Empathy has been the buzzword in business this year and for some of you, it may have you shaking your head and wondering, What exactly is empathy and how does it apply to my business?
Empathy can be as simple as sensing how consumers are feeling about their accounts.Understanding even just the basics will help change the way your collectors relate to consumers when consumers enter calls with fears and frustrations.
Having a debt is a psychological and emotional burden, one that gets in the way of people living the life of their dreams.
Once I made that realization, I decided I wanted to help people feel good for paying their debt instead of bad for having a debt. In other words, consumers’ happiness became my new North Star.
I had tried many collection strategies before that – such as trying to sell the consumer on the idea of paying the debt – and I would fail because none of those strategies addressed the real issues which were the emotional effects of having a debt.
To read the full article by Mary, click here.