For many small and
The very first step before any collection call is to be prepared prior to
When making a collection call being professional cannot be expressed enough, especially when your customer becomes confrontational or defensive. Maintaining your professionalism during such a call can be difficult, so it is up to you to remain calm and keep your composure. If they are angry or irate listen to them! They may be trying to provide you with missing information or let you know you overlooked something. In the
3) Ask for Payment
This is the meat and potatoes of every collection call ever made, asking for the payment. Always identify who you are and from where you are calling and then ask for the money that is owed to you; if you do not ask for it you will not receive it. Be sure to advise your customer of the payment options available to them such as credit cards, cash, e-transfers, etc. If payment in full is not possible for your customer, you should negotiate a payment
4) Keep Your Mind Open & Stay Positive
There are many reasons why your customer may not have paid their account on time, some are excuses, but others could be legitimate. This is why it is important to approach a collection call with an open mind, you just don’t know what is going on in your customers’ world. Maintaining an open mind and a positive attitude will go a long way during a collection call. Remember you’ll catch more flies with honey than you will with vinegar.
5) Update Your Records
Take every opportunity when you speak to a customer to update their account records with new or additional information. Things like mailing addresses, phone numbers, and e-mail accounts are all things that can change frequently, and are easier to obtain from a customer when their\ account is in good standing. Maybe the reason that customer didn’t pay your invoice is that they moved and never received your invoice? This isn’t always going to be the case, but having up to date customer records can help prevent out of control accounts receivable from happening in the first place. There you have them, 5 Keys to making an effective collection call.
Remember they are Preparations, Professionalism, Ask for Payment, Keep Your Mind Open, Stay Positive and Update Your Records. By following this guide you’ll be a more effective collector and have more success in your pursuit of getting those overdue accounts paid!