With the consumer friendly environment that currently exists with regulators, the debt collection industry also needs to create new ways to soften the image of debt collection while increasing its effectiveness. How? Implementing the use of Emails and Text messaging. By using electronic communication channels to interact with the debtor, we can also send consumer friendly content to the debtor to give them helpful tools to live closer to their debt-free-life goal. Also, providing value and extra help and care builds a relationship with them. Sharing links to consumer education sites that discuss unbiased facts about bankruptcy, disputes, settlements and the advantages of paying their bills also establishes trust. Plus, these communication channels are so inexpensive in comparison to outbound calls or letters that the collector can send friendly notices along with dunning letters. Equip your consumers with valuable help at the same time you ask for payments so they see they are also bettering their own life, and not just repaying a debt alone. Show them benefits.
Imagine an email to the consumer that provides a link to a credit bureau article that explains how much their credit score can improve by just paying off the collection accounts along with a note that says “Click here to see the discount we are offering you if you pay your bill today!” The discounts could be 25%, 54% or up to 74% off your current balance. “CLICK HERE TO EXPLORE YOUR OPTIONS”
Also your dunning notices will seem softer with images of consumers happy and soft colors in the email template. Additionally, you can change the dunn to softer tones that drive the consumer to self cure at your payment site by ‘clicking the button’ or ‘talk to a collector’ by clicking the other button. By driving the consumer to self cure or create an inbound call themselves,, you reduce the compliance issues and the need for so many outbound calls.
What help to show your consumer’s what’s in it for them, paying off their debt? We’ll show you and set you up with a consumer friendly email campaign. You’ll feel great too. Give me a call at 904-687-1687
Phillip W. Duff