1. EachPod
EachPod

45: Should You Take Deposits?

Author
Chris Torres
Published
Sat 14 Oct 2017
Episode Link
https://audioboom.com/posts/7202129

Should you take deposits? Well that is a tricky question. 
This all comes down to the amount you take upfront.
Reason being if your attendance has a high dropout rate it may mean you are not charging enough so your customer does not feel as committed. By increasing the deposit, or doing away with it all together, you are creating more of a commitment in their minds.
It can be good to offer various booking options but that does not guarantee attendance.
Look at your attendance rates, make a small change and see if that makes a positive impact to your dropout rates and revenue.

Share to: