What Credit Managers and Social Media Influencers Have in Common

In the modern-day world of social media platforms, influencers have become some of the most prominent figures within the marketing and advertising industries. Think about a video you may have come across of someone sharing cooking tips, style trends or do-it-yourself (DIY) projects—if an influencer captures your attention or presents an idea in a relatable way, it may spark motivation for you to try that exact same recipe, outfit or project.

It may be difficult to think that there are any similarities between social media influencers and credit professionals, but some influencer characteristics are key to becoming a leader in the B2B credit industry. “I look at influencers and leaders as having the same traits,” Chris Doxey, MBA, CAPP, CCSA, CICA, CPC , president and owner of Doxey Inc. said during an NACM webinar,?Credit and Collection as an Influencer: An Interactive Roadmap. “Some of the most important traits is having passion, being able to communicate well and sharing knowledge.”

The opinions of successful influencers are sought out and they are asked to make deeper contributions on a company wide basis, Doxey said. “You know when you’ve arrived because you’ll see a lot of invitations and be asked to present your best practices to large audiences.”

Here are the steps credit professionals can take to adopt an influencer mindset:

Know Your Audience

You must identify your audience in order to engage accordingly. Building your brand and identifying your niche are the foundational steps to have influence on others. But influencers are not exclusive to social media. Credit professionals can become influential to those around them—including colleagues, customers and upper management.?

For credit professionals to get a seat at the C-suite table, it is essential to be prepared. Credit leaders can build influence across the entire industry. Using social media platforms to promote or market different programs such as mentorship, education and networking groups are a way to build your audience and lead others in the industry. “It’s an area NACM is starting to capitalize on to help revitalize our industry—the?how?and?why?we do it,” said Scott Michelsen, CCE, ICCE , corporate credit director at Kenworth Sales Company - Salt Lake City (West Valley City, UT). “It plays a huge role in guidance for the next generation who is more social media savvy. Professionals need all the support they can get.”

Become a Master Communicator

The easier the information is for the C-suite to digest, the more likely it will be considered, said Ray Yarborough, CCE, CICP, CCRA , senior accounts receivable manager at Connexity, Inc. (Santa Monica, CA). “Whether it’s an AR dashboard everyone has access to or identifying ways to communicate your recommendations and concerns, you have to do so in an effective manner,” he added. “It’s not as effective to send them your concerns in 20-page report or an email that’s 10 paragraphs long. The more concise you are,?the better chance you have to get buy-in."

Following your words with action is a foundational way to build a rapport of trust with others around you. Trust is how the best influencers can easily guide others because it lays foundation of mutual respect. Those who you want to influence must be confident in your decision-making as a leader, skillsets and recommendations. They will be more likely to listen to someone who is reliable. Leaders who hold a passion for their career and want to share that knowledge with others can have a great impact on their industry.

Collaborate With Others

Though it may seem as if the responsibility of influence falls only on leaders themselves, it is still a team effort. You must know how to work with others in order to reach a common goal. For example, you can take the initiative to hold meetings with upper management or the sales department.

“Usually, my team will need my help with certain issues, but other times they’ll become my boss where they may need me to be the one to reach out to someone in the company or to a customer,” said Michelsen. “There is this mutual understanding between my team and upper management that they can ask us questions and we will follow through with answers. It is a wonderful dynamic.”

Leaders who are open to hearing their team’s ideas or plans have a deeper influence on others. “Some leaders like to make an example of others and put them on the ‘wall of shame’,” said Michelsen. “When there’s an issue, I pull someone to the side to address it and it’s a much better approach.”

Great Leaders Embody the Influencer Mindset

As a credit professional who has moved between credit and sales, Marty Smith , CCE, credit manager at Ash Grove Cement Company (Bradenton, FL) said the number one way a leader has influence over others is through trust.

“In my case, it’s being in the same industry for decades,” said Smith. “You have a certain amount of legitimacy you acquire through time and being a person who does what they say they will do. Communication is key, whether in credit or sales. You do not have to be edgy to collect money or aggressive to be in sales. Everything builds from trust and integrity.”

Influencers need to develop networking and marketing skills as well as emotional intelligence and genuine empathy for those who look up to them. “The networking aspect of social media influence is what credit managers can really learn from,” said Yarborough. “Whether it is company events, making efforts to interact with people you normally would not or making yourself known, it’s the times outside of the office where you truly get to know people. Once you know people on a more personal level, they are more likely and willing to listen to what you have to say versus an email or call from someone they have never interacted with.”

For more opportunities to network, you can join any of our?Thought Leadership Groups?to connect monthly with other professionals in the trade credit industry. You may also be interested in NACM’s upcoming webinar on?Collaborating Effectively.