I Never Say This In a Sale…

Summary

• I don't use the term "paid in full" because it's a salesman's term and not a customer benefit.
• If a customer prepays, they should get a benefit. "Paid in full" sounds like it's only good for the business, not the customer.
• I corrected my team when they said "paid in full" to customers because it feels gross.
• Instead, I prefer saying, "We have a prepayment discount," which sounds more appealing and customer-friendly.

Video

How To Take Action

Implementing changes doesn't have to be complicated or costly. Here's what I suggest:

Update Your Language:
Avoid terms like "paid in full." They sound self-serving. Instead, say "prepayment discount." This shows customers they benefit, not just you. Train your team to use this language. Role-play scenarios where they use "prepayment discount" so it becomes natural.

Communicate Benefits Clearly:
Always focus on what's in it for the customer. When discussing payments, highlight the advantages of prepaying, such as saving money or receiving additional perks. Make this a standard part of your sales pitch.

Create Customer-Friendly Offers:
Design your payment options to be appealing. For example, offer a clear, attractive discount for those who prepay. Make sure this is visible on all customer-facing materials like your website, flyers, and emails.

Feedback Loop:
Ask customers how they feel about your payment options. Questions like, “How did the prepayment discount make you feel?” will give insights. Use this feedback to fine-tune your approach.

Monitor and Adjust:
Track how often customers choose the prepayment option. If the uptake is low, revisit your offer. Maybe the discount isn't enticing enough, or perhaps your team isn't presenting it effectively.

By implementing these simple, low-cost strategies, you can create a more customer-friendly payment process and potentially increase your cash flow. Focus on language, benefits, and feedback to keep improving.

Full Transcript

I don't say paidon fools that's a Salesman term not a customer benefit if you prepay you get a benefit whereas paidon fool is like I got all the cash up front good for me I also heard my team saying that to customers be like hey if you want to pay in full today it's just like kind of gross I prefer to say like hey we have a prepayment discount