Outsourcing to India – What are the Pros and Cons?

outsourcing pros cons

The Scope of Outsourcing in India

Being a top business trend, the question may come in your mind that what is the scope of outsourcing in a country like India?… Well, India has managed itself as a major hub for outsourcing business at the global level. Today many international companies, as well as Indian brands, prefer to go for outsourcing in India for better customer services.

With the growth of outsourcing day by day more and more companies rely upon this sector. But just like any other business, this also involves some pros as well as cons. Especially when you outsource to India, you need to check the advantages and disadvantages of this industry to stay yourself ahead of the competitors. So in this article, check what are these:-

What are the Pros?

Indian workers are most fit in international global economic appeal. But the cost is not the only factor for which companies outsource their business to India. Let’s check the other benefits:-

Cost-Friendly

As I said above, Indian labor is more cost friendly than other global players. On the other hand, an in-house team is costlier than hiring staff from an external agency. So, businesses can save costs on infrastructure, salary, and other facilities with outsourcing. Indian market is famous for the result-oriented customer services at easy-cost.

Time-Saving

Outsourcing helps to save enough time and resources to focus on your business’s core tasks as support functions are taken care of by the experienced staff of the external agency. Hence, you can emphasize on strengthening the core processes and meet your customers’ needs more efficiently.

Expert Handling

India offers expertise by delivering services to multiple companies of the same niche. Also, outsourcing vendors have access to specific equipment and technical knowledge to deliver the right services to end-users. Moreover, the country has a large number of English speaking people. This factor attracts international businesses to hire India to handle their customer support services effectively.

Improved Productivity

When you handed over your support services to the third party, you focus on the core components of your organization. As a result, the outcome of the organization improves on both the core and non-core aspects. Thus, outsourcing boost your business’s productivity as well as revenues.

Round-the-Clock Availability

With offshore outsourcing to India, companies can take the benefit of different time zones for round-the-clock availability. This allows businesses to serve their clients with flexible business hours, attracting more customers.

What are the Cons?

Apart from the pros of outsourcing discussed above, choosing a wrong partner can create more difficulties than benefits for your business. Let’s check what are these:-

Harm to your Data

When you outsource your services, you need to share access to confidential data with the outsourcing vendor. This may create the risks of sensitive data leakage or misuse, in case the outsourcing service provider doesn’t follow the essential security measures. So, you must be alert and need deep research while choosing your service partner.

Regional & Communication Differences

Outsourcing to an offshore partner can cause certain difficulties on various grounds like culture, geographical area, and language differences. Your company will need to adjust to and accommodate the social & cultural practices of the vendor. Along with this, the difference in time zones and speaking accent causes communication difficulties among businesses & service providers.

Hidden Expenses

No doubt outsourcing practice has gained grounds due to its cost-effective benefits, but partnering with a wrong service provider can add up more money. You might need to bear hidden expenses as well as loss of business due to inappropriate services, and others.

Lack of Control

Outsourcing your technical support means you will rely on the specific technology systems and products used by the service provider. As a result, you end up with losing control of managing the outsourced part of your business. So, in such case, you need to look for the right vendor using latest tools and technologies to meet up your business needs.

Conclusion

Now, you are aware of both the benefits and drawbacks of outsourcing when you choose India. So, if you are looking to outsource find a reliable partner in order to tackle difficulties and minimize the number of disadvantages. The right partner will enhance your business and take it to the new heights. It is very important before you decide to outsource that you consider the goals and the objectives of your company while choosing an outsourcing partner.

Original Source: https://www.theoctopustech.com/outsourcing-to-india-what-are-the-pros-and-cons/

Customer Experience: The Hottest Buzzword in Business These Days

customer experience

Customer Experience or more popular its abbreviated form CX is the ubiquitous term in business these days. But what exactly this term is? This question may nod in the mind who are new in their business. So, let’s first start with defining the word is the sum of all touchpoints and interactions a customer has with the company.

Nowadays, a customer can interact with brands of companies in more ways than ever. Either visiting through the website, browsing company’s products, reading customer reviews or go through the advertisement – all without speaking a single person. Technology and automation made countless customer interactions happen around the clock. From purchaser’s initial awareness of progressing through the purchase and use of product or service, every step is countable in CX.

How CX differs from Customer Services?

The focus of customer services or CS is to increase customer satisfaction by giving assistance on how to best use the product, resolving issues and ensuring they had a great buying experience. However, the customer experience involves start to end the journey with deep analytics of CS. Customer Service could be helping a customer to buy the right product, but CX tends to focus on pre-sale to post-sale experience. So, it might say that CS is part of the customer experience process.

Can CX be outsourced?

Just like customer support outsourcing or customer service outsourcing, CX also be outsourced with expert market researchers. Especially, if your business is in the start-up stage it is advisable to go for outsourcing expert handle the crucial strategy to deliver exceptional customer experience management with new digital channels. Here are the key points to go for outsourcing your customer interaction management:-

i) Industry specialists take care of customer’s demand through various support channels like a call, chat, email, social media with the best technology and employee expertise.

ii) Experts know how to manage support with advanced technology, infrastructure, and training resources

iii) Outsourcing facilitates smooth company-customer interactions with native language support to make customers feel more engaged with the brand. Interacting in regional language takes CX to the next level.

iv) Specialists focus on the rising expectations of the modern-day customer and enhance your customer experience with the latest trends.

How to implement a good customer experience strategy?

Customers are the boon for any business. That’s why companies are more focusing to win new customers and retain existing ones. Delivering a great experience to the customer is challenging as well as in high priority. So, you need to implement a strong CX strategy to improve customer satisfaction and increase revenues.

i) The first step is to create a clear customer-focused vision with a set of statements that act as guiding principles. So that every member of your team should follow these principles and they must execute into all areas from training to development.

ii) For building strong customer relationships, you must be able to meet the needs and wants of your customers. Customer support teams must know how to deal with different type of customers.

iii) The best customer experience is created when the dealing person generates an emotional connection with the customer. Emotions shape the attitudes that drive the decision.

iv) Ideally capturing feedback in real time helps you to boost up CX with your business. Automated tools are the best way to gain more insightful feedbacks.

v) You must know what customer think about the quality of the service compared to the CX principles you have defined. A quality framework helps you by tracking your team’s development and customer satisfaction with the team member.

vi) Many companies are using Net Promoter Score or NPS to collect valuable information on customer experience metric. You measure your CX to increase the value of your business.

Conclusion

Customer Experience means a lot for any company. Understanding your customer, architecture a plan and empowering employees to deliver exceptional customer service is all that needs to lead a business ahead. A good CX strategy helps to boost-up your customers, reduces churn and expand revenues.

Original Source: https://www.theoctopustech.com/customer-experience-the-hottest-buzzword-in-business-these-days/

Business Process Outsourcing: What to expect in 2019

BPO 2019 Blog Image

If you had been outsourcing in the past or are planning to start soon, and are somewhat unsure of its future, well you may put all those worries to rest. Outsourcing has survived over the years and will most definitely survive in the future. But to understand what the future holds for the BPO industry, let me first reflect on the past year.

2018 in a Nutshell

Last year has been nothing less than a rollercoaster ride for the BPO industry, all thanks to the technological innovation, the rising global political instability and the return of the protectionist sentiment in the western economies, which combined, has been the continuous source of disrupt in the industry. And the result?

1. The global delivery system has gone under tons of pressure as the clients are demanding more and more from labor and digital arbitrage propositions.

2. BPO firms, as well as multi-service companies, are focussing on acquiring more digital and automation capabilities.

3. All this and various other factors have lead to more severe competition between the global multi-national companies and other in-house shared services and IT companies.

Predictions for 2019

New Technologies

BPO industry has always provided businesses with cost-effective solutions. And the trending technologies of 2018 such as social media, cloud computing, software, and automation have served well to reduce costs and to accelerate growth. This trend will continue well in 2019 as well.

Multi-Tasking

Earlier BPO was synonymous only with call centers. This outdated notion has been replaced with web design, human resources, accounting, coding, and various other tasks. That’s why a huge chunk of outsourcing companies have been investing in offering multiple services such as mobile applications, cloud computing, digital technology etc. in their supplying countries, a trend which will go well in 2019.

Engaging Start-Ups

The past few years have seen a significant surge in startup growth with many startups succeeding under a lot of pressure with time constraints and limited resources. These startups with a small budget often look overseas for cost-effective labor. And where they find it? In BPOs that excel at providing talent at lower costs, thus help complete tedious tasks such as recruitment and trading. Another trend in continuation.

Transparency

Earlier, when only large multinational BPO companies were actively involved in the industry, it became really difficult to gain information on the policies and contracts. Even the employees were kept in the dark. But the transparency has most certainly increased recently. In 2019 too, many more organizations are expected to adjust their policies so as to avoid losing business to more trustworthy organizations.

Politics

Remember how the new administrative power emerging after the 2016 US Presidential elections directly impacted the rules and regulations affecting the BPO sector. The more Trump focussed on “America’s First” policy, the more it encouraged the return of anti-outsourcing bills in Congress. But things aren’t that bad. Despite Trump’s policy claims, the outsourcing industry can continue to expect unstoppable growth in 2019.

Continued Growth

The established outsourcing destinations such as India, Malaysia, Philippines etc. will continue to see growth this year and many more years to come. And we are not only talking of BPO, this year will see an emergence of KPO (Knowledge Process Outsourcing) sector that will further help cater to the new demands besides offering more specialized roles such as web design, market research, equity research etc.

New Outsourcing Destinations

Oversaturation and reduction in business growth have left businesses to search for alternate outsourcing destinations apart from the already established ones (India, Malaysia, Philippines). The five countries that will emerge as new destinations for outsourcing in 2019 are-

1. Bulgaria

2. Romania

3. Egypt

4. Mexico

5. Columbia

Artificial Intelligence

And lastly, comes the AI technology customization which will also have a major impact on the outsourcing industry in 2019. How? As more and more customers are inquiring about the AI capabilities or how AI can help improve their products or services or what role AI plays in helping us achieve our goals, it becomes imperative for outsourcing firms to hire AI experts to meet these growing client demands.

Conclusion:

In the end, nobody can argue that today’s disruptive outsourcing environment is filled with remarkable opportunities so as to enhance innovation and market competitiveness for forward-thinking organizations. And as you have already seen, 2019 is going to be an exciting year for outsourcing as it is filled with new technologies that continue to unravel and paradigms that continue to change.

Latest Innovation Swings in Customer Service

Innovation swings blog image

With the increased adoption of tech channels in our routine life, the innovating customer touchpoints also experience the digital transformations that change the consistency of human sales and service channels. But with new technologies, challenges come too. The steep learning of using new innovations in customer services and support is needed to keep yourself up-to-date in the run.

Change is the only constant thing in the world of customer services and if you don’t go for these innovation swings, you will be left behind. The massive benefit of these developing trends is to give more and more realistic experience to the customers which improve your business revenues. Not only the money matters but it also encourages the process improvements, knowledge sharing, risk reduction and much more.

Small and medium business holders are adopting virtual storage and systems to counter a lack of data centers. In this way, the tech drifts of present days are proved as a strong strategy to advantage business process outsourcing. So, upgrading yourself with the latest innovation trends keep your BPO services ahead among its competitors.

What are the booming trends in Customer Service Technology?

Video Communication

Video voicemails are the one the top trends in these days. We know that eye contact is a more powerful tool to build up a strong relationship among customers and a client. So, face to face conversation or video proves a viable business improving tool with growing expectations of customers. With the help of Visual Voicemails, service providers can schedule meetings with the customers as well as clients for face to face interaction whenever it possible.

Real-Time Messaging

In this fast-paced world, customers expect you to be online always and interact via chat instead of email. Real-time messaging and responsiveness leave quite positive reactions on the customers. It’s not about Facebook Messenger or WhatsApp, but the on-site conversations really matter in gaining customer satisfaction.

Social Media Management Tools

Browsing social platforms has emerged as the third most popular online activity. So, for the BPO service providers opting social media management tools is a game-changing strategy. Companies these days invest more in real-time customer engagement instead of call center software programs. This will allow companies to gain first-hand insight over their products and feedback that enhance a company’s ability to analyze issues with the products as well as give solutions for future problems.

Talk Bots

Bots are different interaction mode and an opportunity to engage your customers more effectively. Bots can work all the time especially when your customer service team is asleep. We can say it is a self-service for customers that reduce expenses of BPO vendors by providing a new repeatable method of communication. This technology will continue to make a huge advance over the next few years and will be capable of doing more than humans today.

Machine Intelligence

Machine Intelligence or more commonly known as Artificial Intelligence is predicted to use in customer service by 80%. However, many call center outsourcing companies already using AI in their customer support operations. Nowadays, Artificial Intelligence is still a tool with fairly limited functionality. But in coming days this will prove as an efficient tool to suggest replies to human agents.

Google Voice

Voice technologies have been a major trend with the advent of Alexa, Cortana, and Google Assistant. Being present in Android and iOS phones, Google Voice is the leading digital assistant and the use will grow significantly in customer’s lives. In the coming few months, these technologies will rule the world and implementing these in your enterprise will helpful in your business improvement.

Data-Driven Technology

No matter, which technology you are using, but it must be an effective data-driven technology. These service technologies record a variety of information about customer interactions so, the added software must be beneficial across your entire organization. Your sales team will need this data to understand customer’s needs and use these insights during their sales pitch.

Conclusion

Balancing today’s priorities is a constant struggle while changing technology drifts. The customer support outsourcing is growing and the major concern is to increase skill shortage. That is actually possible with new generation technology. These new innovations continue to grow and benefits to encourage your business like no before. Outsourcing service providers at a global level are expected to use these innovations to effectively address market challenges.

Emerging technologies such as social media platforms, data-driven software, cloud computing, and automation providing cutting cost solutions to enterprises. Expanding businesses do not want to hire a large number of people for small tasks where these techs will help them in an effective manner. While it is an uphill task for many call center outsourcing service providers, many top-notch players of this industry already giving an edge with the help of robotic process automation in their standard client service portfolios.

Original Source: https://www.theoctopustech.com/latest-innovation-swings-in-customer-service/

Legal Process Outsourcing – What are Pros and Cons?

LPO Banner Img

What is LPO?

The legal industry surge to the outsourcing of complex tasks these days. The concept of Legal Process Outsourcing (LPO) includes research, intellectual property services, contract negotiation, and due diligence. Today, more and more companies are believing that outsourcing legal processes with expert knowledge is hassle-free and good for their business. But, what is the LPO?… The legal process outsourcing or most commonly known as LPO is an outside legal support service obtaining by any law firm or corporation offshore/ onshore for their legal solutions.

How Does it Work?

Setting up an LPO and working with freshers in not as easy as other outsourcing businesses. The complexity of terms, time management, and team alignment may hassle up the lawyers with no knowledge. So, a deep study is must to work like a pro. It is the process where in-house legal departments, private law firms, and organizations from different geographical areas outsource their work to lessen the burden.

Legal Process Outsourcing works with a skillful blend of forensic, technical and legal expertise. It requires deep confidentiality in nature so that the sensitive information of the client must not leak on any grounds. The main cause for outsourcing legal work is the convenience and efficiency of the expert service provider. Technology has shrunk the time and distance of different geographical boundaries which realize the legal firms to develop strategies to provide efficient support systems at a global level.

What are the Pros of LPO?

Cost Saving:- LPOs lessen the burden of spent cost on areas like legal research, skilled labor, document review, due diligence, contract management, infrastructure, and equipment. Outsourcing drastically cut down the operating cost by half. Thus, the reduction of cost help to invest more revenue in the core areas of your law firm.

Round-the-Clock Services:- Outsourcing the legal process offer 24/7 availability of customer support. This help to increase your business with maximum customer satisfaction. With high client satisfaction ratio, you can also stay ahead of your competitors.

Flexible Staffing Models and Scalability:- The latest staffing trends are more important for boosting your business growth. LPOs offers flexible staffing and scalability that developed your client base and recruit top talents to enhance business.

Focus on Core Business Operations:- LPOs decreased the load of recruiting staff and providing facilities to them. Thus, you can focus on the other core business operations that are more important to grow your business.

Latest Technology and Changing Trends:- No doubt, outsourcing to any law firm means to be occupied with the latest technologies. In this day to day changing tech era, the trends also change rapidly. So, it can be troublesome for small businesses to let go with all changing routines. LPOs help them in this matter as they are well versed with all the latest ongoing innovations.

What are the Cons of LPOs?

Communication Gaps:- Offshore outsourcing entails a lot of management to cover the communication gap between the client and firm. Communications between the service provider and its customer must be clear and continuous. Lack of communication generally considered the lack of caliber which may hamper the business. Outsource offshore legal processes feel critics over clients’ expectations either because of cultural barriers or ineffective governance.

Hidden Costs:- LPO’s may lessen the costs of services but there are some hidden costs that affect customer ethics. Hidden prices are added to the overall pricing of outsourcing service that includes employee turnover, rising operating costs, profit margins, and quality control. In such case, you can ask your service provider to provide detailed price list to avoid hidden costs.

Confidentiality Breaches and Complexity of Work:- Law firms tend to maintain the confidentiality of cases and information. This is the most important thing for customer relationship. The threat of leaking information often stops clients from outsourcing legal processes.

The Decline in Quality:- Legal work is not limited to reviewing documents and accounting. It all depends upon the deep analytics of case information and it’s related casualties. This required a skillful team which provides quality results. The decline of quality hampers your business.

Conclusion:-

Every industry have some advantages and some disadvantages, so the LPOs has pros and cons. Despite the cons of the LPO industry, there is a significant rise in the number of legal processes where third-party service providers have taken the lead. The cost-effective legal services provided by these third-party vendors with expert knowledge are result oriented and help to reach your business goals. With LPOs, business owners can attentively focus on the core business valuables.

Advancement in technology, low-cost workforce and quality results anywhere around the globe allows business owners to opt outsourcing agency for their complex legal tasks. It becomes the mainstream occupation of offshore as well as onshore attorneys, lawyers and law firms. Moreover, the high-quality English speaking lawyers, fast research and managerial tasks have proved more advantageous for legal outsourcing community.

Original Source: https://www.theoctopustech.com/legal-process-outsourcing-what-are-pros-and-cons/

Customer Advocacy: Is This Thing Even Real?

Customer Advocacy

Do you have a sales team that is tasked with creating leads and closing contracts? If this is so, then what are your current strategies? Do you have one for increasing your web presence to help boost sales through your website? Or one to re-engage leads by sending out email drip campaigns?

No wonder these are some of the most amazing techniques that can help generate new business for you. But, if such is the case, then you wouldn’t be reading this article right now. Isn’t it so? The real problem is these amazing strategies require the active involvement of an equally amazing team to make it work. More so true for startups who do not have the time or even the resources to invest in their business.

Won’t it be a relief if instead of burdening your team members with all the responsibility of your new business, you could share some of the hard work with your customers? Wait… what? Is this even real?

Yes, it is. And it’s got a name as well; Customer Advocacy. Wikipedia defines it as “a specialized form of customer service where the companies focus mainly on what’s best for their customers. It is a change in the company’s culture supported by customer focussed service and marketing techniques.”

In other words, it is everything that you do to put customers needs above yours. It includes never to pull a quick one over your customers to make a quick buck or to lie to them in order to land a sale. How else do you expect to turn your customers into the advocates of your brand? But before the how comes the why.

Why do you need to turn customers into advocates?

Because nobody will trust a new company in the market if they proclaim just how great they are. But wait they hear it from their friends about the exceptional customer service they received and see if they don’t believe this time.

Also, the loyalty of every brand advocate you make will always be with you i.e. he/she will continue to spend with your company only, add their lifetime value to your business and see if it doesn’t go through the roof.

You need to turn your customers into advocates because they lend a certain credibility to your brand by being a low-cost way to spread your message through word of mouth publicity which the majority of your marketing strategies fail to do.

How to create your own Customer Advocacy Program?

I have mentioned the following points keeping in mind that you are new to this whole customer advocacy thing, but even if you are an already established business, still there are a number of ways you can update and modify your customer advocacy strategy.

a) Before jumping headfirst into this program, take some time for preparation. First of all, develop your own working strategy (that too a solid one) that perfectly sums up your customer advocacy program. While doing so, carefully analyze how you will communicate the news regarding your customer advocacy program to those who are interested. For better results, pick your team that comprises of both marketing professionals and customer service agents.

b) After the team selection its time to select the right people among your customers to be your brand advocates. How? By reaching out to them at the right time in the right place with the right message. Usually, the best bet is the people who are already successful bloggers or the ones with a huge fan following. The idea here is to choose the customers with a reputation within the community and turn them into your best brand advocates.

c) Now you have both the right advocacy program and the right advocates to reach out to, all that’s left is get in touch with them and develop a relationship. How? Based on trust and mutual understanding. Think of your customers as friends, listen to them, invest your time, and show support to them. Invite them to test out your products before buying and ask for their feedback in return. Turning your customers into your brand advocates requires a continuous, ongoing effort.

d) Lastly, the feedback that you received previously can be passed down to your research and development team to be acted upon. Also, you need to make sure to provide your brand advocates with a proper platform that allows their voice to be heard. As a final step, its time to fully integrate your customer advocacy program into your current working schedule. The best part is, it will all happen naturally though it might require you to make efforts to keep the momentum going.

A strong customer advocacy program can help your business by converting customers into your brand advocates thus driving in new leads, increased ROI and an improved brand reputation.

Original Source: https://www.theoctopustech.com/customer-advocacy-is-this-thing-even-real/

8 Simple Strategies to Warm Up Your Cold Calling Services

cold-calling

Before plunging headlong into ways for warming up your cold calling services, let’s spend a moment to understand what cold calling or warm calling actually is. Though two sides of the same coin, they are as much different as they can get. In simple words, a warm call refers to calling a prospect from sales point of view with whom you already have had some kind of contact in the past whereas cold calling is contacting individuals or businesses to make a purchase who have never shown any interest in your products or services.

Warm calling may seem like an easy deal (and maybe it is, in many cases) but cold calling potential prospects is an entirely different issue, just the mere thought of it can be hard and frustrating (and probably it is, in most cases). To cope up with the issue, you have two options available, either drop this idea altogether or work around some way to warm up your cold calls, and since abandoning it doesn’t seem like a viable option due to its proven age-old effectiveness, you will have to settle for option 2.

But don’t worry you are not alone in this. I for one, understand this pain well enough due to my years of experience working in this field. And during that period, I have compiled a list of 8 strategies which I believe will greatly help you with the conversion process. Let’s dive in.

1. Preparation is the Key to Success

Preparation is basically getting yourself ready for the day by planning about doing the work in advance. How to prepare? Simple, follow these 3 steps-

a) Always ensure about the good quality of the product or service you are representing.

b) Visualize cold calling as strategic and empowering rather than treating it as indiscriminate or a numbers game.

c) Before calling, work well on your understanding and the wordings of your proposition.

  2. First Impression is the Best Impression

After introduction, be very clear and specific about the purpose of your call as you only have 10 seconds to prove your worth as a telecaller. During this time, keep your opening proposition about the product/service being offered concise and strategic, not detailed and robotic.

  3. Asking Questions is a Sign of Intelligence

Preparing some good facilitative questions beforehand to be asked after the introduction and brief product description is highly recommended as it will not only allow you to understand how your prospects consider and decide on such issues but also help them understand the situation more clearly.

  4. Objectivity is the Mark of an Advisor

When you work in the sales line, or more accurately, for some crappy unethical supplier, it gets much harder to achieve objectivity in your work. But you can include it in your work ethics by practicing the art of being fair and neutral in guiding your prospects towards making an informed decision. If nothing else, it will make you feel good at the end of the day.

A Tip: Never denigrate or criticize your opponents as it will only weaken your case.

  5. Understanding Your Customers’ Point of View

Acting as a biased and self-interested salesperson is the age-old pushy sales approach which is immediately seen for what it is and is never going to work in your favour whereas seeing things from customers’ point of view will not give you vital insights to improve your communication skills but also help build healthy relationships with them. The choice is yours.

  6. Knowledge is Power, Information is Liberating

Educate your prospects by providing useful information and fair feedbacks in response to their queries to help build trust, but if you feel like you don’t possess enough knowledge about the overall product/service or proposition, then it’s better to stay away from it rather than wasting anyone’s time, including your own.

  7. Involving Customers in Decision Making

Start involving the prospects into the discussion and decision-making process if you haven’t already done so, asking their opinions on how they would like to make progress. It’s a great way of securing the lead, along with helping you acquire a great reputation among your clients.

  8. Stay in Touch with Your Clients

Now, we all fully realize the various benefits of staying in touch with customers but the problem arises when you try to put it into practice esp. in sales organizations which are famous for marginalizing cold calling or canvassing teams. One way of doing it is taking clear notes and keeping full records of all the cold calls made by you to keep a watchful eye on situations and act accordingly.

Winding Up:

Warming up your cold calls is a skill that you develop over time. and believe me, “it’s an easy task” said no one ever. But in order to succeed in this field, this is something you must learn to master in order to make that sale. I will not claim that applying these above-mentioned strategies will make you an overnight expert in telecalling but yes, it will definitely improve your communication skills over time.

Original Source: https://www.theoctopustech.com/8-simple-strategies-to-warm-up-your-cold-calling-services/

Why Customer Relationship Management Matters to Your Business

customer-relationship-management

Throughout the history of the business world, customer relationship has played a crucial part in creating a strong personal bond with people. Regardless of what industry you belong to or what kind of products or services you deal with, relationship with customers is the single most defining factor that will ensure the success of your business. As customer relationship holds such high regards for any business, people long since have been looking for ways to excel at it. And this is where CRM comes in.

What is CRM?

CRM or Customer Relationship Management is the overall process of maintaining healthy and productive business relationships with existing customers along with winning back former customers and turning future prospects into customers by tracking and analyzing all the interactions with them. It not only helps you focus on your company’s relationships individually with customers, suppliers, colleagues, service users etc. but also provide support and add-on services throughout the relationship. It is basically of 3 types –

1)Operational CRM that involves direct interaction with customers.

2)Analytical CRM that helps in analyzing customer data.

3)Collaborative CRM that allows easier collaboration with customers.

Why CRM matters to your Business?

CRM strategy can work wonders for both a small scale and large-scale business if implemented in a rightful way. Below I have mentioned some such points as to why CMS matters to your business. Read on –

Better Time Management

With CRM, you don’t have to waste your valuable time or even a great opportunity waiting for the system to be uploaded as it offers a centralized system for the data to be integrated that can be accessed at any time and on any device.

Upsell and Cross-Sell

CRM maximizes the chances of cross-selling and up-selling of products or services by interacting with the customers on a regular basis in order to understand their wants, needs and the patterns of purchase so that offers can be made to them accordingly.

Enhanced Communication

CRM makes it possible for employees to continue offering high-quality service even when the customer’s main point of contact is unavailable for any reason by providing customer related information to whoever needs it.

Cost-Effective

Since the deployment of CRM system apart from being cheap requires a very little amount of paper and manual work which in turn requires lesser staff to manage and even lesser resources to deal with, it’s no wonder it is highly cost-effective in nature.

Training In-House Employees

Apart from its numerous other benefits, a CRM system can even help train your in-house employees on how to analyze important data and which data to focus on along with gaining experience on maintaining healthy relationships with customers.

Better Risk Management

CRM helps you provide a seamless transfer of responsibilities to different sales or support reps in a matter of minutes by using global edit reassignment task and territory management functions in order to shift accounts and responsibilities.

Acquiring New Customers

CRM uses ‘Opportunity of Business’ to identify targets as well as store important data into its system for future use, thus helping you not only to track the history of these targets or newly acquired prospects but turning them into customers as well.

Work from Anywhere

Installing a cloud-based CRM software means you can access the system from literally anywhere be it in the office, on a train, at home and on any device (a laptop, smartphone, tablet etc.) which can be accessed by anyone who needs it from the sales team to the customer representatives.

Automation of Day to Day Tasks

Apart from the managing the surface details of a sale, CRM also relieves you of hundreds of tasks such as form filling, report sending, addressing legal issues that must be completed alongside everything else in order to acquire smooth results.

Increase Business Revenue

Applying a CRM strategy will ensure that the product promotions, with the help of data collected, always reach a brand-new set of people every time which will further aid in popularizing marketing campaigns in a more effective way thus increasing your company’s overall revenue.

Wrapping Up:

Customer Relationship Management isn’t just your average data storage device. If applied correctly, this strategy will not only help you accomplish all the above-mentioned features but also enable you to respond and close service cases much quicker, send customized emails, nurture leads more efficiently, speculate web traffic, improve conversions and much more. CMS isn’t about working harder but rather smarter in order to achieve what you want and provide what your customers want.

Original Source: https://www.theoctopustech.com/why-customer-relationship-management-matters-to-your-business/

A Beginner’s Guide to Implement Social Media Customer Support

Gone are the days when the consumers expect support after they had purchased the product. Today, in the age of social networking, customers expect companies to offer their support long before they have made their mind to purchase and way after they have made that purchase.

Nowadays, customer service is not just a stand-alone process but an essential part of the entire buying cycle. And that’s why it’s no longer considered only as a support service but an inseparable part of marketing and sales.

The corporate giants are well aware of this fact and that is the reason they leave no stone unturned when it comes to utilizing every medium available to interact with the customers and take advantage of every such interaction to impress, offer value and make the sale.

One such medium which carries a vast potential within but is often ignored is Social Media (no, it’s not just used for liking and sharing posts or tweeting). Gartner also supports this fact, claiming that by 2020, 90% of the companies will be using social media for customer support.

Are you still planning to ignore social media for offering customer support? Probably not, but where to start, what guidelines to follow? Luckily for you, I have compiled a list of beginner’s steps to follow in order to effectively implement social media strategy into your support service.

Hire the Social Media Friendly Staff

Everything is public and viewable by customers as well as prospects when it comes to using social media platforms, so it’s highly recommended to prefer individuals who have experience in business processes and communication rather than going after interns or candidates with flawlessly written communication skills but are clueless about how social networking works.

Plan Well your Social Media Strategy

By planning well, I mean engaging your customers in meaningful conversations and valuing their time on social media. Your strategy should also include syncing in with other popular channels that your customers might be using to communicate about your brand and using it effectively to solve customer inquiries in such a way that they feel compelled to recommend your brand with their friends and colleagues.

Listen Closely to Social Conversations

Listening to your customers’ talk on social media will help you identify the areas that need improvement along with whether your social strategy is lacking in marketing or service. Here’s what you can do,

a)Learn what is being said about your brand.

b)Try to read in between lines i.e. understand their sentiments.

c)Figure out the objectives and expectations behind those comments.

Prepare a Project Plan

After having a general idea about the social conversations, define your objectives (such as what resources are needed, the processes that need to follow and how to measure performance) as to what you expect from the implementation of social media into your customer service. Also try to include features that aim to improve the resolution time, reduce the cost of service, and enhance user experience.

Install a System to Respond Quickly

After getting acquainted with the queries, comments, and complaints that are mentioned often by your customers, try to find what are the best ways to respond to them as quickly as possible. Mostly there are two options available, either you can hire a team member solely dedicated to replying to social messages or can segment responsibilities between staff members according to different social platforms available.

Use the Element of Surprise to your Advantage

Though many times, customers use social media to inquire or complain but you cannot deny that often times they drag you into debates just to troll your company (one reason being they don’t expect you to respond). But you can turn this to your benefit by reaching out in a friendly way to help them solve the issue. Receiving a warm response from your end will serve as a nice surprise to them when they aren’t expecting any.

A Tip: when you realize the trolls getting out of hand, steer clear of the conversation but do not under any circumstance feed this troll by sinking to their level.

Switch Modes of Communication whenever Necessary

Now I understand when the customer reaches out to you on social media, you should also respond therein, transparency is essential when it comes to providing quality customer service but sometimes, switching the conversation to private seems a more viable option, the key here is to understand when to make the move.

For e.g. too much tweeting and retweeting on both ends will not only sabotage the image you are trying to build for your company but can also be equally frustrating to your Twitter followers.

Conclusion:

Once you have learned how to use social media effectively for solving customer queries keeping in mind all the above-mentioned points, you can gladly encourage them to share their positive experience on the very same platforms. Who knows, you might be able to convince them not only to delete the original (negative) messages but also to replace them with the positive reviews after receiving a satisfactory response.

Original Source: https://www.theoctopustech.com/a-beginners-guide-to-implement-social-media-customer-support/

Number of Ways Telemarketing can help Grow Your Business

Telemarketing

A telemarketing service is a quick and affordable method that uses the telephone to contact prospective customers in order to help generate leads, make sales along with gathering marketing information. Besides agents calling directly, pre-recorded sales talk is also used to be played over the phone upon automated dialing. It is a highly interactive tool that is used by various companies to make sales by contacting customers.

Telemarketing is also considered as an effective marketing technique that comes action-packed with tons of advantages irrespective of whether you run a small business or is the head of a multinational corporation. It’s main advantage, as we all know, is gauging the interest of your customers immediately in your company’s product or service. Its other benefits include-

a) Generating leads and appointments.

b) Help create rapport with your customers.

c) Promotions go non-stop 24 hours a day.

d) Provide direct feedback from the customers.

e) Efficient with cross-selling and up-selling.

f) Helps expand your sales territory.

And a plenty more. However, the common misconception that most people hold in their mind is that telemarketing is only limited to cold calling sales activities and nothing else. But trust me, this is just the tip of the iceberg, there’s much more than what meets the eye. There are a number of ways you can use telemarketing to turn various opportunities into business. Let’s learn about a few,

  1. Customer Support

Telemarketers can be effectively used to offer customer support service to your clients in order to sort out their complaints and queries. Just make sure your agents know how to address the issue properly as bad reputation often has a way of traveling faster than its good counterpart.

  1. Debt Collection

We all know how overdue payments and outstanding invoices has a way of crippling a business and hindering its progress. But a team of telemarketers can go through your debtors’ list to identify defaulters who owe money to your organization also ensuring that you have the current contact details for them. After that, your telemarketing team can send reminders and start the recovery process.

  1. Launching Products

While planning to launch a new product or service into the market, it always comes in handy to do a survey by phone of potential customers beforehand in order to learn their opinions and understand their demands before you go into production. Not only that, you can even call your existing customers to know their thoughts on this matter as well.

  1. Market Research

Market Research is another one of telemarketing’s time-tested features. Apart from using it for customer feedback and product review (as we have learned above), telemarketing, with the help of latest integrated technology, can also be used for collecting a full range of qualitative and quantitative data that includes everything from small executive level surveying to gathering customer feedback on a national scale.

  1. Soft Lead Generation

Soft lead generation is basically the way of determining if the prospect shows any future promises of doing business with your company or not. This is done with the help of an approach that is tightly scripted along with preparing a list of relevant profiling questions to be asked before finalizing leads. This soft-sell approach is turning out to be more successful than an overt sales approach.

  1. Seminar Reminder

In case you are holding a seminar, having a telemarketing team at your side will greatly assist you by calling the attendees the day before in order to reconfirm the starting time and the venue. Once the agents start calling, you will be surprised to know how many of them have already forgotten about the seminar and the related details.

  1. Data Cleaning

In today’s fast-paced world, we know how quickly the information in our database goes out of date. However, an expert telemarketing team can easily go through your data, allowing you to edit, delete or amend the details of your existing customers as per the requirements. And since it is also a legal requirement in many sectors, so you can easily keep your nose clean with industry regulations.

  1. Assisting Retailers

If you happen to be in retail business, you can always put your telecallers with the task of checking up on store managers to know about how your goods are selling in the market and depending on their answers, you can offer them a demo or some advertising materials to display in order to help them increase sales. This act on your behalf will go a long way into strengthening relationships.

Conclusion:

This is just a small list that I presented above, but you can also use telemarketing to promote events, trade shows, winning back your non-active customers, selling advertisement space by designing a campaign, informing your customers of new developments and much, much more. Telemarketing isn’t what it used to be in the past, use it wisely and it can permanently change your entire business for the better.

Original Source: https://www.theoctopustech.com/number-of-ways-telemarketing-can-help-grow-your-business/