September 27, 2013

OMG Text To Collect LOL!!!

Mobile is seen as a big challenge by most of the contact center industry - - and rightly so. However, it also offers some wonderful opportunities, one of which is aimed squarely at your collections function. 

Traditionally, a right party connect has required debtors to be sitting near landlines at their homes or in their offices. Bazillions of outbound dials are made annually to phones that don’t pick up, because the debtors are out of the house.
Mobile device strategies allow you to reach the debtors where they are at the moment, and to reach them via text, which many people (particularly younger ones) greatly prefer. Research indicates that virtually all text messages are opened, with four out of five being opened within minutes of being received. You can send a message to the debtors and provide them with an opportunity to pay all or a portion of their debt by return text. You offer them the possibility of using their usual source of payment (bank account or card) for an automated payment, or allow them to indicate that they wish to provide a different source of cash. In the latter case, you can also switch them over to an alternate channel, e.g. a live agent or Web, to get the details on the additional source of payment. Customizing your processes, including training your agents to provide seamless service in these situations, are initiatives that will be well rewarded.

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