Work smarter, not harder to engage better and recover faster with Retain by TrueML Products.
Whether you’re a service provider, lender, or any business with important communication goals, your 2025 operations budget can go farther by optimizing your delinquent customer communication strategy with Retain. Automating digital communications to reach your customers when and where they are most likely to engage can reduce operating costs while increasing your repayment rates and profits.
1. Re-focus FTEs on business growth, initiatives, and goals
Consider the opportunity cost when full-time employees (FTEs) are chasing delinquent accounts vs pursuing prospects or attending to customer relationships. This is especially true for start-ups and growing businesses that will inevitably need to scale outreach to delinquent consumers; and efficiently scaling customer communications requires investment in digital transformation. While studies show that 49.5% of consumers take no action after a collection call, digital-first can lower the cost of collections by upwards of 15% and increase resolution rates up to 25%.
By partnering with Retain, our clients have been able reallocate resources with up to:
- 4x increased agent efficiency
- 75% reduction in required FTE for customer outreach
With Retain, there’s no need for expensive headcount to manage your unresponsive customer relationships and delinquent accounts. Our pricing plans are based on the number of customers you’re managing, never on how much you’re collecting–so as your programs improve, your costs don’t fluctuate.
2. More intelligent engagement strategy - go beyond segmentation
It should come as no surprise that contacting consumers in their preferred communication channel gives businesses better chances for engagement, and in turn repayment:
- Contacting first through a customer’s preferred channel can lead to a more than 10% increase in payments
- Digital-first customers contacted digitally make 12% more payments than those contacted via traditional channels
But it takes more than just adding digital channels to the communication mix. You can leverage data science and analytics in automated communications to send custom messages at the right time through the right channel—a more sophisticated strategy going beyond basic segmentation.
Retain is powered by patented technology that’s informed by engagement data from millions of customers. Retain’s machine learning engine assesses a multitude of customer interaction variables, from your message content all the way through engagement data, and provides dynamic performance improvements to your operations—no fine-tuning necessary.
3. Building in-house vs strategic SaaS solutions
Whether you are looking to evaluate your current strategy or jumpstart new communication channels to better engage all your customers, it’s important to consider the pros and cons for your budget between building in-house engagement programs versus working with a partner.
If you build it you:
- Need expertise in digital optimization, data science, deliverability, and digital experience to develop programs that engage with customers in preferred ways
- Implement and automate email and/or SMS messaging
- Dedicate a team to stay on top of monitoring, adjusting, and maintaining relationships with ISPs and SMS carriers
- Make sure federal and state regulations are being followed in strategy and implementation
- Ready-to use, patented machine learning engine informed by nearly 6 million customer engagements
- Ability to scale operations without adding headcount
- Dedicated Email Operations and Deliverability Team proactively monitors and makes adjustments, assisted by our patented optimization engine
- Email and SMS compliance functionality at scale including opt-out reporting for your consent management
4. Better digital communication delivery rates drive self-service and save on costs
Prompting customers to engage digitally or through self-serve options saves FTE resources, reduces paper and postage costs, and enables scalability without additional headcount—and better email delivery and deliverability rates increase that engagement (because what good does it do if your message never reaches their inbox?).
But as with everything in business, fluctuations will happen with your email delivery and deliverability rates—is your operations team equipped to respond and adjust to these changes?
Retain’s dedicated Email Operations and Deliverability Team proactively monitors and makes performance adjustments, stays on top of ESP best practices and maintains relationships with ISPs for optimal email acceptance rates. With Retain you can catch your business up to speed and exceed the national industry averages in email metrics:
- Retain Delivery Rate: 98.6%
- Average Industry Rate: 90%
- Retain Deliverability Rate: 87%
- Average Industry Rate: 84.8%
Get Started Optimizing Your Operations Budget with Retain
From managing past-due account communications to reminding customers of upcoming activity, Retain enables your business’s digital transformation without breaking the bank for your operations budget. Retain is your ready-to-use solution for engaging and retaining customers throughout their journey—from reminders to repayment.