How long has it been since you took a real good look at your credit card bill?
Chances are you have a number of charges that are automatically deducted on a monthly basis. These payments, while included in your budget, are regular expenses, but are less noticeable than when you have to sit down and write a check or make the purchase directly. Paying with a card is a whole lot easier than spending cold hard cash, and automatic deductions are the easiest way to watch the dollars fly.
If these expenses pass by nearly unnoticed by the great majority, the question we as business owners need to be asking ourselves is this: how can we tap into this kind of market? What can you do to entice your customers to agree to a contracted plan that will fulfill their needs over a longer span of time?
1. Charge up front for the initial sale. This will get your customer in the right mindset and keep you ahead of them as far as payments go.
2. Restock their supplies at a discounted rate, automatically. When they sign up, get their order set at the interval they prefer, give them a discounted rate for the “bulk” purchases, and agree to not raise the price for the duration of the contract.
3. If you are able to add in a bonus product or service at the end of the contracted time, that appears completely free to them, that will entice the customer to sign up for another year of service.
4. All you have left to do at this point is have a customer sign an automatic withdraw slip for the amount that will be deducted monthly from their credit card or checking account.
This long term program won’t work for all your clients, but it is a great way to offer them something special for committing to a long-term contract with you, which in turn offers you a bit of job security.
Have you found anyway to implement something similar in your sign making business? We would love to hear from you!