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Subscription or Payment Plan?

Infusionsoft subscription or payment

I had so many questions when i first started out with Infusionsoft, trying to work out the best way to go. Infusionsoft subscriptions or payment plans?

One is good for invoicing, the other good for affiliates.  When should i use it?

Which one is it?  Which one is going to be best for you, and best for your customer?

Watch now for the reasons why you would each, the problems with each, 

So you don't make the big mistakes I made with them when i was starting out.

Hey folks, Jason Buckner here from Automation Made Easy.

Today I want to follow on a little bit from last week and talk to you about Infusionsoft subscriptions or payment plans.... And when you should use either one, and what are the benefits for each one.

Let's dive on into Infusion soft and have a look at the best scenarios for using Infusionsoft subscriptions or payment plans.

When should we use a subscription or when should we use a payment plan? That’s what we need to determine. There are a couple of different ways of doing things between subscriptions and payment plans and let’s go through the options.

A subscription is individual payments, so whether it be weekly, whether it be monthly, whether it be yearly. A subscription is an individual payment and an individual invoice that goes on with the payment. They’re grouped together in the respect that they are individual payments for something a greater good or a greater goal.

Their individual transactions and with an individual transaction that means you get an individual invoice, okay? Individual invoices. Now a payment plan is based on one payment for one product. It’s just split in two a few different payments. It’s split over many smaller payments to make it easier for the purchase out, for example, a subscription might be a monthly membership to a gym. Whereas a payment plan might be purchasing one product - $3000 product split over three payments to make it easier for you.

We have one invoice when it comes to a payment plan, so you have an invoice. It lists that all of the payments that are due on the invoice and it also lists each payment on there as each payment comes through it sends an updated invoice.

For a subscription you have an invoice for every payment - two very separate things there. It incorporates interest, if you've got a product - $3000 for a pay in full – and you were going to do a  payment plan of their  and  you’re adding $500 of interest, for example, you’re add in the interest component. And then the payment plan will automatically calculate out what the payments will be over that period for you. Whereas, the subscription, is a regular installment of a fixed amount.

Comparison between the two a subscription we would use for a monthly recurring membership or something like that. Something where someone is going to continue on it might be a monthly recurring for 12 months, 12 weeks, something along the lines of that. Whereas for a payment plan we would use a full product like you’re buy something all at once and you’re just slitting that into a few payments. That's where I would generally use the two or I would use a payment plan when I wanted to show the whole purchase as one invoice. That’s one of the most important reasons why I do it that way or if I wanted to show like last week's lesson. If I wanted to show both of them on one order form – pay in full and the payment plan – on one order form.

Now, we just need to make some special attention here for the payment plans and subscriptions in the referral programs in the Infusion Soft referral program there’s two different ways they dealt with. Subscriptions are dealt with basically when each payment comes through because their individual payments or towards group towards a common good. 

When each payment comes through, or each invoice is paid the affiliate or referral partner is allocated the income. With a payment plan however, that a little bit different because it one product all grouped together just split into a few payments. Either when one payment is made or when the whole thing is paid  that’s when we pay our affiliates, so it would be when the first payment comes through or when the last payment comes through that's when the affiliate gets paid in the referral partner tracking.

Important to know that if you're running a referral program. Traditionally what you would do is use a subscription for anything that are you paying affiliate on, or referrals partners on because it gets paid every single or allocated every single time a payment comes through. Whereas the payment plan only allocates when either the order is started, or the order is completed in all the payments come through.

Let's have a quick look in infusion Soft and how we set each one of those up.  Hover over the Infusion Soft logo and  go to E-commerce setup. I always go in this way rather than from the short links at the top. And then we go to products first. Let's add a product in here we'll go through the whole process and we'll go Automation Made Easy we’ll say and we’ll save that product.

Let's just give it a new name actually just so that it doesn’t sit there and I’m not sure which one’s the right one when it comes to using my product later. Let’s say for this particular one we're going to have a full payment price of $2,997 and then we can save that particular product. Now we can add a subscription plan in for this product as well. This might be 12 months worth of membership in here. A subscription plan we could bill every 30 days, and it could go for 12 cycles, and the price might be 497 per cycle or something like that.

That's how we would set up the subscription and in fact, we can just have a subscription on a product we don't need to have a pay in full plan on the product as well. 12 at 497 is this particular one and that's how we would set up the subscription. And to put it onto an order form, we go back to our ecommerce setup, and we go to our order forms, we create an order form, and then we choose that product. Automation Made Easy-- just want to get the right one Subs test-- there we go. We’ll prop that one in.

You can see here, we can either choose this as a one-time-only product, so that would be the pay in full price, or we can choose this subscription. This one were going to choose this subscription at the product and then click on save.

Now, if we go to preview this on the order form you can see here it details it's $497 per 30 days for 360 days. Now, of course, instead of 30 days I could have done this per month and done up  for 12 months in here would have made a little bit more sense in there. But you can see it’s the only option I have here is to buy on subscription.

Let's take a look at payment plan. If we were doing a payment plan say on the original product which was the $2,997 product-- where is the product? There we go $2,997.  We would go to ecommerce set up, and then we go down payment plans over here. Sorry payment plans down here, and we would add a payment plan in.

In here, we’ve got a finance charge. This is the key difference between the subscription and the payment plan. In here, we can add in a finance charge so say 2,997 and we wanted to have a say $300 finance charge for someone to pay over 3 months for example. Number of payments is 3 days between payments is 30 days and we’re going to start this straight away. We click on save.

This has setup. The payment plan for this particular product is setup. The payment plan for any product that we allocate it to, but now we need to allocate to the product. So we go product quantity criteria—down the bottom here and we choose Automation Made Easy tests – Subs test - and minimum quantity is one in this case, and maximum quantity only want people to buy one at a time, so we can choose save there.

If one product is purchased of Automation Made Easy tests which is the products that we created without paying full price earlier. It's going to have a $300 finance charge and it’s going to split the payments over 30 days by three payments. Let’s have a look at that in an order form, so we'll go and put that one in an order form, ecommerce setup, and then order forms. And then we’ll go in here payment plan test just so that  I know which one’s for our recording and which one’s not.

And then we’re going to put that product in so subs Automation Made Easy Subs test. This time we’re just going to choose the sales one-time product only, and then click on save, and if we have a look at the preview here we can see here that there’s the a test the single payment of $2,997 in this case, or the three payments of 1,099. It’s automatically calculated those and you can see here today's payment would be 1,099, then next month's 1,099, the final one 1,099, and includes the finance charge details on there.

This would be a payment plan whereas a subscription we would just have the regular recurring payments until the end of the subscription. And wouldn't get those details on here of the payment plan

Thanks guys see you all next week.

Dont make it hard, make it easy for your customers

​One of my customers, a gym on the gold coast was selling a 12 week Challenge recently.

However on the Infusionsoft order form, wanted the option for a pay in full price, or a payment plan, on the order form at the time of purchase.

If you use a subscription, it has to be a separate order form, and its a subscription, ongoing charges until it ends.

If you use a payment plan however the invoice goes out for the full 12 weeks of payments, and it appears to be contacted, rather than a subscription that always gives the appearance that you can end it when you like.

Quick video today showing you how to get that payment plan onto the order form, and showing at the time of purchase.

Hey folks, Jason Burkner here from Automation made easy.

This week I had a question from one of my customers about how to add a payment plan as well as a pay-in for option on one of the Infusion Soft order forms. What I'm going to do for you today is show you directly how to do that so you can add that option rather than having two different buttons on your webpage.

They click to go through to order and then they have the option - the two options – pay in full or payment plan. Let’s go straight on in and have a look at how we do that.

This customer was a personal training gym and they’re in the Gold coast actually and they run a 12 week challenge. It’s a 12 week get-your-body-back for a summer challenge and the problem was they had two different options.

The first option was 12 week challenge at $650, and then the second option was a 12 week challenge at $65 per week for 12 weeks. What we wanted to do was show both of them on the order form. If you have a look at the order form traditionally we go to Infusion Soft logo here, go to ecommerce setup.

The order forms traditionally, would have just the one product on there.

When we create our order form we have on there 12 week challenge and we add that product on and then we save. And then we have a look at that. We can have a look here. We’ve got our 12 week challenge on there. We could absolutely have one product and a second product, and a third product and they can choose different numbers in there or different quantities in here.

That gets a little bit difficult when it comes to the customer filling out their details - too many hoops to jump through - and they won't jump through them. What we do is we go back to our ecommerce set up. And we set up what’s called payment plan, and then we can list the payment plan on the order form with the product.

Now the payment plan in this case would be 12 weeks at $65 a week, so we would set up our payment plan there. Payment plan is a little bit different to a subscription. A payment plan is a payment plan on a full price product and we add some interesting in. A subscription is a recurring monthly or weekly charge that are runs a little bit differently.

We go down here to payment plans, and we create a payment plan. Let’s say it’s for 12 week challenge. Weekly for 12 weeks at $65 weekly. Then we go to the finance charge.

Now, this is the difference between the payment in full amount and the weekly payment amount. Payment in full in this case is 650. It’s basically 10 weeks of payment, however, the payment plan amount is 12 weeks  a payment, so there’s  two extra payments at $65 is $130 in here.

We go 130 in here and there’s 12 payments that they’re going to make. The payment in this case, is going to be every seven days and they start straight away. And so we click on save. That’s setting up the payment plan.

Now we have to add some criteria for this payment plan to allocate it to the product, so then what would you do on the bottom here is we go to add criteria, and we’re going to go product quantity criteria. And in here, the 12 week challenge is a product that I'm going to choose, and I'm going to choose the minimum quantity one.

The maximum quantity - I might choose five in there - five might be unrealistic, but if a husband and wife might join up and they might be two in there, and we want to give them the option to be able to pay both of them together. But both of them together on the payment plan as well. Maximum quantity two might be sensible to in there. Click on save.

Now, what we’ve just set up is a payment plan of 12 weeks payments. 12 weeks of payments at $65 a week because I know it will automatically calculate out to $65 a week over the 12 weeks, so by adding in the interest amount to the original product price which was 650.

Now if we go to that order form now. Let's go back to the order form and we'll go ecommerce setup,  and then we’ll click on to order forms, and then if we go to that 12 week challenge order form. And if we preview that now you can see here there’s the 12 week challenge which is in the shopping cart. However, there's a single payment of 650 or 12 payments of $65. Now if we click on the 12 payments, it sends us through to the fill in our details page and it gives us details of all those payments, but we have the option to choose which one we want on the order form.

If we use a say a subscription and a pay-in full price using those two options you’ve got to have two buttons - to different order forms - one for each one. Whereas this one to get the option to be single payment in full or the 12 payments of $65 for that period. And it even details the dates of the payments and then also details the amount of the finance charge in there as well.

Simple one today, but just a way to be able to give your customers that option. To have a single payment or the 12 payment option.

See you guys next week.

Save time with your accounting

My Accountant Dianne, bless her for all the wonderful things she does for me, is always at me to make sure my transactions in Xero match my transactions in Infusionsoft. 

Complete transparency!

Its not ok these days to just put totals in at the end of the month, nor why would we want to in this digital age?

It just takes up so much time though to manually do it, and the Syncs between Infusionsoft and Xero are just so expensive…. 

Here's a simple solution using Zapier to get the orders across!

One Click Webinar Signup

​Ever wonder how those live webinars get you to sign up with just 1 click?

Here's a little longer video today on just that, how to get people on your database signed up with 1 click on your email, rather than sending them to another opt in form that potentially waste's time and loses their interest.

Be sure to stay until later for some tips on Automated follow up emails as well....

Got to love Zapier, Infusionsoft and Goto Webinar.

Repetitive Strain on Repetitive Tasks

If there is a repetitive task, I try and Automate it.

Imagine a fast paced sales or customer service environment. Every time you leave a voicemail for a customer, you create a note, type a follow up email, send it, add the follow up date into your calendar.....

How long does all of that take? 2-3 minutes if you are a quick typer?

What if you are doing 20 or 30 of these a day?

Do you get every detail right, every time?

Imagine automating that task down to 10-15 seconds, so you can set and forget and move on to more important things?

Here's how to do it:

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