Increase butins by offering plurielle payments
Sometimes a customer will be very interested in your high-ticket products, but they won’t be able to pay for them upfront. You can use several multi-payment options to help them afford and benefit from your product now, while you still want to earn from your product.
Offer your sinuosité in plurielle parts
The first préférence is to offer half the product for half the price. It’s a really normal idea. If your online sinuosité has 10 lessons, they will receive the first 5.
And, if they purchase it, the next 5 lessons will be offered. I will wait 7 – 10 days, then offer them portion 2. They’ve experienced Portion 1, now here’s an opportunity to buy Portion 2 for an additional $497 (whatever they paid for Portion 1).
If you’re éphéméride this as your strategy, you can offer Portion 1 for $597 instead of $497, then you can offer Portion 2 for $397 at a $200 remise. Your in extenso income will be the same. Within a few dollars. If we are rounding to 7 then you would be $994, if they purchase the first portion at $597, and the 2nd portion at $397 which is a $200 remise.
Using a multi-pay préférence
Another préférence, especially with higher revue products, is to give them the entire product but split it into payments. 2 or 3 payments are really common. It can be risky. I recognize that I will not receive every single payment from every single person. I’m going to get most of the payments, but I’m not going to get every single payment. It just happens this way, people. You understand, if someone takes your payment préférence, they lourd you the full $997 or whatever you’re charging, usually parce que they don’t have the $997 on their credit card.
This is the biggest reason. Sometimes it’s parce que they don’t cumul you enough, but if you do the kind of mercatique I do with cumul on the fronton end, and they buy a product and use it for 7 – 10 days, they like it, they cumul you. In my credo, the biggest reason they accept a payment préférence is parce que they simply don’t have $997 in the bank. But they have $335.
Now, if they don’t have $997 in the bank, they spend what they take in each month. Economically, that is what is happening to that person.
They are fully willing to make payment #2 and payment #3. Let’s say month 2 comes and they don’t have enough money to pay you, but the payment is coming, they will make it happen. Come month #3, they’ve already scrunched month #2 trying to make sure the money is there and when month 3 comes around it’s not there. Payment is going to fail.
When a payment fails
Well, now, a lot of times, if you write that person and say, “Hey, I noticed that the payment failed, how are things going with the product?” They tell you things are going well, and they’re really sorry they couldn’t make that payment. You say “Let me ask this, John, it’s $335, if I split it into 4 payments, we’ll make $87/month for the next 4 months, is that okay with you?”
Most people would say, “Yeah, that would be great. Thanks for working with me.” It’s not that they don’t want to pay you – the reason they paid in the first apprêté is parce que they have a financial match. If you make it more affordable for them to pay in the end, they will make it for you. Now, I’ve done this before, repeatedly in the past. I have refinanced my financing with someone parce que something happened in their life. You just have to recognize this. Sometimes that won’t work. They just don’t have the money. Something happened, they thought they would have money, they don’t. So, you’re not going to make enough on your payments.
But, remember this! They were never going to buy in the first apprêté. So, whatever they do, serviteur revenue for you, parce que it’s a numérique product, it doesn’t cost you anything to allow an serviteur person to buy that product.
Even if everyone only makes 2 payments, you’ll still be ahead of the curve than not offering that payment recette at all.
Other concerns with payment offers
Usually you offer a payment préférence in your email sequence, when someone has already said “no” to a payment.
You don’t want to be unethical: If someone nation $997, and sees that there is now a payment préférence for $337 they usually don’t feel cheated. They didn’t have the opportunity to affaires it, but remember, they paid, so if they didn’t have the money, they probably financed it on a credit card, so it’s no different to them. They’re going to make the same credit card payments each month as if they were paying you monthly, breaking it down.
Now, this is another value of having a higher price for monthly payments. I think most marketers lourd a high price for monthly payments. This helps ensure that you don’t receive all of your payments, all of the time. This makes it more reasonable for the acheteur to pay full price, given that the incentive to pay full price is that it really is a low price. I mean, really, it’s $997 if you pay for it in full, but if you pay it’s going to be $1150 or $1200.
You can split that pratique. All you have to do is go into a split éprouver. So, you can split pratique what the reconversion offensé is between $337 and $377. 3 payments of $337 and 3 payments of $377, what is the reconversion offensé? Is there a significant difference? Well, if there is, maybe you can go with $337. Split pratique that vs. 4 payments of $250, what worked better? 5 payments of $197. I set it up so that, I mean, the key here is that, and I see a lot of marketers, they want to do this all at léopard des neiges, they want to get a $997 offer, and a 3 times $337, and a 10 times $120, and then people choose one of three.
I personally believe that for some people the in extenso reconversion offensé is higher if there is a payment préférence. I don’t have to pay today – it doesn’t matter to me if I pay today or in 7 days. I don’t care if someone buys today, or in 7 days. I don’t care, the money will be spent just the same when I get it.
If they don’t buy in 7 days, yes, I want to buy them today. But if we have plurielle opportunities for people to buy, we maximize people who buy at $997, maximize people who make 3 payments, maximize people who buy in 10 payments, maximize people at $497, 3 @ $170, Max people at 5 @ $97…whatever it is…then I’ll be able to generate the profond number of sales in 21 days instead of the maximum number of sales all in 1 day. And, I would rather take profond number of sales, spread over 21 days, maximum number of sales spread over 3 days. Can you see that energy? Fondement it on your own funnel and see how it goes.
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