The challenge

Weak processes and poor customer experiences impeded debt collections for our client, a global brand. Performance needed to improve to increase recovery rates and reduce operational costs.

At its core, the chief obstacle was customers’ lack of awareness of our client’s messaging platform, a convenient, cost-efficient channel for managing collections-related concerns. Underutilization of the self-service option forced reliance on more costly, time-consuming voice support involving multiple transfers between departments and manual interventions. Friction left customers frustrated. Client resources were strained, resolutions dragged out, and collections opportunities were lost.

Most consumers, 61%, prefer self-service over speaking with an associate for simple issues. However, they demand a seamless experience: 72% won’t reuse a chatbot after just one negative experience. Preserving CX was vital.

Our solution

TTEC analyzed client data to discover that a large portion of customers, 32%, were unaware of the features and functionality of the messaging platform on our client’s mobile app. Knowing consumers readily embrace self-service, we implemented proactive interactive voice response (IVR) that offered all callers the messaging option, so that fewer calls would be routed to live contact center associates.

Further analysis revealed that an astounding 85% of customers were unaware they could arrange payment extensions via the app. We added a notification system in the app that provided pop-up reminders of payment due dates. TTEC also implemented a calendar interface for payment extensions (up to six weeks), improved visibility to existing payment plans, and included a list of preferred payment methods available to customers.

Results

Mobile app customer messages increased an astounding 72% in the first year of the program. Voice volume related to promise-to-pay issues were reduced by 17% in just four months.

As a result of operational efficiencies made possible through increased use of the app and messaging platform, the client saved $81,000 in four months’ time.