Empowering Agents with Consumer Analysis

Agent success is comprised of two factors:

1. Connecting to the consumer on their level, and
2. Providing a mutually beneficial resolution to their debt.

Operational processes and procedures support an agent’s efforts to move the consumer towards debt resolution, accounts-receivable software provides agent’s with the account details necessary to negotiate payments, protocols tell them how to resolve issues, and compliance training gives them guidelines for interacting with consumers.  Yet, rarely is there training or implemented procedures that are designed to support agents in consumer engagement; that component of agent success relies heavily upon personal finesse and a bit of luck.  Unfortunately, it is the connection with consumers that most often leads to a faster debt resolution and return on investment for the agency.  Technology offers a solution that equips agencies with the tools necessary to conduct in-depth consumer analysis…

The VoizTrailⓇ Communication and Compliance Suite features a dedicated behavioral science module that utilizes the features of speech analytics to create detailed consumer profiles.  The module provides behavior analysis for every consumer interaction, allowing agencies to group their contacts into consumer ‘types’ for a more targeted approach.

Meet Susan:

Susan has a medical bill from a year ago in collections. She was hospitalized as a result of a terrible car accident which destroyed her vehicle and put her out of work.  Upon her first contact with the agency, she expressed that she could not pay. She was reluctant to set up a payment plan and told the agent her husband had recently been laid off.  She speaks in short bursts with the tone and pitch of her voice fluctuating greatly. Interactions with her are strained and include a lot of over-talk.

Analysis results and targeted strategy:

Based on the emotional and keyword data provided by the VoizTrailⓇ Suite, the agency categorizes Susan as a “Hard-Luck” consumer.   The agency’s strategy for this consumer type is connecting through empathy.  The strategy includes informing agents of the details of the consumer’s situation prior to the call, acknowledging and extending empathy for their specific situation, employing active listening, adopting a team attitude towards their debt resolution, and using hopeful language.

“We can get this account under control.”

“We are going to take this off your plate.”

“Let’s find a payment plan…”

“Auto pay makes it easy then you won’t have to worry anymore…”

“I’m here for you.”

“We will get through this together.”

By developing custom strategies based upon the consumer’s preferred communication style, while using collection tactics with proven results for a specific behavioral type, agencies can empower their agents with the greatest opportunity for success.  The VoizTrailⓇ Suite offers endless opportunities for customization, letting agencies formulate strategies and target behavior types as it best suits their clientele.