The very nature of debt collection relies on communication between debt collection companies and debtors. In order to start collecting on an account and receiving payments, the company must provide a clear path to financial freedom for debtors. In turn, people with debt must be willing to make payments and communicate their financial circumstances.
Finding this balance can be difficult, especially considering the restrictions debt collection companies are subject to and the emotional and financial hurdles debtors must overcome. But there’s one communication method that works wonders for both parties and address these issues: ringless voicemail.
What is Ringless Voicemail?
Ringless voicemail is a marketing and communication medium that leaves voicemail messages directly in phone inboxes without initiating calls. Traditional calling involves putting in a phone number, making a call, and then leaving a voicemail; voicemail drop services skip this second step.
When it comes to debt collection, this has a whole host of benefits— but more on that later. What’s important is that voicemail marketing is a quick, easy to use, and effective way to reach out to people with debts.
What’s the Big Deal?
More often than not, people don’t answer the phone when an unknown number pops up on the caller ID. And to make this problem worse, people really don’t want to answer the phone if they think a debt collector is on the other side of the line. What makes ringless voicemail so effective is that it targets the underlying causes for the scenario above and provides a communication solution that benefits both parties.
For debt collectors and debt collection companies, using voicemail drop software offers the following benefits:
- Fast and far-reaching: With the right voicemail drop service, you can send up to 10,000 voicemails per minute. No matter how many debts you service, RVMD can handle the volume.
- Competitive pricing: Voicemail drop software comes with volume-based pricing and successful drop guarantees so that every company receives the best service for the best price.
- Saves time and resources: Sending mass voicemails lowers the cost of operations and outreach, saving companies money and collectors time without sacrificing effective communication.
- High open rates: Voicemail marketing has an impressive 96% listen rate, which is important especially in the debt collection industry. This is higher than any other contact method.
Ringless voicemail also helps companies stay in compliance. Calls must be stopped if they fall under the umbrella of an inconvenient time or place, but voicemails are not subject to that same restriction. They are compliant and convenient, which leads us into the benefits of receiving a voicemail drop for people with debts:
- Low-pressure: There’s no collector actively asking questions or trying to interact, removing pressure and reducing feelings of anxiety or embarrassment.
- Non-intrusive: People don’t have to worry about constant ringing or intrusive notifications that come with a phone call on top of the stress of dealing with their debts.
- Personal: Voicemails are more personal than a mass text or generic email, which is important to build trust and a working relationship.
- Empowering: Receiving a voicemail places the power back in the hand of the individual, giving them a choice in their plan of action to address their debts.
Ringless voicemail marketing benefits both debt collectors and people with debts in a variety of ways. It’s an adaptable and effective way to reach debtors and start collecting on accounts.
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Ways to Use Voicemail Marketing
Voicemail marketing is useful for every part of the debt collection process, from reaching out to establish a first contact on a new account to trying to prevent paying accounts from slipping into delinquency. You probably already have some ideas for how to use mass voicemail drops, but we’ve included a few suggestions of our own, as well.
Customize Payment Campaigns
Augment your current campaigns by sending out mass voicemails during specific times when people are more likely to be able to pay. For example, send out additional voicemail drops during tax refund season.
Send out Payment Reminders
After a debtor sets up a payment schedule, send out regular reminders to make sure the account holder doesn’t forget about an upcoming payment. Include important information, such as the date the payment is due.
Contact Unresponsive Debtors
Here’s where that high listen rate comes in handy. Contact unresponsive or hard to reach debtors via a voicemail drop. The probability that the debtor listens to the drop is bolstered by features like auto transcription and auto play on smartphones.
Provide Payment Solutions
For debtors that are looking to make payment arrangements and address their outstanding debt, you can provide a clear solution when you contact them via voicemail. Let them know how to start the payment process and become debt free.
Industries that Can Use Ringless Voicemail
Almost every debt collection industry can use ringless voicemail to reach out to people with debts and start collecting on accounts. All of the following industries can easily sign up with a voicemail drop service provider to start leveraging this powerful technology:
- Healthcare/Medical bill collection
- Student loan debt collection
- Business loan debt collection
- Mortgage debt collection
- Credit card debt collection
- Auto loan debt collection
So not only does ringless voice mail offer a multitude of benefits, it’s also adaptable for every sector of the industry.
Start Collecting with Ringless VoiceMail Drop
Debt collection is an undoubtedly delicate business, from staying in compliance with new regulations to dealing with emotionally fraught financial interactions. Alleviate stress for both parties and save time and money using a ringless voicemail drop service.
CDYNE’s VoiceMail Drop app lets you send up to 10,000 voicemails per minute across the nation. Our easy to use and scalable dashboard is compatible with mobile devices. We offer competitive, volume-based pricing so that you never pay for more than you need. And best of all, we offer a successful drop guarantee, so that you always know when your campaigns are successful and never pay for drops that didn’t go through.
Contact us today, and learn more about Ringless VoiceMail Drop and how easy it is to integrate into your debt collection strategies.