Attract New Customers
The method in which you send payments matters. It creates efficiency for your business and can result in savings. There are higher rates of customer satisfaction. Your payment method can attract new customers.
Word of Mouth
When your customers are satisfied, they gloat to others. This is an important part of the process in finding new clients. If your client is referred, you begin your relationship with a level of trust already established. Whether your clients choose Global ACH or mass payment, having multiple options available ensures satisfaction.
Many new customers are also brought in through searches. If they are looking for a specific services or industry, it can come down to payment options. One company may only offer PayPal, but if you offer wire transfer, check and prepaid Debit cards, you will likely be chosen. It means they can pick the method they prefer and possibly avoid extra fees. More payment options mean a wider audience of consumers.
Studies show people get behind what they choose. When something is forced on them, they tend to be a little resentful. This works with payment methods, as well. If you were to offer only one form of payment, many of your clients might be upset with this due to fees, processing times, or other factors. If you establish a number of options, your clients can choose their favorite payment method and have a higher satisfaction rate due to this.
Something as small as your payment method can have a large effect on client satisfaction. Everyone likes options, and you can offer a number of these, such as Global ACH and mass payment without any extra work. In fact, your workload will decrease, even as you build a larger clientele.