Would ❤️ to also know your opinions in the COMMS too 👇
Since I was a kid, I have only known one way of collecting recurring payments
& that has been on a monthly basis 📆
With everyone getting paid at the end of a month, you always set-up recurring payments to come out in the first part of the month
Well… having spoken to a number of FitPros based outside of the UK, there seems to be a trend with having a slightly different way of collecting recurring payments, plus the reasoning behind it make total sense
When you check your bank statement each month, you eyes always gets pulled to those bigger numbers right?
The 3, 4 maybe even 5 digit numbers & if finances are not great, those are the ones that are looked at & seen how they can be removed
This is why many fitness business I have spoken to outside of the UK have been switching to WEEKLY payments
1️⃣ £30 on the bank statement looks better than £120
2️⃣ You actually make more money weekly: £120 x 12 = £1440 / £30 x 52 = £1560
I only really have one counter argument to weekly payments & that would be
The number of times they see that £30 on their bank balance, surely frequency of seeing a transaction might be a reason to also cancel it?
What are your thoughts?
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