How To Get Paid From Your Lists Advertisers or Sponsors Faster
By Christopher Knight
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Editors Note: This tip was given in a time when most publishers trusted their advertisers to pay them after a campaign had run. Times have changed and only established relationships are usually offered terms today -- whilst the rest must pay upfront before a campaign starts.
Offer to double the exposure or additional insertion in your ezine website for them, in exchange for pre-payment. This is by far the most successful promotion I've offered to get paid upfront for the advertising I've done on with our newsletters.
The above offer can be implemented almost all of the time, because very rarely are ezines or websites SOLD-OUT of their total advertising inventory ((and if you are, raise your prices my friend! :-)).
You should also accept Visa/MC/AmEx/Discover (and even PayPal), so that small businesses with limited budgets or payment preferences can pay with any popular credit card. I know this is not easy for many folks, but it is a cost of doing business and you are either committed to making it easier for folks to buy from you or you are making it harder.
Some ezine publishers think they can demand that all advertisers MUST pre-pay via a credit card before they will accept you. If that is your policy, I guarantee that you will never realize the full profit potential your list is capable of when you start courting fortune 1,000+ companies who wish to issue purchase orders for advertising with you.
The strategy to get paid faster with corporate purchase order issuers, is to make sure you get a invoice to them as soon as possible, so that they can begin the 30-60 day net terms they want. A follow-up call after you run their ad to find out when the check will be cut is not out of order. Make the call, and then don't sweat it.
This Ezine-Tip was submitted By Christopher Knight -- Email List Marketing Expert, author and entrepreneur.
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Ezine-Tips for August 27, 1998
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