In May of 2013 we released a marketing course called The Fan Page Funnel. This course was priced at just under $1,000. Pretty expensive, I know.
We put together an entire product launch around the release of this new product, and quickly after we started selling, the emails started flowing in.
“Do you guys offer a payment plan? I just can’t swing $1,000 right now but I still really want the course!”
This was a pretty painful email to get. We had hundreds of potential customers who wanted to buy, but couldn’t.
So, we knew what we had to do. We spent the rest of the day figuring out a way to offer a second payment option, and we ended up creating an entirely different checkout page for it.
That meant we had to have two BUY NOW buttons on our sales page, one for each payment option. ($997 and 12 payments of $99)
How a Payment Plan Doubled Our Sales
By the time the launch ended, we had over 450 people take the payment plan. That ended up being almost 50% of our sales! Clearly, the payment plan was a good idea. And we made a lot more money because of it.
Now that we use SamCart in our own businesses, we knew we needed a way to offer these ‘2nd payment options’ to a single checkout page. This would prevent asking potential customers to visit a separate checkout page.
The Big Announcement…
Well, we have some awesome news…starting today, adding a 2nd payment option to any checkout page template inside SamCart is now possible.
We’re so excited to see what you all do with this new feature. I have a feeling we’re going to all be learning a lot over the next few weeks…
- which type of payment plan converts the best
- what’s the best price for a 2nd payment option
- how many payments converts best (e.g. 12 payments of $99 vs. 6 payments of $199)
We’ll be reporting back to you as the data starts to roll in.
What Do You Think?
Let us know what you think about this new feature below, or how you could (or will) use it in your own promotions.