How to get your first 100 customers with flexible installment plans.

Most times we want to validate our ideas, whether it’s a big business idea or a simple product to serve thousands of users. One of the tested way to validate whether you should work on the product is getting paying customers even before you launch your product. 

If you’re launching a new product, especially a digital product, a pre-order strategy is a highly beneficial component to incorporate into your plan.

Pre-orders can help you generate buzz, build needed momentum before your launch, gage the market demand for your product and, most importantly, lock down early sales and customers.

When launching a pre-order strategy for a product, you can allow your customers to pay a deposit or pay the full amount for the product in order to reserve it before it’s available. However, if the product is going to take a longer time before it becomes available, like 6 – 12 months away, offering a flexible payment plan would guarantee more sales. 

Here are some key reasons flexible pre-order plans are the best way to lock down early sales and customers;

1. Instead of selling your product at a cheap price because it’s in pre-order, you can sell at the right amount with flexible payment plans.
2. Most customers would not want to pay an upfront amount if the product launch date is still far into the future. However, most would commit to a smaller instalment plan each month towards the products.
3. Flexible payment plans help you build a trustworthy relationship between your business and the customers.

How to get started accepting flexible payment plans

Implementing a flexible payment plan can be challenging if your current payment processor doesn’t already support that. Also, the solution or platform you’re using to sell your product might not have support for flexible payment plans.

To solve this problem, we built PayFlexi. PayFlexi allows merchants to accept customizable payment plans from their customers at the point of checkout using their existing payment gateway. PayFlexi supports automatic recurring payments are such that the customer will be charged automatically for his next due amount based on their payment plans.

PayFlexi also integrates with your existing platforms and solutions, making it easy for you to offer flexible payment plans to your customers. You can check the list of integrations here – https://payflexi.co/integrations

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