The global outsourced customer care services market is growing to fulfill new expectations of end client. Companies are realizing customer experience as the real differentiator rather than the product and services offered by the companies. This makes it difficult for companies to achieve competitive differentiation. In addition, customers are becoming more connected than ever. This acts as a driver for market growth. Modernizing customer experience differ from the traditional customer relationship management (CRM). New opportunities are developing owing to more customization offered by customer care BPO service providers to use their expertise. This is intended for modernizing the customer experience.
The global outsourced customer care services market is likely to have double digit market growth in near future. Shift towards cloud-based services is likely to profit small and large businesses and assist in entering emerging markets. High demand for mobility is estimated to stimulate the demand for optimization of mobile customer care. This is expected to have a optimistic effect on the market in the next few years.
The need of multi-channel solution development is mounting owing to the rising need for non voice channels in addition with other means of communication. Social customer care channels are expected to offer sizable opportunities for revenue generation to market players. security concerns and data privacy amid end users are vital for driving the adoption of host based customer care such as home agents. Factors such as growing technological advancements and change in consumer behavior are stimulating the need of efficient outsourced customer care services.
The market is segmented by customer care service activity, which includes logistics, Customer relationship management and customer interaction. Customer interaction includes customer care, sales, marketing, technical support and product support. Customer interaction services are widely used by the companies for retaining the customers. Activities in customer interaction service include inbound and outbound calls, email and chat support, lead generation, telemarketing (up selling/ cross selling), technical support, customer helpdesk, billing and collection among others. In present business world, running a customer interaction center is complex owing to involvement of continuously increasing equipment costs, recruiting problems and rapidly changing technological issues. Call center outsourcing offers many companies with the huge opportunities for better customer experience and satisfaction.
Call center outsourcing is able to remove these obstacles which allow a company to pay attention on its primary business activities. Customer interaction services outsourcing help companies to better manage customer relationships, utilize high quality services at cheaper rates, provide 24/7 customer service, decrease costs, manage, maintain and increase market coverage.
Industry players are focusing at ensuring customer loyalty and customer retention in order to sustain in the market with substantial profit margins. Complying with changing customer requirements effectively and providing multichannel solutions are some of the major criteria for sustainability in the market. Some of the key market players include Teleperformance SA, Stream Global Services, Convergys Corporation, West Corporation and Sykes Enterprises among others.
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