Ah, the infamous “Can I pay part now, part later?” message. If you’ve ever offered customs or higher-ticket items, you’ve probably seen it. And you might be torn between wanting to be flexible and not wanting to chase someone down for the rest of their payments.
So should you allow payment plans? The answer is: maybe, but only if you have a plan of your own.
When It Makes Sense
Payment plans can be a great way to close a bigger sale that might otherwise slip through the cracks. Let’s say someone wants a full-length custom video, a full photo set, or a bundle of old content. If the total is over $500, splitting it into multiple payments might get them to say yes.
It can also be helpful if you have loyal, repeat buyers who’ve always paid without issue but might not have the funds for bigger ticket items. Reward their loyalty by letting them make tiny payments over a long period of time.
What to Avoid: No Deadlines
Not setting a deadline. Do you really want to do that 10 minute yoga pants ball-bouncing topless custom after two years of $5-a-week payments? That’s not worth it. You know that guy will be chatting with you the whole time, only tipping towards his custom, never buying anything.
What this means: set appropriate deadlines for the amount and the custom. If someone is buying a $100 custom, they get two months. A $1000 custom? Maybe six months, maybe a year.
What to Avoid: Filming the Custom Ahead of Time
Another no-go: finishing the content before they’ve fully paid. Never make or deliver the goods until you’ve been fully compensated. You’re not a bank, and you shouldn’t be chasing down a tip like it’s rent day.
What to Avoid: Losing Track of Payments
If you’re accepting payments, you have to keep track of them. You need to know who paid what and when so if a fan starts arguing with you that he’s actually $400 in on his $1500 custom and you know he’s only $200, you can show him the receipts.
Set Clear Terms
If you decide to offer a plan, lay out the rules. Let them know their deadline and when they can expect the content. For example:
“Total is $120. You have to tip $25 now and pay the rest within three months. My turnaround time is two weeks from when I get the last payment.”
Use It Strategically
Don’t feel pressured to offer payment plans for everything. Use it as a tool for specific situations, like upselling a big custom or a smaller custom that you think will sell well as a PPV.
And if you want to add a little incentive, you could say something like:
“I don’t usually offer payment plans, but I’ll make an exception for you.”
Remember…
If you’re at the end of this article asking yourself, “but what if they never finish paying off their custom, what if they just tipped me $100 and disappear?”… sounds like you’re $100 richer for merely discussing a potential custom. You’re welcome.
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