5 Ways to Improve Your Consumer Communication Preference Strategy

The CFPB’s Final Rule on Debt Collection (Regulation F) requires us in accounts receivable to focus on the consumer preference for communication. So, how can you ensure you are getting the information you need from consumers? And what counts as good consumer preference information anyway? Read on for a few simple steps you can take right away to optimize your consumer communication preference collection practices. Find out how you can improve your consumer communication, avoid bad outcomes, and get more - and more useful - consumer preference data.

1. Don't invite revocation

Soliciting the consumer’s preference via a telephone call, inbound or outbound, seems straightforward, but be careful. Some questions or scripts can lead directly to revocation. Consider the language you use in order to avoid unnecessary revocation of a specific channel or even communication in general, suggests Le’Nore Caldwell, Manager of Audit at Spring Oaks Capital.What does this mean? Take, for example, a question like this: "How would you like for us to communicate with you?" This question can easily lead to responses like, "not at all," or "I would not like to communicate with you." These are revocations and you don't want your questions to prompt them.