Sending Interactive Collection Messages to Consumers

Matt Edmunds at SoundBite wrote a interesting piece about the cost benefits of voice alerts and interactive messages:

“How can companies maintain their contact rate metrics and increase collection rates in their existing campaign strategies? Design a strategy that includes channel blending as your secret sauce.”

Of course, voice alerts and interactive messages – like texts or emails – can still be a bit of a risk for collection agencies. Any agency would always want to have explicit permission from the consumer to contact her through text and/or email. But Edmunds shared a lot of interesting data points:

  • Direct mail response rates are in the low single digits.
  • Emails have higher open rates at around 20% according to the DMA.
  • SMS/Text open rates are over 98%.
  • The US is 104.6% mobile phone penetrated
  • 31.6% homes being wireless only