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When you decide to begin offering financing as a roofing company you’ll find there is an overwhelming number of options to achieve this. Every retail lender will offer various plans that you as a company should take into account to set yourself up for success in the home. The first thing to think about is what problem or discomfort does your client experience and how can you solve it. Financing can accomplish many things:
The ability to keep the project affordable
A bridge of time between the need for a project and the time in which they can actually comfortably pay for the project
The retention of cash
These are the 3 main groups that customer's will fall into. One thing to consider when choosing financing plans for your roofing business is to make sure that the roof will outlive the financing period. If you are in an area that doesn't experience a lot of hail and wind damage longer terms could be a great choice for your customers. However, if you are in a highly active storm market shorter terms would alleviate the fear of owing money on a roofing project that is now needing additional replacement or repair. Roofing and home improvement projects fall into 3 major categories:
Cash -We all know these buyers. They have the cash available to pay for the project readily.
Bridge -This is perhaps a client that has been hit by hail and wasn't planning to replace a roof but could have a windfall of money (i.e. tax return, bonus, insurance proceeds, etc.) coming. They need to borrow money for a shorter period of time.
Payment -This is going to be a client that is payment conscious and is concerned namely with affordability.
We are able to offer plans to fit all of these needs. Below is a list of available plans from GreenSky that fit each need.
Cash - 0% for 24, 36, 48, or 60 months
No Interest No Payments - 0% for 6, 12, or 18 months (There is interest charged if the project is not paid off by the end of the term)
Reduced Rates on set terms - 2.99%-9.99% for 60 to 144 months (Lower payment factors and more time to pay)
The first way to a successful financing program in your roofing or remodeling company is offering plans that make sense to a customer!
Does your roofing company offer financing options for your customers?
Automobile dealerships, mattress stores, appliance and electronics stores, and most HVAC companies offer financing. Why don't you in your construction business? If you aren't offering financing in your construction business you are missing a huge opportunity to serve your clients more professionally and better. Construction businesses that take cash or checks as their only forms of payment are limiting the ability to pay for a project by a prospective client. Don't limit yourself!
The largest struggle that I hear in consulting for construction companies is that they have a large amount of Accounts Receivable and or customer's that won't pay their bill. Put yourself in their shoes for a moment. I can personally admit that I don't easily have access to a checkbook or cash for a construction project. Yet if you take a credit card or better yet provide a financing option I could quickly pay my balance. I doubt very much that I am the minority in this situation but rather the majority of America. There are other factors in this as well.
The average American has less than $1,000 saved. There are studies that show that 57% of America regardless of age have less than $1,000 saved. This is a staggering statistic if your projects are generally 8-10 times that much conservatively. If a customer doesn't have the funds to pay they are less likely to admit this and more likely to blame your price for their reason to not buy from you. This is where pride steps in and steals the sale from you. Don't let payment methods or financing steal sales from you!
Don’t know where to start with offering financing to your customers? We can help!
Are you ready to take your roofing company to the next level? Contact us today to find out how we can help you #elevatethegame.
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#salessimplified
What can YOUR roofing company benefit from our sales platform?
One of the things that we get asked about the most is the implementation of the program. First, I would like to say that we are not a CRM and we are not trying to become a CRM. We are a Best in Class Roof Estimate platform. This makes our process easily repeatable and implementation a breeze. You can quickly generate a PDF contract directly from our system and then put that into your production CRM once it has been signed. We're not trying to create another app in which a contractor or roofing sales professional has to navigate through 10 different screens because that just makes their life harder! We are trying to make your life easier by providing you a quick and easy, accurate, precise way to generate three estimates to give to a homeowner which increases the chances of a buying decision at their home. In short if you'd like more information on how to implement our technology within your process please give us a call or take a tour around our website. We can help you create and define your sales process to match your already successful roofing company. Our mission is to make your sales team more efficient and more profitable. Take a test drive through our platform and get started toward your sales, simplified. Click on the link in the bio to get started with a strategy session today.
Do You Have A Sales Process?
I want to take a little time to talk about the process that a contractor has to go through to complete a full job. In that process there are multiple steps, one of them being (most importantly) the sales process. You don't have a job without a sales process. The second is the production process. This one seems to be the most popular within the industry. Most CRM’s do a great job of assisting in the production process, however they lack very heavily in the sales process. So, to solve some of this HIRevPro created the Best in Class Roofing estimate platform that you can use with a homeowner. You are able to produce three estimates on roofs that you know that the homeowner is interested in, and present color options for all of your quotes. HIRevPro is completely customizable to your company. Click on the link in the bio to schedule a strategy session with us today.
The last time that you bought a large ticket item, did you feel empowered to make a decision or were you sold with high pressure sales tactics? Did this cause a positive or negative reaction before, during, or perhaps even after the sale? As a professional contractor starting my path in the insurance restoration and in-home selling arena I was mostly under the impression that every customer wanted the exact same roof that they presently had. Then I started to actually poll my clients about what their needs wants and beliefs truly were at the point of roof replacement.
They didn’t really know… but would always follow with one simple statement. “We weren’t even offered anything else other than what we had until we called out multiple contractors.” Now let’s be honest. No homeowner truly wants to go through the process of a roof replacement. Nor do they enjoy 75 strangers knocking on their door for the first 7 days after a hailstorm or wind event has hit their neighborhood. Add on top of that the 3-5 appointments that they then set with the contractors of their choice from the 75 that have knocked. Of these 3-5 there are countless claims and promises about the companies that they represent. Some that are true and some that are simply not true. I know that as a roofing professional knocking on doors, running appointments, or working through social media there is a need to stand out.
Guess what? I found that free TV’s, dog walks, and manicures weren’t what the customer truly wanted. They want what we would all like! They wanted someone to treat them with honesty, that will do what they say they can or will do, a fair deal, and the power to purchase something. This is why we built the HIRevPro platform. This gave the customer the ability to build a roof much like a car on a website. With their trusted contractor by their side to help guide them through the educational process.
If you are a contractor, let’s start out off by offering your prospective clients all of the options that would best fit their needs for their current roofing project in one easy to use platform.
#hirevpro #salessimplified #elevatethegame
Why use the Basic, Better, Best selling model? When you use packages to offer clients solutions you are able to convert from a selling experience to buying experience. People in general do not like and many times do not trust sales people. This makes it a different proposition for the homeowner. Instead of selling someone something that you are deciding they want or need you are empowering them to make a buying decision. Our statistics prove and support that this model works not only for the client but also the sales person. As good as we, as sales professionals, think that we are at identifying a customer's needs or wants we in fact fail more often than not. Our users have experienced a closing rate of 28% on the Basic package. As sales professionals we inherently create the Basic package as the package we think they want. The Better package has closed 31% of the times it has been offered. A staggering 41$ of clients have chosen the Best package. These are a far cry from what we traditionally would think or offer if we decided to make a single offering to a client.
A single offering leaves you as a sales professional with no room to work toward a close if you don't properly identify the clients wants and needs. This leaves the client only the option to buy or give you an objection that gets you no closer to closing the sale or identifying your clients true wants. It also leaves you without the ease of an up-sell that ultimately and statistically the client wants or desires.
Don't short change yourself or your clients. Offer them their options every time to ultimately raise customer satisfaction in the buying process. If we can help you or your team please reach out to us at HIRev and let us help simplify and transform your sales process and skills.
#basicbetterbest #hirevpro #salessimplified #elevatethegame