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3.1 Offer Multiple Payment Options

Best practice #6: offer two or three payment options. The two most common payment options you’ll see in the wild are monthly and annually. Usually, the annual option comes with some sort of discount. Let’s see some examples.

3.1 Offer Multiple Payment Options

Best practice number six. Offer two to three payment options. Now I'm gonna start by saying that this best practice doesn't apply to every product out there. There are cases when this simply is not possible. Now two of the most common payment options are monthly and annually. And the annual option usually comes with some sort of discount. Now Formstack uses these two options. And switching between them will update the prices on the fly. As you can see, a month-to-month subscription is more expensive than an annual one. And it's always nice to offer this option to your customers if you can. Because a lot of them choose to pay up front, one year, especially if they get a discount. Wufoo also includes a little note below the price highlighting the advantage of going for an annual subscription. There's also a toggle between payment options. As I was saying earlier, not every product can offer these options, right? For example, a pay as you go service doesn't really make sense to have an annual payment option. But when you can, it's always a nice feature to have. Now since we're talking about prices, I wanna quickly mention another best practice that you can use, and that is a currency switcher. So for example, if you're offering your product price in US dollars for customers in Europe, it would be very nice to be able to switch that price in euros. So just by clicking a button they can see the price in euros instead of dollars. That's a very convenient thing for a lot of people. Wistia nails this by including a switcher with five currencies. Now which currencies depends solely on your business. If the majority of your customers are from Europe, for example, then focus on European currencies such as euro or British pound. And that's best practice number six, use two to three payment options. Let's move on to number seven, which is highlight a specific plan. That's coming up in the next lesson.

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