The secret to improving your receivables management recovery rates lies in active listening. Find out how you can be a better listener today!
Have you ever tried to get a customer on the phone who has been avoiding your call? If so, what did that feel like? Frustrating right? It isn’t easy to have a productive conversation with someone who isn’t willing to talk. This is why listening and understanding what customers are saying to improve your receivables management recovery rates is key. In this blog post, we will share 4 ways that work for increasing revenue through active listening!
Deep listening means staying open to the possibilities that your consumer may offer. Participating in this way will lead you towards better solutions and a smoother process for everyone involved!
"Deep Listening," as it's called, is truly an art form, one where we are committed to understanding what our colleague has communicated with us - without interruption or judgment. Deep hearing can be difficult at first because interrupting someone while they're talking feels disrespectful- but through the practice of deep listening skills, people find themselves more productive on calls from increased customer satisfaction rates all around!
Understanding The Consumer
Empathy is the biggest factor in successful receivables management. Agents who listen to customers understand why bills aren’t getting paid, which opens a door for a closer connection with consumers and increased success rates. No longer are they just numbers on a page, but people who have had something happen in their lives have led them to this point where you work together as partners to get back up again financially healthy.
Driving Discussions Forward
It is important to validate your callers because if they feel heard then, their behavior will change. If someone feels like you're not listening or ignoring them, the person may keep repeating themselves, which stalls progress and puts more pressure on both parties. Those who are validated usually want to negotiate for a payment plan (less likely to escalate).
Listening to consumers is not only about understanding their receivables management resolution needs. Careful, thoughtful listening helps you build a trusting relationship with your customers, which ultimately leads to better account resolutions and an improved outcome for everyone involved in the process!
Here are a few tips for agents who want to get the best deal possible out of every client. First, you must listen intently and wholly when your customer begins detailing their needs. The more questions they answer about how much money they have available or what type of payment plan suits them better- whether on an open term or installment basis - will help you find the perfect solution right off the bat! It's not just good business practice either; by taking this information in, you're also showing customers that we care enough to go back and forth with them until we come up with something truly advantageous for both sides involved.
Limiting negative language is a good way to connect with people and soothe their worries. When someone walks into your office, they need to have faith in you as the professional that can help solve their problem. Sometimes all they need is some reassurance from a friendly face!
Positive Training Program
Your call center training program likely encompasses both new hire and refresher courses. To emphasize its importance, create a learning module dedicated to listening to customers with examples of how it can be applied in different scenarios like collecting calls. Encourage role-playing activities for practice as well!
Conclusion: It’s no secret that listening is a key factor in any relationship. Active and passive listening are skills that can be honed to help you close more deals, increase revenue, and keep your customers happy. This blog post shares 8 ways active listening boosts sales success rates. Click here to find out how!