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Improve Cash Flow*
It usually only takes 24 hours for the money to hit your account after authorization, so you can quickly order materials and get to work.
Increase Leads*
You can see a 50% increase in leads (plus a better conversion rate) when you advertise a choice of payment options in your marketing materials and on your website. And you get more referrals — customers value the convenience and flexibility that payment options provide, and that satisfaction means they'll be more likely to refer their friends, relatives, and neighbors for additional work from you.
Boost Close Rate*
Offering a choice of payment options can nearly double your close rate. For example: assuming a 25% baseline, you can increase your close rate to 44% when offering a Same-As-Cash loan and a low monthly payment loan.
Grow Average Project Size*
Homeowners who choose a payment option spend 44% more on their home improvement projects. Over 1/3 of homeowners regret not spending more on their project to get the results they truly wanted. A choice of payment options helps them get what they truly want, which means more business for you.
Eliminate Discounting*
When your customer is paying cash or providing their own financing, you may feel you need to offer a discount to close a deal, eating into your margins. Or, they may decide to choose a smaller project size or lower quality products. More customers will say YES to your first estimate when you offer payment options.
Reduce Cancellations*
You can expect your cancellations to be reduced when you offer a choice of payment options to 100% of your customers, because it ties the project to you — a customer will be more likely to stay with you and not ask to delay the project to perform further research or seek additional bids. Homeowners who are approved for an EnerBank loan are 94% more likely to complete the job with you.
