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Customer acquisition costs are on the rise. Meaning retailers are facing growing difficulty in attracting new customers. Businesses need to re-evaluate their strategies and focus on more cost-effective methods of growth.
In our latest whitepaper, in conjunction with the Retail Gazette, we bring you exclusive survey data to really get under the hood of how retailers view the costs of winning and retaining customers, as well as lifetime value.
We wanted to place particular focus on how well the cost of acquisition is understood, as well as tactics used and key challenges faced.
It’s important to note that while acquiring new customers is key to any successful retail business, developing an outstanding customer experience to engage and retain existing customers remains equally crucial.
Why choose Novuna Consumer Finance?
One of the UK's leading point of sale finance providers
40 years’ industry experience
Dedicated relationship manager to help you reach your goals
Everything from underwriting to IT based in a single UK site
Accredited by the Institute of Customer Service
Tailor-made for you
When it comes to finance, we believe one size definitely does not fit all. Your customers are unique and that's why our finance options are too.
Decline Tailoring
Gives declined customers the option to increase their deposit amount, reduce the overall loan amount or increase their term to spread the cost in order to make the application affordable. This will reduce overall declines, meaning more accepts for you and more revenue.
Accept Tailoring
Allows an accepted customer to reduce the loan term by increasing their monthly instalments, based on affordability checks. This will ultimately save them money as they will accrue less interest, as well as clearing their debt more quickly. As a retailer, you will pay less in subsidies.
Maximum Loan
If a customer applies and is accepted for the requested amount, that's the end of the story, right? Not necessarily. If they are eligible for more, we will offer that option. That allows your team to upsell or cross sell with ease and increases average transaction values.
Loan Amend
Costs can fluctuate, especially for bigger projects. That's why we allow eligible customers to increase or decrease their loan amount, even after the application is complete and the agreement has been signed. Giving you and your customers ultimate flexibility.
Just some of our 3,000+ retail finance partners
