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Easy-Pay Pricing

 

DisciplinesMarketing > Pricing > Easy-Pay Pricing

Description | Example | Discussion | See also

 

Description

Make it as easy as possible for customers to pay, and they will be more ready to pay you. For example you can:

  • Make the prices equal to (or just under) whole notes or coins so they can pay cash easily.
  • Encourage the use of credit cards and use a good credit-card system that is reliable and easy.
  • Have a 'take it home now and pay later' invoicing system for trusted customers.
  • Use 'cash on delivery' so they can pay when they are at home rather than having to do this in the shop.
  • Use a self-scanning system so they scan barcodes themselves and have no need for repacking things from their basket.
  • Have a pre-pay system where they 'save' with you and spend from this credit balance.
  • Have helpful, friendly attendants who make paying a pleasure with their chatter about 'great purchase' and help such as in wrapping the items bought.

Example

Most business-to-business purchases use invoices.

Local bus and train systems often use pre-loaded payment cards that are used to swipe through turnstiles or when getting on the bus without having to pay.

Many supermarkets are moving to easy-pay options.

Discussion

Paying is generally an uncomfortable experience for many people, for example as they hunt for the right change or experience panic as they worry that credit cards will be refused. While paying, they also realize that they are going to be poorer as a result of this transaction. Even the thought of such discomfort can put off customers from buying things in the first place.

Easy payment takes customer's minds off all this. Done well, the payment process becomes a pleasing closure on the deal.

See also

Customer Price Thinking

 

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