Introduction to Automatic Payments
Automatic payments are something that have been around for quite a while, yet are still a relative novelty when it comes to businesses charging their clients. There are multiple reasons as to why businesses should consider moving all of their payments to automatic methods – for both the business owner AND the client..
For those in the fitness & health industry, automating your payments can do wonders for your business. This is because it matches perfectly with the “class/appointment scheduling” that is focal to the industry’s common business model. You upload your classes or appointment slots, and watch as your members or clients pay for your services remotely. The impact that this seemingly innocuous change in method of payment has on your revenue is incredible – lets delve deeper to get a better understanding of why..
From your Client’s Perspective
The client benefits massively from automatic payments. Clients of yours will value convenience more than most other factors when it comes to making a purchase. The “Marketing Mix’s Four C’s” consist of:
Automating payments solves one of your clients’ key issues when making a purchase. It is massively important for you to simplify the process of payments for your clients. Members/Clients can now pay for your service at any time, wherever they are, on their mobile device. This enables your business to be 24/7, rather than just the hours when your business is providing a particular class or when your business happens to be “open”. This dynamism opens the door for clients who may think of signing up for a class or making a purchase while in the comfort of their own home.
A second benefit for clients is that they can avoid running up a bill from utilising the services available to them – and potentially being unable to pay it off. Automatic payments means they can pay for their classes in small instalments and as a direct consequence, be able to afford more. Cash flow is hugely important for everyone – not just businesses!
For Business Owners
From the business perspective, there are multiple benefits. Let’s start by stating the end results, and then explaining how you get there.
One of the most exciting things you can expect from automating your payments is watching your revenue grow. You can wave goodbye to lost payments as it is now incredibly easy for your clients to make their purchase – a significant barrier to taking payments has now been lifted.
Another reason why you can expect your revenue to increase with the automation of your payments is that you can identify what clients are no longer attending your classes or buying memberships. You can then target these clients, recover their business & enjoy the increased sales – and PlanItAppy provides a ‘smart messaging’ system to take care of this for you!
It’s no secret that the efficient automation of business processes has been a key success factor of business of all sizes. From the Supply Chain Management of Walmart leading to their complete industry dominance in the USA, to SMEs who take advantage of the capabilities that the technological revolution has afforded them in the past thirty years or so.
Gaining a competitive advantage over your rivals can directly stem from implementing a system that automates your processes, as you now have far more time to focus on more pressing issues in your business. Automating your day-to-day tasks frees up your time for focusing on strategic issues that require the business-owners undivided attention, such as marketing and forecasting. Taking & tracking payments can be taken care of by a management system, saving you time and stress!
Growing the firm is on the mind of every business-owner – but it is often given a back-seat until the day-to-day issues are sorted out. Improving a firm’s cash flow is a necessary step to be undertaken before growing your business and PlanItAppy provides you with that. You have removed a key obstacle of paying, and thus you can expect to see more cash flow into your account.
Automating your payments also facilitates business growth as the menial, day-to-day tasks of collecting & tracking your payments manually is now taken care of by a system. This gives you the chance to focus on the business growth strategies you have been planning to implement, but had so far struggled to do so.