Is it time to increase your payment options for your coaching services?
Offering a range of payment options can help to increase sales. Certain payment methods may be more convenient for certain clients – you’re more likely to convert your audience and readers to clients by offering their preferred payment option.
Below are just a few different ways in which you can increase your payment options.
Offer more than on one online payment options
All online businesses can benefit from accepting a range of online payments. Not everyone likes Paypal or have a credit card to make an online payment so having different options of payment for your services will definitely be at your advantage.
Accepting credit card payments may require additional set-up from your payment services than accepting debit card payments so when you set up a merchant account, make sure to factor in eventual credit card charges.
You could even get a mobile card reader and take contactless/online payments from anywhere in the world.
Accept other currencies
As an online coach or business owner, you are very likely to attract clients from a wide range of countries not just your own country so it can be a good idea to start accepting foreign currencies. Many modern online payment gateways can allow you to do this.
Be wary of how transfer fees and exchange rates could affect your revenue and make sure to take that into account when defining your prices.
You can also accept cryptocurrency payments such as Bitcoins payments. Cryptocurrencies are becoming a lot more popular now – particularly when it comes to online payments. There are payment gateways that can accept crypto.
Offer instalment options
If you sell big-ticket items, it could be worth providing customers with an option to pay in instalments. This could be an in-house instalment plan that you create inside PayPal, Stripe or any other payment gateway.
In-house instalment schemes require a lot of trust in your customers and the willingness to personally chase up customers if they fall behind on payments. You also can decide to have a bigger payment on the first instalment and smaller ones later – to cover your initial cost if someone fails to make the subsequent payments.
A new trend is to offer interest-free instalments as a way of helping those with less cash right away and have a paid-in-full option with additional bonuses as an incentive for those who can make the payment in one go.
Offer gift cards/vouchers
As a coach or service provider, you could consider offering alternative forms of payment such as gift cards or vouchers.
Before special holidays, black Friday or any other occasions, it could be a good marketing strategy to promote gift cards or vouchers.
Gift cards can allow customers to buy a service or a programme for themselve or someone else – whether or not they use it, you still get paid, making this a worthy payment option to provide.
Vouchers allow customers access to one-off discounts. These could be given to customers as rewards through mailing lists or they could be distributed through business partners, social media or affiliates. They can be a great way of enticing new and old customers to use your services.
Take Action today and implement some of these tips now!
Please let me know what you think of all this information and if you have been able to implement it. I would love to help.
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3 Newbies Mistakes Hurting your Coaching Business (And What to Do Instead)
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