Payment Plans, High Ticket Sales, & Ethical Marketing

client relationships marketing Sep 06, 2022

If you've ever offered a payment plan, you know how terrible it can be when someone fails out halfway through. As a business owner, are there steps we can take to limit failed payments? As a customer, what happens if you really regret signing up for the payment plan? Tune in to hear my takeaways on payment plans, refund policies, and the ethics of high-ticket sales. 

 

Key Takeaways

There are always going to be two sides when it comes to failed payments, and here are the key lessons I took away from the story shared in this episode:

  1. Do your research before purchasing a high-ticket program, especially if the program has a strict no-refunds policy. It's easy to get caught up in the excitement of a launch, but make sure you weigh the pros and cons, do your research, and talk to other clients of the program just like you would any other high-ticket purchase.
  2. As a coach or course creator, be super clear in your marketing about who your program is for and who's not a good fit so your students can self-select and you only end up with clients you can actually help.
  3. If you sign up for a payment plan, you have to finish it. It's not optional. You can't unsubscribe. Don't sign up for something if you can't afford the payments.
  4. Refunds can actually be a good thing. Offering a refund window for a course or group program can be helpful for you and your clients to make sure you aren't forcing someone to continue who truly just isn't a good fit for your program and who won't benefit from it in the long run.

 

Resources & Links

 

Next Steps

Thank you so much for listening! If you enjoyed this episode, please reach out and let me know by sending me a DM on Instagram @artfulcontracts

Here are a few other steps you can take to support the podcast:

 


 

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