Not all of your financing customers will be able to afford to pay for their purchases from your business upfront. This is why you must have a plan in place for financing customers. A popular financing option with customers is the 90-day payment plan. You can greatly increase your sales numbers by offering customers who cannot pay the full price a chance to make their purchases through a payment plan. This will do much to grow your customer base. Financing customers will expand your customer base and improve customer service. We are all feeling the economic crunch and this is customer service to the next level. Your customers will thank you for dividing the cost of the product or service into 4 payments.

How a 90-Day Payment Plan Works for financing customers

With a 90-day payment plan for financing customers, you must make sure to let them know what the terms are upfront before they make a purchase. Explaining purchase plan terms upfront will eliminate any confusion about when the payments are due. For large purchases, you may want to require a certain percentage of the sale as a down payment.

What to Do When Payments Are Late in financing customers

When financing customers through a 90-day payment plan, there will be times when customers are late making their payments. There are a number of ways you, as a business owner, can combat this problem. Make sure to send out billing invoices promptly. The sooner the invoice is received by the customer, the sooner you will receive your money. In addition, a great idea to encourage early payments is to offer financing customers with a discount for making their payments early.

Financing customers through credit cards can do harm

Often, customers who make purchases through credit have just forgotten about the bill and need to be reminded their payment is past due. This can be accomplished through a late notice. Give the customer a few days to respond to your late notice, then follow-up with a reminder call. You want to resolve late payments in a positive way as often as possible, so these customers will keep coming back to purchase your goods and services in the future.

Customer service is a lost concept in today’s economic times. We are so caught up in keeping sales at the level of the past and dodge the bad economic times. You have to service the customers that are coming into your store as they are the loyal customers. They must be assisted too so they will tell their friends what a great place and service you provide. If you have to give them something extra it is worth every dollar. Just because they are purchasing your product or service does not mean they are financially stable. This is also a reason to offer a 90 day payment plan to spread good will with them also. Ease the pain and and provide a customer service level that will beat your competitors. Financing customers is a great way to take care of your loyal customer.

Here are some additional links from other sites on this subject. Thank you for visiting Customer Payment Solutions:


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