The world is rapidly moving forward with the emergence of new technologies, telemarketing still happens to be the most useful and fast methods for marketing your product and building customer communication.
The reasons behind it becoming popular is its real-time influence with person to person interaction on a live call. There doesn’t come the same effect with any other medium or channels like social media or emails that business process outsourcing agencies use for sales or marketing. The prevalent trends in the bpo industry for the year 2018 are nearshore, outshore and offshore outsourcing, with cost saving remaining to be the primary purpose. However, whether its nearshore or outshore, telemarketing happens to be the most useful medium for sales and marketing.
In an age where internet is taking a toll on our lives and entities are becoming virtual only, the calmness or assurance that the real-time human conversations bring is unparalleled. However, the businesses that have been solely reliant on telemarketing are currently faced with a few challenges, therefore, we have identified a few issues that have been found in the bpo industry in the year 2017 and are expected to grow in the current year of 2018 as well.
There is a long list of challenges that have been brought out by clients to the quality assurance departments of many companies, however, the biggest issue when all the other options are eliminated remains to be the growth. All companies, regardless of their size, believe in expanding and growing their businesses. The question that how this success can be attained still remains a mystery that all business owners strive to find. In these circumstances, when there are limited options and resources are few, companies switch to the safest option of telemarketing. Whether it be the increase in the number of calls answered, offering better services or introducing new schemes on phone to retain the customer, appointment sets or acquisition leads, the motive is to expand and grow.
As the identification of the 1st problem that is growth has been done, there pops another issue that has been present in the field of telemarketing and hindering many operations the services are used for.
The second biggest issue that business face is the retention of customers. Businesses thrive on the idea that their customers remain loyal to them and use their product for an extended period of time. In the hustle-bustle of busy lives these days, it has become a routine to find new products in the market now, which is giving a great competition to companies. in the time when they lose their customer, the regaining of them is one solution they seek by offering them enticing offers that they cannot refuse. To ensure that you use this strategy to maximize your sale, it’s also important telemarketing agencies maintain a robust setup of customer profiling and portfolios, to contact them with suitable offers. The challenge that comes to companies is their failure to maintain customer profiles.
They should keep records of the customers’ geographic location, their level of income and revenue details. The sites they frequently visit, derive some information from their social media sites, and also check for the customer behavior in their purchases. All of these prove to be of great help to win your customer back. There is nothing that impresses a client more than the knowledge that the items he had been aiming to buy or use are available at a better price. The knowledge of these items can very well persuade the customer to return to old products.
Companies need to realize the importance of customer retention and work on all the aspect that add up to their benefit. If a proper record of customer information is not kept with the company and the data is not utilized in the right way, this backfires for businesses and also prove to be very expensive on their pockets.
Customer contact strategy
There are two kinds of contact strategies that rule the telemarketing business, the inbound contact and the outbound contact. When companies choose the option of outbound services, they remain dubious in what ways to adopt or method to take. What they can do when using outbound services is try making long-term customers, which can be done by simple means of conducting a survey first using CSAT method, to understand the demography, the terrain and knowing the general trend that prevails in that area. Companies can redirect their focus and think later about what is needed in that area to deliver the required services in that particular geographical location. A little R and D is always a good option for businesses to adopt. This neither sounds invasive nor irks the customer.
Other than outbound, there are inbound services as well. Some telemarketers like to use online information of clients as generic data like the geographical location, expected income and revenue are all already known to the seller. However, it still comes as a challenge for many when they contact with wrong information to the customer.
The third challenge after customer retention and selection of contact strategy happens to be the acquisition of new clients. The retention of customer and other approaches can be used with previous contact details and profiling, but making new contacts become terribly difficult for the telemarketing agencies when their entire sales business depends on it.
Besides the growth that comes with retaining the old customer, it’s most vital for business expansion to gain new customers and strengthen the client base. This is a step that works as a most powerful tool for companies. The same method of R&D can be used here to overcome the challenge of acquiring new customers. It’s been said that a list of customers should be taken to make calls to, however, this is not an appropriate solution. Telemarketing is all about playing smart, therefore the method used should also be very proactive and smart in approach.
To acquire new clients, marketers can approach customers through text messages to announce discounted rates on products. This can be done by training the telemarketing agency’s employees with smart yet technical ways to contact customers and put their word forward. This way can enormously help the telemarketing business to attain a number of new clients for the product they are selling.
The business and methods of telemarketing may seem old, but they are still most suitable and highly applicable strategies in sales businesses. nevertheless, the businesses that desire to grow face some challenges and hurdles that need to be overcome to excel in the market and achieve the results companies need to see in their expansion plan.