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Would this skyrocket conversion rates

by cup243
5 replies
Hi, if you have an info product that sells for $500 your conversions probably wouldn't be very good because most people think that's too much money (depends on the niche obviously but you know what I mean...)

The thing is, what if you could finance the sale by breaking the price down in 10 monthly payments of $50? Everybody could afford it, it feels much better paying $50 per month for a while than, boom, 500.

It would basically be equivalent to a minimum agreement for 10 months.

So you make just as much money while conversion rates should increase like hell.

So, is there any payment processing service that includes the possibility of setting up a minimum agreement with the buyer?
Cuz I take it Clickbank or Paypal don't have anything like this right?
#conversion #rates #skyrocket
  • Profile picture of the author tahoecale
    I have never seen a payment processor with that option, but even if there was i think it wouldn't help you. Your talking about a lay away option and no one does that on the internet.
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    • Profile picture of the author cup243
      Originally Posted by tahoecale View Post

      I have never seen a payment processor with that option, but even if there was i think it wouldn't help you. Your talking about a lay away option and no one does that on the internet.
      Yeah but would it not skyrocket conversions? I feel like so many people would prefer paying 20 dollars monthly 10 times than $200 on one go. Maybe you could make some kind of legal agreement with the buyer...
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  • Profile picture of the author Josh Monroe
    I've seen it done with PayPal, you create a recurring payment for example $X today, then $XX in X days time.

    You can also use this method to offer a 7 day free trial and so on.

    In regards to big ticket items, most marketers just use the two payment plan instead of a 10 payment plan.

    Only other thing I can say is test and see which works out best.
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    • Profile picture of the author shabit87
      You can also consider a more membership type platform with a monthly fee that releases content on a drip feed type basis. That way they kinda get what they paid for only and only after the 10 payments are complete do they get the complete course.

      That way no one is paying $50 for $500 worth of content.
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  • Profile picture of the author Randall Magwood
    2checkout can do this for you. So can Alertpay and Paypal. But just because you split up a $500 product up in 10, $50 segments... dont think it will increase conversions. Your prospects aren't dumb. They know math. Probably not Einstein math, but they know it. I think if you want to sell a $500 product, either offer a one-time $500 sale, or break it up in 3 separate payments.
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