Did you know that listening takes up 45% of our day? As a Debt Collector, this should not surprise you, since building and maintaining relationships with your customers is one of the most important things. This requires LISTENING to them carefully!
But the skills of active listening have become a rare gift—the gift of time. As a result, you will make fewer errors and waste less time. This can, in turn, help you improve accuracy, build relationships, solve problems, and ensure understanding. But, what's the best way to get started?
Follow these 10 tips on how to listen effectively and improve your debt collection skills during a critical negotiation:
1. Write Down in the Form of Notes
Writing down in detail the points discussed during negotiation enables you to go back and refer to them later. Maintaining a written record helps you keep everyone on the same page. Without such a record, you run the danger of having two different versions of what was said and what was agreed upon.
2. Let The Other Side Reveal Their Position
Do not interrupt the other side. One essential aspect of negotiation that is too often overlooked is listening. The more the other party talks, the more you will learn. By letting them speak first about their interests, you can tailor your discussion to their particular needs, goals, and objectives, and hence, you save time.
3. Give Verbal and Visual Signals
It is important for the other side to give both verbal and visual signals during a negotiation. A common piece of advice on listening suggests encouraging listeners to remain quiet and nod encouragingly. Try to give verbal signs such as "I see." This one act can work as one of the major visual signals for a successful collections negotiation.
4. Show More Curiosity
Negotiation can only be effective when it goes both ways. Try to ask questions that instigate whatever they had mentioned, getting more information out of them. This small sign shows that you could reveal facts of interest. The best listeners are perceived to be ones who periodically ask questions that promote discovery and insights.
5. Use Expander Triggers
"Because? Why is that? And? What happened? Such as? How did that happen? When will that happen? Using expanded triggers encourages them to give more than just a single-sentence answer.
6. Deal With Ambiguities
Ask open-ended questions to allow them to get their insights, like, "When you said that you were dissatisfied with our product, can you provide us with the details of what exactly you mean?" "What can I do to assist you?"
7. Never Try to Negotiate With Yourself
Do not answer unasked questions. This may offer opportunities for a concession to the other side or show weaknesses. With the help of the other 6 points mentioned above, only try to respond to the points your customer has asked for or mentioned.
8. Generate Options For Them
Parties may decide to take an option prematurely and need to consider other alternatives. Narrowing their options to find one single answer may define the problem in win-lose terms, assuming that the only options are for one side to win and the other to lose.
9. Control the Negotiations Before it Begins
There is a risk that negotiations will not go as smoothly as anticipated. If delays or disruptions are expected from your side, inform and discuss them with your counterparts beforehand.
10. Paraphrase And Summarize
Repeating what has been said really shows you’ve been paying attention during the negotiation. This may seem awkward at first, but it really shows you’ve been paying attention, and allows the other party to correct you if you haven’t understood correctly.
Final Thoughts
There is no doubt that effective listening is one of the most effective weapons for a Collector during Collection Calls. Following the 10 tips outlined above can be the first step for you to deal with ambiguity, create a win-win situation and become the best negotiator in town!
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