﻿{"id":11771,"date":"2022-08-02T06:27:32","date_gmt":"2022-08-02T06:27:32","guid":{"rendered":"https:\/\/klassacademy.com\/?p=11771"},"modified":"2022-08-02T06:27:33","modified_gmt":"2022-08-02T06:27:33","slug":"its-your-money-now-collect-it","status":"publish","type":"post","link":"https:\/\/klassacademy.com\/index.php\/2022\/08\/02\/its-your-money-now-collect-it\/","title":{"rendered":"It\u2019s Your Money \u2013 Now Collect It"},"content":{"rendered":"\n<div class=\"clear\"><\/div><div class=\"gdlr-space\" style=\"margin-top: 20px;\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Are collection calls challenging for you?<\/strong><\/h2>\n\n\n\n<div class=\"clear\"><\/div><div class=\"gdlr-space\" style=\"margin-top: 20px;\"><\/div>\n\n\n\n<p>Making collection calls is unlikely to be the highlight of anybody\u2019s day.&nbsp; In some cases, it takes people out of their comfort zone, and they will rely more on sending emails instead of picking up the telephone.<\/p>\n\n\n\n<div class=\"clear\"><\/div><div class=\"gdlr-space\" style=\"margin-top: 20px;\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>What does it take to be successful at collecting money by telephone?<\/strong><\/h2>\n\n\n\n<div class=\"clear\"><\/div><div class=\"gdlr-space\" style=\"margin-top: 20px;\"><\/div>\n\n\n\n<p>Here are some \u2018Golden Rules\u2019 to follow.<\/p>\n\n\n\n<div class=\"clear\"><\/div><div class=\"gdlr-space\" style=\"margin-top: 20px;\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>PLANNING \u2013 <\/strong>PROPER PRIOR PLANNING PREVENTS POOR PERFORMANCE<\/h2>\n\n\n\n<div class=\"clear\"><\/div><div class=\"gdlr-space\" style=\"margin-top: 20px;\"><\/div>\n\n\n\n<p>Your customers will generally fall into one of five categories.&nbsp; By looking at history (how previous transactions with them have gone, how long it has taken them to pay and why) you will have an idea into which category they are likely to fall:<\/p>\n\n\n\n<div class=\"clear\"><\/div><div class=\"gdlr-space\" style=\"margin-top: 20px;\"><\/div>\n\n\n\n<ol type=\"1\"><li>Bad Management<\/li><li>Dispute Feel Cheated <\/li><li>Deliberate Policy <\/li><li>Trigger Payers <\/li><li>Fraudsters (difficult to know)<\/li><\/ol>\n\n\n\n<div class=\"clear\"><\/div><div class=\"gdlr-space\" style=\"margin-top: 20px;\"><\/div>\n\n\n\n<p>Look at the facts you need to know about the amount outstanding, together with any notes from conversations.&nbsp; Can you negotiate to get them to pay in full now or will you need to consider a payment plan!?<\/p>\n\n\n\n<div class=\"clear\"><\/div><div class=\"gdlr-space\" style=\"margin-top: 20px;\"><\/div>\n\n\n\n<h2 class=\"has-black-color has-text-color wp-block-heading\"><strong>KEEP NOTES<\/strong><\/h2>\n\n\n\n<div class=\"clear\"><\/div><div class=\"gdlr-space\" style=\"margin-top: 20px;\"><\/div>\n\n\n\n<p>It\u2019s important you keep notes others can understand.&nbsp; These are vital to following up effectively.&nbsp; The agreed outcome or task to follow up on with customers should be logged.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<div class=\"clear\"><\/div><div class=\"gdlr-space\" style=\"margin-top: 20px;\"><\/div>\n\n\n\n<h2 class=\"has-black-color has-text-color wp-block-heading\"><strong><strong>IMPORTANT TO KNOW<\/strong><\/strong><\/h2>\n\n\n\n<div class=\"clear\"><\/div><div class=\"gdlr-space\" style=\"margin-top: 20px;\"><\/div>\n\n\n\n<ul><li>How long have they been a customer?<\/li><li>Who you are calling (Legal status and the right person)?<\/li><li>Have any queries been dealt with?<\/li><li>Are invoices correct?<\/li><li>How much do you want?<\/li><li>How much will you settle for?<\/li><li>Payment trends<\/li><li>Complaint history&nbsp;<\/li><li>Collection letters\/emails (Do they work for you?)<\/li><li>Credit rating (Grade your customers)<\/li><li>Other contacts (Your salesperson \u2013 their buyer \u2013 who can make payment happen in their company?)<\/li><li>Progress (are you making progress with the customer? \u2013 Orders, growth, payments)<\/li><\/ul>\n\n\n\n<div class=\"clear\"><\/div><div class=\"gdlr-space\" style=\"margin-top: 20px;\"><\/div>\n\n\n\n<h2 class=\"has-black-color has-text-color wp-block-heading\"><strong>POSITIVE ATTITUDE<\/strong><\/h2>\n\n\n\n<div class=\"clear\"><\/div><div class=\"gdlr-space\" style=\"margin-top: 20px;\"><\/div>\n\n\n\n<p>Your mental state will have a strong impact on how you deal with a customer and how they respond to you.&nbsp; Dial with a \u2018SMILE\u2019 don\u2019t phone with a groan.<\/p>\n\n\n\n<p>Positive people have a \u201ccan do\u201d approach to every situation. &nbsp;If you think you can or if you think you can&#8217;t, you are right. &nbsp;All successful people truly believe in themselves and in the reality of their goals. &nbsp;<\/p>\n\n\n\n<p>A positive attitude is contagious and when it is sincere, the people with whom you come in contact will relate to you and your collection activities with a vitality and positive attitude that causes a winning, successful business relationship.<\/p>\n\n\n\n<div class=\"clear\"><\/div><div class=\"gdlr-space\" style=\"margin-top: 20px;\"><\/div>\n\n\n\n<h2 class=\"has-black-color has-text-color wp-block-heading\"><strong>CONTROL THE CALL<\/strong><\/h2>\n\n\n\n<div class=\"clear\"><\/div><div class=\"gdlr-space\" style=\"margin-top: 20px;\"><\/div>\n\n\n\n<p>If you are going to be successful, you will have to manage the call in a way that puts you in control of the customer\u2019s response:<\/p>\n\n\n\n<div class=\"clear\"><\/div><div class=\"gdlr-space\" style=\"margin-top: 20px;\"><\/div>\n\n\n\n<ul><li><strong>Use their name<\/strong> \u2013 This shows respect on your part and commands attention.&nbsp; Full name identity makes it easier for you to get through and speak to someone.<\/li><\/ul>\n\n\n\n<ul><li><strong>Create a mood of cooperation.<\/strong>&nbsp; In other words, appear to agree in order to change.&nbsp; For instance, if they give the reason for non-payment being cash flow issues due to Covid, say, \u201cI can appreciate the difficulties that must be causing you\u201d or \u201cI can certainly see how difficult things are for you right now\u201d.&nbsp; Follow up with \u201cHow do you propose to pay please?\u201d<\/li><\/ul>\n\n\n\n<ul><li><strong>Listen carefully and take notes<\/strong>.&nbsp; You will get clues on whether they are serious about paying.&nbsp; You will also have ammunition for your follow up call and will be ready to counter any excuse they have tried before.<\/li><\/ul>\n\n\n\n<ul><li><strong>Ask questions<\/strong> \u2013 If someone is asking questions of you, who is in control of the call?&nbsp; Ask the right questions after your opening statement:<ul><li>\u201cIs there any reason why it hasn\u2019t been paid\u201d<\/li><li>\u201cWill it be paid today please\u201d<\/li><\/ul><ul><li>\u201cWho is it with for authorisation\u201d<\/li><\/ul><ul><li>\u201cHow much can you pay right now please\u201d<\/li><\/ul><ul><li>\u201cHow do you propose to pay the balance\u201d<\/li><\/ul><ul><li>\u201cWho is the most senior person available for me to speak with right now\u201d<\/li><\/ul><\/li><\/ul>\n\n\n\n<ul><li><strong>Stay focussed<\/strong> \u2013 Some customers will try to put you off by complaining, using anger as a ploy to upset you so you end the conversation.&nbsp; Be polite, validate their opinion, but always bring them back to the point of your call, payment of the money due to your company.<\/li><\/ul>\n\n\n\n<ul><li><strong>Use silence<\/strong> \u2013 Especially when you have a screaming or abusive debtor.&nbsp; Stay calm, let them blow off steam then remind them, you cannot help to resolve the situation while they are yelling.&nbsp; If it doesn\u2019t work, say something like, \u201cCould you just hold a moment?\u201d&nbsp; Put the telephone down for a few seconds, picking it up again saying \u201cI\u2019m back\u201d.&nbsp; A few seconds of silence will often calm the angry person down.<\/li><\/ul>\n\n\n\n<div class=\"clear\"><\/div><div class=\"gdlr-space\" style=\"margin-top: 20px;\"><\/div>\n\n\n\n<h2 class=\"has-black-color has-text-color wp-block-heading\"><strong>BE FLEXIBLE<\/strong><\/h2>\n\n\n\n<div class=\"clear\"><\/div><div class=\"gdlr-space\" style=\"margin-top: 20px;\"><\/div>\n\n\n\n<p>You can\u2019t win them all and there is no magic wand.&nbsp; Every customer is different what works well with one may not get you anywhere with another.&nbsp; Carefully listen and you will pick up clues on how to deal with each situation.<\/p>\n\n\n\n<div class=\"clear\"><\/div><div class=\"gdlr-space\" style=\"margin-top: 20px;\"><\/div>\n\n\n\n<h2 class=\"has-black-color has-text-color wp-block-heading\"><strong><strong><strong>GET COMMITMENT<\/strong><\/strong><\/strong><\/h2>\n\n\n\n<div class=\"clear\"><\/div><div class=\"gdlr-space\" style=\"margin-top: 20px;\"><\/div>\n\n\n\n<p>Ideally, payment in full today!&nbsp; If this is not possible, get some commitment from the customer to pay soon or do something.<\/p>\n\n\n\n<div class=\"clear\"><\/div><div class=\"gdlr-space\" style=\"margin-top: 20px;\"><\/div>\n\n\n\n<h2 class=\"has-black-color has-text-color wp-block-heading\"><strong><strong><strong><strong>KEEP UP TO DATE<\/strong><\/strong><\/strong><\/strong><\/h2>\n\n\n\n<p>It\u2019s important you keep up to date with:<\/p>\n\n\n\n<div class=\"clear\"><\/div><div class=\"gdlr-space\" style=\"margin-top: 20px;\"><\/div>\n\n\n\n<ul><li>Technology<\/li><li>Software<\/li><li>The Legal System<\/li><li>Insolvency Legislation<\/li><li>Cash Collection Techniques<\/li><\/ul>\n\n\n\n<div class=\"clear\"><\/div><div class=\"gdlr-space\" style=\"margin-top: 50px;\"><\/div>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">Would you like to know more about these techniques? <\/h2>\n\n\n\n<div class=\"clear\"><\/div><div class=\"gdlr-space\" style=\"margin-top: 20px;\"><\/div>\n\n\n\n<p>Register to our <a href=\"https:\/\/klassacademy.com\/index.php\/workshop-london\/\" target=\"_blank\" rel=\"noreferrer noopener\">Powerful Cash Collection Techniques training<\/a> London, 14th September 2022<\/p>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><a href=\"https:\/\/klassacademy.com\/index.php\/workshop-london\/\"><img fetchpriority=\"high\" decoding=\"async\" src=\"https:\/\/klassacademy.com\/wp-content\/uploads\/2022\/08\/london-training-event-1024x535.png\" alt=\"\" class=\"wp-image-11772\" width=\"840\" height=\"438\" srcset=\"https:\/\/klassacademy.com\/wp-content\/uploads\/2022\/08\/london-training-event-1024x535.png 1024w, https:\/\/klassacademy.com\/wp-content\/uploads\/2022\/08\/london-training-event-300x157.png 300w, https:\/\/klassacademy.com\/wp-content\/uploads\/2022\/08\/london-training-event-768x401.png 768w, https:\/\/klassacademy.com\/wp-content\/uploads\/2022\/08\/london-training-event.png 1109w\" sizes=\"(max-width: 840px) 100vw, 840px\" \/><\/a><\/figure>\n\n\n\n<p>Contact <a href=\"mailto:steve.savva@klassacademy.com\">steve.savva@klassacademy.com<\/a> for details or call +44 (0) 7881 805615<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p><a style=\"color: #a4a4a4;\" href=\"https:\/\/klassacademy.com\/index.php\/2022\/08\/01\/its-your-money-now-collect-it\/\"> Making collection calls is unlikely to be the highlight of anybody\u2019s day&#8230;<\/a><\/p>\n","protected":false},"author":50,"featured_media":11790,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[177,198],"tags":[42,169],"table_tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>It\u2019s Your Money \u2013 Now Collect It<\/title>\n<meta name=\"description\" content=\"Are collection calls challenging for you? 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