12Oct

Proven Marketing Strategies for 6-Figure Business Success: Designing Creative Payment Plan Options

Posted by Marcel Sim in Finance & Capital

Article Contributed by Kendall SummerHawk
Did you know that HOW you design your client payment plans can make the difference between your prospective client saying, “Yes!” versus muttering, “Let me think about it?”
This applies to services, programs and even products offered on your Web site. So it’s wise to understand what works — and what doesn’t! — so you can make it easy for your prospective clients to say “yes” to you.
Now, the problem is, most Soul-preneurs™ feel uncertain as to how to design their payment plans. Many rely on the simple “order now and save XYZ amount” strategy. And while that’s a good one, in this economy that alone is not compelling enough to motivate people to hire you or invest in your info product.
Which is why my Platinum clients and I carefully design what payment plan strategy is going to work best for each of their service or info product launches. It’s just too important to leave to chance or not get expert help creating!
The good news is that I’ve spent years figuring out what works in the area of pricing and money. Here are three SIMPLE strategies that will instantly help you design a compelling offer your prospective clients will love to say “Yes!” to.
Pricing Plan Strategy #1: Offer a Valuable Incentive For Paying in Full
You’ll be surprised at how many clients will choose a full pay option in order to save big or qualify for a special high-value incentive.
For example, in my new 2009 Platinum Program the full pay option is generously rewarded with a special “preferred client” coaching day with me on the topic of pricing and money. This is in addition to a significant savings. Together, these create powerful reasons for new Platinum members to not only apply for the program but to choose the full payment option.
Pricing Plan Strategy #2: Create a Reason WHY a Client Should Say “Yes” to Your Offer Now… Instead of Later
Most Soul-preneurs™ mistakenly give their prospective clients far too long to make their investment decision. This backfires because human nature is such that the longer someone has to decide the more likely they are to talk themselves out of making a “yes” decision.
That’s a shame because that means that’s someone you’re not able to help. So keep your cut-off dates more immediate, then use your marketing to create energy, excitement and a reason for people to say “yes” to you within this shorter time frame.
Pricing Plan Strategy #3: Aim to Make Your Bonuses Total MORE Than the Original Service or Product Being Purchased
Like you, I’m NOT a fan of offering a hodgepodge array of bonuses that look like someone just cleaned out the back of their closet. Instead, design bonus products or services that have real value to your clients and that if purchased separately, total up to even more than the original item offered. Even better, offer at least one bonus that can’t be purchased separately, emphasizing its appeal as an “exclusive” available only to your clients when they invest in your program or product.
Think Creatively When It Comes To Your Pricing Plan Options
While there are many more pricing plan strategies you can use, these three will get you started quickly and help you feel more confident in launching your new programs and products. Remember that the easier you make it for your prospective clients to say “Yes!” the more you’ll be able make a positive difference for them while making more money!
About the Author
Kendall SummerHawk, the Million Dollar Marketing Coach, is an expert at helping women entrepreneurs at all levels design a business they loveand charge what they’re worth and get it. Kendall delivers simple ways entrepreneurs can design and price their services to quickly move away from ‘dollars-for-hours work’ and create more money, time, and freedom in their business. For free articles, free resources and to sign up for a free subscription to Kendall’s Money, Marketing and Soul weekly articles visit www.kendallsummerhawk.com.