Lease-to-own financing can help you generate more revenue and expand your customer base. But you’ll only realize lease-to-own’s full benefits if you promote it to your customers.
Lease-to-own financing can help you reach people who don’t qualify for traditional financing. Nearly half (42%) of Americans say they were recently denied credit because of their credit score.1 Don’t let these customers – and potential sales – walk out your door.
Lease-to-own financing enables your customers with subprime credit to make budget-friendly payments over time for merchandise they need or want now. More financing options means access to a wider range of items and brands. As a leading provider of lease-to-own financing, Snap Finance works to make the process as transparent and efficient as possible for consumers.
What’s in it for your business? Offering lease-to-own financing can help maximize sales, drive traffic to your store, and increase customer retention. Plus, there’s no risk for merchants like you. If a customer defaults, the lease-to-own provider takes the hit – not the merchant.
Let your customers know lease-to-own financing is available at your store to help achieve maximum results. Here are three tactics for effective lease-to-own promotion.
1. Add lease-to-own messaging throughout your store
Point-of-purchase (POP) materials are essential in promoting lease-to-own. Display POP materials, such as signage, posters, brochures, and banners, inside and outside your store so shoppers know you offer financing that works for them.
Snap provides a variety of attention-grabbing displays for store owners to alert customers at various touchpoints, from driving by your store to browsing or waiting in line, that lease-to-own financing is available at your store. With easy access to POP materials, you can choose the displays that work best for your business.
2. Build awareness through marketing
Marketing campaigns are an easy, effective way to promote lease-to-own financing. Not sure where to start or too busy running your tire business to do so? No worries. Snap can do your marketing for you.
All lease-to-own Snap Partners are automatically enrolled in the EDGE program. This multichannel marketing program communicates and engages with consumers through targeted email, text messages, and direct mail campaigns to drive new and repeat business to your store. It’s a competitive advantage that can significantly increase your secondary finance sales.
3. Encourage customers to apply early in the sales process
When shoppers are in the market for a big-ticket item such as a new set of tires, it can be helpful for them to know as soon as possible that financing is available. For example, simply saying, “This will cost $1,500 today or we can see if you can split the payments by applying for our lease-to-own financing,” can get the ball rolling.
If they’re approved earlier in the shopping process, they may be able to get the exact tires they want and need, rather than settling for less or walking away empty-handed. Snap offers approvals up to $5,000, with a $2,900 current average approval.
Give your business a competitive edge
Offering and promoting lease-to-own financing opens the door to higher sales, stronger customer relationships, and improved bottom-line results for your tire business. If you’re ready to make this important financing option available to your customers, visit Snap Finance. Learn how our lease-to-own financing can work for your business.
