Sell Different!: All New Sales Differentiation Strategies to Outsmart, Outmaneuver, and Outsell the Competition Lee Salz. 2021 ISBN 978-1400222506.  I like Lee Salz work, so when he offered a review copy, I readily agreed.  I finished it today and it is everything I expected and more. This is easily one of the best sales books this year.  His ideas, examples and suggestions are bang on in the competitive and ever changing of sales field.  Plus it is all actionable and will result in much improved sales efforts for your sales teams.  Do not wait to get his book as you are leaking sales every day until you start to implement his ideas and techniques.  Another  winner from Lee

5 Tips That Can Help You Get Paid Without Losing Customers  by Eleanor Wyatt

 

A recent survey indicated that 17% of small businesses have unpaid invoices. This can not only cause cash flow problems but complicate business planning because businesses cannot count on being paid when bills are due. Collecting unpaid invoices is important for your bottom line; however, you need to take care to pursue collection in a way that doesn’t degrade your relationship with your customers. Reg Nordman offers tips that can help.

 

1. Send a Friendly and Professional Payment Reminder

Sometimes customers simply forget to pay bills or need a little nudge to get them to take action. Sending a friendly, professional email reminder or text message after the due date may prompt these customers to remit their payments without further action from you. Inform the customer that their payment is past due and remind them what the due date is, how much they owe and how they can pay. Include a copy of the original invoice in case the customer lost, didn’t receive or misplaced it. 

 

2. Call the Customer

If your email or text reminder doesn’t elicit a response, try calling the customer. Confirm that you are speaking to the right person and have the correct contact information. Be friendly and empathetic. Ask them for a timeframe when you can expect to receive payment. If appropriate, offer to work out an alternate payment schedule if the customer is having difficulty paying the full amount. Being willing to work with the customer, rather than demanding immediate payment, is a good way to strengthen your relationship and increase the chances of getting future business.

 

3. Automate Your Invoicing Process

Chasing after late payments can cost you resources you would rather be spending on running your business. You can automate some of these features by using payment processing software. Zenbusiness recommends investing in software that can automatically send customers late payment reminders. It also makes it easier to offer a variety of payment methods which increases your chance of getting paid. 

 

4. Avoid Late Payments

Another way to save yourself the hassle of chasing late payments is to avoid them in the first place. There are a variety of tactics you can employ. If you are experiencing a large volume of late payments, you may want to be more selective in who you offer credit to. Make sure your payment terms are clear. Offer as many ways to pay as possible. Provide incentives for early payments, such as discounts. Consider collecting a portion of your payment upfront for large invoices. 

 

5. Prioritize Kindness

Understandably, you may become frustrated with customers who don’t pay their bills, even after several reminders; however, if you want to build customer loyalty, it is important to remain kind. Once you become confrontational, it is difficult to repair the relationship. Practice active listening when communicating with customers. Demonstrate empathy when customers explain why they haven’t paid you yet. Instead of intimidating, threatening or punishing, make the process cooperative. You want the customer to believe you are there to help them, not hassle them for money.

 

Collecting money from customers who don’t pay on time without risking losing future business is a tricky proposition. However, if you remain kind, persistent and empathetic you can turn a frustrating situation into an opportunity to build stronger relationships and retain customers.