What is Brandboom Payments?
So you’ve been approved for Brandboom Payments! What does that mean?
Brandboom Payments is a method of receiving payments on your orders. It also provides the following benefits:
Seller verification in Brandboom: Once you’re approved, you become a verified seller. And when you offer Brandboom Payments, buyers know your company has been thoroughly vetted. Buyers take a big leap of faith when ordering from brands for the first time. Your verification provides them the peace of mind to make that leap!
Take payments from vetted buyers: That peace of mind works both ways. All buyers using Brandboom Payments have gone through a thorough vetting process and credit-worthiness checks.
Offer buyers net 60 terms with Slope Net 60! Most notably, you’re now able to offer net 60 terms, giving buyers 60 days to pay their invoice!
Seller Benefits of Slope Net 60
At first glance, the benefits for the buyer are clear: an extra 60 days to pay. But what does this do for the seller? There are other factoring services out there that give buyers 60 days to pay, but a lot of them leave sellers on the hook and stressed out.
Thankfully, Slope Net 60 was built with sellers in mind. This means that when you fulfill an order with Slope Net 60, you’ll get paid when your order is delivered. Guaranteed.
I can hear you asking…
“What if the buyer doesn’t pay after the 60 days are up?”
Brandboom takes on all responsibility. You won’t have to chase buyers or pay surprise late fees. It’s how it should be.
The benefits for sellers don’t stop there.
Receive higher order values: Buyers have an improved cash flow, which allows them to buy more. On average, order values more than double.
Build relationships with buyers: Gone are the days of losing buyers that are looking for net 60 terms. And with Brandboom Payments, buyers and sellers both have peace of mind that the other party has been fully vetted. It’s the perfect recipe for entering a new relationship. Happy courting.
Strategies for Success
Now that we understand the benefits, let’s strategize how to use Brandboom Payments to your advantage.
First, ensure the option to request net 60 terms is turned on in your presentation settings. (Note: Once you receive a buyer’s request, it’s still your decision whether to accept or reject the terms.)
Next, it’s time to let your buyers know! You want buyers to browse your line sheet knowing they have that increased cash flow. Sending out your new line sheet? Include your new net 60 terms in your email. Add a blurb on the presentation. Meeting new prospective buyers at trade shows? Let them know you offer net 60 terms.
Want to customize your terms for net 60 orders? No problem. Create a dedicated line sheet specifically for these orders. From there, you’re able to:
- Add or adjust order minimums
- Customize pricing
- Customize which products are included. Since you get paid when your order is delivered, immediates and ‘At Once’ presentations are ideal to reap the full benefits.
Now you’re all set! Once you receive a buyer request, this signifies that the buyer has been vetted and approved for the loan. Once you’ve reviewed and accepted the order, you’ll be paid upon shipment. Finally, the days of payment headaches are over.
For a detailed look at using Slope Net 60, check out our support article.