Looking for a membership approach that can help you help your customers? A recurring payment solution means greater flexibility, consistent cashflow and a full credit control system, saving time and money so you can focus on what’s really important – your organisation and your customers.
When it comes to payment solutions, there are a number of elements that truly make a difference. A ‘full service’ model comprises several activities that are performed on behalf of clients to manage their customers.
At Debitsuccess, we send approximately 60,000 SMS messages each month as part of our recovery strategy. This means we contact our clients’ members to facilitate overdue payments. It’s an activity that is growing in results given how many people use mobile devices.
Our data shows approximately 10% of the people we contact via text use the PayNow link within 12 hours to make a payment. A further 10% contact our team to discuss their payment status or make a payment within 12 hours of receiving the text.
There are some customers with overdue accounts who don’t have valid phone numbers or don’t respond to SMS messages. Contacting this group sees us send approximately 180,000 emails per month with a link to make payment. Around 30% of these recipients make a payment via the PayNow link or call our Contact Centre.
For those who don’t respond or who have limited contact details, our team makes approximately 100,000 outbound phone calls a month leaving messages or talking directly with customers so we can retain them on behalf of our clients. The aim of this is to work with customers to make arrangements for payment, catch up payments, resolve disputes, update payment details or take payment over the phone.
The final result? This comprehensive recovery strategy leads to less than 0.5% of customers being referred to a debt agency each month. And, because we pride ourselves on consistently striving for better results, we’ve identified how this can be further improved. We’re working with our clients to put a stronger emphasis on data capture at customer sign up. Capturing valid email addresses is vitally important given more than 15% of newly signed customers not providing an email address or providing an invalid address. It facilities a payment solutions provider’s ability to retain customers who may have had a payment issue.
When it comes to the full picture of full service, there are many pieces to the puzzle with accurate information a critical aspect.