With a large number of small and large players across the globe, the vendor landscape of the global outbound telemarketing market is largely fragmented and intensely competitive, observes Transparency Market Research in a recent report. With the view of exploiting growth opportunities to their fullest, companies are focusing on offering specialist services for aspects such as multilingual marketing, lead generation, and data procurement. Provision of value-added services such as surveys, benchmarking, database intelligence, and social network monitoring are also increasingly becoming the key strategies adopted by leading players in the market so as to strengthen their hold on the market.
Business organizations are more inclined toward outbound telemarketing due to reasonable cost of setting up a call center. Additionally, it saves travel expenses and addresses customer queries. Outbound telemarketing has been an important tool for customer engagement and retention for companies across the world. Also, consumers appreciate an extremely capable customer management procedure in the grievances or complaints incidents. They expect a fast resolution from the respective organizations as well.
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Rise in demand for both business-to-business and business-to-consumer services is responsible for the overall growth of the global outbound telemarketing market in the recent years. Other leading factors responsible for the growth of the outbound telemarketing market include advanced capabilities of automation, focus on account-based marketing, the declining prices of data and voice transmission over the last decade, and advances in information technology.
Declining prices of voice transmission helps companies to resort to outbound telemarketing practices as a key part of their marketing strategies by making it affordable for them to reach out the new customers daily.