Collection Management Psychology
· The S-E-P-P Principle in Collections
· The 10 Keys for Collections Success
· Establishing a Collection Strategy
Understand the Customer
· Using DiSC Techniques
· Self-awareness
· Investigative
· People reading
Planning the Collection call
· Setting Call Objectives
· Your Telephone Voice
· Attitude - Inflection – Pacing
The Collection Call
· Getting by the gate keeper
· How to get by voice mail
· Reaching the decision maker
· Opening the conversation
· Controlling the call & the conversation
· Asking open-ended questions
· Questioning techniques to identify fluff
Collection Listening Skills
· Listening to understand
· Focusing on the message
Professional Portfolio Management
· Setting account coverage objectives
· Account coverage techniques
· Follow-up management
Handling Objections
· Managing communication gaffers
· Handle excuses with finesse
· Handling customer complaints
· How to overcome delayed tactics |
Influencing the Customer to Pay
· Influencing Factors
· Getting paid while maintaining Goodwill
· Getting Commitment
· Negotiating Techniques
Closing the Call
· Getting Promise Payment Commitment
· Tying down the commitment
· Recording the call
· Establishing Follow-ups
Collection Letters
· What to include
· What to exclude
· When to send letters
Hiring Collection Agencies
· When to hire
· How to hire the right one
· How to structure the agreement
· How to manage the relationship
Managing the Collection Stress Factors
· How to handle difficult customers
· How not to take it personal
· Managing emotions & stress
· Avoiding energy robbers
· Determining your desired outcome
· Problem solving
· Separating people from the problem
· Improving personal productivity
Legal Issues
· Legal rights and limitations
· Legal aspect in collections
· Collection laws
· Preferential payment
· Mutual release
· FDCPA Compliance
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