Credit-Based Customer Satisfaction Surveys
At Creditability® we believe the role played in business by Credit is not just in 'collecting the cash' or in managing cash flow. Credit's role in performing this function needs to be extended to the encouragement of Customer Retention and their Brand Loyalty.
The manner in which Collection Activity is performed needs to be professional, considered and measured in approach. Naturally it is important to eliminate or reduce the level of overdue monies and bad debt. When this is balanced with the proper administration of levels of Credit, account granting, role clarity and the adherence to agreed payment terms the performance of Credit becomes all the more important to the business.
Over a period of years Creditability® has developed a process for the calculation of a meaningful measure of the level of Customer Satisfaction with specific regard to performance of Credit and Collection activities.
We survey Customers that have received a recent Collection Call for an Overdue account. It is therefore to be expected that there would be a certain level of dissatisfaction. That said, the questions are carefully crafted to deal with the recent Collection Call and it's conduct, NOT that the Customer was 'happy' to receive a Collection Call or whether they are happy with their overall relationship with your business.
It is interesting what a Customer will disclose to a third party .... be sure you are listening to what they are saying.
The manner in which Collection Activity is performed needs to be professional, considered and measured in approach. Naturally it is important to eliminate or reduce the level of overdue monies and bad debt. When this is balanced with the proper administration of levels of Credit, account granting, role clarity and the adherence to agreed payment terms the performance of Credit becomes all the more important to the business.
Over a period of years Creditability® has developed a process for the calculation of a meaningful measure of the level of Customer Satisfaction with specific regard to performance of Credit and Collection activities.
We survey Customers that have received a recent Collection Call for an Overdue account. It is therefore to be expected that there would be a certain level of dissatisfaction. That said, the questions are carefully crafted to deal with the recent Collection Call and it's conduct, NOT that the Customer was 'happy' to receive a Collection Call or whether they are happy with their overall relationship with your business.
It is interesting what a Customer will disclose to a third party .... be sure you are listening to what they are saying.
|
The adjacent graph is a 'real-life' example indicating the improvements in Customer Satisfaction over a seven month period. The initial lift in satisfaction can be seen to be as a result of the Credit staff being made aware of the results of the first survey.
The later improvement came about as a result of coaching in the best way to prepare for Collection Calls, examination of options and having clarity of purpose. This improvement was NOT at the cost of an increased level of overdues - quite the contrary! |
|
.
