As a technology solution sales professional, your expertise goes beyond the technology components of a solution recommendation and you understand it is generally not in a customer's best interest to own rapidly depreciating and constantly advancing technology like security, unified communications, video conferencing, data netoworking, IoT, etc.
But, If Ownership Is Inevitable
However, some customers cannot fathom paying and never owning the equipment. They often cling to business practices of the past or for whatever reasons, they are just simply set on wanting to own the solution you are proposing. This is a dated mindset, but serving customers is always a top priority.
You can only educate them on the merits and pitfalls of ownership so much. Once their mindset has been established on this point, many of these customers will also default to paying cash. You should feel comfortable providing another dose of education and a recommendation that will help both them and you.
Stress that you can absolutely accept a total upfront cash payment for the solution, but you will be doing them a significant disservice. Explain that a finance to own option like a $1 buyout will actually be a cheaper way to own the equipment and share the following blog article detailing this point.
Benefits to Avoiding A Cash Sale
In addition, from your perspective, selling the solution via a $1 buyout lease in place of a cash purchase provides the following benefits:
- Helps prevent giving customers the sticker shock of a cash purchase
- Creates a more manageable way for customers to pay
- Is actually less expensive than a cash purchase
- Makes it easier to bundle and sell multi-year support
- Increases the ability to build recurring revenue and future business