Increasing Collection Rates on Continuity
Most of our revenue comes from $57/mo continuity programs, and recently we've hit a wall with regards to collections. We have a lot of banks (esp internatinoal, but national, too) who occasionally won't collect our payments.
Alternatively, sometimes people won't know what the charge is (or sometimes they do) and will tell the bank not to accept the charge, or spouses cancel it on their partner.
We realize that we may need to:
- Contact banks (via fax) and ask that they allow for the transaction because of the proof that we have of this client purchasing
- Call customers and ask them to pay remaining balanced on overdue account, which happens frequently with thousands of customers globally
What should we do here?
I'm thinking about hiring a call center or collections agency, but don't have experience in this field. ALSO - I am wondering how to (a) get banks to accept more charges (all are legit, of course, we are not crooks), and (b) get banks to re-up overdue charges FAST when they turn them down.
Anyone have experience in this domain?
Thanks so much,
- Daniel
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TheShark -
Thanks - 1 reply
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DanFaggella -
Thanks
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