2023 Guide: Improve Collections and Customer Service – Strategies for Successfully Reducing Risk and Improving Customer Retention
This practical report focuses on compassionate strategies to mitigate this rise in debt coupled with consumers’ decreased ability to pay. The strategies have new digital possibilities at its core, and is always respectful of both legal and ethical issues within both North America and the United Kingdom.REPORT
If done well, the way you handle debt collection can not only recover what you are owed, it could also work as something of a customer sales tool – keeping that customer with you as their finances restabilise.
Debts are soaring for Gen Zs entering the working world - a generation that's been hit hard by Covid-13 and it's many repercussions, along with a surge of new technologies replacing the entry-level jobs that would have been their career stepping stones. Let's talk about how you can win their favour as they enter this brave new world and help them to have successful, debt-free customer journeys. You may just win their loyalty for life.
In a sensitive business or commercial transaction, would you rather have a conversation with a human or a computer? Human, you say? Well, perhaps not.
Not all debts are created equally. Some are easy to get back, others will be lost forever. Only by combining intelligent data capture with intelligent communication can you hope of finding out which is which on a mass scale. With proactive conversational AI, you can quickly probe your debtors to find out which levers you need to pull to guide the issue to a favourable resolution.
It may be counter-intuitive to think that people might prefer to speak with a computer over a human being. But early experiments with AI revealed some illuminating human behaviours that are central to understanding our preference for non-judgemental entities in personal matters.
This paper explores the collections industry's changing landscape and presents a proven solution for first party collections teams to recover outstanding consumer debt more efficiently whilst delivering better outcomes for consumers.
This report outlines the current debt landscape in the US, what impact technology and innovation has on collections agencies and most importantly, how to create an effective, compassionate debt collections strategy for your customers in light of the November 2021 regulations.
Sending our biggest congratulations to our brilliant client Openreach who recently cleaned up at the prestigious European Customer Experience awards 2022, beating fierce competition to win gold in the ‘Customer Experience in the Crisis’ category and bronze in ‘Customers at the Heart of Everything’ category.