‘How to Increase Sales With Flexible Payment Terms’ – HubSpot
Shei Feinberg says, “It’s easy to feel for your customers when they can’t make payments. Hearing the plea in their voice for payment flexibility makes it hard to enforce tough terms or upfront payments. Yet, business isn’t personal, and sales leaders’ jobs hinge on figuring how to increase sales. If we gave special treatment to every sob story we’d be a charity. Right?
Providing a sense of flexibility and giving your customers terms needs to be good for your bottom line. After all, you’re accountable not only to your customers, but also to your employees and shareholders. You need to be able to articulate a solid business argument to your other stakeholders on why offering customer terms is good for your business.
Here are five ways you can use flexible terms to actually increase sales and boost profitability.
1) Reduce the Number of Abandoned Shopping Carts
On average, 68.5% of shopping carts are abandoned before checkout. These customers have already shown interest in your product or service but often fail to complete the transaction due to price point“.
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