November 23, 2020

Omnichannel, the (Un)forbidden Fruit Given the new context, the omnichannel method will soon become priority #1 for each and every debt collection manager. The door is now open and the possibilities are endless. As the name suggests, omnichannel is a platform that can act as a virtual hub, integrating multiple channels of communication at the same time. The term was first coined by the marketing industry. Marketers would simultaneously deploy the same advertising campaign via multiple channels. They would keep a consistent message while adapting the creatives to suit the various channels. Thus, an omnichannel campaign would run TV and radio promos, paired with paid ads on social media and search engines. The immersive nature of this approach was so effective, that it quickly became an industry standard. Being a highly successful concept, omnichannel was imported and adapted to other industries too. As such, with the advent of the social media revolution, it soon became a vital component of contact centers across the world. Of course, the way it works for us (contact center professionals) is a little different, but the underlying concept remains. (If you want to learn more about the difference between omnichannel and multichannel, we have a special article on this very topic.) One of the key features of omnichannel is that you are able to manage multiple channels from a single dashboard. And this can be applied both in outbound and inbound campaigns. The overall principle is that communication transcends the limitations imposed by the channels we use. A true omnichannel platform is able to create a so-called immersive experience (both for agents and clients alike). Besides managing various channels, the omnichannel platform also keeps track of customer intelligence and status updates. Let’s have a quick look at what it means to deploy an omnichannel tactic as a debt collection agency. Debt Collection and the Omnichannel Client Journey For example, if a debtor initiates a self-service IVR procedure over the phone, the system will take note. Let’s say that at the end of this interaction, the client opts for receiving more personal debt information via email. Of course, an agent will then easily be able to send back the requested data via email. But what if the client has one more question and wants to get in touch with the debt collector agent? For example, let’s assume that instead of calling the agent, the debtor sends a WhatsApp message. After a back and forth messaging, the two settle for a call the next day to clarify the last details concerning a payment plan. The agent gets in touch at the agreed hour and closes the deal, getting verbal consent from the client. To recap, here is our hypothetical client journey: Initiate interaction with a self-service IVR procedure Receive debt information from a collector agent via email Contact the agent via WhatsApp Receive a call and settle for a payment plan A true omnichannel solution will record each and every touchpoint of this journey and keep track of every change in the client’s status.

Day: November 23, 2020

The FDCPA and the (Un)forbidden Fruit of Omnichannel