A large portion of what I do on an everyday basis is what I consider “client relations.”  This may be with current clients, prospective clients or with my collection contacts throughout the collection world.  Client relationship basics are probably not a mystery to anyone, but the application of the basics in everyday practice is not easy.

 

The first two concepts that I apply with every client are good communications and a clear understanding of the client’s needs.  I make sure that every client knows who their contacts are at our Law Firm and I find out exactly who our direct contacts are at the client.  I also let my clients know that they can contact me at any time by email or cell phone. 

 

As a general rule, I call many of the clients myself; sometimes just to say hello.  Those personal touches usually can resolve any issue.  They also foster good will, an intangible but important building block of future business.  

 

Every client wants good liquidation rates, but most need more than that.  I make sure that my reports or EDI’s are exactly as my client desires, my communications go to the correct individuals on their end and my remittances are always on their schedule and in the form desired.  Good communications and good liquidations usually result in client satisfaction. 

 

The next two concepts that I attempt to apply with each client are straightforward honesty and creativity (i.e.. “Think outside the box”).  I make sure to inform a client when I cannot meet their requests and I immediately notify them if a mistake has been made.  This ensures that I never over promise and under perform. 

 

I continually consider how I can better serve my clients and make them a more profitable client for the Law Firm.  Thinking outside of the box can accomplish both of these goals.  Whether it is setting up a new EDI, imaging documents or offering some free services such as skip tracing or asset searching, you will not only satisfy your client; you will enhance your bottom line. 

 

I have found that one of the best venues for new business is “word of mouth” referrals from satisfied clients or valued business relationships.  I often seek feedback from our clients as to how we can improve our services.  I also ask if they have any other business opportunities in which we could provide service.  I always follow up with prospects and never take no for an answer.  I have these same discussions with my peers and other business associates.  I let them know that I am available to assist them in any way and that I am always looking for new business.  Many new opportunities have grown out of “going the extra mile” and maintaining an ongoing, open dialogue.     

                                                     

I enjoy visiting with clients and others in the collection business to seek out “new ways to skin a cat” or how to increase profit margins for a current client.  Good client relations can increase client satisfaction, profits, and generate more new business.  Client relations can be just as important as liquidations.  The terms are mutually inclusive - - you cannot have one without the other.  The challenge is applying the simple things that you already know to your client relationships.

 

 

 

 

W. Peter Ragan, Jr., is a partner in the law firm, Ragan & Ragan, PC and has managed their volume collection practice since 1998.  As the manager of the firm’s collection practice Mr. Ragan has direct daily contact with all of the firm’s current clients and is the face of the firm for any future client relationships.  Mr. Ragan earned a BS in Management and Marketing from Manhattan College in 1992, his JD from the Seton Hall University School of Law in 1996 and received a Masters Degree in Business Administration from Monmouth University in 2001.  He is a member of the New York and New Jersey State Bars and is also admitted to practice before the United States District of New Jersey, the United States District Court for the Southern District of New York, and the United States Third Circuit Court of Appeals.  Mr. Ragan is a member of the Commercial Law League of America (CLLA), National Association of Retail Collection Attorneys (NARCA), National Association of Subrogation Professionals (NASP), and Debt Buyer’s Association (DBA).