Outbound call center services have been an important part of any business’s revenue generation or revue enhancement strategy. In the old days, outbound call center processes were synonymous with sales. It was clear that when someone from a call center calls you, they are going to try and sell something. Over the past decade, there have been many outbound processes that have more to do with customer retention and customer feedback than revenue. However, revenue enhancement remains one of the key outbound processes that are outsourced.
These revenue generation processes span across various sectors. Some of these processes are –
Customer Acquisition for Credit Card Companies
Banks and credit card companies always need to expand their customer base. To acquire new customers and sell them their credit cards, these financial organizations outsource this function to a BPO company. The agents are provided with a database of either a bank’s existing customers or database acquired from various sources like credit score websites where potential customers enter their information.
Up-Selling Data Plans for Telecom Providers
With mobile data being used by a growing number of customers across the globe, telecom providers, especially here in India outsource their revenue generation processes to BPO companies. In this process, the database of customers is contacted and an attempt is made to up-sell a higher data plan to them. In some cases, upgrades from 3G to 4G plans are pitched and in other cases, data plans with greater validity are offered to customers. These processes help generate revenue for these telecom operators by helping them capitalize on their current base of customers.
Generating Sales of Holiday Packages
The travel and tourism industry has been capitalizing on outbound calling processes for years to generate sales of various holiday packages internationally. There are several travel websites that operate in India and globally that offer various tour packages to customers. These companies, in order to reduce their own operating costs, outsource the revenue generation or sales process to BPO companies. The main task of this process is to outcall on the given data and tries to convince the potential customers of the benefits of booking a holiday with your travel company.
Account Opening Processes for Banks
Banking is a tough sector and is highly competitive. The lifeblood of this business is customers. As stated in a point above, acquiring new customers is paramount for banks. That is why they outsource their customer acquisition processes to call center services companies. In certain cases, a database of competing banks customers is acquired and then cold calling is carried out on these customers to explain the various benefits of opening an account with their bank. Sometimes the targets can be to open a specific type of accounts like current accounts or demat accounts.
Debt Collection Processes
Not sure whether this process can be counted under revenue enhancement but it is critical to the profitability of any financial institution. When customers do not repay their loans or credit card bills, banks or credit card companies call these customers to work out payment plans with the customers to recover the amount owed to them. This process is also outsourced to call center companies so that the bank can focus on its core functions.
These are just some of the sectors and processes that are outsourcing outbound call center services to enhance their revenues. What is needed by these sectors is to identify the right BPO company to partner with. Octopus Tech is an emerging Indian outsourcing company offering outbound call center services in India to a wide variety of industries. To know more about our services, contact us today.