MBA2142 Should You Offer Payment Plans for High-Ticket Offers? + Free Ride Friday
Charging in installments works for infomercial products. But will it work for yours?
When you don’t collect the entire price of your product or service right away, you take a risk. You may see one or two payments, only to forfeit the rest. That said, when you only accept full payment up front, you risk not making the sale.
The key is to understand what kinds of offers benefit from payment plans — and which don’t.
Today, we break down the advantages and pitfalls of payment plans, and what factors make them riskier. We’ll explore the price points and product types that do better or worse with payment plans, including the one thing you should always get money up front for.
Make the most sales — and the most revenue — with the right payment approach. Click Play!
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