Listening to customers keeps them happier, boosts retention and helps companies identify areas of improvement. In debt collection, listening is a key skill to look for in a new hire. It is an essential part of consumer interactions, determining the success (or failure) of the calls your agents make.Deep ListeningCommunication and collections professional Mary Shores is a vocal advocate of …
3 Quick Tips to Create a Connected Consumer Experience
One of my favorite quotes is by the author Maya Angelou: “I’ve learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel.”This is clearly a great quote for people interested in personal development because it perfectly captures the importance of leaving a lasting, positive impression on …
Collection Success: The Art and Science of Mental Rehearsal
Another year of Collector.Live! content is in the books, and the speakers did not disappoint. Negotiation expert Joshua Weiss spoke about negotiation tactics front line collectors can use to improve call outcomes and Joann Needleman of Clark Hill discussed digital communication with consumers. Another inspiring speaker, Mike Hiller of American Profit Recovery, discussed the benefits of mental rehearsal for improving …
4 Core Payment Negotiation Tactics for Debt Collections
Collector.Live! has wrapped up another program full of speakers, panels and inspirational knowledge. Front line collectors gained insight on everything from the impacts of Regulation F to the positive impacts of mental rehearsal on job performance. One such speaker, Dr. Joshua N. Weiss, who is a negotiation and conflict resolution expert and President of Negotiation Works, Inc., taught attendees the …
Increase Debt Recovery with the ‘Goldilocks Zone of Connection’
Are your collectors stuck in the friend zone with consumers? In other words, are your collectors sympathetic to consumers to the point where they feel bad asking for payment and don’t collect any money or only a small amount? Or, maybe it’s the opposite problem. Are your collectors so aggressive on collection calls that their words and behavior land them …
What is a Digital Accounts Receivable Strategy and Why Do You Need One?
Your business plan impacts every aspect of your agency’s day-to-day operations and long-term decisions. Although traditional approaches have worked in the past, technology, changing consumers, and current events are all forcing a shift in debt collection. It’s time to embrace a digital accounts receivable strategy to keep your business moving forward.What Is a Digital Accounts Receivable Strategy A digital accounts receivable …
Marketing Messaging: Making It Work for Accounts Receivable
The way accounts receivable businesses operate is changing. Consumers and potential clients spend more time researching companies online and less speaking directly to your business. That means your agency’s website must speak to visitors as clearly as possible. A concise marketing message and clear website copy can help you communicate to all your audiences. Use messaging properly and you will …
Positive Language: The Secret To Collecting More On Delinquent Accounts
Speaking to consumers about delinquent accounts can stir up negative emotions. Retraining yourself and staff to replace negative language or neutral phrases with positive language can have a big impact on your debt collection calls. To optimize your consumer interactions through positive communication, first focus on tone, intentional language, and breaking negative habits that impact calls.Intentional Positive Language and TonePeople …
Build Your Consumer Connection Pyramid: One Word at a Time
Share this ArticleToday’s post is a guest blog written by Mary Shores, agency owner of Midstate Collection Solutions. The coronavirus has touched every one of us in some way and caused a great amount of fear and uncertainty. At the same time, it has required us to isolate ourselves, which means the need for true human connection has never been …
Good Communication Skills: The Future of the Collections Industry
At this time of economic uncertainty, good communication skills have become a popular topic for experts in the debt collection industry. The role of communication now and in the future of debt collection was discussed at length during last month’s special Home Edition of Collector.Live! Several presenters took advantage of their time during the day-long virtual presentation to talk about …
Collector.Live! Home Edition: Home Office Set Up
In the past few years since its creation, Collector.Live! has become a mainstay of debt collection company education for all levels of the industry. It’s not surprising, at such a difficult-to-navigate time, many well-known ARM professionals answered the call to put on a special Home Edition of the event. Unlike past paid events, Collector.Live! Home Edition was held at no …
Tips for Good Website Design So Your Collection Agency Can Take More Payments
Share This Article The sudden change in daily life due to the coronavirus has businesses moving more operations online. Debt collection agencies are now working with remote staff or smaller teams, and are struggling with several state laws blocking collection activity. Agencies should now put a greater focus on good website design to make sure consumers can still make payments …
