Sales Make it Happen
Sales Isn't Just for the Salesperson
by Robert Teichman, CLP
Finally, the equipment is verified, the deal is booked, the vendor and the salesperson are paid, and the documentation department closes the file. Now the customer will be the responsibility of the billing department for the rest of the lease. Right?
Success in the equipment leasing business depends on continuing to increase the number of transactions written. You can achieve that by writing many new deals, and constantly trying to find new customers, or you can reach the goal by developing and improving relationships you have already established.
Many salespeople in our business believe that equipment leasing is a "deal" business. It isn't. It is "relationship business." Studies have proved time and time again that it is far easier and less costly to sell to existing customers than to develop new ones.
But how do you maintain relationships when most companies buy equipment only occasionally? Certainly, you stay in close touch with your customer. You call your contact person often. You know when the company makes decisions on its capital budget and you contact them then. But did you know that your documentation officer can be your best friend? After all, it is usually the documentation person who is the last one to talk to your customer when the lease is booked.
Since some leases take considerable time to close, your customer may have decided to get some more equipment by then. During the last conversation when the lease closes, the documentation officer could ask if the customer is satisfied with the service, and could then ask if the customer has any additional equipment financing needs. You might be surprised to learn that more equipment is on its way.
Sometimes we lose sight of the fact that selling is not limited to the salesperson. Closing a deal requires the cooperation of Sales, Credit and Documentation. And while the salesperson acts as the Relationship Manager, the other members of the Production Team do their part to help retain the customer's good will and promote future business.
In a successful equipment leasing company, everybody sells.
Bob Teichman, CLP
Teichman Financial Training
"Education & training for leasing and financing personnel"