Collecting outstanding payments is an activity that is as old as the hills. And in 2021 we are seeing more and more collections companies and teams opening up to the newer and fresher approaches to engaging with customers. But with 89% of businesses still not using digital or mobile engagement, there is still a way to go for many, and lots of questions to be answered.
One of the aftermaths of the pandemic is how lenders engage and communicate with their customers. We have had to move from a functional and formal engagement to a sympathetic and supportive approach and traditional communication channels just don’t support this new world of customer interaction. And therefore, the need to innovate and modernise how payments are collected is moving up the priority list.
Hearing what customers are saying, not applying a one size fits all approach is what is delivering tangible success to many collections teams that have already taken the steps into the modern age of debt collections. And one of the first ports of call is engaging with customers in their channel of preference. This is not a new notion, but it is still one that is not being optimised to the fullest. But what does modernising debt collections actually mean?
“Webio‘s conversational messaging now plays a primary role in our customer contact strategy deploying before dialler campaigns and it really works.” – Snap Finance