don’t forget the simple circular

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don’t forget the simple circular

circulars are quick, cheap and very effectiveA few years ago we sent a circular with the following wording to selected parents of girls in a private college whose fees were overdue. It didn’t go to all parents with overdue fees, just to those that were approved by the Business Manager. It wasn’t personalised, just included with the next terms fees – no extra postage!For the first three weeks of the next term that college tripled their budgeted income from fee payments as a direct result of this circular. No phone calls were made, no other correspondence was sent. Nothing else whatsoever. Just this circular.

CIRCULAR TO PARENTS WITH OVERDUE COLLEGE FEES

Please find enclosed with this circular the statement for next terms College fees. This circular is being sent out to the parents with overdue fees so that we can take this opportunity, before the new term begins, to remind everyone that payment of each term’s fees is expected to be received during the first week of each term.

With this in mind, over the next few weeks the College will be contacting any parent who has overdue or unpaid fees by both letter and telephone to follow up payment of their account so that future plans and developments at the College are not affected by their non-payment. We are confident that all parents of our students appreciate the necessity of maintaining a healthy cashflow for the College, as it is our children who are the ones who benefit.

Would any parents please contact me personally if they are experiencing any financial hardship, as the College is quite amenable to making realistic payment arrangements for parents who find themselves in such situations.

Why did it work?
Fear of the unknown. People don’t like to be contacted by phone about overdue fees. This circular tells them that they will be if the account remains outstanding. No extra postage costs either. Simple huh?

By | 2017-07-13T08:51:39+00:00 April 3rd, 2015|wording|0 Comments

About the Author:

Have you ever wondered why a client does business with you and then ignores your invoice like they had no intention of paying it in the first place or they treat you like their own personal line of credit, leaving YOU dangling, waiting months for their payment? Unfortunately this situation is all too common and can even be puzzling for the most experienced business owner. If you’ve ever had to handle outstanding accounts or you are just so over non-payers, then we can help. Real-world skills, solutions, tips & strategies to get more accounts paid on time, and, most importantly, how to maintain customer goodwill while keeping YOUR cash flow in the positive. You will find the blog posts helpful but to get real results, contact us by using any of the forms on this site, by email or by phone. I’ve been involved in the management of accounts for over 30 years, heard every excuse in the book, can spot a non-payer at 20 paces. Finance Companies in the 70s (systematic, tough), professional firms in the 80s (no systems, too gentle) and, since then, just about every other sort of business you can think of. I’ve written books on the topic, spoken all over the place about it and the blog in this website is my way of “giving back”. I hope you find it helpful.

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