Understand Your Buyer > How To Convert > Pay Now Start Later

What is it?

Allowing buyers to pay first to secure something, and then choose when to use it start it at a later point allows you to capture more potential business by removing time restrictions as a possible objection. 

Why does it work?

It works because it gives buyers a choice and makes you easier to deal with. Not everyone is ready to buy right now.. but they may be happy to pay now – either a deposit or in full – knowing they have secured a deal or their space which they can then use when they are ready. Using this mechanism ensures you secure the business, but you don’t have to push the buyer or take their control away.

How can you use it?

6 different ways to structure payment for your offering:

1. Pay now start later-Allow buyers to secure something but not take delivery or use it until later when they are ready.
2. Pay on results  -Take payment when you have delivered the desired result for your buyer
3. Pay as you go – Allow buyers to pay as they consume your offering.
4. Prepayment  Allow buyers to create a credit balance that they can then draw down.
5. Buy now pay later – Allow buyers to “buy|” today but not actually pay for the item until later in the future.
6. Finance – offer finance and instalment payments to ease cashflow for your buyer.