Forum Discussion

Verified Community Coach

7 days ago

Solved

Would you offer a discount for monthly autopay?

A few years ago, we introduced an AutoPay incentive for our recurring clients by offering 5% off for enrolling (think subscription and a huge influx of cash flow on the first of the month). It worked...

Wolfcubjr
5 days ago
Interesting! I’m looking at doing subscriptions that will allow them to have discounts and advantages over not (think VIP service and turnaround, waving trip charges, etc). However, I hadn’t thought about the discounts for autopay. Maybe a monetary credit on their first bill for signing up for autopay? AT&T gave me $20 -something like that - for autopay, but not ongoing. Most people once signed up for autopay keep it going. So why continue a discount? What’s the reason you have done it? Do you feel you’ll loose people if you take it away?
Maybe let your clients know you’re doing away with the program, give everyone on the 2.5% charge a $25-$50 credit the next billing and $50-$100 for your longer loyal customers - Something to acknowledge their continued support. Then take that money you’re gaining back and use some of it for more client appreciation gifts, events and acknowledgments.

Wolfcubjr

Contributor 3

5 days ago

Interesting! I’m looking at doing subscriptions that will allow them to have discounts and advantages over not (think VIP service and turnaround, waving trip charges, etc). However, I hadn’t thought about the discounts for autopay. Maybe a monetary credit on their first bill for signing up for autopay? AT&T gave me $20 -something like that - for autopay, but not ongoing. Most people once signed up for autopay keep it going. So why continue a discount? What’s the reason you have done it? Do you feel you’ll loose people if you take it away?
Maybe let your clients know you’re doing away with the program, give everyone on the 2.5% charge a $25-$50 credit the next billing and $50-$100 for your longer loyal customers - Something to acknowledge their continued support. Then take that money you’re gaining back and use some of it for more client appreciation gifts, events and acknowledgments.

roselvaggio

Verified Community Coach

3 days ago

I love the way you’re thinking! And yes, we were hoping to eventually switch the entire client list to a subscription model, but about 12.5% of our recurring list has opted in (I also think there are elderly with fixed income, people living paycheck to paycheck, etc) that the autopay would simply not work for. It appears YoY there’s about $9.8k going out in discounts alone. I hadn’t considered removing it, but now you’ve got me thinking!