EFT Selling

[daredvl_edm]

How are you guys out there selling your EFT's to customers. I am finding they want the lower rate for the unlimited, however when you ask for there bank statement information, and explain to them of the monthly payment, they decide to do it on a 1 month basis. Am I missing something?

[CROVINE1]

BANK STATEMENT, just get a credit card

[enuf]

If they want the month to month thats more money in your pocket.

[unity]

Ya.... why would you want a bank statement?

[daredvl_edm]

Bank information to have the funds transferred from one account to the other. Yes month to month is more money in my pocket for sure, however the commitment is what you want, is it not???? So they sign up for 6 month unlimited, and it comes off there credit card or out of there bank account, which ever they prefer. My question again is how are you guys selling your EFT's, not whether its on a credit card or bank information.

[unity]

We sell them the same way you do, just dont require bank statements. We only do EFTs with Debit/Credit cards. That way if there is a decline there are no NSF fees to deal with. Works out well both BOTH parties.

I am not sure what or who you are using to setup transfers, but if you are using checking accounts are you need is a voided check which has the routing info - nothing more.

[Din]

i find EFT's suck in Canada. Stopped doing it a few years ago.

[daredvl_edm]

I find that they aren't very good myself, however Planet Beach is big on EFT's, so WTF! How are they doing it?

[Din]

Planet beach in the USA? Haven't you figured out Canada is completely different than USA market?

[daredvl_edm]

We have planet beach here in Edmonton and they are big on EFT's out this way. Fabutan as well does EFT's big time out here. We have both companies out west here. So i guess i am referring to this side of the country! :-)

[mule14]

Our bank offers us a direct debit system so all we need is the customers banking details (account number etc). The fees are more expensive, however we simply pass this on. Its so much more convenient, allows us to set the frequency of the payment (weekly, fortnightly, monthly) and also to add additional products (eg lotions) to be added as additional transactions from there account. You'd be suprised how much easier it is to sell clients lotion if they can add it to their membership payments instead of paying for it upfront.

I'm sure that if we were asking for customers Bank Statements we'd find it a lot harder to sign clients up.

We do offer customers the option of credit card debits, however these prove to be the most common to decline. When you have authorised debits coming direct form the clients bank account, Australian banks tend to honour your payment and pass the penalities for being overdrawn to the customer... teaches them very quicky to have sufficient funds in their account or they'll cop a $30 overdrawn fee.

[GeminiTanning]

Once I changed the wording on my EFT package to "VIP Membership," and made it stand out more on my pricing sheet, it started selling better. I give 20% off of lotions all year, and a free gift with purchase.

[daredvl_edm]

Thank you for your reply. I will give that a try, it sounds like it could work.

[Glowtanning530]

Its all in your wording. People dont like hte word contract they like "membership" or "agreement"
We offer a few choices as far as commitment goes, and xamount off skin care. Get your employees excited about it. Make sure they know the basic math and break down of what they are saving vs spending, and the price has to be eyecatching and low enough its not worth canceling. " How much can I charge you to not tan" . Have a monthly contest where your employees compete for who can sign up the most.

[Din]

Originally Posted by GeminiTanning

Once I changed the wording on my EFT package to "VIP Membership," and made it stand out more on my pricing sheet, it started selling better. I give 20% off of lotions all year, and a free gift with purchase.

That's what i did from the beginning...it was called a VIP membership. 10% off packettes/accessories, 20% off bottles. Didn't work great up here in Canada. Well it did, but nobody ever wanted to upgrade.

Dumped it...and changed things around, sales went up about another $80k more per year, tanning the same amount of customers. Best move ever was dumping EFT.

[aeltiger]

Dean, by "dumping" your EFT plan did you find that your slow season was slower/made less money. I can easily see how you would make more money during busy season by not having EFTs, but I would be so afraid I wouldn't make it through slow season. We slow down so much in slow season that even if our PCA was $15, we still wouldn't get by. I mean, some days in Oct or Nov we only see 20 ppl!

[unity]

I needs my EFTs!

[daredvl_edm]

I have a few EFT's and do need more of them. Its tough selling them at this time of year, but I am thinking when it gets to be September, Octoberish, when all the people are returning to tan, then I will sell it, and I think it will work for me. Lets hope anyways. :-)

[archback]

Originally Posted by Din

That's what i did from the beginning...it was called a VIP membership. 10% off packettes/accessories, 20% off bottles. Didn't work great up here in Canada. Well it did, but nobody ever wanted to upgrade.

I'm also in Canada and EFT works great for us, so it's not because you're in Canada but it's because of your market. Some markets a membership program will work great, but that depends on your clients and how your staff sells it. We think everyone should be on our VIP program because it's the best price all year, they get discounts off product, and they can just pay $75 to cancel anytime.

It's cheaper to process EFT payments on their bank account instead of credit cards, but we have a lot of both. We do EFT with our bank and it works great!

[Din]

Originally Posted by aeltiger

Dean, by "dumping" your EFT plan did you find that your slow season was slower/made less money. I can easily see how you would make more money during busy season by not having EFTs, but I would be so afraid I wouldn't make it through slow season. We slow down so much in slow season that even if our PCA was $15, we still wouldn't get by. I mean, some days in Oct or Nov we only see 20 ppl!

Amy,

I do reports, my sales have gone up every single year, all months, across the board. Busy or slow season, doesn't matter.

Slow season,when i had EFT, people would come in, pay $18.88/month and tan in base bed. Even if you got 20 ppl coming in, 15 of them had VIP membership, would tan in base bed and leave, they'd do that 2-3 times a week and all you got out of them was $20/month and maybe a packette here and there.

Now in packages, they'll buy the $50 package, tan 4 times in an upgraded bed which would last them 2-3 weeks and they' buy another package....again, even if they bought same amount of packettes....they are using higher bed so it wastes package faster, they get better tan and they spend more money!!!

So even if you had really bad slow season and you were only doing $5k-$6k a month, you'll see it change to $10k-$11k a month. Again, pretty much double.

Not saying it's a guarantee....just what i noticed since i dumped my EFT's. They are spending a lot more now, they are doing upgraded beds and nobody does base beds. WHY? Because i don't give them a super cheap option to do so. Take that away the FREE base beds unlimited...and now since they have to pay, what's another few bucks to do the better bed since they have to pay anyways....right? Well that few bucks more each time $3-$5 more per visit times X amount of sessions a year, equals????? About $80,000 more in your pocket. That's what.