CCM Debt & Collection Experience Survey 2020
IS YOUR COLLECTION STRATEGY DOING MORE HARM THAN GOOD?
For decades, collection agencies have taken a forceful, aggressive approach to debt collection. Not only is this ineffective in recovering revenue long-term, it’s also damaging to customer relationships and risky for your brand. With the economic impacts of COVID-19 worsening financial standings for many Americans, the need for a new approach to revenue recovery has never been greater.
That’s why CCM conducted the Debt & Collection Experience Survey. Our poll was designed to understand consumers’ personal debt and their experience with collectors, before and during the coronavirus pandemic. Here’s what we found:
KEY FINDINGS
UNDERSTANDING THESE INSIGHTS
Americans’ financial outlook is strained. Many were struggling with their personal finances before the COVID-19 pandemic, and the extra pressure brought on by economic shutdowns has put a serious strain on business owners and consumers alike. Customers’ negative experiences with debt collectors has put companies in danger of damaging their brand and leaving revenue uncollected. The need for an empathetic, solution-oriented approach to debt collection has never been greater. Learn how your business can adopt this approach below.
SEE HOW CCM CAN HELP YOU
See how Capital Collection Management is helping both business owners and their customers have a positive experience overcoming debt collection issues with their consultative, people-first approach at CapitalCollect.com.
UPGRADING YOUR COLLECTION STRATEGY
The role of technology in revenue recovery during COVID-19
Without a guaranteed end date for the pandemic’s economic effects, businesses are in a unique position to modernize their collection practices in real-time while helping customers overcome their financial hurdles.
Compassionate problem-solving: the new collection strategy you can’t ignore
There has never been a better time to implement a new approach to collection–one rooted in empathy, collaboration, and problem-solving.
How would your customers rate your collection process? Your revenue depends on it.
From beginning to end, your customers’ experience with your debt collection team can affect your brand reputation. Simple adjustments in approach as well as investments in modern technology will benefit you now and in the long run.
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Corinne Glavitz joins CCM as controller
Corinne Galavitz joined CCM as controller. Corinne will be responsible for managing cash flow, ensuring proper accounting, and working with leadership to ensure CCMs financial health.
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TALK TO AN EXPERT ABOUT YOUR COLLECTION NEEDS
Retain your customers, protect your brand, and collect the money you’re owed with Capital Collection Management’s revolutionary people-first approach to debt collection. CCM helps your customers find long-term payment solutions and offers a full suite of solutions designed to drive more revenue, decrease overhead, and alleviate administrative burden throughout the accounts receivable lifecycle.
866.272.4035
Read the latest news and coverage related to the Debt & Collection Experience Survey.
The study was fielded July 21st-22nd, with a representative U.S. sample of 1,091 adults, ages 18+. The sample has been balanced for age and gender using the Census Bureau’s American Community Survey to reflect the demographic composition of the United States.
© 2020 Capital Collection Management
For a free consultation contact:
Al Canal, President of Global Sales
alistaircanal@em.capitalcollect.com
TALK TO AN EXPERT ABOUT YOUR COLLECTION NEEDS
Retain your customers, protect your brand, and collect the money you’re owed with Capital Collection Management’s revolutionary people-first approach to debt collection. CCM helps your customers find long-term payment solutions and offers a full suite of solutions designed to drive more revenue, decrease overhead, and alleviate administrative burden throughout the accounts receivable lifecycle.
Al Canal
President of Global Sales
alistaircanal@em.capitalcollect.com
KEEP IN TOUCH WITH CCM
Leave your info to stay connected with all the latest from CCM and our team of collection experts.