Friday, June 26, 2015

Your Net Promoter Score and the Debt Collections Process

Many businesses are concerned with their net promoter score (NPS). This score is simply a measure of how loyal customers are to a particular company and/or brand. The higher your score, the better your standing as a business typically is. A variety of factors can affect your NPS. One of the most 
affecting factors that commonly surprises people, however, is how the debt collections process is handled.  

When you really think about it, it makes sense. If debt collectors are rude, invasive and threatening, clients aren’t likely to feel very good about the company or about dealing with it again. With the right debt collections service, however, not only can debts be recovered, but customers can be left with a favorable impression of your company.

Unhappy Customers

A good debt collections service will, upon first contact with the delinquent customer, express concern, rather than anger, over the unpaid bill. There could be a number of reasons why a bill hasn’t been paid, and asking why, instead of demanding payment, can make a big difference to customers and to your NPS.

If customers report that they haven’t paid due to dissatisfaction with products or services, debt collectors can find that out, handle the problem themselves, or report the problem back to the business for further instruction. If the problem is handled in a manner that is satisfactory to the client, not only will his bill likely be paid, but that customer can also return to being a loyal and satisfied client.

Research-Backed Approaches

It’s also wise to choose a debt collector that works hard to understand customers. Quality debt collections services will actually look through information that has been collected on delinquent customers and then group customers based on the approaches and tactics that are most likely to work with them.

This way, every customer gets a personalized approach, you have a higher chance of receiving the money you are owed, and your business’ NPS is likely to get better. Talk about a win-win situation.

Sending a customer to debt collections doesn’t have to mean you’ve lost that customer’s business forever. Things happen in life, and the important thing is that, through the debt collections process, your business comes across as understanding of that fact and willing to help customers get back on track.

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