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How WhatsApp and SMS Complement Each Other in Digital Debt Collection

How WhatsApp is Surpassing SMS Engagement in Debt Collection

December 12th at 11am 

Duration: 45 minutes
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Businesses continually strive to find the most effective ways to engage with customers, especially in sensitive areas such as debt collection. Choosing the right channel significantly impacts the success of your collection efforts.   

The decision between leveraging WhatsApp and SMS is pivotal. Relying on SMS alone leads to missed opportunities, as customers no longer respond to SMS as they used to. WhatsApp can profoundly impact the effectiveness and efficiency of collections campaigns.        

Historically, WhatsApp was not readily available for use in debt collection, but this is no longer the case, with many collections teams optimising their contact strategies by blending WhatsApp and SMS.   

In 45 minutes, we will take a closer look at how WhatsApp and SMS are working in debt collection today and what customer engagement and agent efficiency metrics you can expect to achieve.   
 

Key points we will cover

  • Why WhatsApp is proving so efficient in achieving engagement rates of 60%+   
  • See what results DCAs and collections teams are achieving and how they navigated the transition to using WhatsApp 
  • Understand the differences between the two channels and what this means for protecting sensitive customer information. 
  • Maximising completed conversations using enhanced customer interaction versus limited feature set of SMS 
  • Review the cost models and the financial considerations between using WhatsApp and SMS 
  • Getting started what you need to do 

Whether exploring new platforms or optimising existing channels, this webinar will highlight the untapped potential of newer digital channels in your debt recovery efforts. It will help you redefine your approach and achieve greater efficiency and effectiveness in your customer engagement and collections process. 

 

Everything you need to deliver great customer experiences and business outcomes

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METRICS WE’VE ACHIEVED

52%
Uplift in Payment Arrangements
42%
Increase in Agent Productivity
57%
Decrease in Operational Costs
48%
Increase in Customer Engagement

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