[vc_row][vc_column][vc_column_text]According to the SPC (Brazilian credit bureau), Brazil has 62 million defaulters. If this is bad for the country as a whole, for small and medium-sized companies it can be a trigger for serious financial crises. However, it is possible to work in a targeted and strategic way to avoid default by customers and improve this rate – thus escaping this dreaded statistic.
How about accompanying us throughout this reading? In the following topics, we have selected a series of management attitudes that can help your company to avoid clients default. Check it out!
5 tips to avoid customer default
Before starting with the tips, a general guideline for small and medium-sized entrepreneurs: get to know your client.
And this is not just for building strategies and offering products and services that specifically address their demand. Understanding them allows you to know how to avoid default before suffering from this type of problem.
In-depth market research can help in this endeavor so that this type of unforeseen event, which is so harmful to the financial health of companies, doesn’t have as much impact on their routine.
But that’s not all, of course. There’s a lot to be done to avoid default in the corporate world.
1. Analyze purchase histories
In addition to the previously recommended research, delve into the subject through individual analysis of the profile of your consumers. Through their history, you can identify those with the most potential to generate losses with default and thus to be alert.
Another relevant action, in this sense, is to search at the SPC or Serasa (Brazilian credit research firm), among other associations of this type, to consult the profile of customers with financial pending in institutions.
If someone has bad credit, that can help you plan in the medium term so that any defaulter doesn’t harm the development and maintenance of your company too much.
2. Personalize benefits for those who are always up to date
A good way to avoid default is through benefits. And, in this case, you can plan some benefits and gratuities for those who are always up to date with their respective payments.
Thus, personalized actions will contribute to customer loyalty, to sell more and also to stimulate payment on time. The more valued your client, the better this relationship will be and you will have fewer problems with financial embezzlement.
3. Promote actions to encourage cash payment
In addition to the cash payment, also encourage the credit card! Both payment models are quick and convenient. And they also prevent you from dealing with prejudices.
In general, this can be done through incentives on future purchases or discounts that don’t interfere too much in the profit margin. Therefore, it’s important to balance this considering the accumulated losses so that you don’t run out of resources to keep your cash flow active.
4. Limit credit lines
New customer? So, moderate the lines of credit and special conditions. Once the first purchases are made, you can increase this benefit, with more exclusive and flexible conditions, but only after the relationship is productive for both parties.
In addition, types of payments that are more susceptible to default, such as checks, should be handled more carefully. One way to do this is to request documents from customers.
5. Integrate the financial and sales sectors and automate the financial sector!
Avoiding default, in itself, is an almost impossible mission in companies. However, each defaulter must be treated in a particular way and not through generic actions.
Thus, it’s important that the action of the salespeople is as close as possible to the customer in this process. So they can effectively guide the type of approach most qualified according to each one of them.
Management software and digital products that integrate company information, in addition to automating processes, can be a great asset to avoid default.
And do you know why? Because with them you can get notifications about when a deadline is about to expire and have qualified and advance information for more agile and efficient decision-making.
Not to mention that investment in technology, today, is no longer a differential and is present in most companies – 67% of them are already eyeing digital trends. This also ensures that you can avoid default in your corporate routine.
To get even more security measures to guarantee the sustainable development of your company, take the opportunity to also read our article with 5 essential tips to separate personal and business expenses!
And we also have free material for you to download! They are mandatory notices for companies and condominiums, just download and print! Click here to access them.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][ultimate_icons][/ultimate_icons][/vc_column][/vc_row]
