Business Book Excerpt
from:
How to Get Your
Customers to Pay, Fast, Easy, Effective Letters
By Michelle Dunn
The most important point to
remember is that though these letters are effective and
will help you collect more money, they need to be used
in conjunction with your credit policy. (See: Become
the Squeaky Wheel: A Credit and Collections Guide for
Everyone, ISBN# 0-9706645-1-6). Personal visits
and/or phone calls should be an important part of your
collection process. You can use these letters as they
are, modify them to suit your needs or your business or
just use one sentence from a letter.
Each letter should be on
your company letterhead and include your company name,
address, phone and fax, web address, email and any other
contact information.
The letters that get the
best results are not “form” letters. If a letter looks
like a form letter it loses some of its punch. Be sure
to type your name and sign each letter if possible. You
can purchase a rubber stamp of your signature, so anyone
can stamp the letters for you. You can also use a
different font in some word processing programs that
look like a signature; this works as well.
Your letter should:
1. Tell the reason for your
letter in the first sentence.
2. Explain more about the
first sentence in your second sentence.
3. Suggest a solution.
4. Thank the recipient.
The most effective letters
are short, to the point and easy to read. Try to avoid
long or confusing words and sentences. The more direct,
the fewer misunderstandings. Have someone read your
letter and see if they totally understand it. If they
do, then chances are your debtor will, too.
Your letter is a reflection
of your business; keep it professional. Remember that
your letter is to persuade someone to send you money.
Your wording and tone are critical, especially if this
is a customer you want to continue to do business with.
Always assume the debtor
will pay. Enclosing an envelope for payment is always a
good idea. You can also include an envelope with
postage. The easier you make it for the debtor to make
payment, the better your chances are of receiving that
payment.
Collection letters should
do two things: retain customer good will and help you
get paid. You know a letter works well when you do a
mailing and your phone rings off the hook when everyone
receives their letters. If you send out a letter and
there is no response, you need to re-work your letter.
-Michelle Dunn
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