Prospecting isn’t easy. By the time you get deep enough into your sales process to actually present your packaging equipment to a serious prospect, you have invested a huge amount of time and effort.
So it makes sense to squeeze the maximum potential from serious prospects you have already invested in.
The key to success in sales is identifying the pain behind the buying decision.
Let’s focus on a common reason why serious prospects don’t convert to sales:
“I don’t have room in my capital budget.”
How do you overcome this? Obviously, lowering your equipment cost is not ideal, and it won’t solve your customer’s problem with spending a large cash outlay.
The solution: Completely bypass the capital budget.
Offer an option to replace a large, up-front cash outlay with monthly payments spread over time. This is where lease financing comes in.
- Leasing avoids the capital budget process.
- Leasing makes equipment more affordable with fixed monthly payments spread over time.
- Leasing can mean quicker budget approval due to its small monthly expense.
- Leasing can reduce the pay-back time to zero (To the extent labor/material savings exceed the monthly lease payment.)
- Leasing packaging equipment is eligible for available Tax Benefits.
- Selling a payment structure is easier than selling a total price.
- Offering leasing doesn’t cost you anything and you get paid in full just like a cash sale.
So now you have a solution to overcome this common objection, but will you get the chance to present it?
The best way to overcome an objection is to address it before it comes up.
Proactively presenting a financing option with your equipment quotes is more effective than waiting to see if your prospect asks for it — and most won’t even think to ask. Why?
- The sales process will rarely involve just one decision maker. In a typical company with 100-500 employees, an average of 7 people are involved in most buying decisions. Even with smaller companies, multiple people will play a role in decision-making.
- 77% of B2B purchasers said they won’t even speak to a salesperson until they’ve done their own research.
- 50-90% of the buyer’s decision-making process is complete before a buyer interacts with a sales rep.
What is the takeaway from this?
- Despite appearances, it is highly likely the project leader you are dealing with — even if it is the owner of the company — is NOT the only financial decision maker.
- You may never have the opportunity to persuade the actual decision makers not to automatically say “No” because of capital budget issues.
- It is crucial to present a financing solution with your equipment quote so it gets in front of every player in the decision-making process.
Minimum time investment = maximum potential.
Effective selling is about asking the right questions. So the question is not “Why offer financing?” but rather “Why not offer financing?” It is a powerful tool that is fast, easy, and free to use.
Offering leasing won’t convert your cash paying customers, but it can capture sales you would otherwise lose.
It only takes a few seconds to include a lease proposal with your equipment quote.
Our Payment Calculator is fast, free, and easy to use.
Just enter the equipment cost and click “Calculate” to generate a .pdf proposal.
You don’t need to know anything about financing – We will answer your customers’ financing questions so you can focus on selling equipment.
Why does working with a specialized lender matter?
The sales process is hard enough without working with a generalist lender who doesn’t understand the packaging industry.
Extensive, industry-specific knowledge can impact the lender’s ability and willingness to
- Work with standard, packaging industry-specific practices such as deposit requirements and lead times.
- Understand the challenges you and your customer may encounter during the packaging equipment acquisition process.
Why is American Packaging Capital the specialized lender you need?
- We understand the packaging industry and the unique challenges you face selling packaging equipment.
- We are the only finance company in the USA exclusively specializing in packaging equipment.
- We have over 25 years of experience in packaging equipment financing.
- We have funded more than $800 million in packaging equipment.
- We have worked with over 500 packaging equipment suppliers nationwide.
- We can accommodate vendor deposits and understand equipment lead times.
Our experience and established, trusted reputation in the packaging equipment industry means we have a vested interest in delivering the best value and service.
Call us for personalized service.
But if you have questions or just prefer to work with a live person, we are always here to help.
Our team understands the logistics and challenges you face when selling packaging equipment. We are happy to walk you and your customers through the financing process.
Call us at 888-692-6722.