4 Tips for Collecting Payments While Maintaining a Positive Customer Experience

Whether you are a freelancer or business owner, run an agency, or work with a customer success team, collecting payments is an inevitable part of businesses. After all, receiving timely payments from customers is what keeps the lights on (literally). 

Additionally, no company can practically sustain itself without collecting revenues. When businesses invest hours of hard work in a project, and their customer doesn’t pay for it, it wastes effort, time, and resources. 

Read on to learn how you can ensure a successful collection while maintaining a healthy customer experience.

Ask for Upfront Payment

Unpaid invoices often put companies into tricky situations. While you should not overlook the importance of building professional relationships with your clients, it is also vital to ensure getting paid all year long to keep your business going. 

Asking for payments upfront may seem strange, but the concept is not otherworldly. In fact, this type of collection strategy is followed by several top-performing businesses and industries. While some customers may not be willing to pay the full amount upfront, they wouldn’t mind paying a portion of your fee, ensuring you a better position.

Clearly Communicate Your Expectations

Ironing out all your concerns associated with payments in advance with a client is another great approach to ensure timely payments and good customer relationships. These include how you would like to get paid, when will you send the invoice, and how soon you expect to receive payment. 

Focus on providing “a mutual sense of convenience” can help greatly develop long-term business relationships while manually eliminating the need to invoice at a later date manually. However, in case of late payments, hiring a reputed debt collection agency is recommended to help you ensure successful collections.

Send Polite Follow-up Emails

There can be several reasons a client cannot pay off their invoice on time. Thus, if you wish to maintain a healthy business relationship with your customers, then it is wise to give them the benefit of doubt (initially). However, if the payment gets delayed for longer than usual, then sending gentle reminders with the assistance of a reputed debt collection agency might be a good start. 

Offer a Personalised Invoice Schedule

For some customers, paying in instalments works better than paying a lump sum upfront. So, if you consistently receive late payments from the same account, but getting paid, then consider asking if your customer would like to reschedule the invoice payment. 

However, in case you notice an unusual delay in payments, then it is best to hire a professional debt collating agency to help you ensure timely payments without affecting your business relationships with your customers. 

About Us

Taurus Collections (UK) Ltd. can be your one-stop destination if you want to successfully boost your odds of collecting debts. We help our clients with certain debt collection services that include:

For more information, contact us at 0800 069 8777 or 01332 565 350 (Derby). Send your concerns at enquiries@tauruscollections.com. Use our Late Payment Calculator to calculate your outstanding credit amount. Connect on Facebook, Instagram, and Twitter.