Retailers are always looking for ways to make the shopping experience smoother and more beneficial for their customers, and one great way is by offering flexible payment options.
With the right unified sales platform, you can efficiently manage your workflow while providing your customers with convenience and variety in how they choose to pay you.
QuoteMachine offers a range of payment options to help increase sales and reinforce customer loyalty. In this article, you’ll learn more about these options and how they can work for your business.
Option 1: Online or in-person pre-order payments
Changing up the shopping experience, boosting sales, and delivering products quickly are all possible through pre-orders. Pre-orders can be an effective way of selling, raising sales and reinforcing customer ties by transforming a prospective sale into an actual purchase.
They also help your business to gain visibility and clarity for predicting income and gauging demand, allowing customers to savor the traditional excitement of expecting their new preferred product.
Option 2: Partial Payments
Another great payment option is installments. By allowing your customers the flexibility to pay for their purchase in installments, you can positively influence your cash flow. Not only does this help to increase order numbers and average cart size, but it also creates a better customer experience as they have the convenience to spread their payments and not have to pay for everything upfront.
Option 3: On-account payments
Consider the strategic advantage of using on-account payments to enhance your customer relations. Set customizable payment terms on your invoices, whether that’s 10, 30, or 60 days–you should determine the optimal payment duration that fits your business model to maintain full control over your finances. To manage risk further, you can even save cards on file to manually or automatically collect the payment when it’s due. This approach not only stabilizes your cash flow but also ensures a smooth payment process, positioning you as both adaptable and attentive to customer needs.
Option 4: Recurring payment
Consider the benefit of subscription models to establish regular payment with your customers. By leveraging the option to save cards on file, you can further streamline the process, while also handling additional transactions that the cardholder may request. This setup promotes both steady revenue and a smoother payment experience for everyone involved.
Today’s consumers care about more than just products and prices— flexibility plays an important role in their overall shopping experience.
Interested to learn more? Catch our webinar replay strategies to grow your revenue stream with flexible payment options.