MAGIC^® of Collections

Every customer contact makes an impression.  The confrontational approach, which is based on win-lose contacts, is not effective for long-term results.  By focusing on relationships and win/win solutions, you will Make A Great Impression on your Customers™ and be more successful in collections.

Course Objective

To show employees how to succeed in collections by using a cooperative approach.

Course Content

The course focuses on the skills and attitude needed to be consistently effective in collections.  It begins with a brief review of MAGIC and then covers the following:

Personal Mastery

• Understand your locus of control
• Choose mastery over atrophy

 The MAGIC Approach to Collections

• Practice cooperative vs. competitive collections
• Identify the bargaining arena and prepare for a settlement
• Use the Five MAGIC Steps to Collections

Negotiating With MAGIC

• Understand the characteristics of an effective negotiator
• Practice active listening and persuade with benefits
• Handle objections and excuses with confidence What this means to you

What this Means to You

As a result of the course, associates will:

• use techniques that build trust and yield win/win results
• improve their ability to empathize and deal with different customer situations
• feel a greater sense of control and confidence

This will, in turn, lead to:

• improved collection record
• better control of delinquent accounts
• greater job satisfaction and reduced stress

Training Method

Each program is tailored to the specific needs of the audience.  We create company-specific skill practices with realistic bargaining arenas for participants to role play in class.

Using the 33 Points of Collections, we assess the recorded skill practices and provide specific feedback for improvement.  Participants measure their progress and hear the difference between "routine" and "exceptional.”

Duration

The course if two days in length and can be adjusted to fit client needs.