When I was 14, I started my first job as a telemarketer for a photography company. That started decades of a career in sales and marketing. My longest stint was 20 years as the National Sales and Marketing Manager for a multi-billion-dollar manufacturing company, so you can imagine that the transition to understanding the mechanics of the debt collection industry was worlds away from what I was accustomed to. The difference is that I’m not selling products anymore, I’m selling a service. I am still learning this industry every day, but the thing that puzzles me most is the mysterious disappearing client. Let me explain.
My responsibilities as the Director of Sales and Marketing are to gain new clients most importantly, and secondly to produce and manage the marketing efforts. Part of gaining new clients requires calling on prospects, i.e., doctors, dentists, banking managers, leasing offices, business owners, etc. When I do reach someone that is either in desperate need of a collection agency or shopping for a new agency, often they are “gung-ho” and read to fight the battle of recovering their hard-earned money.
What happened? We established competitive rates, we signed the contract, we have great rapport, and then, nothing. I call to check on them, they say they’ve just been so busy and that they have the accounts ready to send, and then they never do. Months go by and we talk periodically, they say that they’ve made changes in personnel and this has caused a delay, but they’ll “do it this week”. And guess what? Nothing.
All the while, their delinquent accounts are getting older and older, and thus becoming harder and harder to collect. Because of their negligence in sending their accounts they are leaving thousands of dollars on the table, all because they fail to make time to send them.
Sending accounts to be collected is as simple as a fax, an email, or an upload to an FTP site. But still, it’s put on the back burner. It is disheartening to know that the missing piece is a collaborative effort between my clients, our office and our collection agents.
I’m reminded of the Nike slogan “Just Do It”. Don’t be the mysterious disappearing client. We can’t help you if you don’t help us. We genuinely care about our clients and want to see them thrive!
For more information on how Account Resolution Team can help YOU get your money, call 423-586-7613 or visit www.accountresolutionteam.com