Roofing customers want financing options, but not all roofers offer them. Roof financing is the second most popular payment method among homeowners. However, only 67% of roofers provide financing as a payment option.
This market gap can be a huge opportunity for roofers to step up and fill customer needs. Providing roofing financing plans gives you a competitive edge so you can stand out in your market.
In this blog post, we’ll review why roofers should offer their customers roof financing options.
Benefits of New Roof Financing & Roof Replacement Financing
Roof financing plans offer several benefits for business owners and their customers.
This simple update can enhance your company’s reputation and improve customer experience.
Here’s why you should offer financing plans to your roofing customers.
Stand Out from Your Competitors
Not all roofing companies offer roof financing options, whether new roof financing or financing for roof replacements. This gap gives you the chance to stand out from your competition. If you don’t provide flexibility to customers, they may find a competitor who is willing to work with them.
You can become the company that wins clients from competitors who don’t offer financing.
Improve the Customer Experience
Offering new roof financing can improve customer experience.
Personalization is important to the modern consumer in today’s world of one-size-fits-all. Research has found that customers want personalized experiences. Additionally, customers are more motivated to buy when they feel understood by brands.
Flexibility helps you build trust with customers and forge stronger relationships.
Increase Customer Retention
Customers are loyal to businesses when they’ve had a personal experience with them. Research shows that 75% of U.S. consumers are more loyal to brands that understand their customers.
Roof financing builds trust and loyalty with your customer base. You’re not just providing financing—you’re providing peace of mind. Research shows that once customers feel loyal to a business, they will likely stay loyal for life.
Customer retention is good for your brand and your profit margins. Research indicates that increasing customer retention by just 5% can skyrocket your profits. Businesses that boosted their customer retention by 5% reported 25–90% increased profits.
Improve Your Company’s Cash Flow
Offering financing plans can improve your business’s cash flow. Your business is paid upfront when you use a third-party consumer financing solution.
Appeal to New Clients
For many homeowners, dealing with costly roof repairs is intimidating and stressful. However, roofing professionals can alleviate part of their customers’ stress through roof financing. Flexible financing solutions make your services more accessible to a wider customer base.
This accommodation helps you meet your customers’ needs and stay within their budget. The expensive upfront cost of roof repairs may deter some individuals. Customers want to choose a payment plan based on their needs, so some homeowners may even write off roofing companies that don’t offer flexible payment plans.
Financing helps you reach a broader customer base who may not be able to afford your services upfront.
Close More Deals
If a customer is hesitant to sign off on a roof job, flexible payment options may be what they need to commit to the sale. The more flexibility you can provide customers, the greater your negotiating advantage.
If a customer needs financing for a new or replacement roof, you can explore those options with them. If you don’t offer roof financing, the negotiation ends there, and you may lose customers to roofers who do.
You can tailor the customer experience to each client’s unique needs. Roof financing gives your customers the freedom to fix their roofs without sacrificing quality.
Enhance Your Business with a Roofing CRM
Help more customers afford your services by offering flexible payment options. In turn, roof financing can help you:
- Appeal to new customers
- Improve customer experiences
- Close more sales
As a roofing contractor, you should always look for ways to improve your business. For example, roofing software can greatly enhance your business operations.
Maintaining smooth operations is easier when your roofing company has the right tools. Invest in a roofing CRM like JobNimbus to boost your business’s efficiency. JobNimbus helps roofers track projects, streamline billing, and manage sales.
