Collecting is selling.(selected topic)

When I introduced my collections skills seminars to American audiences in 1987, I had no idea they would still be so relevant and popular 20 years later. When it comes to parting with money, human nature never changes and the skills required to diplomatically and resolutely convince customers to pay in a timely fashion are always in demand.

In short, collecting is selling. Successfully persuading customers to pay past-due bills when you contact them requires the same skills that were needed to convince them to buy in the first place. As with selling, collecting requires training to develop a personality and skill set that will impact the customer to agree to your point of view. Here are some examples of the skills needed to influence customers to pay quickly.

Confidence

The first and arguably most important component to a persuasive collection style is a confident personality, lust like their sales team, collectors need to project self belief when contacting customers. There are three keys to truly developing a confident approach to collecting:

1. Knowledge

Make sure you know all you need to before contacting customers who are past due. Know why they bought from you and what they like about your company; it will help you confidently engage them and ask for your money. Know why they are past due. Companies who don't pay on time do so for one of four reasons: they may be undercapitalized and therefore selective about when they can pay; they may be cash managers who control the flow of payments to fit the needs of their own system; they may have a dispute or a grievance with your company and are reluctant to pay until it is resolved; or they just might be unorganized and need to be reminded to pay. Knowing the reason for nonpayment will help you focus on the issue and find ways to resolve it.

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