10 Ways to Get Association Members to Pay On Time

image of cartoon lady holding invoiceIn a recent blog post about how to get invoices paid faster, Turbine outlined 10 tips for getting paid on time.

  1. Be polite

Small phrases like ‘please pay your association invoice within…’ and ‘thank you for your membership’ can make a big difference. It can increase the percentage of invoices paid by over five percent.

  1. Be specific

A specific time frame like ‘please pay within 14 days’ resonates with the human mind (a.k.a. your members)  more than something cryptic like ‘payment terms: net 30’ or ‘pay upon receipt’

  1. Use interest

Explaining that you’ll be adding interest on late payments results in a higher percentage of invoice payments, but typically the payments take longer for the association management to receive.

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  1. Offer incentives

Offer discounts to association members who pay within a set time frame (e.g., 5% for online payment received within 5 days).

  1. Do it right

Ask the association member about their preferred invoice method. When it comes to a member business, make sure invoices are properly formatted, include all necessary details, and are sent to the correct person.

  1. Make it a routine

Invoice members at a set time, every time. People pay faster when invoices are emailed between certain times. Be sure to determine the highest success rate for your membership.

  1. Multiple payment methods

If your association members have different options for payment, particularly online (credit, debit card, ACH transfer, etc.), they’ll pay faster.

  1. Audit your members

Pay attention to the amount of time it takes for your members to pay their membership dues and dial in on habitual late payers. Make an action plan to ensure your association actually gets paid.

  1. No benefits until they’ve paid

Would you let a customer leave your store with a new set of patio furniture, with the promise of payment? It shouldn’t be any different for your association members.

  1. Be prompt with invoices

Sending invoices right away typically results in faster payment. Issuing association invoices later often means delayed payment.

See how your association can easily process one-time and recurring credit card,
debit card,
and bank payments with GrowthZone Pay.

Editor’s note: This article was originally posted on April 23, 2019. It has been updated.

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