Pre-Approved Limit: Increase Your Sales
Posted: Thu Jan 23, 2025 6:33 am
Do you know what the pre-approved limit is and how it can increase your sales?
The pre-approved credit limit is a financial resource offered by various credit institutions, such as stores and companies specializing in financing, which allows customers to make purchases in installments with a pre-approved credit limit.
This limit is usually defined based on the customer's financial history and overseas chinese in worldwide data also following other criteria established by the credit institution.
For entrepreneurs, the pre-approved credit limit can be a powerful tool to increase sales and build customer loyalty.
By offering this financing option to your customers, you can attract customers who are looking for more inclusive installment options. In addition, it makes the purchasing process easier, making it much more accessible to the customer.
Want to know more about how to prepare your strategy for this date? Check out the reading now!
WHAT IS PRE-APPROVED LIMIT?
The pre-approved credit limit is the amount that the store or financial institution has approved and is already available to the customer.
Typically, this pre-approved limit is released with just basic customer information.
However, this helps in opening credit and also encourages the consumer to carry out a credit analysis with more information , thus being able to increase the limit already pre-approved initially.
An example to help you understand this: you can offer a pre-approved limit of R$100 in your store and, if the customer provides more information, you can increase this initial credit limit, thus helping to increase sales.
To improve your knowledge on the subject, check out the first video below and learn all about the average ticket!
YouTube video
HOW CAN CREDIT ANALYSIS INCREASE SALES?
Conscientious credit is, without a doubt, the best way to reduce the risk of losses caused by customers who are unable to pay their debts.
In other words, it is an excellent ally to avoid the dreaded default!
After all, we know that a large part of the Brazilian population does not have financial education and, without a pre-established limit, many customers end up buying more than they could afford.
Being aware of this, it is the store owner's responsibility to provide credit in a conscious manner, helping the consumer not to get lost in a veritable snowball of bills to pay.
This responsibility must be extended to store employees, knowing which customer may or may not have a larger installment.
HOW TO PERFORM CREDIT ANALYSIS IN A BENEFICIAL WAY FOR YOUR STORE?
Credit analysis can offer benefits following three important factors:
1. Increase sales team confidence:
If your salesperson knows exactly what their customers' credit limit is, they will also know how much product they can offer to the customer. In addition, they will understand when they should not put the store in a difficult situation in the future due to defaulting on payments.
2. Offer the ideal installment plan for the customer
Not everyone can pay in up to 4 installments, but you know that exception?
With Credit Analysis, it is easier to know if you can extend the installment plan a little longer or take out a slightly larger loan.
The important thing, before doing this, is to keep in mind whether this action will make the customer's life easier or more complicated in the future.
Therefore, in addition to helping with payment conditions, Credit Analysis generates value with good paying customers.
The pre-approved credit limit is a financial resource offered by various credit institutions, such as stores and companies specializing in financing, which allows customers to make purchases in installments with a pre-approved credit limit.
This limit is usually defined based on the customer's financial history and overseas chinese in worldwide data also following other criteria established by the credit institution.
For entrepreneurs, the pre-approved credit limit can be a powerful tool to increase sales and build customer loyalty.
By offering this financing option to your customers, you can attract customers who are looking for more inclusive installment options. In addition, it makes the purchasing process easier, making it much more accessible to the customer.
Want to know more about how to prepare your strategy for this date? Check out the reading now!
WHAT IS PRE-APPROVED LIMIT?
The pre-approved credit limit is the amount that the store or financial institution has approved and is already available to the customer.
Typically, this pre-approved limit is released with just basic customer information.
However, this helps in opening credit and also encourages the consumer to carry out a credit analysis with more information , thus being able to increase the limit already pre-approved initially.
An example to help you understand this: you can offer a pre-approved limit of R$100 in your store and, if the customer provides more information, you can increase this initial credit limit, thus helping to increase sales.
To improve your knowledge on the subject, check out the first video below and learn all about the average ticket!
YouTube video
HOW CAN CREDIT ANALYSIS INCREASE SALES?
Conscientious credit is, without a doubt, the best way to reduce the risk of losses caused by customers who are unable to pay their debts.
In other words, it is an excellent ally to avoid the dreaded default!
After all, we know that a large part of the Brazilian population does not have financial education and, without a pre-established limit, many customers end up buying more than they could afford.
Being aware of this, it is the store owner's responsibility to provide credit in a conscious manner, helping the consumer not to get lost in a veritable snowball of bills to pay.
This responsibility must be extended to store employees, knowing which customer may or may not have a larger installment.
HOW TO PERFORM CREDIT ANALYSIS IN A BENEFICIAL WAY FOR YOUR STORE?
Credit analysis can offer benefits following three important factors:
1. Increase sales team confidence:
If your salesperson knows exactly what their customers' credit limit is, they will also know how much product they can offer to the customer. In addition, they will understand when they should not put the store in a difficult situation in the future due to defaulting on payments.
2. Offer the ideal installment plan for the customer
Not everyone can pay in up to 4 installments, but you know that exception?
With Credit Analysis, it is easier to know if you can extend the installment plan a little longer or take out a slightly larger loan.
The important thing, before doing this, is to keep in mind whether this action will make the customer's life easier or more complicated in the future.
Therefore, in addition to helping with payment conditions, Credit Analysis generates value with good paying customers.