Benchmarking is a valuable metric, giving important context to your performance. This can help you understand just how well you’re integrating financing (and where there’s room for improvement).
The GreenSky Report Center’s benchmark report presents your performance relative to the average numbers for Merchants in your industry category with similar annual revenues; in short, how you’re doing in comparison to your peers.
The report highlights 12 industry KPIs, including:
Percentage of applications submitted across FICO score bands
Total applications decisioned (are you offering less financing than competitors?)
The percentage of applications approved
Average requested amount
Approved accommodation amount
Benchmark reporting can help spark improvements in specific areas of your financing program. For example, you may find you’re offering financing less often than your industry peers, or not taking advantage of high accommodation rates that would enable your Customers to expand the scopes of their projects.
Once you understand where you stand, you can work with GreenSky to supplement your sales training or incorporate specific products or features. The end result is a highly optimized financing program backed by real market data.
Read more industry insights on our Knowledge Hub
Ready to make financing part of your process? Contact us today