Over half of all customers will experience collections. So the customer experience you provide is vital to creating customer engagement that results in improved collection rates and ultimately, long term value.
Why Should You Care About Customer Service in Collections
70% of consumers say they’ve experienced having an account in collections. Current estimates show that number increasing with the existing cost-of-living crisis. So, if you deliver a bad collections experience, you risk losing customer loyalty and value across a significant share of your customer base. Alternatively, providing a positive experience when your customers need you most can increase loyalty, deepen the value of relationships and result in prompter payment.
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