Guest blogpost ! We are delighted to share with you a post from our partner Esker. Let’s discover 3 top tips to end your customer journey on a high note with an effective collections management strategy.
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When you think of collections, you might picture a pushy credit agency trying in vain to contact those who don’t pay their bills. Handling B2B collections this way is a difficult task because it often antagonizes customers who may have legitimate reasons for not paying their bills immediately.
Stop and consider your own business procedures are perhaps the reason why you don’t receive payments on time. Since customer communication is more important than ever now, you need to make your collections efforts part of a customer journey to maintain cash flow.
If you don’t know how to do this, it’s time to learn : let’s look at what you can gain with new perspectives on persuading your customers to pay earlier.
Tip 1 : Providing the Ability to Pay Online
81% of all customers attempt to take care of matters themselves, such as going online, instead of reaching out to a live representative. However, only 33% of businesses allow customers to pay online. Why there’s such a wide gap is a mystery !
Tip 2 : Using Automation for Connecting With Customers
you apply personalized messages to payment reminders, such as indicating advantages to the customer if they pay early, customers can be quite receptive. By sending automated message to customers you can stay on top of more post-sale collection interactions without losing the personal touch.
Tip 3 : Freedom to Customize Invoices
To make the collections process work on a new level, it’s going to require more than just providing the basics. You need to add customization options to your self-service process, including allowing the customer to customize their invoices. Doing so gives power back to the buyer to choose a format they prefer to help them better understand what they buy and what they pay.
To discover each tip in details : Follow the link to Esker’s blog !
