Velin NikolovOB10 Credit Control

10 April 2023

Make Effective Collection Calls

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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

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 can’t 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!