Getting in your customer’s head is priority one for understanding how to best relate to them, both in getting them to buy into your product as well as getting them to pay for it! The customer’s openness for improvement at the beginning of the year is a good time to start setting some financial initiatives in motion that will improve both parties’ cash flow and relationship. Here’s some tips:
· Start Sooner: Get in touch with your customers before their bills go overdue, with a friendly reminder of their obligation. This helps both of you stay on top of your finances.
· Change Your Mindset: Don’t think of your slow-pay clients as debtors. They are your customers first! Give yourself some space and perspective from the anger your cash flow issues may be causing.
· Give Options: Approaching your customers with payment options may relieve a great amount of stress in some cases. Remember, most of your customers do want to pay, but lack the mode to do so. Providing a roadmap for honoring their financial commitment to you can be the catalyst to jumpstarting payment today.
· Separate Yourself: Is it weird servicing the customer with one breath, and then reminding them of their debt in the next? It’s weird for them, too. That’s why third party services like TekCollect are a great resource. By removing yourself from the equation and letting your customer work things out with TekCollect, it actually removes the awkwardness altogether. They can retain their feelings of privacy and self-respect by working with our solutions-focused team, while keeping your connection free and clear.
You are a member of a business that provides goods and services, but you are also a consumer in your everyday life. Think of how you would want to be approached for your own financial obligations. Think of how much value you’d perceive if you were given a chance to better your personal financial health by the businesses you deal with. That is how TekCollect can become a trusted partner in your accounts receivable management, by providing solutions and preserving customer goodwill that will extend far beyond the burn-off of New Year’s resolutions.
TekCollect provides the most advanced accounts receivable, collections, and client retention services available. To learn more about us, visit our website and follow us on Facebook and Twitter.