How PayPal Subscribe Buttons Can Improve Cash Flow
Posted on 10 March 2010 by jasonverdelli
During a week’s time I, and probably you as well, talk to several hundred people. Since I run my own company a majority of these call are business related. I took notice to something this week that I don’t normally take notice to. Naturally, a large part I take notice that in some way, shape or form we base a large portion of decisions on cash flow. Essentially the money that we needed yesterday. Maitaining a steady cash flow in your business or personal life is extremely important not just financially, but also it can effect your stress level. Throughout the first few years of getting my business off the ground, I couldn’t tell you how many times that I sat around thinking about money or should I say worrying about it. Of course this can happen to you when you go from making a bi-weekly pay check to only making what comes through your mailbox.
The more I started to take notice to this underlying worry not just myself, but in other people, the more I realized something. Then a key word came to mind that I have heard time and time again, OPTIONS. Giving potential/current clients more options to do business can be a way to start increasing cash flow and making it more attract to conduct business. Here is what I mean…Start thinking of ways that you can RESIDUALIZE YOUR BUSINESS. If you are a non-profit organization, start thinking of ways that you can make it easier for your donors to give. Create a better perception of the dollar amount that they are giving you – for example, ask your donors if they would like to give “x” amount of dollars per week instead of yearly. Think of it in the case of a sale/donation of $1,200/year. If you broke that down to a monthly payment it is only $100/month. Even better, if you break it down to a weekly basis it is only $25/week. This will then give you the opportunity to state something like this…”For the price of lunch every week you can make “x” difference in someones life”.
So before you start to lower your price just to make the sale, consider breaking up the payments for your clients. The one crucial aspect of this is to make the payments automated. PayPal makes this easy for you to do. You can setup a “Subscription” button on your website, blog or even email that allows them to pay either via their own PayPal account or by credit card. When you are making the PayPal button you can setup parameters that allow you to choose the frequency of billing (once per day, per week, per month, every two weeks, etc.). To get started in offering a payment alternative, such as PayPal, is rather easy. All you need to do is have a PayPal account, which is free by the way. Once you do you will be able to navigate around in your account to setup your button and then add to your website or blog.
Be sure that you know what you are doing when creating your subscription button. The last thing you want to do is setup your button improperly and then not properly charge somebody.
The best part about the subscription using PayPal is that it will automatically bill your client however often as you have setup the frequency (i.e. once per week, etc.). You will be doing your clients a service by not making them write checks and have to mail them and yourself a service by not having to wait for your money. This will significantly increase your cash flow and make it more attractive for your clients to do business with you.
To learn how to actually create a PayPal subscription button, be sure to register for the Web Tool Kit right here on jasonverdelli.com. Here is a link: Web Tool Kit Registration
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Tags | Business Development, cash flow, online marketing, online memberships, online payments, payments internet, Sales, website subscriptions
