Unfortunately for venue hosts, late payments and even nonpayments are a consequence of running a business and can lead to some awkward conversations.
There are many reasons why a client might miss a payment, from simply forgetting it’s due to an unexpected expense that has made it hard to pay. Regardless of the circumstance, an unpaid invoice is never good for business.
We’ve pulled together a few ways for you to handle these tough conversations below:
Include the breakdown of the payment plan in your contract
By incorporating each clients’ payment plan into the contract, you’re able to manage expectations from the beginning. This simple action also allows you to discuss and agree on a payment plan that works for both you and your client. Once the contract is signed, you’ll both feel more confident in knowing the upcoming payments and their due dates.
Generate payment links in advance
After you and your clients have agreed upon your payment plan and signed their rental agreement, move the lead to the Booked stage and generate each upcoming payment link. Be sure to select "Display in Client Planning Portal" so your couples can see each upcoming payment- and complete them ahead of time if they wish!
Send automatic reminders
When you use a venue management system, you are not only able to request payment from a client, but also automatically send them reminders for those payments! With this feature, you no longer have to worry about a client forgetting about a payment and can eliminate the element of surprise when the payment is due.
When you create a payment link with Weven, you can set as many reminders as you would like along the way. Whether it is a weekly reminder or just a notification 1 month, 1 week and 1 day before the payment is due, having a reminder set in place eliminates another task for you and is a helpful nudge for your client!
Call your client
If email or text isn’t working, it might be worth trying to get the client on the phone. Whether your email was going to spam or your texts were getting deprioritized, a phone call is a quick and easy way to get to the point. Putting in the effort to connect with your client and hearing them out will go a long way. Another option is to set up periodic check-in calls throughout the planning process- this way, you have a set time to connect and can discuss any upcoming or past due payments.
At the end of the day, both you and your client want their event to go seamlessly, from collaborating on vendors to paying their final payment. Through Weven's venue management system you can manage expectations upfront and help with polite nudges along the way. This will be sure to leave a positive impression on your client while also ensuring your business is taken care of.