Maximize customer outreach and prevent lost revenue during an economic crisis.
When times are tough, customer balances go up. With widespread layoffs and furloughs, increased expenses, and high levels of stress, it’s no surprise that more customers fall behind on payments during an economic crisis. They may be hoping for their circumstances to improve soon and direct limited resources to other necessities, such as groceries, child care, and/or mortgages.
Yet if their balances reach a pivotal threshold, it will be increasingly difficult for them to pay in full – or at all. Which will result in more hardship for them, and lost revenue for your company.
We call those pivotal thresholds Customer Balance Risk Zones, and knowing them is a game-changer for your customer engagement strategy. Find out why by checking out our Risk Zone Snapshots below, and by reading BlastPoint CEO & Co-Founder Alison Alvarez’s article about why Customer Balance Risk Zones are so important.
Balance amounts are one of the most important indicators of whether a customer will pay or default.
