If you believe that debt collection will migrate to emails in the future you must read this now

Let’s face it the collection industry as we have known it for the last 50 years will never be the same again. With regulators and clients controlling most of the agencies and law firms processes, there is little chance for an operator to find ways to reduce cost while maintaining compliance and increasing results. But if you agree that phone call will be the last option in debt collection and electronic communication will be the new channel to the consumer then you will be very interested in what I have to say.
It is my belief that emails and texting Will be the wave of the future incompliant debt collection. But the wave of the future is already here. What many of you have not spent the time and ever to contemplate is just how you will not only send but track those emails. The power of the email is not realized  until the consumer opens it and then hopefully reacts to its content in some way.
Most current software packages can send an email, but that is not enough to do business electronically. The marketing world has been sending blast emails with the tracking functions for many years and this is the type of technology that the collection industry must embrace. The ability to not only send an email, but track when it is opened, track which offer was clicked on, what time of day it was opened, doing IP reputation work and much more will be required for agencies and law firms who desire to do business electronically.

Lighthouse Consulting has developed Soft Wave Collections which is aelectronic communication strategy that sends soft waves of pre-written set of messages to consumers over time. These messages often take the form of emails and texts, although other media can also be used. Soft Wave campaigns are distinct in two ways: (1) the timing of the messages follows a pre-determined course; (2) the messages are sent in an automated fashion applicable to a specific behavior or status of the consumer.

 

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So if you’re a naysayer, you’re asking questions like “How do i get the consumer to opt-In to my email campaign?” Or maybe you’re saying “ My client won’t let me do that.” well I have solutions for all your excuses. Once again and if you believe that emails are the future of debt collection, then you need to talk to lighthouse consulting about our Soft Wave Collections.

Phillip W. Duff

Phillip W. Duff the Founder of Lighthouse Consulting was trained in Six Sigma while working for Bombardier Capital in 2001, and is highly successful helping organizations improve their processes using the Six Sigma methodology. Mr. Duff has consulted with numerous companies over the last 10 years and has shown the ability to enact cultural change in a company. He has also initiated programs proven to drive positive revenue growth both as an employee and a consultant. His focus is to help CEO’s with a focus on growth. His knowledge of technology and background in debt collections have combined to help companies automate processes and identify which processes provide profits. Mr. Duff has also developed a unique process of initiating cultural change as a part of developing a revenue-driven atmosphere in a variety of formats. This unique philosophy and technique are unseen to date. His substantial experience in the collection industry, Six Sigma core competency and extensive industry relationships can provide you and your team a matchless perspective into your accounts receivable business or any business strategy.

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