Top Debt Collection Strategies That Customers Do Not Find Annoying


April 20, 2021

photo 1532619675605 1ede6c2ed2b0 e1620790929708

When it comes to debt recovery agencies, the practice is experiencing a modernization across the globe. With so much going on in the world, you mustn’t annoy customers. This post takes a close look at the top debt collection strategies that will help boost your reputation and not damage it. Let’s dive in.

1. Omnichannel Communication

One of the best ways to improve your debt collection strategy is by ensuring omnichannel communication. It allows you to contact customers using a holistic approach. Omnichannel communication is a great option because it is seamless, complementary, and consistent. Thus, customers will have an easier time responding to your efforts in the desired manner.

The fact is that writing letters and making phone calls have become outdated options. Customers find them to be annoying and disruptive. Besides, letters can be missed. Hence, the debt would remain unpaid. By switching to an omnichannel approach, you get to communicate with customers effectively. According to a study, it was found that about 50 percent of customers solely rely on their smartphones for their banking needs. It provides just how comfortable consumers have become when it comes to using smartphones. When you follow an omnichannel approach, you can utilize online chat, email, and text messaging to generate the desired response.

2. Updating Data

Another great way to ensure that customers do not get annoyed is by updating data. The data concerning customers should always be accurate and up to date. For instance, if you contact a customer for payment even though they have already made the payment, it would affect your reputation adversely.

3. Focus on Each Individual

Each customer is an individual. There is always a reason behind a late payment. With the help of machine learning processes and advanced AI, you can identify patterns and assess customer behavior to predict future outcomes. You can learn about when customers repay debt and how often they miss out on payments. The debt recovery landscape has completely changed with the introduction of AI and machine learning. Now, it is possible to refine responses and predict defaults.

4. Think about Timing

When it comes to communicating with customers, you need to think about your timing. It is crucial that you speak to them effectively and do not harass them. You might be tempted to communicate with customers and chase payments regularly. However, it can prove to be counterproductive. Continuously contacting individuals would make them ignorant, and they would be less likely to respond. It would help if you gave customers time to reach out to you.

Now that you know more about the different debt collection strategies, you do not need to worry about annoying customers. From adopting an omnichannel communications approach to thinking about the time, each strategy will improve your customer service and achieve the desired results. You must adopt an omnichannel communications approach to succeed.

How to create Press-1 campaign2021-05-31T22:42:53-04:00

At NOLA AUTOMATION, we know you are busy and time is valuable. We appreciate your time, so thank you for not making us wait on hold to speak with a representative… we digress 🙂

  • Type Multiple
  • Broadcast Type – Voice
  • Voice Type – Mp3 or Text to Speech
  • Select transfer Number, then continue
Do I need freight broker software CRM to run my brokerage business?2021-06-05T01:34:25-04:00

Answer: The short answer is YES; if you intend on being effective, you will require some program to manage your freight brokerage organization. Many people who succeed at their freight brokerage recognize extremely early the worth of having an easy-to-use system for effectively handling their client’s freight, invoicing customers, and paying providers. In 2021 you should check out more a streamlined omnichannel solution that also offers phone, email, SMS, ringless, video, interactive IVR, and more to help automate your brokerage business; To learn more on how NOLA can help you with your freight brokerage firm reach out to us. 

What is a softphone? How does it work?2021-05-23T12:43:29-04:00

Sip softphone; What is a softphone? How does it work? SIP Phone uses the Open Standard “SIP” to set up and manage phone calls. IP-based network or “RTP . “

So, What is a softphone?

A Softphone is a software-based application that is typically readily available as an application on your smart device or COMPUTER. It is primarily utilized as the primary phone or an expansion of a desk phone.

Softphones have actually ended up being an extra prominent service to remote employees as it gets rid of the requirement to bring a physical phone with you when you function offsite. It is likewise a much more hassle-free and effective option to link onsite and offsite employees.

Exactly how Does a Softphone Work?

There are 2 primary types of softphones: Desktop softphones and also mobile softphones.

Desktop computer softphones enable individuals to accessibility UC includes right from their computer systems without a desk phone. Just download and install a devoted application from your computer system; attributes like conversations, aesthetic voicemail, file sharing, and extra will certainly be readily available to you.

What is Collection Technology?2021-05-16T23:02:39-04:00

NOLA AUTOMATION specializes in collection technology; we originally built NOLA for the debt collection and legal collection industry. Now we expend our software & services for all sectors & businesses all over the world. Business to People to Business

Go to Top