5 Easy Step to Increase ACH Payment Plan Participation

by Wayne Akey

Published on this site: June 22nd, 2005 - See more articles from this month...

We all know that the more customers on an automated payment plan program the better it is for business. The challenge can be getting your customer to get on board.

Though some businesses are in a position to mandate automated payments (health clubs) most businesses have to rely on customers agreeing to the change. Here are 5 easy steps to increase your participation rate.

1. Every time you speak with a customer whether they are paying a bill, signing up for service or calling for support let them know about the convenience of an automated payment plan or check by phone.
   
   
2. Include information about your automated payment plan or check by phone option on all invoices and customer correspondence. Include a call to action to sign up for the automated plan and make it easy for them to do so. This might include a sign up form on your web site or being able to fax a form.
   
   
3. Make your web site a billboard for your automated billing plan and Check by Phone capabilities. Include sign up forms and directions.
   
   
   
4. Start an incentive campaign for automated payment sign up. Offer 5-10% off their next 3 months billing or some other motivational offer. Consider partnering with a local business and offer cross promotional coupons for 10% off products in return for program sign up.
   
   
5. Telemarket your customers and let them know about the program and advantages of signing up. You can use internal staff or hire a telemarketing firm to call for you. For a couple of hundred dollars you may be able to up your participation rate dramatically.

You can also consider implementing an Auto Pay only option for new customers. Consider implementing these easy steps and you'll make your business life easier.



Wayne Akey has helped numerous businesses reduce costs and increase efficiency. Get your Free Ebooks on "The Secrets of ACH Processing" and "How to Save over 80% on Payment Processing" at http://www.ach-payments.com