Frazer Blog

Grow business by offering multiple ways to pay

by | Aug 22, 2016 | Funeral Payment Options

A person paying online with a credit card

People like options. When it comes to paying, that’s no different.

Having options gives people a sense of control and a sense of comfort. As a funeral director, one of the easiest ways to reach more families is simply to offer them more payment options — options that are easy and effortless for them.

At the end of the day, it’s about your client families’ satisfaction. A J.D. Power Study found that convenient billing/payment options are key to improving consumer satisfaction.

More than half of customer satisfaction is determined by the billing and payment process. Even as early as 2010, studies indicated digital payment options made people happier because of easier access to statements, reduced clutter, and environmental friendliness.

So if a customer wants to pay via a financing plan or simply from the convenience of their smartphone, they should be able to. Happy client families are just one of the perks — but there are other reasons to consider offering multiple payment options.

The Future Is Increasingly Digital

People like to pay online. The number of people using mobile and online bill payment continues to rise. A study by eMarketer found that the number of people who use mobile bill payment will rise from around 37.5 million in 2016 to almost 70 million by 2019. Each year it continues a sharp climb. Back in 2015, the total amount of mobile payments equaled around $8 billion. By the end of this year, it’s expected to reach more than $27 billion.

Reach New Families with New Options

Not everyone can afford to pay the same. Money is tight. Many Americans lack the funds needed to cover even a $1,000 expense. Families are living on a fixed income or have to live paycheck to paycheck. By adding alternative options to pay — in addition to traditional cash, card, and check — you open up doors for new client families who otherwise couldn’t afford certain services. Offering financing, mobile and online payments, and even crowdfunding are all additional payment options that can connect you with more families in your area.

Modern Appeal

Having limited payment options also makes your funeral home look dated, and that hurts. More than 90% of consumers have said they would consider using another business if the current business appears to use outdated methods and technology. Not everyone is going to be interested in using alternative payment methods, but you’ll save yourself from missing out on the families who are interested in them — or need them.

1 Comment

  1. Hundal Mark

    Great article,From past two years the most of the payments are digital,this payments are easy and simple.Thanks for sharing.

    Reply

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