Does Your Business Offer a Payment Plan?
In this economy, lump-sum payments are becoming more and more difficult for people to swallow. Often it isn’t the actual cost of something that prevents a person from purchasing a product or a service but the inability to cough up a large lump sum up front to pay for that product or service they want.
After more than three decades, even Disney (the family Mecca) has expended its branding strategy to include offering a family-friendly payment plan for Florida’s season pass holders. Gasp $275.84 to purchase a seasonal pass for Disney, ouch. But $15.74 per month to take the family to see the Mouse any time they want, now that’s something to think about. That’s what, three lattes a month?
Do you have a product or service in your business that carries a hefty price tag? Could your personal branding benefit from offering payment options? If your choice is no client or a client who pays monthly, I bet the answer is yes. Even our branding agency offers payment plans for services. Think about it dental services, coaching plans any high-end product or service your business offers that might be easier to swallow in a monthly payment form. Like Disney, you can even require a down payment to cover your upfront costs (Disney charges $87.33 to initiate the payment plan above) and then a monthly fee moving forward.