Jul 11
20
Hey there! Welcome to Episode 3 of Money Making Marketing Minute. I’m your host Brodie Tyler.
And we’re going to be talking about offering payment options to your customers. Let’s say that you have a product or service that you’re selling for $129. What I mean by offering a different payment option is something like “$129 or just 4 easy payments of $39.” Now this might seem familiar. I think they do it on Home Shopping Network or QVC, and I mean the reason why is because it works.
If you add up the 4 easy payments of $39 it actually comes out to $156. And, what is that? Another $27 more than the $129 option? Even though this might seem about the same price or something maybe even a little bit more expensive, it’s actually another $27 which is a good percentage of $129. So see if you can offer different payment options for your customers on what you sell.
Another benefit… Just keep in mind that some of your customers may not have the entire amount upfront and it may not be convenient for them to pay that. And so offering them the payment option can lead to a sale you wouldn’t have otherwise. Maybe even half of the people you sell to will choose the 4 easy payments. See how you can work that into your business. Thanks for watching and I’ll see you on the next video.