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“If You Offer Financing In Your Advertising” PDF Print E-mail

“If You Offer Financing In Your Advertising”

 

If you sell anything that is expensive enough to offer financing…..Listen up.

 

Credit limits on new credit cards are being lowered. Credit restrictions are tightening. And it’s very possible that we are in a recession.

 

In 1981 we had a recession. I was selling vacuum cleaners in people’s homes. At first, the credit tightened (sound familiar?). Credit scores had to be higher to get approved.

 

Then I was told (by my finance company) that they were only accepting home owners….then home owners with lots of equity...and then…

 

They pulled my financing.

 

I had only one financing source, and so I was out of business. Over 90% of my sales were financed, and I lost my finance source.

 

I financed some myself, and made money by financing other dealer’s sales.

 

But here is the lesson;

Never only have one finance source. I have three finance companies that I can submit sales to. I have three different credit card processors. I pay a small monthly fee to keep the credit card accounts alive. Why do I go to the trouble?

 

Because if one customer creates a problem, I could lose my financing or credit card processing. If I get a rash of disputed charges (very unlikely) I could lose my financing or processing.

 

If company “A” decides to pull the plug, I have company “B” waiting in the wings.

 

And think about this; In a recession….it will be much harder to get set up with financing or credit card processing, that at other times.

 

So the lesson here is; If you only have one source of financing...get another one...quick.

 

If you only have one credit card processor...get another one ...quick.
 

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Reviews from Amazon.com.

Your Survival Guide to Ad Reps Who Don't Know Any Better!, January 23, 2010

By Gloria Steinman "Obsessive Compulsive Book Re... (Sandusky, OH)

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If you have ever been approached by an ad rep, you know the feeling of confusion and frustration. They tell you how much your business will increase and how you will get SOOO many new customers. Then you run the ad, nothing happens, and the rep comes back and tells you to run it again to see if it works next time. Surely if you continue to run the ad SOMETHING will happen!

After months of spending hundreds or even thousands of dollars, many business will throw up their hands and proclaim "ADVERTISING JUST DOESN'T WORK!"

 But what you don't know, and to be honest the ad rep doesn't know it either, is that the simple act of purchasing an ad does not mean you will get a response!

There are tried and true "rules" to advertising and Claude's book is very good at laying those "rules" out in an easy to understand way. It is not the last book you should ever read on advertising but it can be used to IMMEDIATELY improve the response to YOUR advertising!

 I highly recommend this book to any small business that operates on a local level.

The $20 bucks you'll spend (at Amazon.com) on this book will be well worth it and if you actually put some of Claude's principles to work you could see a return on investment worth thousands of times the cost of this book! Claude has spent 10 years in the school of harsh reality and has tested and tweaked these methods for the survival of his own business.

Claude Whitacre is My Hero!

 An Incredibly Valuable Book!, January 19, 2010

By Mike McGroarty

The Unfair Advantage is an excellent book that every small business owner should have on their desk. Not their bookshelf, on the desk, and the pages should be dogeared from constantly refering to this book. All businesses need to and should advertise aggressively and this book really does give you an unfair advantage by teaching you how to craft your advetisements, and where and where not to place those advertisements. Advertising that doesn't work is expensive. Advertising that REALLY works is libertating and will take your business and your life to the next level and beyond.

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