Coloring your collections, 2014 CreditScape, Western Region Credit Conference Seminar Slide Deck,...
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Diana Crowe IAB Solutions October 17, 2014 October 15-17, 2014 - CreditScapeConference.com - #creditscape Coloring Your Collections THE POWER OF PERSUASION
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Coloring Your Collections, 2014 CreditScape, Western Region Credit Conference Seminar Slide Deck, sponsored by Credit Management Association. More information: www.creditmanagementassociation.org
Transcript of Coloring your collections, 2014 CreditScape, Western Region Credit Conference Seminar Slide Deck,...
October 15-17, 2014 - CreditScapeConference.com - #creditscape
Diana CroweIAB SolutionsOctober 17, 2014
Coloring Your Collections
THE POWER OF PERSUASION
• Motivational Value Style (MVS)
We all do what we do in order to feel good about ourselves; that is, we act in order to satisfy our
needs (i.e. what motivates us)
In the credit and A/R world…Our Needs = Money
Review Common CharacteristicsBehaviorsValuesHow others perceive our styleWorking with other stylesCollecting from the colors
TRUE BLUES
TRUE BLUESAltruistic-Nurturing
LoyalFriendlyDependableEasy GoingSupportiveResponsiveCooperative
TRUE BLUES
Basic Value System
Genuine Concern for the Protection, Growth and Welfare of others with little thought of material reward in return.
Open and responsive to the needs of othersAlways looking for ways to be helpfulWant to make life easier for others and avoid being a burden.
TRUE BLUES
Difficult to determine what they truly want.
Negotiations challenging – not sure what their “win” is.
TRUE BLUES
Typical Behaviors
• Unhurried reactions• Maximum efforts to relate• Minimum concern for effecting change• Current time frame• Tend to reject conflict
TRUE BLUESIN SUMMARY
MAIN VALUE:
NEED:
SPECIALTY:
WEAKNESS:
People & Relationships
Stability
Support
Reluctance to Initiate Change
TRUE BLUESCollecting from Blues
Take note of any personal information they share (kids, vacation, pets, etc.) When you follow-up, ask!
Reds especially need to be careful – push too hard and a Blue will shut down, back away and, whenever possible, avoid your calls in the future.
Developing relationships with our customers is always important – with a blue, it’s critical!
RED HOTS
RED HOTS
Assertive-DirectingObjectiveDeterminedRequiringDecisiveIndependentPragmaticEfficient
RED HOTS
Basic Value System
Seek gratification through their concern for the accomplishment of tasks
They want to organize people, money, time and opportunity and any other resource towards that end.
They have a clear sense that through their accomplishments, they have earned the right to be rewarded for success.
RED HOTS
Typical Behavior
Swift ReactionMaximum effort to controlMinimum concern for caution in relationshipsImmediate time frameDirect actionTend to reject inaction
RED HOTS
Difficult to work with (can be a bit bossy at times)
Very “bottom line” driven…which sometimes leads to stepping on toes, etc.
RED HOTSIN SUMMARY
MAIN VALUE:
NEED:
SPECIALTY:
WEAKNESS:
Action
Results
Control
Don’t always listen orSeek input – simply act!
RED HOTSCollecting from Reds
Be Prepared! Have all your facts and information ready before you call. Get straight to the point.
Be Direct. Reds respect the bottom-line – deliver.
Note what form of communication your red responds best to: Email, Phone, etc. Utilize that format first. If response level changes, something else is typically going on.
COOL GREENS
COOL GREENSAnalytical-Autonomizing
IndustriousPersistentSeriousPreciseSystematicDetail OrientedExacting
COOL GREENSBasic Value System
Great concern for self-dependenceNeed assurance that things have been thought through and sorted out so meaningful order is achieved and maintained.
Objective and in control of their emotions.Cautious and thorough; fair and principledAlways want to think before they act.
COOL GREENSTypical Behavior
Slow reaction timeMaximum effort toward organizationMinimal concern for relationshipsHistorical time frameCautious actionTends to reject involvement
COOL GREENS
Difficult to work with due to long analysis time... hesitation to commit
Analysis Paralysis
COOL GREENSIN SUMMARY
MAIN VALUE:
NEED:
SPECIALTY:
WEAKNESS:
Thinking
To Be Right!
Details & Systems
Inability to Declare
COOL GREENSCollecting from Greens
Don’t skip on the details!
Emails are typically their preferred method of communication as it allows them to have and process the information without undue pressure.
Know when to escalate. Analysis paralysis can make it challenging for them to complete a review and set up your payment when there are disputes.
RAINBOWS
RAINBOWSFlexible-Cohering
ImaginativeEnthusiasticOutgoingFun lovingStimulatingAmbitiousSpontaneous
RAINBOWSBasic Value System
Open minded and willing to adapt and change
Like to know a lot of people and be known by a lot of people.Consider flexibility to be a key factor in their success
Concern for the welfare of the group, membership in the group and flexibility in pursuing group goals.
RAINBOWSTypical Behavior
Rapid reactionMaximum effort to involveMinimum concern for routineFuture time frameImpulsive reactionTends to reject isolation
RAINBOWS
Considered “wishy-washy” at times.
Greens consider them highly emotional.
Blues consider them highly demanding.
Reds consider them too sympathetic.
RAINBOWSIN SUMMARY
MAIN VALUE:
NEED:
SPECIALTY:
WEAKNESS:
Intuition
Approval
Social Skills
Not Checking
RAINBOWSCollecting from Rainbows
Potentially challenging as their color may change from contact to contact.
Because they change to suit the situation, you can opt to deal in your preferred style.
Remember their main need is approval, formulating your approach to recognize them for the value they bring to the trading partnership.
IAB SOLUTIONS
When Positive
GREEN18%
RED14%
RAINBOW22% BLUE
46%
IAB SOLUTIONS
When In Conflict
RAINBOW 6RED 13% BLUE 34%
GREEN 46%
RED - BLUES
Assertive nurturing types: Compete to win for the sake of others
RED-GREENS
Judicious Competing:Want to outwit the oppositionWithin the limits of the rules
BLUE - GREENS
Nurturing-AnalyticalWant to use their head to
Be of help to others
IN CONCLUSION Know your Color (MVS)
Learn to recognize the Color (MVS) of others
Use what you know to collect and communicate better!
