Most businesses focus mainly on marketing the products and services they sell to increase their turnover and profit. It’s something that all enterprises should be doing, of course, but the sad truth is a few entrepreneurs forget about focusing on customer services.
Surprisingly, one of the areas where those businesses fail is providing a range of payment methods for their clients. Some sole proprietors and even fully-fledged companies will only accept cash payments, for example.
Others may even penalize customers by charging them an extra 5% because they want to pay with a card or bank transfer. As you can imagine, such businesses typically don’t stick around for long.
If you want to make customer service a priority in your business, here’s how to make it easier for your customers to pay you (and keep giving you repeat custom):
Change Your Attitude Towards Business
Firstly, if you’re someone who complains about paying costs for processing payments, you need to change your attitude towards business. You should know by now that businesses have to pay for all kinds of operating expenses.
You can’t just accept cash only, for example, because you want to avoid card processing fees. Most consumers prefer to use card or contactless payments, especially in light of the COVID-19 pandemic.
Also, you shouldn’t penalize your customers by declaring their bill will be an extra 2% or 5% because of card processing fees. You need to find a way of absorbing that cost, even if it means raising your prices slightly or negotiating lower wholesale rates for the stock you sell.
Find Out How Your Customers Prefer to Pay
If you’ve got a retail store in a fixed location or run a mobile business, you need to determine how your customers prefer to pay. As mentioned earlier, card and contactless payments are now more preferable to cash.
With that in mind, you should invest in the right credit card processing equipment for your needs. For example, you might wish to use a card terminal in a retail store or a mobile-linked card reader if you run a mobile business.
If you operate an online business, companies like Stripe let you easily accept debit and credit card payments on your website. You could also use a provider like PayPal and offer that as an alternative payment option to make the checkout process more convenient.
Offer Financing Options
Do you sell a lot of high-ticket items, either in person or online? If so, it makes sense to offer financing facilities so customers can spread the cost of their purchases. You could even provide interest-free payment options to make purchases more enticing to customers.
Partnering with financial institutions like Klarna could make a world of difference between customers buying your goods and services or forgetting the idea because they can’t afford to pay for it all in one go.
It’s not difficult to make it easier for your customers to pay for your goods and services. Sometimes, the hardest thing about achieving that goal can be changing your attitude towards business and expenses.