Pricing, Packaging, and Payments Flexibility

by Tricia Reilly

So I mistakenly answered my home phone last night, and it was the Cal Alumni Association. Now I’ve been a member of the Alumni Association on and off since graduation, but I’ve never become a lifetime member. It’s not that I don’t intend to renew every year, but somehow I’ve never been able to commit to ‘forever’. Possibly because it makes me contemplate my own mortality, but I digress.

So, here’s how they got me:

Telemarketer: Did you know that Cal was ranked #1 public university in the country?

Me: Yes, I did.

Telemarketer: Did you also know that the football team is now ranked #6 in the country?

Me: Yes, I did.

Telemarketer: We can now offer you $75 off the lifetime membership, for just $650.

Me: Um, I can't afford $650 right now.

Telemarketer: Well, we can split it out across an extended period. You'd only have to pay $75 (which isn't due until Oct 1) and then just $150 per year for the next four years. And you can access all the lifetime benefits starting immediately.

Me: OK. I guess it's about time I became a lifetime member.

Telemarketer: I'll just need a credit card.

And just like that, they had me.

It just goes to show you that a little pricing and payment s flexibility can go a long way. A thriving subscription business needs a flexible subscription commerce suite in order to enable all the various permutations of pricing, packaging and payments that it takes to capture as much marketshare as possible.

Are you giving your customers and prospects different ways to consume your service? Do you accept credit cards, checks, PayPal, or ACH? Do you allow your customers to pay monthly, quarterly, semi-annually, or annually? Have you been converted by pricing or payment flexibility offered to you by a subscription business? Drop us a line, we’d love to hear about it.

Go Bears. :-)

Comments

[Stretch wrap manufacturer]

Nice story and smart telemarketer. If I was you, I would be a member also...