Call center agents dial out directly to consumers
Call center agents answer incoming calls made by customers
The outlook for outbound calling is quite dim, especially when we look at outbound calling to collect on delinquent accounts (see pie chart)
It’s not all doom and gloom. There is a light at the end of the outbound tunnel – inbound servicing and digital communications can turn recovery operations around (and we’ll show you how).
It’s not all doom and gloom. There is a light at the end of the outbound tunnel – inbound servicing and digital communications can turn recovery operations around (and we’ll show you how).
So what ARE the nails in the coffin for this classic business tactic in 2022?
Let’s start with today’s labor market…
Technology isn’t pushing people out. People don’t want outbound calling jobs.
In the wake of the Great Resignation, it’s never been harder or more expensive to hire—and hang onto—outbound call center employees.
Growth of average number of job openings in call, contact and customer care centers advertised on ZipRecruiter.com
While there’s no miracle cure for the labor shortage, digital solutions help offset the empty chairs and make the occupied chairs more productive, too.
But speaking of costly things contributing to the death of outbound calling
as we know it…
Call center wages have increased by 15%+ since the pandemic began, an astounding spike even when every industry is riding the wave of wage inflation.
But tackling the labor shortage and wage inflation are easier than you might expect…
Shifting from outbound calling to an inbound strategy leveraging digital communication methods to reach consumers resolves many of these current issues.
Cut down on the time billed for making repeated outbound calls that are never answered or returned
Inbound agents can handle more accounts because their time is concentrated with consumers who want to talk
Digital collection practices can reduce seasonal hiring and training of outbound call center staff
Now let’s look at regulatory compliance and consumer behavior…
Again, technology isn’t the downfall of outbound call-and-collect, but instead human nature itself.
The list of rules and regulations for outbound calling grows every year, especially for debt recovery and collection.
Now let’s look at regulatory compliance and consumer behavior…
Again, technology isn’t the downfall of outbound call-and-collect, but instead human nature itself.
Earlier, we looked at the dismal effectiveness rate for phone calls collecting debts due for more than 30 days, but take a look at an integrated inbound approach using multiple channels to interact with consumers.
TrueAccord is a full-service digital-first debt collection agency.