Money is typically a sore subject for most business owners, especially if they’re dealing with clients who often send out late payments, or those that complain about your business not offering more payment options.
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Then again, you have your marketing experts telling you that no matter the invoicing policy of your company – these bits of red tape can actually be used to your advantage. They can help boost client relationships, encourage timely payments, and inspire them to recommend you to other businesses.
Too many businesses fail to recognize this potential an invoice has. While its main purpose remains to collect money from your clients and ensure a steady cash flow for your company, it would be a pity not to make the most of an existing procedure that you already have in place. So, let’s take a look at how you can harness the power of your next invoice, and every single one that comes afterwards, to boost your business, enhance your marketing strategies, and bring more business to your door.
Express your gratitude
Although it’s considered an automated process that is there simply because the law requires it, invoicing is actually a great part of your overall customer experience. If you have one tone of voice throughout the purchase cycle, on your web pages, and in every newsletter email – you need to maintain that voice even on your invoice. This is actually a perfect opportunity to express your gratitude for their trust and purchase, and preferably do so in a way that will resonate with them.
Templated thank-you notes might do the trick from time to time, but if you wish to boost loyalty and inspire customers to remember your brand when the time comes for them to make another purchase, you need to think outside of the proverbial box. Try your best to tailor your thank-you notes for each customer, and always make sure that your brand voice is clear through that message. If your brand is famous for its eco-friendly etiquette, let them know that you appreciate their business and that you’re happy they have joined your cause in protecting the environment with their purchase.
Make it simpler with software
Templates and automated thank-you notes may not be the best of options for brands that want to increase loyalty, however, automatization does help make the process significantly simpler for you as well as your customers, and it still allows you a certain level of customization. For instance, handling subscriptions with a direct debit system allows you to offer a number of different payment options, thus giving your customers the freedom to pay for their recurring invoices through the method that suits them best.
The same system lets you collect relevant data, analyze it, and use the results to make your future invoicing more effective than before. As long as you make sure that you don’t let your software do all the decision-making, and you use it to tailor your invoicing to better suit your customers, you can encourage them to pay on time and stay true to your brand.
Personalize your messages
The common thread for all of the above suggestions is precisely this: personalization. If your customers work with your brand and come back to your stores on a regular basis, then seeing one and the same, stale message time and time again may make them feel irrelevant. The world of digital work is already impersonal enough, hence the need to give it a touch of personalization to make your customers feel more valued.
This is especially vital for smaller businesses that have a limited clientele, which is also a perk since you can actually take the time to tailor your messages for each invoice you send out. You can use the data they have shared with you to customize the message and the entire invoice, and then measure their reactions to see how you can take it a step further the next time you communicate. After all, invoicing is one piece of the overall communication puzzle – make it count, and make it memorable.
Discounts matter
There’s no dispute that invoices are all about money. Sometimes, you can actually use this fact to your advantage, especially if your business can afford such steps.
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One of the oldest and thus most effective marketing tactics is the use of discounts to attract and retain customers, or at the very least inspire them to pay their invoice in a timely fashion. Essentially, as more brands join the market, those that offer discounts on early payments are most likely the ones that will stay in those bookmarks down the line.
What’s more, a personalized invoice that uses a unique discount code allows them the level of control the modern customer loves when it comes to shopping. Other perks can be offered, too, such as a freebie sent in addition to their original order, a gift card for them to pass on to their friends, or something else of value to them.
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Use your invoice to ask for money – but also let them know they have options to pay less if they pay sooner rather than later!
Inspire testimonials and referrals
Reviews are a big deal for modern brands, for a very simple reason: we like to buy from brands we know our loved ones trust. If your best friend recommends a certain shampoo, you’re more likely to give it a go than if you come across the brand on a shelf without any previous context attached to it. The same applies to all of our shopping decisions.
Invoices are a perfect way to ask your customers, provided they have been happy with the purchase and your brand, to give you feedback that you can then post on your website. This increases your authority, boosts SEO, and helps your brand build a more personal connection with its audience.
Invoicing can be just a billing document, or a marketing goldmine, it’s up to you. Use these tips to turn your next invoice into a marketing work of art, and you’ll inspire your customers to stay true to your brand, and turn invoicing into a far more engaging experience!