Outbound Telemarketing Market- Latest Trends and Forecast Analysis upto 2024
Owing to direct human interaction in the outbound telemarketing market, there are numerous benefits such as strengthening of customer base, low cost of communication, and building of goodwill and public image. Outbound telemarketing is becoming very popular with increase in the modern approach of business. Organizations cannot depend only on inbound telemarketing and as a result the use of outbound telemarketing is gaining importance. This is likely to be one of the key drivers of growth for the outbound telemarketing market over the forecast period. Consumers expect a highly efficient customer management process in the event of grievances or complaints. They expect a fast resolution from the respective organizations as well. Additionally, emergence of the concept ‘customer is king’ has made organizations opt for outbound telemarketing.
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Business organizations are more inclined toward outbound telemarketing due to the steep expenses incurred in inbound telemarketing such as in advertising and publicity. Outbound telemarketing saves travel expenses of the business and can directly address the concerns of customers. Expansion of business to business and business to consumer interaction is likely to drive the outbound telemarketing market over the forecast period. Owing to the cost effective and convenient mode of communication, outbound telemarketing is becoming widely popular among business organizations. Outbound telemarketing has been an important tool for customer retention for companies around the globe.
The outbound telemarketing market is segmented by two types- by type and by service styles. The basic categories of telemarketing are business to business and business to consumer. Proactive and pre-existing customers are directly contacted for business discussions in the outbound telemarketing market. During the forecast period, business to business segment is likely to be the major segment on the basis of type of outbound telemarketing. On the basis of service styles, the outbound telemarketing market is segregated by call to action, appointment setting, database cleansing, and telesales. Telesales was one of the key segments in 2015 and is likely to retain its dominant position over the forecast period.
Geographically, the outbound telemarketing market is segmented by North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific accounted for majority of the market share in 2015 and is expected to retain the share over the forecast period. The cost effective and direct sales marketing involved in outbound telemarketing is one of the major drivers in this region. India accounts for a dominant market share in Asia Pacific. Europe and North America account for a considerable share in the outbound telemarketing market. Growing number of business organizations in these regions is increasing the share of the outbound telemarketing market. Middle East & Africa has an increasing demand for outbound telemarketing and is expected to grow at a substantial rate over the forecast period. The comprehensive business strategy involved in outbound telemarketing is one of the market drivers in this region. Brazil has one of the largest markets for outbound telemarketing in Latin America.
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The major players in the outbound telemarketing market are Telemarketing.com, Business Beanstalk, ETS, 5 Star, and TeleContact Resource Services. Some of the other prominent companies in the outbound telemarketing market are West, Sound Telecom, Generation Sales Group, DRS Acquisitions, and OPK Telemarketing.
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