Marketing payment terms help merchants improve conversion, repeat purchases, and average order value. Educating customers about Resolve and adding payment terms messaging throughout the conversion funnel will positively affect customers' purchase intent, and naturally encourages upsells and bundling.
What should we do first for marketing payment terms?
You'll want to implement different marketing campaigns for 1) existing customers and 2) new customers. We recommend first sending out an email blast for existing customers and then updating your website for new customers, particularly on the product detailed page.
If you have any questions or want recommendations, please email us at email@example.com.
What type of businesses should we target?
Established entities that pay by invoice. Example: medium-to-large businesses, government agencies, schools, non-profits, and other businesses that have dedicated accounting teams and require W-9s, vendor forms, etc. These companies typically purchase with higher AOVs.
Resellers and distributors who are looking to improve cashflows. Payment terms serve as a short-term cashflow management tool and give these companies enough time to generate sales before paying for inventory. These companies have higher repeat purchase rates and become more loyal to suppliers who offer them terms.
Marketing campaigns for payment terms
Marketing emails. We'll work with you to design the right marketing language in an email blast. The email should link directly to Resolve's hosted application or a landing page on your site which opens the application.
A link on your website. Mention payment terms via banners or links wherever your customers are researching your product. Common places include the home page, product detail page, or checkout.
Landing page. Educational pages are extremely effective in driving traffic and educating your customers about payment terms. A landing or educational page on your site is also a useful resource that you can link to from product pages, email campaigns, and anywhere else where you'd like to provide information about available financing options.
New account signups. If you have a wholesale/dealer application or new account signup flow, you can insert a link to your credit application in this flow.
Physical paper. If you send physical catalogs or brochures, you should consider mentioning payment terms with a link to the application or landing page. For resellers and distributors buyers, including a physical flyer in shipment can also help as well.
Article is closed for comments.