How Has Landing a Commercial Debt Collection Client Changed Since We Started?
Written by Lee VandenHeuvel
Note: This blog is the first in a three-part series about the changes we have seen take place over the years in selling our services and in carrying them out.
Ross, Stuart and Dawson has been in the commercial debt collection industry for more than 45 years, having started in 1975 when the world was a very different place. In the past 20 years alone, the methods and practices we use to find clients and collect debt have changed dramatically!
To begin with, landing new clients is much different today than it was in the 90’s when I began selling in this industry. It used to be easy...make 120 calls a day, get three to four qualified face-to-face appointments, close three of them (if not all four), and life was good! Do that every week, and in three to five years, you’re making a six-figure income.
The story is very different today! For starters, not many people actually answer their phone anymore, due to the communication preferences of upcoming generations. Today’s workplace could house members of up to four vastly different generations under one roof, all with their own different communication styles and approaches to working. Veterans (born prior to 1946), Baby Boomers (born 1946-1964), Generation X (born 1965-1979), and Generation Y or Millennials (born 1980-2000) grew up in different times, have different values and employ conflicting communication styles. Typically, the older generations prefer talking face-to-face or on the phone, while the younger generations prefer text-based messages like email and instant message. This can become very frustrating when you attempt to communicate with someone in a mode that they don't like.
Today’s savvy marketer needs to be a master of technology, social media, web SEO, and more. A sales rep today needs profiles on multiple platforms such as LinkedIn, Facebook, Twitter and more. In addition, he/she must be active on social media sites and group exchanges. And yes, if all of these steps are done right, it may end up leading to an incoming prospect call on the good old fashioned telephone. However, more often than not, sadly, today’s deals are generally closed via email than in person or on the phone.