I got a question from Grant Williams who’s currently bootstrapping his explainer video business, and he asked me what’s the best and most professional way to accept money from high-paying clients.
To make my answer short: The more the better.
When someone is giving you a large sum of money, why restrict the process in which they can give you money? Why not be flexible and allow your client to pay you in his or her preferred method?
I’ve had clients in the past that refused to do bank wires and only did PayPal. And on the contrary, I’ve had clients only do bank wire.
Imagine. Your customer is already sold. He, or she, saw your ad, loved your product, wants to buy. They go in your store, they add to cart and then right at the last moment they don’t have a way to pay. They went through your whole sales funnel and you lost them on the last decisive step.
That’s pretty much a broken sales funnel. Right product and right audience, but then you can’t close the sale.
You don’t want this to happen. Believe me. This is the worst way you can lose a customer. It’s like losing the final game of a competition. You pass through every hoop and then you lose.
When it comes to payments you should reduce friction.
You need to. I can’t say this enough.
You should try to eliminate all the little obstructions. Avoid the awkward moment where you have to say: “Sorry, but I only accept PayPal payments.” Set up multiple payment options and be flexible about it, make it as easy as possible for clients to pay you.
Facilitate. Always.
Make the sales process as smooth as possible. You want it to be the path of least resistance.
Make sense?
Great!
Hope it helps. 😉
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