There is no doubt that Dialers have revolutionized our industry, much like the automobile impacted the transportation industry. Dialers allow an agency to churn through massive amounts of inventory quickly by filtering out busy signals, no answers, answering machines, and wrong numbers. The increase in right party contacts allows for collectors to spend the majority of their time doing what they do best, collecting money.
Now, let’s take a moment and think about an automobile. If not fed the proper fuel a car will cease to run efficiently and may even sputter to a complete halt. A dialer is not too different in that it needs the proper “fuel” to get to its destination – in our case, right party contacts which pay.
There are numerous ways that agencies build dialer campaigns and add this “fuel” to their dialers. Some may look at their entire inventory of accounts and order them by last work date while others may group them by balance. Those are both fine methods; however, maybe there is a better way. Consider for a moment that we want to fill our dialer with “premium” fuel so it can run at its maximum efficiency. What would that consist of? What if you were feeding your dialer with accounts that had a high likelihood of payment AND produced a higher yield per account?
When you utilize account profiling (scoring) with a dialer you are getting the best of both worlds. You are not only dedicating your precious resources in calling the best producing accounts, but also are getting through so much more of your inventory in a smaller amount of time than if you were not utilizing a dialer.
For example, an agency fueling their dialer with “premium” accounts may prioritize based on attributes such as medal score and age of account from placement. In a traditional model as accounts age, they would be dialed less often and eventually moved onto auto-message campaigns before being exhausted. In the “premium” model we also look at yield per account and propensity to pay – adding an important dynamic of dialing intelligence. Higher yielding and more collectable accounts receive the maximum amount of attended agent dials, while the lower yielding and less collectable accounts receive fewer attended agent dials but more agentless dials.
Is your dialer getting the premium fuel it needs to run smoothly and maximize collections? Or perhaps it’s time for a tune-up with Intelitech’s analytics and consulting. Contact us to learn all of the ways we can maximize your dialing strategies and improve results.