24 September 2015
Get better cashflow with payment reminder SMS solutions
When you run a busy business or organisation, even a temporary disruption to your regular cashflow can cause serious problems. That’s why it’s imperative for customers and clients to pay on time, but in our hectic lives it’s easy to forget to pay an outstanding bill or go over a pre-set spending limit. That’s where payment reminder SMS solutions come in, offering a simple yet powerful solution to this common problem of late, unpaid bills or fast approaching spending limits which, if breached, can cost you and your customers a lot of time and money.
SMS payment reminders are a powerful tool for improving your cashflow with minimal fuss.
Let customers know when their bill is overdue
One of the simplest features of a payment reminder SMS capability is the ability to send a simple text message to a customer informing them their invoice is unpaid and overdue. This feature works for everything from unpaid phone, utility and gym bills (to name a few), through to reminding a customer that the latest instalment on a lay-by purchase has been missed.
Payment reminder SMS alerts also offer an important element of personalisation, allowing you to incorporate your own text into the automated reminder message. This enables you to include details such as a contact number or email address so they can directly discuss any payment issues with a customer service representative. You could even add a shortened URL link to the payment gateway of your website, allowing the customer to immediately pay their outstanding bill, thus resolving the problem on the spot.
Give customers the chance to get ahead of their bills
Even better than reminding someone when their bill is already overdue, payment reminder SMS functionality allows you to message customers ahead of a due date, offering them the attractive incentive of an early payment discount. This method is particularly effective, with international research conducted by IPA and the United States Agency for International Development finding that SMS reminders improved the probability of on-time bill payments by seven to nine percent, and the ‘average days late’ dropped by two days per month. These payment reminders can be sent to a large number of customers at once via bulk SMS technology, with personalisation incorporated to enhance your customer relationships, while maintaining the integrity of your cashflow in a non-threatening manner.
Save your customers money and keep them happy
No one likes receiving a huge bill, especially when it’s completely unexpected – an all-too-common situation known as ‘bill shock’.
SMS payment reminders can also save your customers from bill shock, by sending them SMS alerts once they’ve used a pre-set percentage of their monthly service or reached a certain level of spending. At the same time, this saves you the time and hassle of dealing with customers who cannot afford to pay unexpectedly large bills. This arrangement can work for a whole range of businesses, from mobile and broadband services, to pre-paid gym membership and many more.
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