Why Offer Credit Facilities to Your Customers?
Wednesday May 20th, 2020
Understanding the Benefits of Offering Credit to Your Customers
At Duologi, we partner with businesses from all kinds of sectors and industries to provide a range of flexible credit facilities for customers.
Browse through a few of our client case studies, and it’s immediately clear that each company we deal with is fundamentally unique in some key aspect of its business model, market position or customer base. To date, we’ve worked to develop a range of bespoke financing solutions and credit packages for businesses in all manner of specialised sectors, including:
Unsurprisingly, that’s why we’ve never believed in a ‘one-size-fits-all’ approach to offering customer finance. It’s also why you might be wondering exactly how a credit-based point-of-sale finance solution works for your particular business – so that’s precisely what we’ll be outlining here.
There’s a lengthy and compelling list of reasons to offer customer finance with Duologi, so let’s start with some of the most immediate impacts:
We may as well address the bottom line first! Offering credit facilities for customers means an uptick in successful sale transactions for you. In particular, popular credit options such as 0% finance or interest-bearing packages remove many of the most common barriers to completing a purchase for a huge range of prospective buyers.
Whether it’s in terms of reduced online basket abandonment, or more effective upselling in-store, research shows that being able to provide shoppers with a range of flexible payment solutions at point of sale is an extremely attractive proposition for most people.
Increased customer satisfaction and loyalty
Speaking of research, customer satisfaction surveys reveal that around 42% of shoppers believe more retailers should offer a wider range of finance solutions. Moreover, 78% are more likely to return to a retailer after a positive experience with using their point-of-sale credit options.
If customers frequently want the option of a credit facility, then being able to offer it immediately puts you in a stronger position – not only to close on a given deal, but to leave your buyers feeling more empowered and satisfied by the whole experience of shopping with you. This leads directly to a far better chance of earning their repeat custom, and helps you retain valued customers for years to come.
A head start against the competition
Returning to the statistics once more, it’s also worth noting that a full 1/3 of market research respondents cited themselves more likely to spend with a business that offers finance options for higher-priced items or services. In short, the availability of flexible credit facilities can absolutely be the reason a shopper chooses you over a competitor.
Again, it’s not just about expediting the customer’s journey from consideration to sale – it’s also about demonstrating a fuller understanding of their needs. Doing so helps to nurture lasting relationships and retention rates, giving you a clear path to continued future growth in an increasingly crowded, fast-moving and competitive marketplace,
We’re a forward-thinking, digital-first provider that works closely with your brand
When you choose to partner with Duologi to offer a point-of-sale consumer credit facility, you get the benefit of an all-in-one service. In addition to our vast experience in the traditional customer finance sector, we’re also a tech-minded provider that fully understands the unique challenges and opportunities of the online retail landscape.
We spend time really getting to know your business and the financing models that will work for you, and we’re always happy to put together a bespoke options package where it’s likely to best suit your customer needs. Importantly, our seamless integration systems mean your cash flow isn’t interrupted in the slightest – you still receive payment up front and in full, while we manage the customer’s credit agreement on your behalf.