Do you sell an online course or coaching package? Have you tried using payment plans to sell more?
We’ve just released payment plans in ConvertKit Commerce which gives you more flexibility when it comes to pricing your products!
Payment plans are a great option if you offer a high-ticket product. Since not all of your customers will be able to pay in full, installments can make a big investment seem less daunting for your customers.
With payment plans, you can set the total price, the number of installments, and the frequency of those installments.
Maybe you’re wondering how this is different from subscriptions. With payment plans, you get to choose how many times the subscriber is charged. With subscriptions, the subscriber is charged on a recurring basis until they cancel.
Let’s explore an option where you might want to use payment plans for your current and future offers 👇
P.S. Here's our step-by-step guide to creating a payment plan product in minutes.
How to sell a coaching package
Selling a coaching package is a great way to support your clients and generate consistent income. With a higher ticket offer like coaching, you can provide different payment options to give your customers flexibility. Note: try not to offer too many options as this can be overwhelming to people trying to make a decision.
As an example, Julia Woods offers coaching for couples to improve their relationships in her Marriage Thrive program. She provides three plan options based on the number of coaching calls:
Laura Agar Wilson also offers payment plans for her 1:1 business mentoring program:
One strategy that both of these examples use is to price the installments so that they total a slightly higher amount than the full amount. This makes the full amount seem like a discounted option which might make it more appealing for some customers.
To set up your own payment plan product in ConvertKit Commerce, be sure to check out our step-by-step guide.
Once you’ve added your price and installment amount, your product sales page will include the payment amount so your customers know exactly what they can expect:
Note: You will need two create multiple versions of the same product - one for the full amount and another for the payment plan version.
Check out this article for more examples of payment plan options.
How will you use payment plans?
We hope this post shows how easy it can be to set up a payment plan for your product in ConvertKit. Your audience wants to pay you (we promise), and flexibility for payments is one of the best ways to make it happen! If you’re interested in learning more, read about the feature on our blog.
Are you currently using payment plans to sell a product? How would you use this pricing for your products? Any ideas that come to mind?
Comment down below with your ideas and any questions you have about this feature!