A pizza shop owner couldn’t afford $4,000 for direct mail.
He proposed a simple idea that changed everything.
Tony wanted to mail out 10,000 pizza menus.
But there were two problems:
He didn’t have (or want to spend) $4,000 in cash.
And he definitely didn’t want 10,000 mailers hitting the same week.
It would slam his business and hurt his reputation.
So here’s what Tony proposed:
- Spread out the 10,000 mailers over 10 weeks
- Pay at the end of each week, after the mailers go out
The direct mail company agreed to try it.
And it worked.
Tony was making more money from the mailers and kept incrementally increasing his spend.
The company was happy since they just created a new business model that today sends over 200 MILLION pieces of mail per year for locally owned businesses.
This isn’t a story about pizza or direct mail.
It’s about payment plans.
Most people and businesses live paycheck-to-paycheck.
Instead of using that as an excuse, make it your competitive advantage.
My business does $1M per month in payment plans.
I’d love to see us hit $2M next year.
Customers who do payment plans spend 4X more than customers who swipe a Visa.
How much of your revenue comes from payment plans?
If it’s under 10%, you’re leaving money on the table!
Cheers!
Brian
