It’s a fact - marketing campaigns can deliver significant cost savings as well as increasing Direct Debit conversion rates for organisations offering payment by Direct Debit.
And we know what we’re talking about - our past experience in developing a variety of successful marketing initiatives, in both the public sector and across a range of other business sectors proves this is an approach that can benefit everyone. Our previous campaigns have increased sign up rates for participating organisations by anything from a fairly modest, but nonetheless significant, 12% to a massive 400%.
The Direct Debit advantage
More and more businesses are recognising the very tangible business benefits of customers paying by Direct Debit. Here are a few reminders of the key reasons why your business might benefit from customers switching to Direct Debit or from changing the way your Direct Debits are set up and collected. You might find these useful if you need to present a business case to support a Direct Debit marketing campaign.
Improved cash flow
Switching customers to Direct Debit means you can guarantee the timing of incoming payments, ensuring a consistent and predictable cash flow.
Reduced administration time and cost
Direct Debit means you don’t have to spend time issuing reminders and chasing payments.
No more lost or delayed payments
Payments can be difficult to track, can easily go astray or be delayed. With Direct Debit you receive the payment on time, every time.
Predictable payments not only improve cash flow but also enable you to better plan business resources such as staffing and other expenditure
Simpler and more convenient for customers
77% of customers are positively disposed to Direct Debit and for 62% of customers it is their preferred payment method.