Author: chargeafterdev

Nowadays, companies have possibilities to offer their customers different financing options. ChargeAfter is a financial platform that provides businesses with a Buy Now Pay Later option, leading them to get more new customers on the market, increase their income and average order value.

Advantages of Financing for the Customers

There are examples of big companies, which benefitted from a Consumer financing system. Point of sale financing is always a great way out of a situation when a customer doesn’t have enough cash to pay for a product. As more clients are using POS financing these days, that is where ChargeAfter comes in with the BNPL solution for them, to be able to split their purchases over a couple of months, instead of paying them all at once.

A financing platform, such as ChargeAfter, is a new opportunity for the buyer to get different offers from the lenders and finance their needs.

How BNPL Converts More Customers and Increases Sales

All the businesses are having the same issues when it comes to converting customers, companies see how their consumers are adding the products to their carts online, or checking them at shops and still leaving “empty-handed”. Most of the time, the problem is the financial situation at the time. The buy Now Pay Later system has improved those situations for the businesses and the customers.

When the buyers are using Consumer Financing options, they do not have to think about how much money they have at the moment, which gives them the possibility to get a product of a higher price and quality or purchase more quantity of it. With last research, we see that financing platforms are increasing the sales amount for the companies, showing us how businesses are becoming bigger and stronger with the help of POS Financing and the BNPL option.

Higher Average Order Value (AOV)

When you can split the payment for your customers, you are making your merchandise more affordable for them, giving them the possibility to purchase more expensive products.

Many big companies show that after implementing Point of Sale financing in their businesses, the average order value has increased. The reason behind it is that the BNPL gives the consumer the power to avoid fitting the budget process and they can simply purchase the products of their needs. So, if the customer had to buy a product that costs the amount they had at the time, now they can widen their interest, and with the help of Consumer Financing, they can purchase more. It is a great example of how BNPL benefits both companies and consumers and how comfortable solution POS Financing is.

Getting New Customers for the Company

When any customer is looking for an option to purchase a product or a service, they’re always trying to find the best offer available on the market. If the business is offering Point of Sale financing from their side, they have a much higher possibility to be the company that customers need. Consumers prefer to choose the Consumer financing option over paying the price at once.

Companies that have a Consumer Financing option have an advantage over their competitors in attracting new customers. To put it in simple terms, if the buyer has two options, to pay the price totally, or split the payment using BNPL. Even in the situations when the customer has a total amount, they prefer to use the Buy Now Pay Later option, as people don’t want to spend all their finances at once and prefer to save it for emergencies.

Returning Customers Make Businesses Strong

Point of Sale financing programs encourages existing customers to return to businesses and reorder the products or make even bigger purchases. Everyone knows that a happy customer is a key to companies’ success. So, when the consumer already knows how comfortable BNPL is, and how they can use Consumer financing, they will never go to competitor businesses who might not offer Buy Now Pay Later option and will always be the returning customer of the company.

As with ChargeAfter, any business can implement the BNPL option, they can know for sure, that most of their customers will come back to reorder and experience the comfortability of POS financing.

With All these advantages of financing, ChargeAfter can give any company great value, offering them the possibility to close more sales and give their customer a much better experience with Buy Now Pay Later option.

Want to learn more? Reach out to us here.

Before ChargeAfter

During an interview with The Fintech BluePrint, Meidad Sharon, CEO of ChargeAfter, a top worldwide lending platform, discussed how ChargeAfter was founded and how the demand for consumer financing and BNPL drove him to build one of the best global financing platforms in the world.  Meidad discusses how at the time he worked at SafeCharge Nuvei, the financing and payment market was in desperate need of a smart and quick platform for consumer financing. The right and effective strategy was therefore required to create the firm that would serve as a link between retailers, customers, and lenders and assist them all to have the best possible shopping and business experiences.

What was the best course of action? The key concerns at the time, according to Meidad, were identifying which methods would be successful and figuring out how to apply them. Which customer segment should you target, and how can you convince them to buy your products? How to move your business on the proper path and what the next steps are. The most important step after strategizing is to observe how your plan performs in practice and which market segments it affects. The solutions and the secret to success are revealed in the first results.

Why was ChargeAfter necessary

Meidad Sharon discussed the inspiration behind one of the greatest BNPL Fintech companies in the globe during an interview. Speaking about his experiences while working at SafeCharge between 2010 and 2016, he described how businesses requested consumer financing options like loans and credits to increase sales and the number of customers they had. The prior numbers were incredibly low because only a small portion of customers who were browsing internet shops made any purchases.

“Only 3% of the consumers that are reaching the website end up buying”, said Meidad during the interview.

Due to the rapid expansion of e-commerce and online stores, Fintech businesses have to be established to meet the demands of both customers and business owners. There were two key causes behind that, as Meidad stated. The ability to create a global lending platform to provide consumer financing, and secure payments, because fraud was on the rise, and give all parties the fastest shopping experience was made possible by two factors: first, the innovators became the mainstream on the market, and second, the customers became more sophisticated and demanding.

Meidad responded that the payment is always the end of the tunnel in whatever type of business when asked why he picked the consumer financing and BNPL fields. Retailers, customers, and lenders are the three main parties that make up a global lending or financing platform. One of these parties constantly creates market opportunities, giving financing platforms the chance to expand while also assisting other businesses, from local to global ones, to achieve success. According to Meidad, the path was challenging but intriguing because it took time to develop the best platform, and using Visa and Mastercard’s features and services was essential to resolving issues and making the platform the market leader.

How has it started

Meidad also discussed the origins of the business and the first stages of success. ChargeAfter launched quickly to receive the first reviews since it combined financing expertise with experience working with various customers and merchant types. As he previously stated, the initial experience was quite exciting, the business was focused on the market and the requirements of retailers and customers. The next stage was to develop the product in light of feedback from the initial phases and expand the distribution of the service to new customers and lenders.

Where is ChargeAfter Now?

Meidad talked about the challenges ChargeAfter faced and the current difficulty they are working on. The majority of financing platforms were still rejecting 70 percent of applications. There were so many consumer financing choices, such as loans and installment payments, accessible on the market. There wasn’t a platform that would offer every customer the same service due to the various local restrictions that apply in various nations. As he noted, the majority of funding platforms just addressed specific aspects of problems, like prime consumers problems in the US, or near-prime credits in Canada, rather than the root causes.

“There are great lenders out there, but the market is disconnected, each lender is solving the part of the puzzle, but not all the puzzle.”, stated Meided Sharon during an interview.

Therefore, there was a critical need for a consumer financing platform that would link lenders and merchants so they could provide various forms of retail credit or Buy Now Pay Later services to the public, allowing ChargeAfter to expand its loan rate from 20 to 80 percent. It was crucial to be able to assist clients from various locations while ensuring that they received the consumer financing they required. These were the driving forces for the creation of ChargeAfter, which allowed him to use the greatest features of each lender, provide customers a far higher chance of approval in BNPL, and provide retailers with the best ways to boost sales and maximize AOV (Average Order Value).

This led to the creation of ChargeAfter, the market leader in consumer financing, which has reputable lenders and allows the financing platform to provide diverse services to retailers and customers so they may obtain BNPL loans with the payment plans of their choice. As Meidad has stated, he intends to raise the number of lenders to 70 by the end of this year and is already extremely near that goal.

The entire spectrum is currently covered by ChargeAfter. Different BNPL white label services, card installments, visa installments, and non-card choices are provided by lenders. working with major financial institutions like Citizens Bank or Wells Fargo, the US leasing companies, and offering business financing to businesses. Each customer can thus choose from offers that are relevant to them.

Economics of ChargeAfter

Meidad also discussed the business’s economics and the source of its income. He compared ChargeAfter’s actions to what Visa and MasterCard accomplished decades ago, when they connected all the banks in one place and enabled the use of a single card for a variety of services.  ChargeAfter is doing the same by linking lenders with the merchants. It is charging lenders platform fees based on transaction volume in order for them to use the financing platform of ChargeAfter and maintain connections with numerous merchants across the world.

How does it Work

ChargeAfter’s financing platform is simple to use for retailers thanks to integrated systems on websites. They only need to download it and use it in their stores. Additionally, it is simple for the customers because they just need to complete the application once, and the system will match them with the best lender. The platform’s responsibility is to offer them a safe and appropriate solution to all BNPL regulations and limitations.

To accommodate the growing number of customers, the system must also be modern and functioning effectively. To be secure and up to date, the corporation invests heavily in it and tests it every month.

Upcoming Trends

The CEO also discussed future trends in the industry. According to Maided, they can predict what would happen based on the statistics they have. There are two major market trends on the horizon. First, there is an increase in loan demand. To fulfill their needs and overcome obstacles, consumers will want more credit. In the future, more consumers will seek consumer finance since BNPL white label services will be increasingly necessary for the clients as the cost of goods and services rises daily.

Second, because lenders would have stricter loan requirements, the availability of credit will be difficult. The same thing occurred during the COVID-19 pandemic when loan approval was cut in half. According to Meidad, the same scenario will occur, and certain loan organizations will either exit the market or fail to adapt to the new trends.

ChargeAfter will play a crucial role in preserving the relationship between lenders and retailers so that consumers may still choose from a choice of BNPL options for their consumer credit. However, to qualify as prime clients and receive prime offers from the financing platform, customers must maintain the highest possible credit ratings.

Meidad Sharon concluded by saying that the ChargeAfter worldwide loan platform will continue to function as a connecting network to aid customers and retailers in getting through this time.

Want to learn more? Reach out to us here.

Building customer trust is crucial for the success of your online store. Consumers who trust brands are far more likely to purchase. Furthermore, trusting customers are far more likely to return to make their second, third, and fourth purchases, and so on. Return customers that are loyal form one of the cornerstones of profitable online selling. They are valuable assets, and in this article, we discuss how to develop them. We showcase five ways to build consumer trust with your online store and turn once-off consumers into long-term shoppers.

1. Introduce Consumer Financing Features

Consumer financing features, or buy now pay later (BNPL) services, are integrations that enable shoppers to access loans from the websites that they shop. Instead of having to find financial aid elsewhere, consumers can use the integrated consumer lending platforms to secure financial support during the checkout process. This creates shopping efficiency and increases the likelihood of making a sale. The consumer-facing benefits of BNPL solutions build customer trust. The easy, affordable, and quick access to shopping financing empowers them, and they perceive this added value as an opportunity to connect with the brands that offer consumer financing. 

2. Improve Your Customer Service

Customer service is critical to building customer trust. A great customer service strategy will drive positive interactions with your brand community, showcasing the value to your existing consumers and those that stumble upon your online store for the first time. You should consider ways to improve all aspects of your customer service, from your time to first response to your time taken to resolve consumer problems. An assessment of these key performance indicators (KPIs) will provide you with insights to make improvements to your customer service strategy. This consistent approach to optimizing internal organization will enable you to build stronger and more trustworthy relationships with your shoppers. 

3. Highlight Your Achievements

Online stores should be proud of and showcase their achievements via their marketing channels. From social media posts to embedding Trustpilot reviews into your website pages, you can start making your most recent successes known to the public. This not only attracts new customers but showcases to your existing customers that you are consistently delivering on your brand promises. Highlighting your achievements is a great way to build customer trust and leverage the positive brand associations and perceptions that you have developed over time.

4. Take Accountability for Your Failures

In the same way that it is important to highlight your successes, you should also take accountability for your failures. There is no such thing as a perfect brand, and owning up to your mistakes is the nature of online selling. Instead of disregarding negative comments and letting uncomfortable leads from falling by the wayside, you should actively manage the negative information about your online store online. You should have a person or team of people, typically the marketing team, engaged with consumers online to answer their problems and provide support when failures occur. This transparency will win the trust of your customers.

5. Ensure You Are Always Reachable

Online stores should ensure that they are always reachable to build trust with customers. The modern consumer is searching for the most efficient services, and your store should deliver efficiency in your communications. You can install live chats or seek the aid of a call center to answer your consumers as quickly as possible. You should aim to reduce the time that it takes to respond to consumers, and deliver 24/7 communication support if you run an online store to successfully build customer trust.

Building trust with your customers is important for developing a successful online store. From introducing consumer financing to highlighting your successes and taking accountability for your failures, you can start building a sustainable and profitable brand community built on loyalty.

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Abandon cart rates are a key eCommerce metric to consider when assessing the performance of your online store. This data can give you a clearer idea of how consumers are engaging with the checkout stage of the consumer journey that your store is creating. It can share insight into what consumers are doing at the checkout stage and why they are turning away from purchases. With a better understanding of why consumers scrap their carts, you can make smarter decisions with regard to your checkout page and the consumer journey. In this article, we share the four most common reasons consumers scrap their carts and how you can recover them.

1. Unforeseen Costs at the Checkout Stage

If you are not upfront about the costs of your products and services, then consumers are likely to abandon their carts. As consumers arrive at the checkout stage, the final cost for their purchases should not exceed the expected cost as seen in the journey up to the checkout stage. For example, delivery fees should be fairly responsible and not include any complex fee structures. You should make every effort to ensure that consumers are seeing a cost somewhere in line with the perceived value of their purchases.

2. They Are First-Time Buyers

First-time buyers need to take a leap of faith for their first purchases with online stores. They may be unfamiliar with your store, a factor that reduces their trust in your service delivery. First-time buyers are difficult to attract without positive online reviews and comprehensive information about your brand, delivery services, and other factors that influence consumer trust. You should ensure that you have the necessary information and online reviews to encourage first-time buyers to make purchases on your online store.

3. The Checkout Experience is Convoluted

When consumers are ready to buy, they will arrive at your checkout page to complete the order. If the checkout page is not up to industry standards, consumers will abandon their carts. You should ensure that your checkout page is simple to use and you can improve the odds of increasing sales values by cross-selling and upselling via the checkout page. These strategies are popularly used by eCommerce stores to ensure that consumers not only purchase their carts but purchase more expensive carts.

4. Payment Options Are Limited

Different consumers shop differently and providing many payment options is the best way to satisfy the diverse spectrum of online shoppers. Payment options like Visa and Mastercard are essential, and consumer financing payments are proving popular for their ability to add additional value to consumers. The introduction of these payment options will positively impact your abandon cart rates.

How to Reduce Abandoned Cart Rates: Consumer Financing

You can reduce the rates at which consumers abandon their carts by introducing consumer financing integrations into the checkout stage of the consumer journey. Consumer financing platforms, like those offered by ChargeAfter, enable businesses to offer customers financing at the push of a button. This financing can be used to purchase their carts, facilitating a quick and simple process whereby to acquire their purchases. The ability to provide shoppers with the simplest ways to reduce pain points such as online financing is a surefire strategy to improve abandon cart rate metrics and have more consumers making purchases.

In the world of online selling, abandon cart rates are one of the most crucial marketing metrics to understand as they provide insight into your shoppers’ behaviors at your checkout page. You should understand the common reasons consumers scrap their carts and use consumer financing platforms to reduce the negative impact of this metric on your eCommerce success.

Want to learn more? Reach out to us here.

Social media marketing is an incredibly powerful but time-consuming digital marketing activity. Social media management tools enable eCommerce stores to be more efficient with their social media marketing, enabling them to reduce the time and cost of allocating resources to this area of digital marketing. In this article, we highlight five social media management tools that your eCommerce store needs to optimize your social media marketing. 

1. Best Tool for Design: Canva

Canva is a free or paid to use tool that marketing teams can use to make social media design more efficient. The platform simplifies the design process with free stock imagery, visual elements, and templates to manipulate for social media post creation. The tool is also used by designers for social media tasks to make their processes a lot quicker. Canva is incredibly powerful in the way that you can use existing templates with small but significant tweaks to create visually striking social media content.

2. Best Tool for Analytics: HubSpot

HubSpot is a powerful social media tool that provides comprehensive social media analytics and digital marketing metrics to optimize your online presence. The brand offers an integrated platform that ensures social media management, sales, and SEO activities are easy to develop and improve, contributing to a stronger omnichannel marketing presence with engaging social media content. As analytics are important for creating clear strategies, this is a tool that eCommerce stores should not overlook.

3. Best Tool for Advertising: Meta Ads Manager

The Meta Ads Manager is a tool that eCommerce stores can use to advertise their profile and products on Facebook and Instagram. The tool is incredibly powerful, offering targeting options and campaign objectives that allow marketing teams to create clear social media ads for specific audiences with distinct metrics in mind. The platform makes ad creation simple and the analytics are comprehensive, giving you a better idea of how consumers are engaging with your social media ads and where their most valuable actions are taking place. 

4. Best Tool for Management: Hootsuite

Hootsuite is a comprehensive social media management tool that allows eCommerce stores to promote across social media platforms. The tool enables simple scheduling of social media posts so that you do not have to spend time throughout the month releasing content. The platforms easy-to-use and navigate interface makes social media posting a breeze. 

5. Best Tool for Reviews: Trustpilot

To run successful social media campaigns, you can leverage consumer reviews. Consumer reviews are essential for other potential consumers understanding the benefits of your store and the quality of your products. Trustpilot makes the collection and display of positive customer reviews seamless, allowing you to express your online authority to potential audiences. Trustpilot is used by the biggest eCommerce brands, showcasing its reputation among the digital marketing industry as one of the leading review platforms.

Additional eCommerce Tool: Online Financing

While not a social media management tool, online financing services are a checkout management tool that can supplement your social media strategy. Online financing from ChargeAfter is an integration that allows shoppers to secure loans during the checkout process. These loans come with no interest and are personalized for each shopper. The ability to secure them is beneficial for the customer and they do not have to undergo credit checks for approval. This tool can clinch the sale of consumers that have arrived at your website via your social media activity.

Level up your social media management and marketing with tools that support your design, scheduling, review collection, and more. These are the top tools to support your eCommerce store, with online financing an additional recommendation to improve sales.

Want to learn more? Reach out to us here.

Buy now pay later (BNPL) solutions are becoming a mainstay feature for successful eCommerce, so much so that Visa has recognized the significance of the solution. ChargeAfter is a leading BNPL fintech company that, among others, has caught the attention of the American multinational financial services corporation for its convenient, consumer-centric service that enables efficient and effective online shopping. Visa and companies like ChargeAfter continue to offer seamless shopping experiences for consumers around the world thanks to the integration of novel online financing technologies with eCommerce businesses across the globe.  

What Working With Visa Means for BNPL

The adoption of Visa into the BNPL framework enables Visa cardholders to utilize the features of the online financing solution. Consumers can input their card details through integration at checkout to receive consumer financing from networks of reliable lenders. ChargeAfter’s partnership with Visa ensures that businesses can access a wider audience, facilitating profitable growth through broader market share. Working with Visa means that BNPL financing companies like ChargeAfter can fulfill eCommerce customers browsing the various competitive online stores for their favorite products. Visa’s plans to leverage the existing BNPL platform with in-store shopping should ensure that online businesses are more capable of facilitating traditional brick-and-mortar operations as physical retail rises. This could ensure further market penetration for brands as profitable in-store solutions can provide a reason to open up a physical store. The future of BNPL with Visa looks promising for eCommerce stores big and small that wish to expand their operations.

What Sets BNPL Apart From Other Financing

BNPL is one of the most on-demand financing solutions on the market as it provides consumers with the most online shopping benefits. In a nutshell, BNPL solutions like those offered by leading company ChargeAfter provide consumer financing options that are split into monthly installments at no additional costs and without credit checks. This means that consumer shopping decisions are not stifled by hefty interest on monthly installments and more consumers can purchase products from online stores. For the business, eCommerce stores see an increase in sales as these benefits are tremendously appealing to the modern, skeptical, and tech-savvy online consumer. 

How Easy is it to Integrate BNPL?

With the help of Visa and companies like ChargeAfter, all eCommerce stores can quickly integrate BNPL solutions that will attract consumers and encourage business growth. The integration process is seamless, requiring owners or marketing teams to contact ChargeAfter for pricing and plans. Once an agreement is arranged and payment made, the BNPL checkout plug-in is installed on one’s behalf and available to consumers in no time. The integration is then managed and monitored by ChargeAfter to ensure that your consumers enjoy a seamless online shopping experience when utilizing the consumer financing feature. Other benefits of partnering with ChargeAfter’s trusted Visa BNPL solution include reporting and analytics from the ChargeAfter team. This data reveals ways to improve an online store’s functionality to improve the consumer experience, further promoting sales and better eCommerce. BNPL solutions from ChargeAfter can be integrated on all major eCommerce platforms including Shopify, Magento, Bigcommerce, WooCommerce, and Hybris. Therefore, all online stores can utilize the integration and reap the rewards of consumer financing functionality at checkout.

The partnership between Visa and ChargeAfter provides eCommerce owners with a reliable and profitable fintech solution that enables greater eCommerce growth. The consumer financing model provides shoppers with affordable, efficient, and effective financing options at the push of a button and without having to pay costly interest or process credit checks. The benefits to both consumer and business ensure that companies partnering with ChargeAfter see a profitable return on their investment and greater sales on their online retail platforms. 

Want to learn more? Reach out to us here.

This year, more millennial and gen z shoppers have entered the world of digital retail as mobile shopping has become more convenient than ever. The modern online shopping experience is extremely appealing to younger shoppers as it saves them time and money, that they would otherwise spend on having to travel to brick-and-mortar stores. Furthermore, millennial and gen z shoppers enjoy sourcing their favorite products from eCommerce platforms that align with their interests. This is more possible through online selling as millennials and gen z shoppers have few shopping restrictions in the digital space. In this article, we provide tips and tricks on how to reach more millennial and gen z shoppers this year to capitalize on their growing purchasing power. 

Integrate BNPL Options at Checkout

According to authoritative sources, buy now, pay later (BNPL) services are incredibly appealing to millennials and gen z shoppers. This is linked to the fact that BNPL services provide the most affordable financing on the market and require very little time investment traditionally required to take out loans from a financial service provider. Furthermore, these options do not require credit checks. Most of the shoppers within this category do not have credit cards or may have low credit scores as a result of foregoing the use of credit cards as traditionally done by older shoppers. BNPL options at checkout attract this consumer category as they solve several key pain points, and eCommerce businesses would be wise to partner with the best BNPL service providers to increase their sales to this shopping segment. 

Create Interactive Content

Beyond providing an affordable and seamless shopping experience at checkout through the integration of BNPL services, eCommerce brands should create interactive content that appeals to this younger demographic to win their attention. Dynamic content like quizzes and animated graphics are extremely appealing to millennials and gen z shoppers as they are more interactive than traditional forms of media. Furthermore, the use of these types of interactive content can help brands cut through the clutter on social feeds and Google.

Choose Better Advertising Placements

Hand in hand with creating content is distributing that content via the right platforms and at the right time. eCommerce marketing teams need to understand the platforms that millennials and gen z shoppers use, especially when browsing for products within specific industries. These consumers categories are particularly active on platforms like Instagram, Pinterest, and Reddit, making these channels ideal areas for advertising placements. That said, you should analyze your key metrics to determine the best areas to approach your younger shoppers. 

Offer Better Deals Than the Competition

Younger shoppers love a good deal, so eCommerce businesses should attract their attention with specials or discounts that are superior to that of the competitors. There are many ways to distribute deals, from coupon codes to influencer referrals, so consider all avenues while developing your promotion strategy. 

Take Advantage of Email Marketing

Be sure to take advantage of email marketing to distribute any and all of your most significant pieces of content. Email marketing is one of the biggest trends in digital marketing, and it applies to millennials and gen z shoppers. You should deliver promotions and other content via an email database that you can collect using powerful email magnets. 

By integrating BNPL services at checkout, creating interactive content, choosing better advertising placements, offering better deals than competitors, and taking advantage of email marketing, eCommerce marketing teams can reach more millennials and gen z shoppers this year to improve sales and grow profit margins. 

Want to learn more? Reach out to us here.

Whether your main marketing channels include email marketing, social media advertising, or SEO, consumer financing can support your marketing strategy in several beneficial ways. In this article, we provide insight into the role that consumer financing plays in an eCommerce business and pinpoint four ways that consumer financing supports your main marketing channels. 

Consumer Financing: An Overview

Consumer financing is a term that refers to buy now pay later services offered to eCommerce businesses by leading fintech companies. Buy now pay later, or BNPL, is a modern marketing tool that enables efficient consumer financing during checkout on an online store. The tool allows customers to secure financial support when buying on websites that integrated BNPL. Consumers can receive personalized loans within a few simple steps that are far more affordable than those offered by financial service providers, with the best consumer financing platforms offering eCommerce customers zero-interest repayment plans. 

Integrating consumer financing from companies like ChargeAfter not only benefits the consumer but benefits businesses by supporting various marketing channels. Here’s how!

1. Consumer Financing Speeds Up the Sales Funnel

One of the most important benefits of consumer financing is that it provides consumers with quick access to financial support. When assessing your marketing channels, the speed at which a consumer moves through the sales funnel is a powerful consideration to analyze. Faster movement through the sales funnel means sales happen more frequently. As a result, the introduction of consumer financing to speed up customer flow through the sales funnel with positively impact the frequency of your sales. Instead of consumers leaving your website to seek financial support elsewhere, they can procure their cart within a push of a button via the checkout process. This is incredibly beneficial for sales funnel consumer flow.

2. Consumer Financing Provides Additional Value

Many of your marketing activities will aim to offer consumers additional value when they interact with your marketing channels. For example, providing free resources is a great way to attract consumers to your newsletter in which they then become part of your email funnel. In the same way, consumer financing provides additional value by improving and streamlining the consumer journey with your website. Consumers no longer need to organize loans elsewhere and spend time undergoing a cost analysis to determine whether or not their purchase is worth the long-term investment. Instead, they can receive zero-interest loans extremely easily, encouraging them to make a purchase. 

3. Consumer Financing Promotes Other Products

Your marketing channels may be designed to promote specific products, and you may struggle to find ways or resources within your budget to promote other products in your store. For example, electronics like televisions and cellphones are trickier to sell as they require more consumer buy-in. Consumer financing can alleviate this problem by facilitating the promotion of your more costly products. Customers that are interested in specific products in your store may be encouraged to make larger orders as they can receive affordable financing for these costly orders. Consumer financing works in this way as a promotional strategy, aligning with your upselling or cross-selling strategies to generate sales of expensive items in your store. 

4. Consumer Financing Creates Action

Consumer financing is the final piece in your marketing strategy that will encourage action from your consumers. If you are sharing social media ads and running Google PPC campaigns, then consumer financing can be the ultimate companion to drive conversions and increase the performance of your campaigns. Consumer financing encourages customers to make a purchase, positively influencing your advertising key performance indicators (KPIs). 

Integrating consumer financing can support your main marketing channels by speeding up the sales funnel, providing additional value, promoting other products, and creating a reason for customers to take action.

Want to learn more? Reach out to us here.