Understand Your Buyer > How To Convert > Paid for Flexibility
What is it?
When you book something like a plane ticket, but you need the flexibility to change or cancel it without penalty, then often you can pay for this convenience.
Why does it work?
It works because although we’re seemingly paying a penalty to avoid a potential penalty, the convenience of the flexibility and the avoidance of paying a charge or losing our ticket entirely makes it an attractive proposition. As a business it also provides additional revenue and makes you appealing to those who have erratic schedules and may not wish to “risk” booking with you in case they need to cancel.
How can you use it?
Depending on your business, you could have two charging models for the time/resources you allocate to clients. The first charge is a standard fee for the session/plane ticket/access, but it’s non refundable. The second is a “flexible” charge which is more, but allows the client to not lose their booking should anything change.
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