Revitalise Your Company with Payment Options for Customers
As your company grows and your client base increases you’ll have a more varied set of customers who need payment options that match their own cash flow and business operations. As you begin to study the paying habits of your clients, you can learn when they pay, the method of payment that they use, and perhaps find some innovative ways for them to submit remittance for goods and services rendered. Knowing what your clients prefer and then making modifications to accommodate those needs and desires can make your company even more successful than it already is. Let’s take a look at some of the payment options that you should consider as you review the payment habits of your valued clients.
- Receiving cash payments from clients who prefer to visit your business and your staff members during each billing cycle can foster excellent bonds for word-of-mouth advertising. These clients value the personal touch that your company can offer them and will gladly share the information about your customer service with their family, colleagues, and friends. Make sure that your staff is well-trained in providing receipts for cash payments so that you can successfully track the invoices that have been paid.
- Some of your clients may want to pay their invoices with cheques so that they have a paper trail and credible documentation for their accountants. This will also help you to keep records of payment history as you make reviews of your company’s financial dealings. When you accept cheques for payments make sure that they have contact information on them and that they come from a reputable financial institution. Should the clients not have enough funds in their account to cover the cheque that they have written to you, follow-up immediately to secure payment and advise the client of the issue that you are having with their cheque.
- Online payments will benefit your clients who are mobile and prefer to use their hand-held devices to make payments to your company. Make sure that you offer this type of payment so that your clients can pay on-the-go and be free from having to post payments to you or visit your company in person. Once you receive payment from all of your clients, you can begin to pay off a small business loan, expand the technology at your business, or purchase the new equipment that will keep your employees competitive in the marketplace.
With careful study of the finances of your company and the payment history of your clients, you can begin to develop new ways for them to remit payment for the goods and services that they have purchased from you. Keeping up with the latest technology is a must in today’s mobile society, so make sure that your website as well as your payment methods are compatible with iPads, Smart Phones, and the new formats for communication between clients and suppliers. Making the shopping and paying part of the consumer experience will make your company more attractive to mobile clients.