Collection Training Tips


Collecting debts can be hectic sometimes, but there is always a way to do hectic jobs smoothly, and here we will learn some tips that can help you to get your money.

Know Yourself

Do not make a call to the customer just for the sake of it. Prepare yourself mentally and physically before making any phone calls. People can easily understand your sentiments over the phone, and that’s why you need to sound greedy and wishing to receive full payment.

Show the need and the urgency over the phone call. Unless and until you show the seriousness of the situation, your overdue customer won’t understand the need to pay you back on time. A little emotion in your words will always help. Since you are not aware of the person’s state, things might get negative, but that is quite natural so, it’s ok. You, on the other hand, be optimistic and show the personal importance and benefits of paying their debts on time also the drawbacks if they fail to do the same. Remember, do not forget to keep the professional approach all the time.

Know Your Customer

Every customer has an impact on your business, that’s why you must know them well. Especially whom you are calling. Get every small detail of your customers such as previous records and payment history. Try to find out the exact due amount and reason behind it. Many marketers make this mistake of asking “is there a problem” while asking for money during the call. Always ask for full payment whenever you make a phone call without assuming anything. Do not make that mistake.

Ask Questions

Questioning your customer is the best way to keep control during a conversation. Ask as many questions as you can to your overdue customer. It will not only help you to lead the conversation but also makes you look concerned and worried. During conversation try to make notes, and gather the information that will help you in the future. You can start with open-ended questions and continue with the leading questions according to the conversation. Remember always keep control.

Listen to Your Customer

Listening is as important as you ask questions to your customer. It shows that you care and listen to what your customer has to say. Be attentive to listen because sometimes you may drift while asking questions. It’s not about just listening to the voice of the customer but listening to his emotion, tone, and sincerity.  Make a note and summarize your conversation for future reference.

Make Notes

Keep the habit of making notes and always keep your notes handy with yourself. Many marketers try depending on memory and fail miserably. Notes will help you to remember the specifics of every conversation. You can also save it in your drive or other electronic devices within your reach. Make sure to share it with your colleagues, especially the sales team, as it will be helpful for them too.

Always be polite with your customers on call and confident without being aggressive.

Broken Promises

Fulfilling promises shows credibility, one of the most important factors in the collection calls. If you have made a promise to your customer like ‘looking after a certain problem’ or ‘calling them with the solution to their problem in a certain time’ then keep your promise. And the same implies to the customer also. 

If customers break their promises, do not hesitate to remind them about their poor credibility, and take the right action against them. 

Avoid Arguments and Threats

It has been observed that many times the conversation turns into arguments drifting marketers away from the goal of asking them to make payments. That is why, in the debts collection profession, it is advised to stay calm, composed, and focussed. Getting into dispute is enticing. Try not to permit your clients to lead you, in an unwanted situation. Utilize your influence if all else fails.

Objections

Debtors will try their best to postponed payment or paying part payments. Your objective is to make them pay the full amount now. You may face lots of objections or complaints at that time, but you can use it as an opportunity by taking a commitment from them to make full payments once the complaint is managed.

Work Smart and Not Hard

If you wanted to be a successful debt collector and then you must know how to use the available resources near you. Such as salespeople. Having a salesperson beside you can help in successful debt collection.

It’s always the quality that matters and not the quantity, the same goes for the debt collection. You can take the help of the collection agency, some of them leverage you with collection stickers that you can use on your overdue statements.

In the end, it is important to keep in mind that whomever you talk with they are your business partners and you are just taking care of them by providing customer services. Remember that it is an integral part of your job so enjoy what you do and success will follow.

Article By Robert Pinchuck