Engaging with customers immediately after they fall into arrears can dramatically increase the chances of recovering the amount owed and prevent any future financial distress.
However, our UK-based client was facing a significant challenge with telephone number quality, with up to 50% disconnected or connecting to an automated message, which was limiting contact success. The impact of these ‘bad’ numbers was not only contributing to operational inefficiencies for our client but, more importantly, was reducing the opportunity for them to connect with their customers in a timely manner to agree a suitable payment plan.
Our client was keen to understand opportunities for improvement and reached out for our support on an initial test sample of customer accounts.
Our solution focused on matching our client’s customer accounts to market-leading data sources to retrieve potential telephone numbers, which were then assessed against our in-house proprietary trace logic (LIMA) in order to identify the best contact number.
Where identified, telephone numbers were appended to customer accounts but, in order to validate their integrity, numbers were screened to remove any identified as non-working, ex-directory, or on our Stop list, thereby helping to reduce the risk of any negative customer impact.
In addition, and to provide our client with a start point for improving contact performance more broadly, customer addresses were also verified with new addresses appended, and all accounts additionally screened to flag potentially deceased customers.
• 5,000 pre-screened working mobile and landline numbers were provided to our client for use in their dialler; 40% of which were brand new to them, with 95% confirmed as ‘working’ at the point of dialler attempt.
• As a result of the test file performance our solution is now built into the client’s standard operational process on an ongoing basis. It is also supporting an uplift in recoveries performance as a result of their ability to more easily and successfully contact customers to agree a suitable payment plan.
• In addition, the solution is helping our client:
Improve the customer experience with a greater ability to engage with customers as soon as there may be an issue;
Reduce the risk of negative brand impact with access to the Right Party Contact details;
Explore options for additional improvement across their wider customer contact strategy through the provision of new customer address details.
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Get in touch
To find out more and to discuss your company’s specific requirements, please speak to our sector expert: Nick Ollard, Business Development Director, Nick.Ollard@lowellgroup.co.uk, Tel: 07825 103855