"Split purchases into installments without any surprises."
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Updated 3 Days Ago
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3 Advocates
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2 Verified Clients
Nutshell
Affirm helps users spread out payments for purchases over time. It integrates directly at checkout, offering flexible payment plans with clear terms. This eliminates unexpected fees and interest, allowing consumers to manage their cash flow better and make larger purchases more accessible.
In Detail
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Affirm's Website Claims...
A summary of the claims made on Affirm's website as noticed by our bot, Vinny.
No late fees guarantee
Affirm claims that their payment solutions come with no hidden fees or surprises, enhancing customer trust.
Transparent interest rates
Affirm claims that they provide upfront and clear interest rates ranging from 0% to 36% APR.
Flexible payment options
Affirm claims that they offer flexible payment plans like 'Pay in 4' for consumer convenience.
Case Studies
Extended payment plans boost Tempo sales.
39%
Increase in average daily checkouts
64%
Growth among customers under 25
Situation
High-tech fitness market competition
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Intense competition in high-tech fitness market
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Need to expand customer base
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Aimed to make high-end product affordable
Tempo, a San Francisco-based company specializing in strength and cardio workouts with virtual training, faced intense competition in the high-tech home fitness market. The company aimed to expand its customer base and make its high-end Studio product more accessible and affordable. To achieve these goals, Tempo partnered with Affirm to offer extended repayment terms.
Task
Launch extended repayment terms
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Introduce 48-month payment plan
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Increase conversion rates and accessibility
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Improve customer experience with affordable payments
Tempo's main task was to introduce a 48-month, zero-interest payment plan for its high-end Studio product alongside existing 12- and 24-month options. The intention was to increase conversion rates, provide a good customer experience, and make the product financially accessible to a broader audience by offering lower monthly payments.
Action
Implemented Affirm payment plan
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Partnered with Affirm for financing
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Rolled out 48-month, zero-interest payment plan
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Focused on affordability and customer base expansion
Tempo partnered with Affirm to offer a new 48-month, zero-interest repayment plan for the Studio product. This new financial option was aimed at making the product more affordable, thereby boosting sales and expanding Tempo’s customer base. This initiative was driven by a strategic goal to see lower payments as a viable budget option for a broader demographic.
Result
Rapid growth in sales and customers
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39% increase in average daily checkouts
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11% lift in conversion rates
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Significant growth in younger customer base
Within six weeks of launching the 48-month payment option, Tempo saw a 39% increase in average daily checkouts with Affirm and an 11% lift in conversion rates. Additionally, the financing option led to a significant 16% growth in customers under 40 and a 64% increase among those under 25, positioning Tempo well among younger, trend-setting demographics.
Keywords
EXTENDED REPAYMENT TERMS
ZERO-INTEREST PAYMENT PLAN
HIGH-TECH HOME FITNESS
EXPAND CUSTOMER BASE
INCREASE CONVERSION RATES
MAKE HIGH-END PRODUCTS AFFORDABLE
YOUNG CUSTOMER DEMOGRAPHICS
IMPROVE CUSTOMER EXPERIENCE
MARTECH CASE STUDY
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