Instead of giving your customers or potential customers a choice between you and your competition and having them choose the other guy, have them choose you. Michelle Dunns new book Become the Squeaky Wheel, says creating a credit policy can have surprising results. According to Dunn, a leader in the debt collection industry, some customers, when given the choice, between signing a credit application or paying at the time of sale, mostly choose the credit application regardless of who has the cheaper prices. It is true that some customers will buy more from you if they are approved for credit and have more time to pay. It makes it easy for them to place orders and receive a bill, rather than have to pay at the point of sale. Like everything else, the easier you make it for the customer to buy from you the more sales you will have. Customers want things to be easy, fast and instant. If they are credit approved and can call and order and have the item quickly, then pay when they receive a bill, they will be more likely to order from you than someone who doesnt offer that option. Resulting in your business making more money and more sales. |
