Many collection agencies have mixed feelings about dialing technology. They know it helps their business, but spending the money puts them in a pessimistic, “the glass is half empty” kind of mood. In reality, when a dialer is used efficiently the return on investment can easily give you a “glass is half full” attitude. Let’s take a look at the advantages provided with a dialer.
First, think about the increased agent productivity realized by using a dialer in predictive mode versus manually dialing. An agent who is manually dialing will talk for about 15 minutes out of each hour. Use a true dynamic predictive dialer and talk time increases to about 45 minutes each hour. A 300% increase in talk time! What does this mean for your collections each hour, day, week, month? Do the math!
Second, remember how the dialer makes contacting without agents possible. Lately many have been gun shy about leaving automated messages. Provided you put the necessary safeguards in place, (consult your legal counsel!) this is a highly effective way of increasing payments, inbound calls and website traffic. IAT has several tools to help. Many agencies still use message blasting because they know it provides a significant increase to their bottom line.
Third, consider your dialer as a sales tool. This is something people rarely think about, but having access to dialing technology—either site-premised or cloud-based—shows you are a modern, state of the art collection company. Explain to prospective clients how the dialer increases agent productivity. Tell them about the increased contacting opportunities using automated messaging. Give them a tour of your offices and let them see the agents using the dialer. In short, use the dialer as proof you can handle the job they are looking to place.
Perhaps you could offer potential clients some contacts via automated messages in addition to your live call attempts. This value added service would cost very little and may be the difference between you and the guy down the street—the advantage that might win you a client.
This article was written by Paul