I am looking for advice from people who run subscription based services and people who have input on how they like to be billed. I will consider this advice as I develop my e-commerce functionality.
I am setting up my conditions for receiving subscription based payments for the e-commerce part of my business. I am stuck between two options:
Option 1: Automatically bill users each month
option 2: Bill users in 4 quarters, rather than each month. In this event, I would break their bill up into a 50%, 25%, 15%, 10% plan, so I will get the bulk of the payment in the first two quarters. I think that there are some benefits to using this option. The user is nearly paid off by the second half of the period, and the user will not see me going into their account each month, which can get annoying. But the problem is that the first couple of payments look pretty large.
Edit: just thought of a 3rd option:
I can reverse #3 and make the first payment 10%, and build the payments up through the 4th quarter. The idea being to use the smaller payment first as the hook
**I am not billing general users for my site. It's mainly for the advertisers and recruiters that I intended to offer membership fees to.
Any advice on the best option?
I am setting up my conditions for receiving subscription based payments for the e-commerce part of my business. I am stuck between two options:
Option 1: Automatically bill users each month
option 2: Bill users in 4 quarters, rather than each month. In this event, I would break their bill up into a 50%, 25%, 15%, 10% plan, so I will get the bulk of the payment in the first two quarters. I think that there are some benefits to using this option. The user is nearly paid off by the second half of the period, and the user will not see me going into their account each month, which can get annoying. But the problem is that the first couple of payments look pretty large.
Edit: just thought of a 3rd option:
I can reverse #3 and make the first payment 10%, and build the payments up through the 4th quarter. The idea being to use the smaller payment first as the hook
**I am not billing general users for my site. It's mainly for the advertisers and recruiters that I intended to offer membership fees to.
Any advice on the best option?
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Membership Required: Upgrade to Expose Nearly 1,000,000 Posts
Ready to Unleash the Millionaire Entrepreneur in You?
Become a member of the Fastlane Forum, the private community founded by best-selling author and multi-millionaire entrepreneur MJ DeMarco. Since 2007, MJ DeMarco has poured his heart and soul into the Fastlane Forum, helping entrepreneurs reclaim their time, win their financial freedom, and live their best life.
With more than 39,000 posts packed with insights, strategies, and advice, you’re not just a member—you’re stepping into MJ’s inner-circle, a place where you’ll never be left alone.
Become a member and gain immediate access to...
- Active Community: Ever join a community only to find it DEAD? Not at Fastlane! As you can see from our home page, life-changing content is posted dozens of times daily.
- Exclusive Insights: Direct access to MJ DeMarco’s daily contributions and wisdom.
- Powerful Networking Opportunities: Connect with a diverse group of successful entrepreneurs who can offer mentorship, collaboration, and opportunities.
- Proven Strategies: Learn from the best in the business, with actionable advice and strategies that can accelerate your success.
"You are the average of the five people you surround yourself with the most..."
Who are you surrounding yourself with? Surround yourself with millionaire success. Join Fastlane today!
Join Today
