![]() ![]() The key is finding the right groups of customers to offer the perfect discounts to, which should increase the likelihood of quickly triggering a sale. ![]() You could target this select group with an even larger discount offer on a specific product, as they are more likely to buy. Perhaps your sales data shows that another subset of customers only purchase when products are 25% off. You could send a message to your most loyal customers to offer them a loyalty discount on a certain product. You may want to offer discounts to every customer, but you might have to give up too much long-term revenue.Īnother option may be to analyze your customers’ transaction history. This may result in lower total revenue in the long term, but obtaining a percentage of that long-term revenue in the short term is better than defaulting on business obligations. A great way to generate short-term cash flow is by offering custom discounts to specific customers. There may be times when your small business needs to generate short-term cash flow to meet financial obligations, such as unexpected maintenance expenses or adding a new employee to payroll. Increase Cash Flow by Offering Discounts to Specific Customers An installment plan allows you to work with your clients, and if necessary, you can hatch out a plan or create a specialized agreement for a specific customer. A client on an installment plan may be able to pay a large enough amount to cover multiple months at once. ![]() Your client may be a seasonal worker or a freelancer with an unpredictable income. Another benefit of an installment plan is that it allows you to offer a flexible payment option. The payment plan can become another legal, binding agreement between you and the client. It’s a good idea for you and the client to agree upon a set amount.Īn installment plan allows customers who are behind to start fresh and gives them a new opportunity to pay on time. Then, you can determine a manageable monthly payment for this client. You can continue providing services during this time or put the services on hold until the customer pays the balance in full. First, think about giving the customer extra time to pay the past due amount. This type of agreement outlines a payment plan for the future that breaks an invoice down into payments your customer can manage. Consider establishing an installment plan for clients who consistently fall behind on their payments. ![]()
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