Get paid faster using text messaging for debt collection
Ensuring your customers pay on time is easier said than done. Late payments can cost your business a staggering amount, and no one likes the debt collection process - not your customer and certainly not you!
Debt collection doesn't have to be hard.
SMS allows for direct contact with your customer and gets you paid faster. Phone calls go to voicemail, emails land in a junk folder or deleted, but your text message is read. SMS v EMAIL: You are twice as likely to get paid within seven days when sending a text message1.
| 35% |
53% |
|
35% of customers paid within 3 days
of receiving a text message.
|
53% of customers paid within 7 days
of receiving a text message.
|
Benefits of using SMS for debt collection
- Save time. How long does it take to make 10 phone calls? How many texts can you send in the same amount of time?
- Get higher response rates. More than twice the number of customers paid within 7 days.
- Know that your message is received. Request status shows if your message was received, rejected or failed.
- Cost-effective. A text message costs 10¢.
- Texts create a sense of urgency. Creating urgency helps get you paid faster.
SMS messaging features
|
|
|
|
|
Schedule Texts
Schedule your text messages to be sent at a future date and time that is industry compliant.
|
Automate Reminders
Send a series of texts over a period of time. For example payment reminders.
|
Templates
Create SMS templates so you aren't rewriting the same message over and over.
|
|
Payment Reminder
Help your customer never miss a payment by sending automated text reminders before their bill is due. These payment reminders are cost-effective and quick to send.
|
|
Missed Payment Reminder
Sometimes your customers miss a payment. Maybe their credit card on their account was lost or stole, or they simply forgot. Send them a gentle reminder that there is an outstanding amount owed.
|
|
Send Useful Information
Send text messages conveying information beyond outstanding debts and make it easier to collect payments. For example, setting up payment plans.
|
Ask us about SMS messaging for debt collection
and drive success for your collections team
1. Utilmate database extract for period January-April 2020.
