Termly billing of customers is unhelpful, both for the customers themselves and for you as an organisation. It means that customers have to find a large sum of cash upfront in order to join the club, and then have to do the same every 3 or 4 months to keep going, which for a lot of people is by no means easy.
For you and your organisation, it makes your cash vietnam rcs data flow unpredictable and under strain. You’re reliant on 3 or 4 times a year to collect all of your revenue and then have to manage that revenue carefully for 2 or 3 months until you get your next slug of cash. If customers don’t pay, or more customers leave than expected, a termly billing frequency model will immediately put you under financial pressure and restrict your ability to proactively protect your income.
The answer is alarmingly simple when it comes to getting customers to pay – Look at how they pay for everything else in their life. Mortgages, utility bills, credit cards and pay all largely work on a monthly basis. If you’re able to work alongside someone’s other incomings and outgoings, you’ll not only make it easier for them to see how you’ll fit into their financial life. You’ll also reduce that first barrier to entry by not requiring an entire terms worth of fees upfront, making you accessible to a far greater number of potential new customers.