My Grandson Tristan has been on the internet lately visiting some of the “Would you rather” sites. If you are not familiar with them, they pose questions, such as:
• Would you rather freeze to death or burn to death?
• Would you rather be half your height or double your weight?
Some of them are funny and a high proportion are gross, just up the right alley for a young boy. It must seem sometimes to our customers that their choices are limited to two undesirable results. Some clients may be doubtful when we say we are trying to help them, but it is true.
They may see it as a choice between two evils, but my friend Blair phrases it much differently. His call starts something like: “Mr. Smith, my name is Blair DeMarco-Wettlaufer and I represent the Nordic Frabistat company. I’ve been instructed to take action that may affect your credit rating for the next six years. Would you prefer that I proceed?”
Almost without fail, the customer would not and they work out payment in full or arrangements.
We cannot force our customers to pay us, but there are real benefits for them to do so, we just need to point them out clearly and simply. We are, as Blair would say, ‘the unfortunate voice of consequences’.
Pithy quote of the month:
You made mistakes that put you in a deep hole. You have two choices: You can sulk in the hold forever or you can fight back and climb out.
P.S. Blair and I will be panelists on a webinar taking place on January 28th. It is free, but you do need to register.
Here are the details and a link –
A Spectrum of Techniques – Creditor to Third Party:
Many success factors in the Receivables Management industry are NOT universal – and some factors might even be contradictory depending upon your business goals. Which factors will bring YOUR company more success?
Join this webinar to engage these industry veterans as they present contrasting points of view and discuss key learnings on topics such as Negotiation Techniques, Collector Personality and Training. Bring your tough questions!
Thursday, January 28 from 2-3PM / Eastern (11AM-Noon / Pacific etc.)
Register at this WebEx link: