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Make Effective Collection Calls

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Bulgarian Association of Credit Management
Bulgarian Association of Credit Management

This document provides tips for making effective collection calls by telephone. It suggests that phone calls are more difficult to ignore than other forms of contact. The tips include smiling to sound confident, speaking clearly, focusing on the call, being prepared with account details, negotiating payment plans, and following up on commitments. The goal is to resolve issues promptly while maintaining a professional demeanor.

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Make Effective Collection Calls Velin Nikolov OB10 Credit Control 27 December 2012
Why is the phone the best way to contact customers? A telephone call is far more difficult to ignore than a collection email or dunning notice The phone call generally takes less time than it would to generate an email If the person the collector needs to speak with is not available, they always have the option of asking to speak to that person's manager If there is a legitimate problem that has delayed payment, the collector can gather the information and begin the process of resolving the problem sooner rather than later 息 copyright OB10 2010 OB10 and the OB10 logo are trademarks of OB10 Limited and are protected by law
How to appear more confident when making collection calls Smile. Come up with a greeting that says you're happy, pleasant and confident. it will be noticeable in your voice. Speak up. Your voice should be loud enough to be heard and convey confidence-- not too loud but not too soft. Sit up straight in your chair and imagine the debtor is sitting across from you. Focus. Maintain "eye contact" by staying focused on the call. Don't check your e-mail or watch other people in your office. Stay focused. Relax.
Effective telephone techniques Organizing your thoughts before making the call Have all the facts at your fingertips - in case you need to refer to them Have a plan in mind for the call Be courteous, but firm Keep calls short and to the point Remain professional no matter what the provocation Do not respond to anger or sarcasm in kind Make regular calls --- people who call less frequently will likely to be the last creditors paid Set goals as to the number of calls, number and value of commitments received
Effective telephone techniques Be prepared to negotiate Know how far you will want to go At the beginning of the call, identify yourself by name and employer, Make certain that you have reached a decision maker Don't be afraid to go up the chain of command whenever necessary to get a payment commitment If you receive a payment promise, repeat it and indicate you are making notes about it Ask why the payment is late Ask what you can do to get the customer to pay on time or closer to on time on their next payment and on an ongoing basis
Effective telephone techniques Always establish a follow up date for each call Return as many calls as you can the same day as they are received Focus on the caller - give them your complete attention during the call Don't allow yourself to be distracted before or during the call - will decrease overall effectiveness Take careful notes after the call about any commitments you receive from the customer Try never to put any customer on hold during a collection call Develop some degree of rapport after calling often enough you will develop a reasonable working relationship.
Effective telephone techniques Try to make a discussion about a past due balance as a joint problem that you and the customer need to solve together. Doing so makes the collection call less threatening, but not less important. Don't give them the option of a yes or no answer. Give them the option of how will pay Some will say they cant pay today. All we need to know now is when they do intend to pay. Phone and leave a message twice, not more. When chasing slow payers, allow people to "save face.
Good luck!

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Make Effective Collection Calls

  • 1. Make Effective Collection Calls Velin Nikolov OB10 Credit Control 27 December 2012
  • 2. Why is the phone the best way to contact customers? A telephone call is far more difficult to ignore than a collection email or dunning notice The phone call generally takes less time than it would to generate an email If the person the collector needs to speak with is not available, they always have the option of asking to speak to that person's manager If there is a legitimate problem that has delayed payment, the collector can gather the information and begin the process of resolving the problem sooner rather than later 息 copyright OB10 2010 OB10 and the OB10 logo are trademarks of OB10 Limited and are protected by law
  • 3. How to appear more confident when making collection calls Smile. Come up with a greeting that says you're happy, pleasant and confident. it will be noticeable in your voice. Speak up. Your voice should be loud enough to be heard and convey confidence-- not too loud but not too soft. Sit up straight in your chair and imagine the debtor is sitting across from you. Focus. Maintain "eye contact" by staying focused on the call. Don't check your e-mail or watch other people in your office. Stay focused. Relax.
  • 4. Effective telephone techniques Organizing your thoughts before making the call Have all the facts at your fingertips - in case you need to refer to them Have a plan in mind for the call Be courteous, but firm Keep calls short and to the point Remain professional no matter what the provocation Do not respond to anger or sarcasm in kind Make regular calls --- people who call less frequently will likely to be the last creditors paid Set goals as to the number of calls, number and value of commitments received
  • 5. Effective telephone techniques Be prepared to negotiate Know how far you will want to go At the beginning of the call, identify yourself by name and employer, Make certain that you have reached a decision maker Don't be afraid to go up the chain of command whenever necessary to get a payment commitment If you receive a payment promise, repeat it and indicate you are making notes about it Ask why the payment is late Ask what you can do to get the customer to pay on time or closer to on time on their next payment and on an ongoing basis
  • 6. Effective telephone techniques Always establish a follow up date for each call Return as many calls as you can the same day as they are received Focus on the caller - give them your complete attention during the call Don't allow yourself to be distracted before or during the call - will decrease overall effectiveness Take careful notes after the call about any commitments you receive from the customer Try never to put any customer on hold during a collection call Develop some degree of rapport after calling often enough you will develop a reasonable working relationship.
  • 7. Effective telephone techniques Try to make a discussion about a past due balance as a joint problem that you and the customer need to solve together. Doing so makes the collection call less threatening, but not less important. Don't give them the option of a yes or no answer. Give them the option of how will pay Some will say they cant pay today. All we need to know now is when they do intend to pay. Phone and leave a message twice, not more. When chasing slow payers, allow people to "save face.