Here in Nuapay we see ourselves as being evangelists on the use of Direct Debits for the collection of regular payments.
We know how Direct Debits work – here is some of that Knowledge.
5 Ways to Improve Direct Debit Take Up.
Direct Debits certainly reduce unpaid and late payments. They easily allow for variable amounts, and often solve hassle on the debtors side too.
But how does a company get more of their customers to pay by Direct Debit. Here we reveal the 5 key points to improve Direct Debit take up.
1. Make it Easy to Start – I think everyone is the same when it comes to paper administration – we hate it. Customers completing direct debit mandates are no different. Some will sign the paper mandate and mislay, some wont sign, some wont post it back.
Enough Already !!! Make the sign up Easy. The paper sign up model is inescapably awkward.
Nuapay’s eMandate is a breakthrough for merchants. The complete “Sign Up” process involves the debtor filling in an easy web form…..and that’s it. Done!
2. Make it Easy to Continue – We all love convenience and clients paying by Direct Debit are no different. Many far prefer to pay repetitive bills by direct debit. To improve the take up on your direct debit request, remind the Clients of that convenience – “we invoice you and we take payment – you dont have to do anything”.
3. Make it Pretty – Business emails with good imagery get higher response rates than emails without images. Emails requesting Direct Debit sign up are no different. Take Royalty Free images and place within your email. Take up will be higher.
4. Make it an Option – Propose two convenient options to the client and empower them. EG Direct Debit to be collected at start of month or at end of month.
It’s a truism in sales – Sign Up is always higher when offering options on “when” rather than asking for a straight “Yes” or “No”.
5. Make a Plan – Lets be realistic, all your clients wont move to Direct Debit on the first email. However a second and third reminder email will get further results. Phone calls to those remaining laggards will bring a further set of co-operating clients. However without a multi contact plan results will not be maximised
Direct Debits are a massive boost to the health of any company collecting regular payments.
The good News is that Nuapay brings that advantage easily into your business, with powerful Direct Debit solutions for small, medium and large organisations.
Contact us and lets talk about Direct Debits.
Tel. +353 1 901 2398 ¦- email@example.com