The work is done. The installed outdoor kitchen and lighting look incredible. Your customer’s backyard is about to be the envy of every other house on the block. You’re positive they’re about to leave you a glowing review. All that’s left is the payment. And you sent that invoice 3 weeks ago.
Most customers don’t want to rip you off. They aren’t trying to avoid paying you, it’s just something that’s slipped their mind. Landscaping service isn’t a regular bill that they have set on autopay. So it takes them a while to get it all taken care of.
However, the timing of that payment is important to your company. You have employees you need to pay, bills that are due, and equipment that needs repairing. And you don’t have the luxury to forget about a major expense for a few weeks.
Your customers want to pay you for your work. Make it as simple as possible for them to do so.
Usually, slow invoice payment happens because it’s something that isn’t routine. People don’t keep that kind of cash at home. Writing and mailing a check means finding the checkbook, an envelope, and a stamp. ACH transfers require a trip to the bank or the bank’s antiquated website – and only works in the US.
You could offer a credit card option, but that can leave you covering the processing fees – unless you build that into your overhead and recover the costs.
In this week’s webinar, Jason Drews, LMN’s SVP of Customer Success, runs through different payment options for your customers. You’ll also learn more about alternative payment and how to incentivize your customers to pay in a way that’s best for you.
Check it out, and start revamping your invoicing and improve your cashflow!
Watch the Webinar!
