In our preceding article, we saw how Mr. Noa lost his customers as a result of incorrect debt recovery tactics. Recovering can be very dicey at certain times, a lot of time and planning needs to be invested into it. Debt recovery per say is not wrong, but the approach is what makes a world of difference. Customers serve as key brand ambassadors. So, if you treat your customer right, you will reap the benefit tomorrow.
Customers promote your business through recommendation. Word-of-mouth advertising is where satisfied customers share their experience with other people about your business. This type of advertising happens naturally. Customers are more likely to recommend your business based on an exceptional experience they had when interacting with you and your brand. It creates an indelible image in their minds and they remember you long enough to refer someone else to you.
As we asked in our previous write up “Must you bring down the hammer on a debtor who owes just because he or she had not paid his debt for a while? Or on a loyal customer just because he/she is a little late with a payment? Your relationship with client turns adversarial the moment you descend on a customer for payment. You can even lose a good customer. Nevertheless, you still have to recover, but take a lot of things into consideration when taking action.”
Mr. Noa lost his customers due the heartless behavior towards his debtor. The debtor could have lost his life during the fight. What Mr. Noa should have done was to be patient with the debtor and understand why he had not paid his debt. Or he could have focused on selling to the customers buying with cash and later trace the debtor for his money. To reason with Mr. Noa, he thought he might not see the debtor again if he should let him go. This is the main reason why Capital Factors and Debt Management Services is here to help you focus on your business whilst we professionally do your recoveries for you.
Call us if you don’t want to be on a sinking ship like Mr. Noa, 0577674763, 0577669030,0577669039, (+233)-302 670 991 / 302 674 697 or via our social media handles.
If you find it hard to pay your debts or recover your debt, you may need to get help from Capital Factors and Debt Management Services.
WRITTEN BY: Ms. Alberta Arhin
Capital Factors and Debt Management Services.