Did you know that you can easily supplement your existing internal collection process by outsourcing all (or part) of your overall decline management process to a Business Process Outsource (BPO) provider. For example, at First Credit Services we have built incredibly effective ways of communicating with past-due members and collecting their past-due balance quickly…, plus we promptly point the member back to our clients’ front desk for check in. Our Health & Fitness Clients truly appreciate our expertise when dealing with Member Service Issues.
No matter what, our research shows that most gyms can do much more to proactively speak with their members, and build a better relationship with members who visit the club less frequently.
By taking advantage of proven strategies, staffing, compliance, and technology, it can prove to be VERY cost effective to manage your declines more effectively through a qualified outsource provider like First Credit Services.
Programs can start right at the initial decline, or 15-30 days later depending on your internal resources. E-mails, Calls with Live Member Services Agents, Texting, Mailings, are all effective ways to keep in touch with lost members. Every consumer responds to different contact methods, so build a campaign that takes advantage of all these different possibilities.
Members really do want you to call them and tell them that you want them back… we can help facilitate the relationship! Gyms who show their past-due members that they truly value their patronage are always more successful.
The data and trend reporting available by a BPO is extremely valuable, and quickly leads to improved and more efficient use of resources. Most BPO’s can consistently achieve better results with a smaller staff.
“Consistency” is a key word here as well, since a BPO has the ability to maintain consistent results and has the ability to be much more flexible with its resources to ensure proper staff coverage without interruption. A BPO Client does not have to worry about personnel issues, absenteeism, vacations, technology, etc. and reaps the rewards of faster cash flow.
First Party Outsourcing, A/R Management, and Collection Policies should be a top priority if you deal with a high volume of declines each month.