What financial options do customers need?

As 2024 unfolds, sales representatives and sales managers alike are concerned that inflation, economic uncertainty, and the continued slim operating margins that healthcare and other customers are operating under will complicate, delay, or defer the purchase of the products and services that they provide.

Too often it is easy to see the glass as half full and become discouraged.

Rather than focus on what may happen and the potential damage to your pipeline, let’s find a way to provide solutions.

Looking at healthcare as an example, when considering capital equipment expense, customers have to balance the expenditure with the return. I used to advise our sales teams that they were not competing with another company alone, but with the revenue generating projects that can be viewed as a safety net to offset the challenges identified above.

But how do you compete with, say, a parking lot, a freestanding clinic, or a surgery center and get the financial team to approve an order?

First and foremost, you need to know your company’s differentiators and be confident that the users of your equipment or service see how choosing you and your products will improve their daily work or improve their financial results.

The next steps are too often overlooked, yet a key indicator of potential success.

Companies too often present their offering on a cash only basis. But what if they don’t have cash? Or perhaps you have been advised that finance will only approve a purchase when funds are available and approved.

In reality regardless of industry, 85% of Companies in the US Lease Equipment.

Companies need to incorporate financial solutions in all offerings.

Customers, like you and I, want to conserve cash and will often do nothing if cash payment is the only option. It is not the user or inside salesperson’s role to know and understand what choices they could present to finance.

From the very beginning, consider how financing options can be incorporated into your sales process and conversations with potential customers. By seamlessly integrating finance strategies into your overall sales approach, you’ll be able to overcome objections and close deals more effectively.

Some people think that financial solutions or options are only for large corporations. That is a myth that often costs companies lost opportunities. Finance options are not limited to large businesses alone. Small and medium-sized businesses can also benefit from various financing solutions tailored to their specific needs. It is important for businesses of all sizes to explore finance options that align with their customers’ goals and consider the resources needed to support their sales efforts and meet their quotas. If you are not currently able to offer finance to your potential customers, now is the time to explore finding a business partner that specializes in serving your market.

Med One has a 30 year history of working with vendors and their customers. We have specialized in healthcare and believe we understand the needs of both manufacturers and providers.

We have been privileged to work with some of the nation’s leading technology companies and healthcare providers. We would love to explore ways we can help you and your customers with our flexible finance options.

Med One offers more than simple rate-based solutions. We will work with you and your sales teams to customize options, we can attend your meetings, provide training, and follow up with the customer to ensure the offer meets their needs and follows their internal approval process.