Hi guys. In March this year I ran a debt collection training session for 62 small business owners and today had a webinar follow up with them all. In the 6 months since, every single one said their cashflow had increased which is awesome.
On the day, I taught them all 25 of my favourite statements and today had them rank the top 3 most effective. I thought I’d share the results with you all!
3. “If things are tough and you cannot pay the whole amount in one go please just say the word and let’s work together to fix this”. This one is awesome and it works because suddenly you are seen to be on the customer’s side. Once you have rapport, they literally will be putty in your hands.
2. “I need to make a decision today as it may be out of my hands at 5pm”. This one works because you have created urgency- the customer will always think the worst and come 5pm if they haven’t paid, they’ll assume you are going to sue or default them.
1. “We need a payment today, what is the absolute most you can pay?”- This one was a clear winner with 92% of them saying they used it and it worked.
Guys I really hope this helps you all. I know these statements work because I use them hundreds of times a day, but collecting money is what I do- I wanted you to all know that they will work for business owners like you guys too. Remember to put these statements in SMS and emails to your customers too
Cheers!