In uncertain times, one way you can help give your customers the confidence to go ahead with their home improvement plans is by offering financing with the Wells Fargo Home Projects program. It’s an easy way to give customers the flexibility to pay over time — which means they don’t have to spend their cash or dip into their savings to take on a big home improvement project. In fact, you’ll often find that customers may be more willing to take on bigger projects or combine project phases when financing is available — which is a competitive advantage that can make a real difference to your bottom line.
Our research has found that the customers who apply for financing are serious about starting their project and ready to make a purchase now. In fact, 81% of Wells Fargo Retail Services customers told us that they applied for financing in order to make an immediate purchase.1 Our data also shows that making financing available to your customers can often make the difference between closing the sale and losing the sale. In our surveys of Wells Fargo Retail Services customers, 1 in 4 reported that they would not have made a purchase if the merchant did not offer financing.2
When we talk to our merchants, their real-world experience bears out what we see in our survey data. Elliot Laniado, owner of Window Treats, Inc. in Red Bank, New Jersey, told us, “I was working with a customer on a renovation of his summer house, and during the process, the customer mentioned that he saw Wells Fargo financing was available. I told him that we were actually running a promotion, 0% APR for 12 months. The customer was towards the end of his renovation project and money was starting to get tight. However, due to the Wells Fargo financing offer, he was able to place an order for $32,000.”
Financing can also help your customers think bigger when it comes to their home improvement projects. At Kent Mohler Exteriors in Kansas City, Missouri, owner Adam Jardak has seen this again and again during his sales presentations. “I definitely think we get extra jobs just because we are able to offer financing — customers don’t have to go shopping for it and waste their time. But where it is really beneficial is adding on to tickets. Customers might add windows if they’re doing siding, or possibly throw in an extra door or patio door if they’re doing windows. I’ve noticed that if they get approved for a little bit more, a lot of times they’ll say, ‘I might as well get this done, too.’”
Of course, your choice of financing program can make a big difference. You need a program that’s simple to use for both you and your customers and backed by a proven provider. That’s where the Wells Fargo Home Projects program comes in. It’s a customer financing program designed specifically for the needs of home improvement businesses like yours, with easy online applications and transactions in the office or on the job site, quick credit decisions, fast funding, and the support of dedicated relationship representatives, all backed by the strength and stability of Wells Fargo. That’s why 92% of our merchants say that we’re easy to do business with3, and 94% of our customers are satisfied with the financing we provide.4
Ready to put the power of Wells Fargo to work for you? Contact us today!
Wells Fargo Retail Services
1-800-577-5313
wellsfargo.com/homeprojects
1. Percentage of WFRS finance customers in a survey who responded “Immediate” to the statement “When you applied for the Wells Fargo retail store credit card for [your] purchase [in person/at home/online], was it to make an immediate purchase or to make a purchase in the future” when surveyed by Ipsos on behalf of Wells Fargo, July 18 – Sept, 11, 2024, and Nov. 14 – Dec. 9, 2024. Sample included 263 WFRS merchant customers within the home improvement, home furnishings, outdoor living, and jewelry industries who are decision makers or users of WFRS consumer financing programs.
2. Percentage of WFRS finance customers in a survey who responded “No” to the statement “Would you have made the purchase if the Wells Fargo retail store credit card was not offered” when surveyed by Ipsos on behalf of Wells Fargo, July 18 – Sept. 11, 2024, and Nov. 14 – Dec. 9, 2024. Sample included 263 WFRS merchant customers within the home improvement, home furnishings, outdoor living, and jewelry industries who are decision makers or users of WFRS consumer financing programs.
3. Percentage of participants who indicated “Agree” or “Strongly Agree” with the statement “Wells Fargo Retail Services (WFRS) is easy to do business with” when surveyed by Ipsos on behalf of Wells Fargo, March 27 – April 22, 2024. Sample included 263 WFRS merchant customers within the home improvement, home furnishings/appliances/electronics, outdoor living, and jewelry industries who are decision makers or users of WFRS consumer financing programs.
4. Percentage of WFRS finance customers who indicated “Satisfied” or “Very Satisfied” with the statement “Overall, how satisfied are you with your Wells Fargo retail store credit card” when surveyed by Ipsos on behalf of Wells Fargo, July 18 – Sept. 11, 2024, and Nov. 14 – Dec. 9, 2024. Sample included 263 WFRS customers within the home improvement, home furnishings, outdoor living, and jewelry industries who are decision makers or users of WFRS consumer financing programs.