Most of the strategies that are used today by collectors tend to be outdated. With the rise of the coronavirus pandemic, there has been a significant change. A myth that you might still believe in is that hard-core tactics win. However, it could not be further from the truth.
The belief that being the most aggressive and loudest wins is wrong as it is based on a mindset that focuses on one person winning and the other losing. You might have played a board game such as Monopoly growing up and thought to yourself that there is only one way to win. The only way to win the game was by bankrupting your friends. Such a concept would only cause conflict in the world of today and result in everyone feeling exhausted and triggered. It might be best that I just proceed to file the lawsuit against myself. The coronavirus has accelerated change.
However, it has also brought with it an opportunity.
The Biggest Secret That Can Help You with Collections Is Getting Customers to See You as Their Ally
The following pivots will help you get customers to consider you an ally and not an enemy.
1. Great Collaboration Results in Great Negotiation
Collection professionals have to realize that customers are not their mortal enemy. Just think about it. The customer, the collector, the creditor, and the legislators are on the same team. They are players who are trying to solve a similar problem that involves eliminating debt. The fact is that customers just want to achieve greater control over their daily and monthly finances, while the collection agent just wants to ensure that the debt is paid in full. Nobody is the enemy.
2. Realize that Connection and Trust Are Essential
To become the best collector, you first need to harness the power of empathy. It starts with gaining awareness of how the consumer feels. You can sign up for a Collection Advantage Online Course or just think about the basic elements of human emotions. You can easily map out how people feel and ensure that they do not feel triggered. Debt causes on to be triggered. It can make one feel uncomfortable having to talk about debt. The pivot requires you to understand the human need to be understood and heard.
3. Do Completely the Opposite of What Customers Expect
Finally, you need to the exact opposite of what customers expect. Generally, the customer expects a horrible experience due to their previous bad experiences and bad reputation or negative stigma that is attached to the collections industry. You need to ease the customer with positive seeds. As dopamine and serotonin are released, customers will have an easier time responding, and they will be able to come up with a solution that works for everyone.
Conclusion
Proving that your collections agency is an ally is the biggest secret that you need to cash in on. It can help your collections agency take revenue to the next level.