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Honeybook Facilitates Receiving Payments with Payment Reminder Strategies

By: Get News

Issuing payment reminders can be a tricky situation, chasing after clients is tough, but it can be a very common part of running a business. HoneyBook makes the process easier with payment reminder strategies. 

1. Include all the payment details

To prevent the need for constant follow-ups, establish clear payment expectations from the outset. When presenting the first invoice, ensure that the client is fully aware of the payment plan. Many times, missed payment deadlines are simply due to forgetfulness.

Include important information such as the invoice number, due date, remaining balance, future due dates, and late payment fees in the invoice. Confirm receipt of the invoice as soon as it's sent and address any questions before proceeding with the project and incurring additional payments.

2. Schedule payment reminder emails

Sending a series of payment reminder emails is an effective way to prompt clients to pay invoices. However, manually sending numerous reminder messages to a large number of clients can be time-consuming.

By utilizing payment reminder software such as HoneyBook, the process can be streamlined by automating email templates to be sent on a specified schedule. For instance - send a polite payment reminder a week before the invoice due date, on the due date, and two days after if the payment is still outstanding.

Initially, sending multiple reminders may seem excessive, but clients will often appreciate the reminders, especially if there is a link included to easily make a payment using online payment software.

When composing a payment reminder, consider the following:

-  Use a clear and descriptive subject line
-  Reattach the original invoice
-  Maintain a friendly tone, even if the payment is late
-  Clearly state the due date and reiterate the payment terms agreed upon
-  List available payment methods and how they can pay
-  Provide specific details of the work for which the invoice was created for
-  If the payment is late, include a late payment policy, but avoid a confrontational tone.

3. Offer multiple payment options

When it's time for a client to pay, simplify the process by making it as straightforward as possible. Assume the best of clients and understand that a delayed payment might be due to confusion about the payment process.

Provide a smooth payment experience by offering multiple online payment options easily accessible from the digital invoice. Utilize a payment processor that features invoice templates and accepts both credit/debit card payments and ACH transfers.

By making payment options less cumbersome, such as avoiding the need to write a check or pay in cash, the likelihood of encountering overdue payments will decrease.

4. Try a phone call

If email reminders aren't getting the job done, consider reaching out by phone. A short, two-minute call can often resolve payment issues quickly.

When making the call:

Begin by identifying who is speaking (if necessary).
State the purpose of the call - to discuss a late payment.
Communicate in a clear and professional manner.
Assume the best of a client.
Maintain a polite tone (even if the client is uncooperative).
Review and confirm the details agreed upon during the call before ending it.
Avoid asking for the reason behind the late payment, but be willing to offer any necessary information to facilitate payment.

Media Contact
Company Name: HoneyBook
Contact Person: HoneyBook Team
Email: Send Email
Address:539 Bryant St
City: San Francisco
State: CA 94107
Country: United States
Website: https://www.honeybook.com/



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