Turn Potential Customers into Paying Customers with Free Trials

Oct 16, 2014
Client at shop paying at cash registerThe modern business is constantly searching for strategies to gain more customers and increase profits. Offering free trial promotions is an effective way to convert potential customers into paying customers. Free trials allow for consumers to use products or services for a limited time, and once the trial period is over consumers are then asked to discontinue use or to purchase the product or service. In this situation, businesses hope that the consumer will purchase the product or service, thus converting a potential customer into a paying customer. But is the free trial an effective sales generating tool? Many marketing organizations believe so.

Why Invest on Free Trials?

Free trials are a great way to introduce new products to the market to generate interest and eventually procure sales. In order to make free trials a part of your marketing plan, experts believe that companies should put aside 10 percent of their budget to fund trials. They must also secure a trial offer merchant account broker that specializes in high risk businesses. Payment processors that deal with high risk businesses are good allies because they will not penalize or overcharge your account due to the risky nature of free trial merchant accounts.

Before offering a free trial, it is crucial that businesses strengthen their online credibility, as many users will research your company before accepting even a free trial. Use social media and reviews to make potential customers feel safe in choosing your product to sample. When executing free trials, organizations must target the right market and treat them extremely well. The right person, is the consumer that believes your products are highly desirable or are a necessity for their lifestyle or career. Once you have this person, woo them as much as possible and they will do most of the advertising for you. Also ensure that you are honest about the benefits of your product. If consumers find out that your trial offer promised something it didn’t deliver, then they most likely will let others know.

Good communication and feedback are the final ways to turn free trial customers into paying customers. Consumers like knowing that they can talk to customer support at any time and they also enjoy providing feedback. Productive feedback will help organizations make adjustments where needed and make an even more provocative product which will acquire more people interested in your free trial offer. If your business is looking for a way to boost their sales, free trials is a valid and sometimes business saving strategy.

Contact us for a free trial merchant account today!

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Having a merchant account allows an account holder to take advantage of merchant cash advances. When a merchant is approved for an advance, the business agrees to receive a lump sum of cash in exchange for an agreed-upon percentage of future credit card sales.

Pricing varies depending the merchant’s industry, past credit card processing history, the type of business seeking the account, average ticket sales, and average transaction volumes.

Yes, EMB works with merchants who are building their credit, as well as those who have poor credit. EMB also approves merchants that have no credit card processing history and businesses that have lost their merchant accounts due to high chargebacks.

Several factors influence a merchant’s risk level. Though only one factor likely will not get a merchant classified as high risk, a combination of these may: business size, location, and industry, credit score, credit card processing history, a industry’s reputation for excessive chargebacks, a prior history of high chargeback ratios, and whether a merchant exclusively sells online.

Virtual terminals are stationed on a merchant’s website, making it easy for customers to make a payment or purchase online. Merchants or a payment processor can easily set up virtual terminals, so online businesses can accept credit and debit card and e-check transactions.

A merchant account is a business account with an acquiring bank. Without this business account, which actually works more like a line of credit, a merchant cannot accept and process credit and debit card transactions. Businesses need a merchant account to accept major credit cards via a static point-of-sale terminal, mobile card reader, or through a virtual payment gateway.

After filling out EMB’s simple online application and submitting any necessary, requested documents, many merchants get approved within 24 and 48 hours.

EMB specializes in working with high-risk merchants. EMB works with many merchants, including but not limited to businesses in these industries: gambling and gaming, adult entertainment, nutraceuticals, vaping and e-cigarettes, electronics, tech support, travel, high-end furniture, weight loss programs, calling cards, e-books and software, and telecommunications.

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