Simone Somekh
May 6, 2024
Hello! Welcome to Skit.ai. Click here to book a demo.
Hello! Welcome to Skit.ai. Click here to book a demo.
Buy Here, Pay Here car dealerships need to reach all of their active customers frequently and effectively. Conversational AI can help them do so in a scalable and cost-effective way.
Artificial intelligence is transforming the way car dealerships communicate with borrowers. Thanks to the use of interactive virtual assistants, dealerships are now able to automate intelligent, two-way conversations over multiple channels—voice text, email, and chat. This technology is emerging as a game-changer thanks to its cost-effective and scalable nature.
Based on data from our customers, we have seen that connectivity for a given set of accounts increases proportionally with retries. In other words, to boost connectivity, you should perform multiple follow-ups using Conversational AI.
Connectivity tends to peak at around 5 retries. The frequency and spacing of the retries can be programmed in compliance with TCPA requirements and state regulations.
The graphic below from a collection agency shows that, with 5 retries, the connectivity rate doubles.
Here are our tips to maximize your connectivity performance and boost revenue recovery:
Curious to learn more about how Conversational AI can enhance your collections strategy? Book a free demo with one of our experts.
What is IVR for Collections? IVR stands for “Interactive Voice Response,” a legacy technology that enables companies to automate both inbound and outbound calls. IVRs use a pre-recorded voice that interacts with consumers and guides them through a pre-set menu, which can be navigated by inputting DTMF (dual-tone multi-frequency) from the phone keyboard. Virtually everyone […]
For anyone working in the accounts and receivables industry, it’s unlikely not to have heard of Conversational AI for collections. Whether you’ve attended an industry event or visited an industry news site, you’ve likely encountered this technology. Many collection agencies and creditors across North America are adopting it to accelerate and enhance their collection strategies […]
