We are proud to present you the most progressive way to sell your Courses and Bundles with Installments (for Pro and above plans)!
Motivating your school visitors to purchase your products is of great importance in order to expand your clientele and your school’s sales. Selling your courses with installments can help you gain more conversions as your future students will be more interested in an easier way to purchase. Installments will give the student the chance to opt for a more expensive course or bundle, since it can be much encouraging to buy a product that can be paid in smaller and manageable amounts as the cost concern is then significantly reduced.
By offering to your students flexible installment options you not only earn their loyalty, since you allow them to stay in touch and build a long term relationship with you, but also increase your school’s conversion. Any buyer is much more attracted when being able to purchase an expensive product when the amount is split, as it can be much more payable.
By creating payment plans for your courses, you lure your school’s users to buy a product that maybe they couldn’t afford to pay out in a one off large sum. So, why not gaining a large deposit upfront and also allow them to choose the most affordable payment plan? Let’s say that you wish to sell your new awesome Course for $500 but you are worried that if a user decides to pay with installments, they might change their mind and cancel the plan. What you can do in order to ensure that you will keep your student committed and also earn a considerable amount from your course, is to request an upfront payment of $250 and then let the user pay off by 5 monthly installments of $50. In fact you can also show even more flexibility and ask for the first installment two or three months later.
Pretty smart right? Wanna see how to create your own payment plans? Let’s find it out together!
In your Course menu, you can find the new tab : “Pricing” which will be accessible only to schools that have connected Stripe as their payment Gateway.
Payment plans for Courses
By clicking the button “create new payment plan” the respective settings window will pop up, where your can create a payment plan according to your preferences and your school’s philosophy.
In the Payment Plan’s Settings window you can edit the following:
1 Select the type of the plan.
Decide whether the payment plan requires an upfront payment or not. If an "Advanced payment" is selected as a requirement for the purchasing of the plan, then some additional options will be displayed right below( below no 2 " Number of installments").
a. Initial payment amount
There you can adjust the amount of the initial charging, which will be paid upon the user’s enrollment.
b. First Installment, after the initial payment
You also have the option to set the time that the first installment for the plan will be charged. You can decide whether the user will pay for the next installment in a month, on a specific date
or some days after the initial payment.
2 Number of installments
The installments can be as many as you prefer, it is up to you!
3 Amount per Installment
Set the amount of money that will be paid for each installment
Manage the interval of the payments. You can choose to charge your customer every 1, 3 or 6 months.
5 Payment Plan Status
Change the access of the payment plan whenever you feel to.While preparing your plan you can leave it as a draft (it will be invisible) and publish it only when it is ready.
6 User can cancel the payment plan anytime.
Select if the user will have the ability to cancel the payment plan whenever they want.
7 Plan availability
The period that the payment plan will be available.Just click on the date field and select the period during which the plan will be visible as a payment option through the pop up calendar. This choice is optional, so you can also leave the field blank.
8 Payment plan name
If there is no name added to the field, there will be automatically generated a plan name according to the plan’s settings.
9 Payment plan description
You have the option to add a description for the plan, which will be visible only in payment zone.
The order that the payment plan will be shown in the drop down menu below the “Enroll”button
Or in the dropdown menu found in the Check out page.
Attention: After having completed the payment plan setup, only specific fields (plan name, access, valid period) can be edited and the rest of the settings will be locked.
-In the Pricing tab you can have an overview of the created payment plans.
Hover over the right column, named “Actions”, you can find the buttons to copy the plan’s URL (arrow), to check the plan’s settings (gear) or to delete the plan (trash can).
Remember: When the author deletes a payment plan, if the payment plan has been purchased by a user then it gets archived (appearing in the list) otherwise it is deleted and eliminated by the list.
Payment Plans for Bundles
You can also create payment plans for bundles and the process for this is pretty similar to the one for the courses.
Just navigate to Marketing Tools-> Manage Bundles, hover over the the Actions column and click on “Edit Properties”.
In the Properties window find the button “Create new payment plan”
Then manage the new plan in the “Create payment plan “ pop up window as explained above.
Save and then find the new bundle payment plan the Pricing page of each course that is included in this Bundle, in the field “Related Bundles”. In that field you can always find the bundles that contain the respective course.
Pricing page- Subscriptions
Accordingly you can find below a list with the related to the course subscriptions.
Pricing page- Coupons
In the last field of the page named “Related Coupons”you will find any coupon created and can be applied to the course, its related bundles or subscriptions.
Note: When the user has an active payment plan this is displayed in their “Account page”, just like a subscription. If the payment plan can be canceled (setting no 6 ) then the user will be able to click the “Cancel” button and cancel the plan anytime.
In the email notifications you can now find the “Payment Plans” category , through which you can activate automated emails referring to specific relevant events.
1. Payment Plan Installment Paid email: Send a message when a Payment Plan Installment is paid
2. Payment Plan Installment Payment Failed email:Send a message when a payment plan installment payment has failed.
3. Payment Plan Completed email:Send a message when a payment plan is completed.
4. Payment Plan Canceled email :Send a message when a payment plan has been canceled.
Just like with the rest of the email notifications , once more the author can decide which notifications will be activated and also edit the emails that will be sent to users. These emails can also be tracked in Emails Log page(Activity->Emails Log)
Notification Emails - Admin Settings
Along with all the notifications you can receive, you can also activate the option, “On cancel subscription/payment plan”. This option will send a notification email in the case of a subscription or payment plan cancellation to the email address selected on the same page.
For more information on Admin notifications check this article.
When the author attempts to manually unenroll a user from a product which is part of an active payment plan, then an alert is displayed informing the author about the product’s status. If the author proceeds to the unenrollment, the product is removed from the user and the payment plan is canceled.
Payment Plants will also produce the respective Events and Emails.
The activities that are produced in payments plan procedure are:
Purchase Event :When the payment plan Starts (after 1st Payment)
Installment Paid: After 2nd Payment and the following
Installment Payment Failed :When a payment fails for some reason ( i.e. Card expired)
Payment Plan Completed: When the Payment Plan’s cycle is completed (Last Payment)
- Payment Plan Canceled: When the payment plan is canceled,(1.Admin manually unenrolls a user - 2.User Cancels the payment Plan - 3. The payment plan fails due to payment failures)
When Email Notifications are activated, they can also be tracked from the “Emails Log” page.
Note: After the following events :
1. Enrollment in a Paid course with a payment plan
2. Payment Plan Installment is Paid
3. Payment plan completed,
an email will be sent ( “Payment Plan Payment Paid”) having also the respective invoice attached.