Matt Chatts 'After the Show' Q&A | How to Present Payment Options to Customers
After the show, one contractor from Ohio asked:
"I need to know how to present payment options to customers before I know which lender for which my customer will qualify."
Host Matthew Bratsis started off by saying explaining that this was an issue brought up when OPTIMUS Financing was initially getting started, this question came up all the time. In response, the OPTIMUS team built a customer pre-qualification process that will give contractors insight into whether customers will qualify for prime, near-prime or subprime lending.
"And those are three very different customer types, with three different sales processes," said Bratsis. "You don't need a social security number or any other information other than the customer's name and address, and you can get them pre-qualified inside OPTIMUS."
However, Bratsis remained realistic that many OPTIMUS contractors aren't able to take the time to run a pre-qualification. "In the sales process, you need to give the customer a window of 'hey, we can get you in this system for somewhere in between $150 and $195, depending on your credit," explained Bratsis.
Bratsis explained further that customers are rarely surprised to find out they have bad credit. If a customer can only get approved at the highest rate, most of the time they are simply happy to be approved.
"Another advantage that's going to offer you, is if the customer comes in at $150, a contractor now has the opportunity to upsell them to get them within that window of about $175," added Bratsis.
'Matt Chatts' is a contractors' best resource for staying informed in the world of contractor financing. All contractors are invited to join Matthew Bratsis, Donna Decoster and their guests to interact and ask questions about the often confusing world of financing in the pursuit of better customer payment solutions.
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