Pros/Cons of a monthly payment option: Opinions, please?
I'm starting up a high-end patient advocacy service that will require an agreement to pay an annual fee (about $1500/year). I'd like to offer a monthly payment option, which could be much more attractive in these economic times. But I'm concerned about customers (a) using the service for a short time, then terminating payments; or (b) losing their credit card privileges in the course of the year, so my payments stop.
Should I offer only an up-front annual payment option, or take the chance of monthly payments?
Any advice/opinions will be much appreciated.
Should I offer only an up-front annual payment option, or take the chance of monthly payments?
Any advice/opinions will be much appreciated.