How moving from equipment leasing to equipment finance opens the door to a new marketing message

Wanna talk through how an insight like this can impact your company?

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Good ‘ole FMV leasing.  Weathered all the storms and still showing value across the business landscape. That said, the climate has most certainly changed. Most equipment finance companies have fully evolved to more comprehensive lenders for capital equipment and even software or other “soft assets”. And as the market continues to struggle coming up with messaging that differentiates one finance company from another, we have lots of ideas.  But one related to this evolution you might need to think about.

The time-honored objections you fight are: We don’t lease. We pay cash. We hit our revolver. We term-loan it form the bank.

You spend more time fighting these obstacles than your competition in the industry. In actuality, most of the time they do lease something, they don’t pay cash for everything, hitting the revolver is a horrible idea and gobbling up exposure with your working capital lender for term loans is almost as bad. So how can a slight bend on your marketing and sales messaging open a few closed doors?

Equipment Finance: A Diversification Story

What if you paid cash for your software, did term loans for your manufacturing equipment, employed 20% balloon capital leases for your forklifts and operating leases for your transportation assets? Diversification. Depending on the company’s situation, they can leverage the different finance structures to reduce secondary market risk, stay on the cutting edge of technology, orchestrate cash flows, maximize precious budget dollars and minimize maintenance.  Not to mention all the statement and tax finagling.

You are giving your clients financial tools to achieve a more customized ROI/ROA. And if you’re thinking…we already do this…you aren’t going on enough sales calls. Too few sales folks in our business are being this consultative. So let’s help ‘em out.

  1. Target all the negative Nancies in your database that “pay cash” or are take one approach to all asset acquisition.
  2. Send them a series of emails with articles educating them asset finance diversification
  3. Send an easy to understand infographic explaining the benefits of diversification in your asset acquisition strategy.
  4. Develop a “consulting process for asset diversification”: This is basically a marketing name for a well designed pre-call plan. Ask not just the finance geeks, but the asset users and purchasing to be part of the process. Offer the consulting service for free in your email campaign.
  5. Read the email results, follow up on the leads, offer some “consulting” and close some deals with people that historically wouldn’t take your call.

You become massively differentiated from the competition because you are an equipment FINANCE company and not just an equipment LEASING company. You are also integrated in multiple levels across the organization and are so ingrained in the solution, your competition can’t get in (at least for a while). Go get ‘em. If you need help or just want to talk about how it might work…give us a holler.

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