Hyatt Regency New Orleans
601 Loyola Avenue
New Orleans, LA 70113
Tel: (504) 561-1234
Thursday, March 15, 2012
A CASE STUDY WITH US BANK: INNOVATIVE CUSTOMER COMMUNICATION SOLUTIONS FOR COLLECTIONS AND RECOVERY
During the credit crisis many lenders and servicers learned that differentiated targeted communications to distressed customers added significant lift over traditional “one size fits all” collections communications.
A handful of best- in-class lenders have embraced these opportunities and used the slowdown in new account marketing during the credit crisis to obtain external support to greatly improve their collections communications. US Bank’s Retail Payment Solutions (RPS) Group is one of the pioneers in this area, as they made a single commitment in 2009 to communicate the right collections message to the right customers at the right time, using their preferred channel.
During this panel US Bank RPS Collections & Recovery Strategy and Marketing Executives as well as Bridgeforce and Quattro Direct will share how they all worked together to transition US Bank RPS Collections from a traditional aged-based / non-targeted (“one-size fits all”) collections and recovery communications strategy to a continuous targeted marketing approach with differentiated strategies for each customer segment and the types of results they achieved so far.
Topics to be discussed include:
- Clearly defining Collections Communications Principles (e.g., voice, tone, messages, and look and feel)
- Ensuring progressive and coordinated messages across channels that are consistent with collector work actions
- Strategies for getting started
- Establishing the proper experimental design structure to allow for rigorous champion / challenger messaging
- Roles and responsibilities within a continuous Collections Marketing Plan