Credit Todays Collection Training - Collect Y . . .
Credit Today's Collection Training - Collect Your Accounts Receivable Faster and With More Confidence Than Ever!
If you're interested in the best collection training anywhere, you've come to the right place!
But first, we'll start by asking a question.
What do you think might be the most important skill of a collector?
A bulldog, never-say-die attitude?
Important, sure, but not at the top.
A thick skin?
Well, that's probably important, sure, but no, that's not the MOST important.
OK, here it is: the most important skill of collection work -- and something you'll rarely hear about -- is the ability to truly listen.
So right away, perhaps that's a sign that this training is likely to be a bit different.
And that's what we want. You won't find training like the rest here. You can't be the best by doing the same thing that everyone else is doing!
But on to our training...
Listening Skills Covered Right Off...
Do you know the 10 deterrents to effective listening? And why poor listening skills are often the cause of poor collection performance?
Listening - REAL listening - is one of the core concepts and skills covered in our training seminar. (In fact, if you're the boss, it would undoubtedly be worth the price of admission just to pick up the pointers from this all-important section of the seminar.)
So we'll start right off with our listening self-assessment, which quantifies your collectors' listening skills. They'll find out exactly where they stand -- superior, above average, average, or fair. The test will also:
- Give immediate feedback on their listening accuracy
Graduates of Credit Today's Collection Training Program are better listeners, and that means faster collections, lower DSO, and higher customer satisfaction.
- Provide an instrument for listening evaluation
- Motivate participants to work on their listening skills, and
- Demonstrate the need for listening improvement
Your staff will learn our tried and true principles underlying all collection actions, and why they work so well, including:
- the 5 key principles necessary to be an effective collector.
- the 5 specific types of collection calls, along with how to navigate each type.
- the 4 key elements of the "first contact" with a customer.
- the 6 keys to ensure success in a friendly reminder call
- ways to test your customer's intentions; and
- your primary fallback if you can't get money right away.
And we'll cover the 3 most common delinquency call problems:
- Promises of payment
- Left message / voice mail situations
- Requests for further documentation
. . . And the specific steps to take to handle each situation.
Mirroring: A Listening Skill
We also cover the concept of "mirroring" the customer -- why it's so important to success in collections, and specific steps to help develop the skill.
One of the most unique elements of our training program is the role-playing exercises we'll put your collectors through. We'll help them hone their skills in many real-life issues collectors face. During these exercises, collectors will have the opportunity to observe and discuss the interaction, and we'll highlight what was most important, what went well, what didn't, and why.
In addition, our training will teach your collection staff the five key principals to follow when a partial payment is set up. (This brief series alone will likely more than pay for the training!)
Also: how to turn a "vague promise" into a commitment, including specific steps that should be followed.
"The check is in the mail"
Of course, even in today's high tech world, everyone's familiar with the old joke about "the check's in the mail! Well, it's actually still something your collectors here. We'll cover the four steps they should take whenever they hear this, along with the specific order in which they should take them.
Broken Promises -- We'll cover exactly what steps should be taken to handle a broken promise -- both the first time that happens, and the second time.
Leaving Messages: Developing Best Practices
Unfortunately, voice mail makes reaching customers, especially delinquent ones, harder than ever. No one's immune! So we've designed a specific module, including role-playing, to cover this collection challenge.
We give trainees specific steps for leaving messages, whether they're dealing with a live person or voice mail. We'll give the tools to succeed and then have participants practice the skill.
In addition, our training and follow-up with role playing will develop skills covering the following situations:
- Requests for documentation (how to "narrow the issues" and control the situation)
- When a customer claims an inability to pay
- Handling an irate customer (we'll give your collectors the skills needed to stay calm, control the conversation, and preserve goodwill in this situation!)
- Handling disputes, be they invoices not received, amount (hint: our 6-step plan starts with listening!)
Roll up Your Shirt Sleeves and Practice
Remember, it's one thing to sit and passively in a training session.
Our seminars are always active, working, roll-up-your-shirtsleeves sessions where your collectors get the opportunity to practice their new techniques and get immediate feedback.
Sure, that's helpful.
And that's what most training sessions amount to.
But it's a huge step up in effectiveness when you and your collection staff get the opportunity to roll up their shirt sleeves and practice in real, live, role playing scenarios.
And once they've practiced, they'll be critiqued by their peers and us. So the learning experience is much deeper. That's what you'll get in our training.
Negotiations: Another Foundation Skill Required For Excellence in Collections
In addition to listening, negotiation skills are one of the foundations of great collections.
Great collectors must be great negotiators. Simple as that.
So we devote considerable time to teaching and practicing negotiation skills for collectors, and your collectors will learn:
- 6 "gambits" for successful negotiations
- The goals of any negotiation (hint: BOTH sides should feel good about the result)
Develop a Customized Set of Responses to Stalls and Objections at Your Company!
We'll devote considerable time to overcoming stalls and objections. In fact, we'll cover the difference between the two. And we'll help your staff brainstorm a matrix of answers unique to your specific situation.
We'll also cover final demand calls, including the principles surrounding them along with the specific steps that should be taken and why.
Finally, your collection staff will pick up our "Collector's Tool Box," with…
- Tips on writing effective collection letters
- Overnight delivery services
- Advice on post-dated checks and promissory notes
- Easy-pay websites & ways to facilitate payment by wire
Our Training . . .
- Grounded in the fundamentals
- Specific best-practices secrets revealed
- Taught by the nation's leading expert
- Bolstered with extensive role-playing and practice
If you're interested in improving your collection productivity, reducing DSO, improving customer service, and developing happier collectors please call us at 540-343-7500 or email RobL@credittoday.net.