More Sales with Payment Options

More Sales with Payment Options

You and I and our clients -- we’re all the same. We would rather have higher quality than lower. We would rather get something faster than slower. And we would rather pay less than more. We would rather have more sales with payment options.

Now, I can’t help you deliver higher quality or faster service ...

But I can help you charge less for your services and win more new sales ... while still getting paid the same amount you do now. Actually, you’ll get paid more because you’ll bring in more new revenues from more new clients.

How is it possible to charge less but earn more? By offering clients more sales with payment options or financing. For example, instead of pricing your service at $1,000, you price it at 3 monthly payments of $333.

In 21 years of marketing, I’ve never seen payment plans fail to increase sales. There are clearly more sales with payment options. There’s a reason why you see multiple payments on nearly every infomercial and every show of QVC or the Home Shopping Network: financing and payment plans work. And they’re one of the most powerful things you can do to fuel explosive growth in your business.

more sales with payment options

Here are 3 reasons why ...

  • Increase Sales. By breaking big prices into small ones, you boost the number of people who can afford your services, which increases how many can convert to clients. Research by PayPal showed sales can increase up to 18% with a multi-payment option.
  • Increase Profits. By splitting an order into smaller monthly payment, you make bigger orders more affordable. Which helps your clients get what they really need without having to settle for less. That’s a win for them. And it can increase your average transaction size by up to 20%, according to research at Financeit.io, which is a win for your profits.
  • Increase Cash flow. You get paid up front for new clients today, while continuing to get paid for clients from last month and the month before. That keeps your cashflow smooth from week to week -- a nice feeling in any business.

Okay. You’ve seen the numbers and the reasons why. But ...

How Exactly Do You Offer Clients
Payment Options?

There are two parts to this: front end (making the offer) and back end (getting the money). Let’s look at each ...

Front End: Words are important here. Three things to keep in mind:

  • Say “installment.” Who likes to make payments? Nobody. Instead, call them installments; that’s way less threatening.
    Example: Your investment today is 3 monthly installments of only $999.
  • Say “only.” Anything you can do or say to make the price tag seem smaller is a good thing. And the word only does that nicely. So, from now on, all of your prices should be only.
    Example: Your investment today is 3 monthly installments of only $999.
  • Be clear. It’s an axiom of marketing that a confused mind will say no to your offer. So be crystal clear. Say exactly how many installments they’re making and how often.

Example: Your investment today is 3 monthly installments of only $999.

Back End: I usually break all prices of more than $1,000 into two or three installments. Your business and clients may vary. But however you handle payments on the back end, your goal is to make payments easy for the client to make and for you to receive. Three ideas for you:

  • Make credit card payments automatic using your shopping cart software. Over the years, I have used both Infusionsoft and 1ShoppingCart with good results.
  • Use multiple post-dated checks. If for you or the client don’t want to use credit cards, the client can send you two or three checks for the total amount, post-dating checks by 30 or 60 days. That way, you don’t worry about asking for a check each month and the client doesn’t worry about the full amount being charged at once.
  • Consider a third-party credit card solution. You can choose any of the following services to process your financing, after doing your due diligence:
  • Financeit.io
  • Paypal.com
  • Stripe.com

Bottom line: Offering an EZ Pay Option, or payment options, is a sure-fire way to increase your sales and profits from the same marketing you’re doing right now. I’ve used them in 3 different businesses since 1998 with fantastic results. They’re a perfect Marketing Multiplier.

One last thing. If you own a business in the U.S., you’re entitled to a Free Box of 11 Marketing Multipliers tools. Request your Free Trial Box now at www.MarketingMultipliers.com

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