Successful Utilities Debt Collection
While we are increasingly attached to our screens, one would be tempted to think it is easier than ever to contact someone. That of course is not necessarily the case as spam calls, texts and emails are pervasive as ever across our phones and tablets, leaving many to simply ignore calls and messages from an unknown source. Optio has the solution in the case of debt collection as we employ a multi-channel communication strategy.
Detailed laws governing debt collections have prompted debt collection agencies to innovate contact methods to remain in compliance. This approach has proven highly successful because it has transformed debt collections into a consumer centric process that at once builds a positive relationship with consumers and simultaneously ensures a greater return for clients.
How Can Multi-Channel Communications Satisfy Consumer Preferences and Collect More Debt?
Method and means of communication can quite often come down to individual preference, which is where Optio’s Multi-Channel Communications platform takes over. Once initial contact is made and confirmed by one of our well-trained associates, we can directly offer solutions in an encouraging manner that not only benefit our clients looking to collect on a debt, but also the consumer, who will be relieved at the prospect of solutions that will release the weight of a debt burden.
Optio Solutions’ Multi-Channel Approach
- Letters
- Phone
- Text Messages
- Live Chat
A multi-faceted approach to debt collections means we have a better chance of establishing that initial right party contact on behalf of our clients. Where the phone contact fails or may be ignored, a letter carries the weight of an official communication and is difficult for a consumer to ignore. Once contact is made, the consumer can consent to receive additional communication via text message or email, which is preferred by most, especially younger consumers.
Online payment portal lets consumers settle their debt
In addition, our online payment portal provides consumers the option of paying the balance or negotiating their own payment agreement within parameters outlined by the client. As many as 15% to 20% of payments received come through the online payment portal, where the consumer never speaks to a representative.
Why phone is no longer always the ideal approach
A simple phone call probably remains the best first step. However, with the current onslaught of spam calls on our cell phones, a consumer might easily mistake the “first-contact” call as spam and ignore it if they don’t recognize the number. It’s a good bet many people never answer calls from an unknown number so we need to have more than one avenue for making contact.
So what to do when a consumer simply will not pick up the phone? Is it a consumer who doesn’t want to deal with a debt and essentially tries to hide? Or is it a consumer who has gotten so tired of spam phone calls that they are simply not going to answer because they don’t realize there is a potential debt solution on the other end? Optio’s multi-channel communications ensures the consumer has every opportunity to address the debt.
Live chat to close the deal
Even before initial contact has been successfully established, consumers may access the online payment portal to ask questions. It is crucial to make it easy for the consumer to get questions answered quickly and concisely while they’re online. Optio has dedicated an online chat forum that makes it easier and faster for consumers to reach out.
Contact us today to learn how an individualized collection strategy can improve your organization’s profitability.
Related posts
