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Some alternative payment plans a business could offer include installment plans, subscription-based models, pay-as-you-go plans, and deferred payment options. These plans can make a costly product or service more affordable to a wider range of customers. It's important to understand your ideal client and their spending power to determine which payment plan would be most suitable.
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Understand your ideal client and their spending power, Dill, writes. A costly product or service can be totally affordable as long as it's marketed to the right audience. Payment plans that allow paying in installments is also a good idea. "Pricing is largely a marketing issue, not a sales issue. Marketing creates awareness. Sales brings clients from awareness into a business relationship. A sale isn't the end of a conversation. It's the beginning of a relationship," she says.
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Take the most advantageous pricing approach to increase profitability of your organization. Use our Pricing Strategies presentation to outline factors...
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