9 KEY WAYS TO WIN THE DEAL AND OUTSMART COMPETITION
- Have knowledge of the lessee’s needs which involves recognising that each customer is different from others. Gaining the comprehensive knowledge about customers’ needs and preference, sets the stage for outsmarting competition.
- Understand the benefits of leasing and how they apply to the lessee’s needs
- Tailoring the lease to meet customer’s needs by providing varied options to cater for the diverse needs
- Communicate all the benefits of leasing to potential/existing customer through website, marketing collateral, or verbally during visit to potential customer. A Lessor should prepare a cohesive and comprehensive presentation that list all the benefits that the lessor can deliver
- Possess attributes to endear you to the customer e.g. knowledge of customer’s business, experienced staff, integrity, fair terms and conditions, flexibility, responsiveness, diversified product offerings, efficient service etc.
- Provide answers to objections e.g. leasing is complex, leasing is more expensive, preference to pay cash, psychology of ownership etc.
- Selling cash flow and present value versus selling interest rates – a large number of lessees are cashflow conscious. Present value is expressed in monetary terms and it’s use in a lease comparison is easier to understand than interest which is a percentage. In any case, rentals are paid with “money” not with percentage.
- Strive not to win the deal with lowest rate but to get the price right.
- You must be seen by the potential Lessee as problem solver, identifying and solving pain points