Following up on customers that don’t pay their bills is a nuisance, but unfortunately, it is part of running a business.
There are ways you can protect your business and take action should a customer fail to pay you. Consider the following:
Clear terms and conditions
Outlining payment protocol on terms and conditions, and going over these conditions when signing up a new customer sets clear expectations about how you expect them to pay for your services. The terms and conditions should clearly state when a payment is due, penalties for late payments, and the various payments which will be accepted.
Make payments easy
One of the major reasons people put off making payments is because the process of doing so is tiresome. Make your procedure as easy as possible; offer a variety of ways to pay to ensure you are maximising your chances of receiving payments on time and even early. You may wish to offer your customers the following payment options:
- Online payments such as PayPal
- Direct debit
- Gift cards
- After purchase payment instalments
High interest on unpaid services
If you are still wondering how to make your slow customers pay, call Glance Consultants @03 9885 9793 for guidance!