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Flashback Collection Tips To Inspire You This Week: Part 1

I've written hundreds of blog posts over the years, and this week, I want to revisit some of the top blog posts that people like you have enjoyed. So sit back, relax, and prepare for some throwbacks. I wholeheartedly believe you'll find some useful tips to enjoy!

1. Three Things Consumers Wish Collectors Knew

This post was published on June 9, 2020. Here is a quick excerpt:

While I usually write these blogs from the perspective of a collection agency owner, this week I want to change things up and write from a consumer’s perspective.

Here’s why:

The best way I know to create massive success in the collection industry is to help consumers see collectors as allies who help them survive and thrive, instead of enemies who make them feel under attack

When a consumer sees a collector as an ally, he or she is more receptive to what the collector is saying and is more likely to take positive action like setting up a payment arrangement or paying the debt in full.

Click here to read the full post.

2. 3 Keys to Establish Credibility in the New Normal: How to Turn Chaos Into Opportunity

This post was published on September 1, 2020. Here is a quick excerpt:

The other day I was sitting in on a sales meeting with a prospective client – a small hospital – and I asked them if they had any roadblocks or concerns when it came to working with a collection agency.

They told me they recently had to fire two collection agencies.

One of the agencies they fired because their recoveries were too low – on a positive note, the hospital wasn’t getting any complaints from patients about this agency, but the recoveries were just not there.

With the other agency, it was the opposite challenge. Their recoveries were very high and so were the number of complaints coming in from patients about this agency. The high recoveries but low patient satisfaction wasn’t worth it in the end, this hospital felt. And as seen with the other agency, keeping patients happy and limiting complaints is important, but it can’t be at the cost of recoveries.

I’m telling you this story because…

As collection agency leaders, we need to acknowledge we are in a very different environment than we were before. Just as the pandemic has affected our industry, it has changed our clients’ industries as well. It’s likely that your clients and prospects will have some different needs and expectations as a result of the pandemic and are facing different obstacles than they were before.

3. The Art of Listening: 3 Ways to Become a Better Listener

This post was published on September 8, 2020. Here is a quick excerpt:

Any effective communicator must first and foremost be a good listener.

It’s not an easy feat.

When I provide communication training to businesses, I’ll ask them what communication strategy is hardest for them to implement. Oftentimes, they’ll tell me it’s the validation – making the people they’re speaking to feel heard and understood.

For instance, they’ll point out how hard it is to listen to someone who is saying something that doesn’t match up with your feelings about the situation.

It can be really challenging to listen to someone who is complaining, especially if the thing he is complaining about is you or your business.

You don’t have to agree with the person. You can agree to disagree. If you want to maintain the relationship and move forward, though, you have to know how to listen and make the person feel heard.

I hope you enjoyed this trip down memory lane as much as I did. Stay tuned for more flashback posts next week!

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