Small business service contractors, like plumbing services, computer technician services, cleaning services and the like, are not usually given to accepting business credit cards from their small business customers.
The jobs performed normally require the payment of fairly large sums of cash or issuing of large checks; something the customer may well not be in favor of doing. Everything would be much more convenient – and lucrative - if you allowed your customers to pay for these services with their business credit cards.
Using business credit cards benefits both parties. Naturally the customers are the most important part of the equation, and here is how they (and you) stand to benefit:
Power of Convenience – If these were not convenient, business credit cards would never have become as popular as they are today. One of the attractions of paying with business credit cards is that your customer does not need to have cash on hand. Accepting their business credit cards means that the job can proceed – there is no need to wait until they have withdrawn the necessary amount of cash to fund the repair. This also means that they are not inconvenienced by having to put up with time delays and you are likely to end up being viewed as efficient. The power of convenience afforded by business credit cards makes them appealing to customers, and this is why business credit cards should - in real terms - also appeal to you.
Purchasing Power – The other obvious benefit to your customers is that business credit cards afford them the ability to have the needed work done immediately. We all know that repairs have the insufferable tendency to become urgent at the most inopportune times. It could come when your customer does not exactly have enough cash to immediately pay for the repair. When you accept their business credit cards, you give the client the power to immediately purchase those goods and services that they need.
Who knows, by affording them the opportunity to use their business credit cards, you could well end up doing some extra business with the client by being given additional incidental repair or maintenance work during the same service visit. For the client, having everything done at the same time, normally works out cheaper. If you do not accept business credit cards, the incidental repairs or maintenance work may have to be left for another day. This could represent a lost opportunity to you in the long run.
Flexibility – When you allow customers to pay with business credit cards, you give them the power of flexibility. They can choose whether to pay the full amount on their business credit card statement when it falls due, or whether to pay in installments instead. Bonuses – Business credit cards offer all kinds of incentives to business credit card users. Some business credit cards offer frequent flier miles, others rewards points, and others still cash back. Customers may want to use their business credit cards to earn these incentives. If you deny their business credit cards, you also deny them the chance to receive that bonus.
Accepting business credit cards empowers your customers. Eventually, you’ll realize that accepting business credit cards empowers you too: It enhances your ability to do more business with the same client; it supports your efforts to hold on to your existing clients; it also improves your ability to effectively compete for additional business against rivaling businesses in your sector.
All of this makes accepting business credit cards, a worthwhile consideration.
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