Promoting Direct Debit
With everybody looking to make their payment systems as efficient as possible and looking towards a future without cheques, we are often asked how to get more people signed up to pay by Direct Debit. So here are a few simple ideas to help promote Direct Debit to your customers.
- Explain the benefits – Direct Debits are incredibly safe (see the Direct Debit Guarantee), flexible and portable. They save time and offer peace of mind – eliminating the possibility of forgetting to pay.
- Offer flexibility – your customers will be much more likely to pay you by Direct Debit if you give them enough options on dates or times that suit them. Everybody has a different preference and most people prefer to have their Direct Debits go out just after they themselves have been paid
- Training – ensure you and your team are fully trained and up to date. Training will help you to reduce the number of unpaid items, improve the customer experience and reduce indemnity claims. If you are getting more people signed up then why not keep more of them also.
- Incentives – In most cases collecting by Direct Debit will be significantly cheaper for you to administer and will offer you much improved cash-flow. Why not pass some of this saving on to your customers. This could either be a discounted price to pay by Direct Debit, or it could be a reduction for an initial period, (whether that be a month or a year) – you will keep the full value of that customer after the introductory offer. You could offer a free gift or entry into a prize draw. There are lots of possible incentives and different approaches will work differently in different industries, i.e. a free gift works best for charities; local government offer use prize draws and commercial organisations tend to offer discounts. Get more information on incentivising your customers by contacting us directly.
- Make it easy for them – Are you taking full advantage of all the paperless channels to get more direct debit customers. Paperless can vastly improve the number of sign ups especially with a multi channel approach and it needn’t be difficult to set up. We can help you to implement new paperless Direct Debit Channels and stay ahead of the competition.
If you are looking to improve your Direct Debit take-up there is no better way than to ensure you run your scheme in the best possible way. Contact us to ask about how our Direct Debit Training & Consultancy can have a significant positive impact on your organisation.