Ah, the joy of late night infomercials. It’s late, buyers are tired and vulnerable. The TV is presenting the solution to all the cares and worries of everyday life.
And in an instant, viewers are the proud owners of exercise equipment, cleaning supplies, beauty products. You name the product or service and there’s an infomercial or a direct sales presentation geared to make viewers buy.
Don’t get me wrong. There are many good and valuable products that are sold by direct marketing and infomercials, which is a massive $150 billion year industry. Yet, direct sales has the inherent risk of buyers's remorse the next morning for purchasing something that appeared to be so alluring the night before.
How can you increase orders from your informercials while reducing the risk of payment processing? Give your customers the ability to pay you with an echeck and watch your sales grow.
Let’s face it. Lots of people watching infomercials don’t have cards. And more than 25% of card holders are maxed out on cards. Alternative payments such as electronic checks give shoppers another to pay you.
And when a card is declined, offer an electronic check payment option. Capture sales that otherwise be lost.
Accept check by phone orders. Accept checks online. The more ways shoppers can buy, the more sales you make.
Echecks are a familiar and trusted payment option. The wide acceptance of online and check by phone payments is due to the fact that most Americans already pay monthly household bills electronically.
Consumers appreciate the convenience and ease provided by an echeck payment. The risk of chargebacks is decreased when a payment is made with an echeck compared with a card. It is more difficult to revoke an electronic check payment than it is to dispute a credit card payment.
Echecks are also great for merchants that offer shoppers recurring billing. Echecks are more stable for recurring payments than are card payments.
More than 1 in 4 cards 1 in 4 cards are reissued every year. Cards are reissued for many reasons including expired dates, loss or stolen cards, and security breach. When a card is reissued, merchants with recurring billing need to obtain the new card information, which adds expense, reducing the overall profits on a sale.
Buyers rarely change bank accounts because it takes too much time and effort to do so. Making echecks a much more stable solution for recurring billing than card payments.
Electronic checks are the most popular alternative payment method for US buyers. Echecks are convenient for shoppers. And profitable to you.
Do you want a fast way to increase your sales?