Podcast ¦ Collecting Thoughts: Using Data to Humanize Collections

Access the full podcast series here : https://blog.crsoftware.com/podcast-advanced-technology-for-collections-with-chris-hopkins

Summary: In this podcast episode, Eric Ferguson, an industry expert with over 30 years of experience in collections, discusses the transformation of collection operations through data-driven strategies. He emphasizes the importance of treating customers as individuals and using data to understand their response to different treatment approaches. By analyzing customer behavior and preferences, businesses can tailor their collection workflows and improve customer satisfaction. Ferguson also highlights the evolution of technology in collections, from the introduction of SMS and website self-service options to the use of incentives and personalized marketing offers. These advancements have resulted in increased efficiency, cost reduction, and improved long-term customer loyalty.

Key Points:

Treating customers as individuals and understanding their response t...

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