5 Free Late Payment Reminder Templates

by Maiwenn Marchand | May 27, 2020 | Process improvement

Late payments can be chaotic for small and large companies. In order to avoid a maximum of cash flow concerns and to organise a functional debt collection process, we propose 5 late payment reminder templates by SMS. For some time now, the use of mobile phones has been increasing. But in recent months, the phone has become our number one ally. Indeed, we spend more time sending messages, getting news from our friends or colleagues, staying connected via Whatssap, Facebook Messenger, etc. We spend about twice as much time on video calls as before. We check information and watch news on our mobile phone.

This is why SMS is an incredibly effective tool for credit control. At RingRing we have found that approximately 80% of unpaid invoices can be successfully collected just by sending a payment reminder by SMS. As powerful as it is, be careful to use this tool properly. There are a few basic but important rules to follow when texting reminders. In order to be really efficient, the ideal is to prepare most of your templates in advance. Plan the sendings and then change some variables in the content if necessary. Before giving you some concrete examples, read these do’s and don’ts to prepare payment reminder templates.

Do’s & Dont’s for late payment reminders

Do’s:

1. To improve customer experience, messages should include obvious information such as the identity, name and phone number of the sender. The amount and due date of the outstanding invoice. You can also ad a link to make a secure online payment. Sometimes a short link to the sender’s website is also efficient.
   
2. Set the frequency of sending messages. Don’t bombard your customers but make sure they have enough time to act. Test different time intervals to see what leads to the most clicks and payments. Try to create a sense of urgency in your late payment reminder sample.
   
3. Use powerful call to action triggers. The perfect call to action resonates with your audience and create a sense of urgency at the same time. Also, your call to action has to be clear and visible.

Dont’s:

1. Be careful with the most common errors for late payments messages. Avoid an unfriendly tone.
2. Pay attention to the appearance of automation. Stay human as if you were personally sending the reminder. Don’t be aggressive or critical to late payments. Also, be sure chasing the good person for the late payment.
3. If you are faced with late payments, respect the basic rules when sending SMS. No emojis or abbreviations, pay attention with the tone used, the permission to send an SMS,…

Download Now : Free Payment Reminder Templates

5 Effective payment reminder templates :

1. Invoice payment due

2. Upcoming invoice reminder

3. Late payment reminder template

4. Unpaid invoice reminder

5. Payment Plan Reminder

Thanks to our expertise, we offer 5 typical examples of payment reminders by SMS. Use these templates to remind your customers or stakeholders that they have unpaid invoices.

Late payments happen to all companies and customers. The most important thing is how and to whom you communicate. Do not hesitate, if possible, to propose alternatives to your stakeholders. Discounts, payment plans or other solutions that will improve your customer relations and keep your cash flow up to date. Diversifying the types of messages and reminders you send permits a better customer experience. It also secures loyalty to your company.

If you’re ready to get started and learn more about how SMS can help you manage late payments, try our platform for free today.

5 ways to boost your sales during summer

by Gaël Matendo | Nov 27, 2019 | Process improvement

During summer, a lot of companies know a decrease of activities. Unless you sell holiday-related products or services, people spend more time outside than buying in your shop. Luckily, there are ways to boost your sales during summer time! We’ve gathered our 5 best tips and tricks to keep your activity going during the holidays!

1-Use the right communication channel

If your customers are outside and do not open their emails, how can you reach out to them? It is easy, reach out to them on the one device that they always carry around: their smartphone. No matter if they go to the beach or if they hike through Europe, they will have their smartphone with them.

Sending an SMS is the perfect way to go. Your customers will receive the information but can read it when they have time for it. Make sure that they can benefit from your offer directly from the SMS by inserting a link in the message.

2-Send a summer campaign by SMS

This is a classic way of boosting your sales during times of low activity such as the summer. During pre-holidays periods, people are eager to go on holidays. They will pay more attention to offers related to the theme. Whether it is in the text or the products on which your customers can get a good deal, make sure your offers are sunny and play on the holiday feeling!

Do not forget to segment your offers. Do you have information on your customers’ habits or interests? Design an offer that they cannot refuse! If you have their purchase history of last year, it is even better. You can use it to send complementary or similar offers.

3-Take advantage of special occasions

This is true all year around, but use special occasion such as a national holiday, the first day of summer or the beginning of summer sales to send special offers. By relating your offer to an event, you can create a sense of urgency. For example, your offer can be available only up to the date of the event or be valid only on the date itself.

Whenever it is possible, send a reminder SMS for your campaign. For example, if your offer consists of a 2-week pre-summer sale, your first sales SMS could be something like “Summer deal: 20% off all our website starting today until June the 1^st!”. You can then send a second SMS 3 days before the end of your offer with a text such as “Summer deal: don’t forget to benefit from our special 20% discount, only 3 days left!”

4-Organize summer events

In summer, agendas are less full than during the year. Use this opportunity to organize a nice event to which people will actually show up. For example, invite your customers to a summer barbecue. They will certainly appreciate the invitation.

If you have a lot of customers, you might want to limit participation to a certain amount of people. This can easily be done using SMS. Let’s say you want to host a party for 100 customers. Select your top 100 customers and send them an invitation by SMS. Ask them to reply within 48 hours to ensure their spot. You can then send another batch up until you have your 100 attendees.

5-Make mobile subscribers feel special

For your sales SMS campaigns to be efficient, people need to continue agree to receive your SMS. It seems obvious, but it is important to maintain your database. To increase mobile subscriptions, reward your customers to do so. Maybe let them know that some offers are available only by SMS, or give a reward for long term subscriptions or VIP customers.

You can for example run summer flash sales through SMS. Select one product and give an extraordinary discount for only 48 hours. Putting a time limit on the sale creates a sense of urgency for the customer. Sending the flash sale by SMS allows him to be informed about the sale on time.

Are you ready to try SMS this summer? Let us help you with it and contact us at sales@ringring.be!

How to get your outstanding invoices paid without additional costs?

by Gaël Matendo | Nov 27, 2019 | Process improvement

Sure, you hope all your outstanding invoices are paid on time. But you constantly get reality checks, proving the opposite. As you know, cash flow is king. So, you probably have methods to remind late payers by using old traditional tools and processes, which are both time and money consuming. But there’s a way out.Ready to discover how?

How most companies are chasing unpaid invoices

All your competitors are facing the same challenges as you. But they are using old legacy ways of informing their clients about an outstanding invoice. They hire accounting administrators to send e-mails, letters, or to call their customers. That’s costly. Not to talk of the fact that their efforts are ineffective. As a result, they also pay a considerable amount of legal costs, just to get their money. But you can be a lot way smarter, right? With SMS reminders, you can have a true competitive advantage, while reducing costs and improving cash flow. Too good to be true? Not really.

“Hi, your invoice is overdue”

One of the simplest ways to send out payment reminders is bySMS. With automatic, personalised SMS messages, you make sure your customers are informed when their bill is overdue. Because SMS has a 97% open rate and a high remembrance rate, your customers are more likely to act upon your request: paying their bill immediately. That’s what we implemented for VOO, for example.

“Hi, do you want to get ahead of your outstanding invoices?”

A pro-active way off improving your cash flow is to contact your customers about their bill early. You could for example send out an automatic SMS to your customers as soon as your invoice leaves the door. In that way, you will improve the speed of payment, which will boost your cash flow. You could also offer your customers an incentive – like a small refund – when they pay early. That’s probably the most effective way to make sure your customers pay their bills immediately.

“Hi, do you want to save money?”

Unpaid invoices always come with extra costs. Not only for you as a company, but also for your clients. They might have to pay extra administration fees and other costs, to compensate for their negligence. But that puts the relationship between you and your customers at stake. There is a thing called a direct debit order. In that way, your customers don’t have to think about paying their bills, as the money they owe you are directly debited from their bank account. You could use SMS to inform your customers about it, and to engage them to take the necessary steps. It’s a win-win situation.As you can see, there are many solutions for recovering unpaid invoices. The most important is to analyse which method will save time and reduce the number of unpaid invoices for your company. Not sure which tool to start with?