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Financial Solutions
22 Oct 2018

Retain customers despite dunning process?

With our digital and personal payment page, companies retain up to 15 % of their end customers and provide a positive customer experience even in the dunning process – with more return flows and a sustainably reinforced business relationship.

When it comes to unpaid invoices, people are quick to reduce the service level to the minimum necessary. Because the good customers who pay for services quickly and reliably are at the center of day-to-day business, and nobody wants to invest any more in supposedly bad customer relationships. But an unpaid invoice can often be the result of a short-term payment difficulty or a forgotten invoice – because life can sometimes be turbulent, which is then reflected in the financial situation of consumers. A company that immediately cancels a contract or relentlessly chases up payment is squandering a significant opportunity to reinforce the customer relationship and to reach a solution acceptable to all parties.

Worth its value in gold: mutual appreciation in a competitive environment
As a Key Account Manager in the telecommunications industry, I know that these sectors are highly competitive environments. Customers are shopping around more than ever. There are attractive bargains, promotional offers and special discounts to be had everywhere. For companies, these price discounts have to be offset by a long-term customer relationship – terminating a contract prematurely precludes this. Intelligent solutions which offer consumers a pleasant customer journey even when there is a delay in payment and which have a sustainable impact are all the more important. A company that wants to be respected must also act respectfully.

Digital payment page as a bridge between companies and customers
For this reason, we complement the dunning process of our clients with a personal digital payment page. This includes a landing page with the look and feel of the company, which can be accessed directly by a link, QR code or by clicking from the user section of a website. This seamless transition is easy to implement for companies and appears to customers as if from a single source. On the payment page, end customers can transparently see all data concerning the payment and the receivable, as well as an extended choice of payment options, which can be used directly on the computer or mobile. There is also the possibility of linking our in- and outbound telephony in order to resolve any outstanding questions and if required to send a new link to the payment page by SMS.

The right amount of service increases conversion and return flows
The success of the digital process can also be seen in the return flows: Payment in just a few clicks is used by a good 5 % of end customers, and in our experience another 5-10 % pay immediately after one telephone call. Out of these customer relationships retained, up to 90 % remain good paying customers to our clients. Because the payment pages are closely linked with the systems of the companies who commissioned us, they are immediately notified of the receipt of payment. As a result, downgrades of services or blocks can be reversed as quickly as possible – much to the satisfaction of the end customer who feels they almost immediately get something in return for paying the outstanding invoice.

 

 

Annika Horenkamp
Key Account Manager Telecommunication |Arvato Financial Solutions

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