allow them to easily simulate their financing. On your e-commerce site or in-store, set up a clear and intuitive simulation tool that displays in real time:

• The total purchase amount and the amount of each installment
• The number and frequency of payments (weekly, monthly...)
• The total cost of financing (interest rate, application fees...)
• The direct debit date for installments

Digitize the Financing Contract Subscription

To avoid back-and-forth and delays, it is essential to digitize the subscription process as much as possible. With Basikon, you can set up a 100% digital journey:

• Subscription form pre-filled with customer information
• Automated upload and verification of supporting documents
• Secure electronic signature of contracts
• Real-time approval decision thanks to automatic scoring

Support Your Customers Throughout the Life of the Contract

The relationship with your customer doesn't end with the signing of the financing contract! To build loyalty, remember to support them throughout their credit:

• Provide them with a customer portal to view their installments and payments
• Send them notifications before each direct debit
• Allow them to adjust their monthly payments if needed
• Offer them a responsive and omnichannel customer service to answer their questions

With the Basikon platform, you keep an overview of all your current contracts. You can easily interact with your customers, manage unpaid debts and generate your regulatory reports. You thus provide an optimal customer experience while complying with legal requirements.

Communicate Effectively About Your Financing Offers to Attract New Customers

Offering a variety of advantageous financing solutions is great. But you also need to let people know about it! To fully leverage your offers and attract new customers, it is essential to highlight them in your communication strategy.

Integrate Financing into Your Sales Funnel

Whether on your e-commerce site or in-store, make sure to integrate the financing mention as early as possible in the purchasing journey. For example, you can:

• Display a "3-installment payment with no fees over $100" banner on your homepage
• Remind the monthly payments next to the price on each product page
• Offer a financing simulation in the shopping cart
• Add a dedicated financing page in your FAQ

Highlight Your Offers in Your Marketing Campaigns

Financing is a differentiating sales argument, not to be overlooked in your communication. Some ideas to highlight it:

• Send a newsletter dedicated to your financing offers, with concrete examples of monthly payments
• Sponsor posts on social media to reach new targets
• Create a specific landing page for each offer (3-installment with no fees, LOP...)
• Launch co-branding operations with Basikon

Train Your Sales Teams on Financing

Your salespeople and customer advisors are your best ambassadors! To enable them to effectively promote your financing offers, regularly train them on:

• The benefits and functioning of each solution offered
• Eligible customer profiles and acceptance criteria
• Frequently asked questions from customers and how to answer them
• Arguments to reassure reluctant customers and overcome their barriers

Basikon provides you with turnkey training materials for your teams. We can also run awareness sessions to teach them how to master our platform and integrate financing into their sales pitch.

By actively communicating about your payment solutions, you significantly increase their visibility and adoption rate. You thus attract new customers, sensitive to the possibility of spreading their purchases over time, and boost your sales!

Analyze Data to Continuously Optimize Your Financing Offers

To sustainably enrich your financing offers, it is not enough to multiply solutions and communicate about them. You also need to closely monitor their performance and regularly adjust them based on customer feedback and your business objectives.

Define Key Performance Indicators

The first step is to identify the metrics that best reflect the health of your financing offers. Here are some examples of indicators to track:

• Adoption rate: share of sales made with a financing solution
• Average order value: average amount of financed purchases
• Average financing term chosen by your customers
• Cost of risk: rate of unpaid debts and defaults observed
• Customer satisfaction: average score given to your financing offers

Set Up Monitoring Dashboards

To effectively manage your indicators, you need clear reporting tools updated in real time. With Basikon, you access customizable dashboards to track the performance of your financing offers:

• Consolidated and detailed view of your contract portfolio
• Monitoring of outstanding amounts, unpaid debts and conversion rates by offer
• Comparison of performance against previous periods
• Cross-referencing of financing data with your sales and marketing data
• Graphical restitution and data export for your analyses

Launch Regular Tests to Optimize Your Offers

Once your dashboards are operational, you can use them to launch optimization tests on your financing offers. For example:

• Test different minimum purchase thresholds for your installment payment offers
• Experiment with new financing terms and analyze their impact on the average order value
• Vary your financing rates based on the customer risk profile
• Compare the effectiveness of different messages in your financing communications

With Basikon's low-code platform, you can easily modify your offers and launch new experiments. Our decision engine helps you define the best parameters based on your objectives and customer reactions. You thus adopt a continuous improvement approach to find the right balance between attractiveness and profitability.

By following these 5 strategies, you are ready to make financing a real growth lever. So don't wait any longer to enrich and optimize your offers!

Enrich Your Financing Offers to Boost Your Business

Throughout this article, you have discovered 5 concrete strategies to optimize your customer financing offers:

1. Diversify your payment solutions to meet all needs
2. Personalize your offers according to each customer's profile and history
3. Simplify the user experience to increase conversion
4. Communicate effectively to attract new customers
5. Analyze data to continuously improve your offers

By applying these best practices, you make financing a real growth lever for your business. You increase the adoption rate of your offers, the average order value and customer satisfaction. You win on all fronts!

But to succeed in your transformation, you need an expert and flexible partner. This is where Basikon can support you! Thanks to our low-code platform and turnkey solutions, you can easily launch, manage and optimize your financing offers. Installment payments, credit, LOP... We help you build the ideal financing journey for your business and customers.

So don't wait any longer to unleash the potential of financing. Contact us now to discuss your project and discover the power of the Basikon platform!