Tag Archive for: from our November newsletter

Certificate for Great place to Work. 8 years in a row

SNAP Home Finance is part of the Simply Group of Companies, and we’re proud to share that the organization has been certified as a Great Place to Work for the eighth year in a row.

This certification is an incredible honour for us because it highlights some of the things we pride ourselves on most—our culture and our focus on building meaningful relationships, whether among colleagues internally or with our dealers. These are the qualities that truly set us apart from everyone else, and it’s what allows us to continue providing the best possible support for you and your business.

But don’t just take our word for it. Check out the videos below to see what others have to say about who we are.

Landmark Home Solutions

Check out what one of our partners has to say about his experience working with us, from our industry-leading approval ratings and customer support to our game-changing All-Star Alliance program.

Bullfrog Spas

Here’s another one of our partners sharing how she was able to increase business thanks to the extra support and tools she’s gained from partnering with us, especially from our Close the Deal podcast.

The great Canadian deal showdown

What better way to ring in the New Year than with extra cash in your pocket? We’re coming to the last month of the Great Canadian Dealer Showdown, which means you’ve only got a few weeks left to submit deals for a chance to win your share of $31,000.

If you’ve been getting your applications in, you’re already a shoo-in for one of the last two monthly prizes, not to mention the $15,000 grand prize at the end of the year. Remember, the more deals you submit, the more chances you have to win easy money!

How to Score the Most Ballots

  • Approved deals up to $10,000 count as one ballot.
  • Every increment of $10K gets you an additional ballet (e.g., $10,001 to $20K = 2 ballots, $20,001 to $10K = 3 ballots, etc.)
  • Standard/regular finance applications* are worth 4x ballots.

Thousands in Cash Prizes Up for Grabs

  • $3,000 a week for the salesperson with the highest number of ballots at the end of the month
  • $1,000 random draw from all salespeople with approved deals for the month
  • $15,000 grand prize for the highest number of ballots by the end of the year**

This round of the Great Canadian Dealer Showdown ends once the clock strikes midnight on December 31, 2022, so get your deals in now! For more information, click here or contact your Business Development Manager.

*Excludes deferrals, rate buy down, and equal payment finance applications.
**Terms and conditions apply. Open to SNAP Home Finance dealers across Canada (excluding Quebec). The Grand Prize winners will be drawn from entrants across all 3 brands (Simply Group Financial, SNAP Home Finance, and EcoHome Financial). The dealer must be in good standing at the time of draw for the prize to be awarded.

Man on his laptop

We’re excited to announce the roll-out of Weblink 2.0. It’s an enhanced version of our original Weblink tool that lets you share the link with customers and prospects across any platform you’d like, and it will track financing applications back to your business.

What Is Weblink 2.0?

Weblink is like your silent salesperson constantly working in the background to generate warm leads for your business. It allows customers to apply for financing quickly and easily online. If they’re approved, we’ll send you the maximum approved amount to help you close the sale.

Where Can You Use Weblink 2.0?

The original Weblink used to only be for your website, but with the new enhanced version, you can share it across any platform.

  • Promote it on your social media channels.
  • Share it with customers via email or SMS.
  • Use it on your website to start collecting applications.

For Existing Weblink Users

If you are already using Weblink on your website, you can keep it as is, and it will continue to function as it always has. All you need to do is email [email protected] to request the new shareable version to use across other platforms. Once you get your new link, you can replace the link on your website if you’d like, but you don’t have to.

For New Weblink Users

To get Weblink 2.0, click here to complete the quick request form and our Dealer Support team will send you everything you need to get started.

For more information, don’t hesitate to get in touch with your Business Development Manager.

 

3 people around a desk with papers and laptops

What if you could grow your business by being able to compete against major players on new construction projects? What if you could build your brand while doing it and own the customer journey from start to finish? It seems like a no-brainer, right? Our White Label Residential New Construction (RNC) Program can do all that and more.

Think of it as your own branded leasing program for new construction, where we provide the back-end infrastructure and support, and you own the customer experience. You’ll benefit from:

  • Cross-sell opportunities: Sell additional equipment and service plans to customers directly.
  • Ongoing revenue: You’ll be the customers’ first point of contact for service work for the duration of the contract.
  • Brand recognition: Your brand will be featured on all sales and marketing material.

How It Works

If you’re already working in the new construction space, chances are you already have a relationship with the builder. With the White Label RNC Program, you’ll not only be able to provide builders with the equipment they need, but you’ll also be able to:

  • Put equipment on a leasing program.
  • Present it as your leasing program since builders and customers will see your branding on everything.
  • Leave all the financing infrastructure and administrative overhead to us.

We’ll also provide you with:

  • Help building your sales pitch package for builders and everything else you need to close the deal.
  • Help with developing your branded marketing collateral.
  • A communication strategy for your customers.
  • The tools and resources you need to continue providing the best customer experience.

As we mentioned, there’s also the revenue piece of the program. Your earning potential doesn’t end once the equipment is installed. You’ll also get the first shot at all future service calls on the units.

Nothing to Lose and Everything to Gain

If you’ve ever thought it’s probably better to stay out of the new construction space because it’s saturated with the big players, think again. The RNC White Label Program will empower you to compete with those players and can even put you a step ahead of them. We can help you get there.

For more information about the RNC White Label Program, including tips on leveraging your brand and growing your business, tune in to episode 14 of our Close the Deal podcast, featuring special guest Javon Findlator, AVP of Residential New Construction. The episode is available now on Apple Podcasts, Spotify, and SoundCloud.

 

Javon Findlator, AVP of Residential New Construction

Meet Javon Findlator, AVP of Residential New Construction. Javon is responsible for overseeing all aspects of the business’s new construction arm, which includes HVAC and water heating equipment, sub-metering, and EV charging for new homes and multi-residential buildings, as well as our White Label RNC Program.

Javon and his team develop strategy, pricing, marketing support, operations, and everything in between to ensure dealers are set up for success in the new construction space. They also work closely with dealers to get firsthand feedback on improving the RNC program and how to make it more flexible and customized to dealers’ needs.

What does he love most about his job? “The hustle,” says Javon. “My job is very entrepreneurial in nature. It’s not cookie-cutter at all, and I love that. I get to go to battle alongside builders and dealers every day. Whether it’s helping builders overcome pricing challenges or helping dealers strategize to make their bids more competitive, I love the rush of trying to come up with new, innovative solutions.”

When he’s not hard at work building out our RNC business, you’ll find Javon working on his second passion—to become an avid real estate investor and someday own a boutique hotel somewhere hot and sunny.

 

 

The holidays can be a challenging time of year for dealers. Home improvements are often the last thing on customers’ minds, and many tend to put off decision-making until after the holidays. But you can still close off the year strong!

Changes in Consumer Spending

Consumer spending habits around the holidays have certainly shifted over the past couple of years. Lockdowns and public health measures for most of 2020 meant a significant slump in holiday spending—one-third less than in 2019, to be exact. However, while less was spent on gifts and holiday travel, more money was put toward home improvements:

  • More than half of Canadians renovated their homes in 2020 with the intention of improving their living space.
  • 29% of homeowners who renovated did so to upgrade their homes for non-essential reasons (aesthetic and recreational reasons).
  • 16% of renovations were done to increase home value for resale in the next one to three years.

This home improvement trend continued into 2021. We saw a 30% increase in home renovation applications in the second quarter of 2021 and a 15% increase in applications in August compared to July, as more people continued to invest in home upgrades.

How Will the Holidays be Different in 2021?

This year, things are expected to be different. Experts are projecting a rise in Canadian spending for the holidays in 2021. Stores, restaurants, and entertainment venues are open again, and capacity restrictions have also eased for gatherings, not to mention the lifting of travel restrictions. Canadian consumers are expected to spend 29% more this year than they did in 2020, with a greater focus on gifts, travel, and entertainment.

If people are going to be doing more holiday spending this year, that may mean less to spend on home improvements and renovations. However, that’s where being able to offer financing solutions work to your advantage.

How to Use Financing to Close the Deal

Financing can help you convert more customers and close more deals with the benefit of affordable monthly payments—they can get the home improvements they want now without having to sacrifice their budget (or their holiday spending). Here are a few examples of how financing can help you save a deal this holiday season:

  • Improving Affordability: Your customer wants to refinish their basement before the holidays, but the quote comes in higher than planned and they can’t afford it. Pair financing with our 240-month amortization option and they’ll be able to complete their project the way they’d like and can pay it off at their own pace with affordable monthly payments.
  • Managing Unexpected Expenses: A homeowner’s furnace needs to be replaced two weeks before Christmas, and they’d rather settle for lower-end equipment than spend more to purchase a high-end product. Pitch the option of financing. They’ll be able to access industry-leading, energy-efficient equipment with affordable monthly payments and $0 upfront.
  • Making More Manageable Investments: A customer needs their windows replaced, but with other financial obligations around the holidays, they can’t afford to spend any more right now. Use our 3-for-free promotion to offer them three months of no payments and interest—with no dealer fee, it won’t cost you anything either.

So, what does all this mean? We know the holiday season can be stressful, but our financing options can make home upgrades more accessible and less of a financial burden during a time of year that can already be pricy. With your help, customers will feel safe deciding to go through with a furnace upgrade during the coldest time of the year or complete the renovations they want to make for the perfect holiday reunion with family. Either way, financing will not only add value for your customers, but it’ll also help you make this year one for the books.

As always, feel free to reach out to your Business Development Manager for more tips on doing more business around the holidays. We’re always here to help!

man relaxing on a couch

We want to make sure you’ve got all the tools and resources you need to be able to convert every customer and close every sale. That’s why in addition to any of our seasonal promotions, you can still also take advantage of our exclusive 3-for-free dealer offer.

With this promotion, you can offer customers the option of putting off payments for the first three months of their agreement—that means no payments, no interest, no questions asked for the first three months. Better yet, it won’t cost you a thing because there’s no dealer fee either! On a $10,000 loan, it can save you as much as $125.*

Close More Deals, Win More Prizes

Don’t forget about our incentive program, The Great Canadian Dealer Showdown. From now until the end of the year, every deal you submit will count for something—approved deals up to $10K will get you one ballot and deals over $10K gets you two ballots. Plus, earn 4x times the ballots for non-deferral products. We’re giving away weekly and monthly prizes for the highest number of ballots, plus random draws every week and month. There’s also a huge giveaway at the end of the year worth $15,000! The more deals you submit, the more chances you have to win.

Click here for more information and to see the full list of prizes or contact your Business Development Manager.

*Based on a $10K loan, 60-month term and 180-month amortization.

 

 

 

Consumer financing is a tool that can have a massive impact on your business, expanding your profit-earning potential and driving overall company growth. Keep reading to learn more about the benefits of financing and how to sell it to your customers more effectively.

Increase Your Average Ticket Size

Offering financing not only increases your closing ratios by 10-15%, but it can also increase your average ticket size. On average, customers are willing to pay 25% more when they’re spreading the amount over monthly payments when compared to an upfront, all-cash purchase.

Close More Deals at the Kitchen Table

By offering affordable monthly payment options to your customers, you can make home projects like renovations or upgrades more accessible to a broader customer base, which means you’re more likely to hear “yes” at the kitchen table, instead of having customers walk away due to high upfront costs.

Increase Your Lead Volume

Financing increases your lead volume, because the option of monthly payments caters to a broader range of budgets and therefore appeals to a larger customer base. By offering financing, you can tap into a much wider market of homeowners who want to engage in home projects but who may not have the available cash flow for a significant upfront investment.

Take Advantage of the Home Improvement Boom

There’s no doubt that the home improvement market has seen a boom since the pandemic. Our loan applications for major renovation projects like roofing, windows, and doors grew by 36% from Q1 to Q2 of 2021, while non-essential projects were still up by 23% during the same period. Offering financing enables you to get your cut of this increased interest in home improvement.

Help Your Customers Make Their Money Go Farther

Everyone wants the best of the best, but not everyone has the cash on hand to make that happen. Financing is a win for you, but also for your customers. With affordable monthly payments, flexible payment options, and a range of options to choose from, they’re able to access top-of-the-line options while still staying within the confines of their budget.

Simplify Tasks for Your Staff

Internally, offering financing can also be a boon to your staff by taking a considerable amount of work off your team’s plate. When you work with a financing partner like SNAP Home Finance, we pay within 48 business hours of job completion, so you won’t have to worry about chasing down customers for payments. Plus, the application process is quick and easy—it can be completed digitally with the customer right at the kitchen table through a simple online form.

How to Effectively Market Financing to Your Customers

The most common issue when it comes to selling financing is that we assume our customers’ financial situation. If customers aren’t taking advantage of your financing options already, it’s likely because they don’t know you have them available. Here are a few tips to help promote financing more effectively with your customers, so you can close more deals and boost your revenue.

  1. Make sure the option to finance is clearly posted on your website, in any customer communications you have (e.g., newsletters, flyers, etc.), or on your social media channels.
  2. Introduce financing to every customer. Remember, you can never assume what their financial situation looks like, so you have nothing to lose and everything to gain from mentioning the financing option.
  3. Show examples of financing so customers can see the numbers in action. For example, show them what their monthly payments could be with three different amortization periods (120 months, 180 months, and 240 months). They’ll very quickly see where they can get the best value for their budget.
  4. Use the language of opportunity rather than obligation. Financing is an opportunity to get what they want now through manageable monthly payments, rather than waiting until they have the cash available.
  5. Take advantage of promotions to pass on savings to your customers. We offer a variety of seasonal promotions and offers, including 3-month deferrals (no payments or interest for 3 months with no dealer fees), 6-month deferrals, 9-month deferrals, 12-month deferrals, and rate buydowns. All of these can be used as an added incentive to help you persuade customers who may be on the fence.

Want to learn more? Get in touch with your Business Development Manager to understand how our products and services can help advance your business as we head into the new year.

 

Dealer support is always at the forefront of what we do, and our goal is to ensure that we’re consistently providing the best possible experience for you. We are excited to share two new enhancements we’ve recently made to improve the dealer experience and provide more seamless support for you and your business.

A New Dedicated Dealer Experience

We’ve created a dedicated support line for dealer experience. Here’s the number so that you can save it to your contacts: 1-855-327-6367.

Instead of having multiple phone numbers for credit and dealer support, we have one number you can call to have all your questions answered—think of it as a one-stop-shop for you and your business. When you reach us on the new number, you’ll be able to pick from two prompts, one for the status of your application and another for general support. Rest assured that even with the new phone number, all our existing contact numbers remain in place, so you’ll be able to get in touch with our team either way.

Extended Hours of Operation

In addition to the new phone number, we have also extended our hours of operation for our dedicated dealer experience line. You can now reach the team on Monday to Friday from 8:30 a.m. EST to 11 p.m. EST.

Stay tuned for more enhancements coming soon.

If you have any questions about our new and improved dealer experience team, or if there’s any other support you need, please feel free to reach out to your Business Development Manager at any time!