As a small business owner, it’s quite likely you play both the role of salesperson and debt chaser. On one hand you want to keep the relationship positive so you can continue selling to that customer, but on the other hand, you need your bills paid for your business to survive. Maintaining customer loyalty and satisfaction while keeping a credit control policy that’s abided by can (at times) put you in an awkward position.
Repeat customers the key to growth
Regardless of your industry, it’s a lot more expensive to acquire a customer than retain an existing one (six or seven times more expensive, according to Flowtown research). Of course, there are ways to improve customer retention – targeted marketing, reliable and excellent customer service, loyalty programmes – but it’s much harder if you’re experiencing an internal conflict between salesperson and receivables manager. It is important to find ways of conquering this issue in order to leverage growth out of your repeat customers.
The power of “Thank you”
Internationally recognized marketing consultant Graham McGregor recommends thank you cards as a simple marketing strategy to “positively influence” a customer. Whether it be after a demonstration, after a sale, for a referral, or recognizing good service, writing a thank you card can be worth the small investment of time and money that it takes. It’s not commonplace at the moment, so it can really set you apart from other people that your customers work with – saying thank you is an acknowledgement that can certainly improve the sales relationship and gain repeat business.
Saying “Thank you” to paid bills
As Matt (our Co-Founder and CEO) said in a previous post; “Don’t forget that a simple “Thank you for your payment” email has the potential to make a world of difference for your customers”. And it really can! Naturally, people appreciate being recognised for their efforts. Being a business owner yourself, you’ll know how much of a drag paying bills can be, but for debtors to know that their custom is valued by you and your business will make the transaction a positive one for them. You’ve then opened the door for you to put your sales hat back on and have an increased chance of an upsell.
Debtor Daddy says “Thank you”
First of all, thanks to all our subscribers – we wouldn’t be around without you! We hope you’re enjoying the benefits of our software.
We can also say thank you on your behalf when your customers pay. It’s very simple to add a thank you message to your collectors, which will automatically send once they’ve paid their bill. The 30 seconds it takes for you to write a thank you message for us to send is probably worth your time.
No one likes to pay bills, but when they do get paid it’s good to take the opportunity to make it a positive experience for all involved. Harness the power of “thank you” to improve the relationship with your customers. Get paid and grow!