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Why
Negative Messages Fail |
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Debtors
use Caller ID to avoid your outbound collections calls,
and toss out your dunning letters unopened. Why? They already
know they’re past-due and don’t want another
stressful situation. Even when your outbound calls are
answered, customers are likely to be unresponsive. |
Customer
Positive Offers
We
reach selected debtors with good news about payment plans
that can get them back on track. These positive offers
drive high inbound phone response: often as high as 15-40%.
Customers call because they want to resolve debt, so these
inbound calls are twice as likely to result in a payment
vs. an outbound collections call.
We’ve
developed these communications based on 7 years of live
testing experience, and hundreds of hours of focus group
and one-on-one research. |
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| Did You Know... |
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Most debtors seek an honorable way out
and will favor the credit that’s most proactive about
offering them a solution. |
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Certain
key words and phrases work like magic with debtors:
for example: “You have options.” “We’ll work with you.” |
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Penalty
rates and fees have little deterrent effect
against late payment, and in fact, often push at-risk borrowers over the edge
into delinquency. |
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Delinquent
payers avoid plain white envelopes
they fear might contain dunning letters. Cheerful, colorful, promotional envelopes
work much better. |
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Settlement
offers pull the strongest response,
next highest are those promising an interest rate cut. Matching payment incentives
tend to be the weakest. |
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