How to Get More Customers by Using GE Money Consumer Financing
2011-June-24, 2:43 PM
GE Money interviewed several business owners and affiliates who used GE Money consumer financing in the US. Read their stories and success on how they increase store traffic with GE Money consumer financing program.
Does having a GE Money consumer financing program increase store traffic?
Laura Heneveld (Forest Grove Auto): I definitely think that we get more traffic in our store as a result of our financing that we can offer. That makes us very competitive in a competitive market.
Richard Akel (Carpet One): If we don't have consumer financing business, our sales would be 30 percent if not greater. It's that important to our business.
Jay Jacobi (Jacobi Sales, Inc.): I think it does increase store traffic. And in that offering different types of financing and with GE Money zero interest anywhere from 12 to 36 always grabs people in the showroom.
Terry Coffin (Beards Outdoor Power Equipment): I think financing is becoming more important. All the advertising that you see whether its tires, matresses, everybody is offering financing. So if we don't have it, we are out of the game.
How do you promote the fact that you offer consumer financing?
Michael Bishop (Factory Direct Appliance): We offer financing through whether be through a direct mail or email blast or something. And we think that definitely plays a big part in our store traffic.
Craig Carpenter (Custom Remodelers): Online is getting to be an avenue of new generation for us.
Laura Heneveld (Forest Grove Auto): Every year, we do a business showcase in Hudsonville for all the local businesses where we draw a lot of new customers and we make sure that we always have a financing information on hand and available.
Jay Jacobi (Jacobi Sales, Inc.): We promote financing to our customers through TV, local newspapers, and also radio ads to get people in our store.
Does consumer financing give you a competitive advantage?
Richard Akel (Carpet One): If you're looking at people running ads. You have an ad that has a sale or tv ads that doesn't mention financing. And then you mention the you've seen an ad that has 3 years no interest and a sale. I'm a consumer.. I know where I'm gonna go
Terry Coffin (Beards Outdoor Power Equipment): GE Money allows us to broaden our customer base because it allows us in our advertising to offer low monthly payments and when folks see that, they'll come in to the store and it allows us to offer something that normally they woudln't think they could afford.
Laura Heneveld (Forest Grove Auto): Anything that will give us an edge over other business which financing does is a big advantage to us.
This interview is brought to you by GE Money's "Real Talk Ideas Worth Talking About".
