The global outbound telemarketing market was valued at almost USD11 billion in 2016 and is expected to surpass USD13 billion by 2021.
Procurement market intelligence analysts have announced its latest market research report on outbound telemarketing for the period 2017-2021. This market analysis discusses the major drivers and key emerging trends that will influence the growth of the global outbound telemarketing market during the forecast period. Some of the top vendors listed in this industry analysis include Marketone, Marketmakers, Telecontact Resource Services, and Onbrand24.
In terms of geographical analysis, the Americas are the largest shareholder in the global market, with a market share of around 41%. The US was the key revenue generating country in this region by growing at a growth rate of almost 1% by 2021.
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According to Angad Singh, a category specialist at Technavio for research on category spend intelligence, “The market is shifting to dialer strategy to make calls to ensure better response rates. The call data analytics and historical trend analyses are conducted to improve the productivity of the campaign. The use of call data helps to analyze call patterns and to conduct market research reports on call history, and it also helps telemarketers gain insights on what time would be ideal to contact prospective leads.”
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The new procurement market intelligence report analyzes some of the key drivers and trends responsible for the growth of this market and its sub-segments.
Two-way communication
Telemarketing is a cost-effective way of generating leads where the buyers can outsource these services to benefit from quality leads and sophisticated technology at low prices. The end-users save a lot on their marketing budgets by choosing the cost per lead model, and it also helps them gain insights on consumer behavior trends by obtaining real-time feedback and consumer response patterns. The use of VoIP systems to make calls, have significantly lowered operational costs and help in the growth of the market.
Growth in the usage of mobile phones
The increasing use of mobile phones is promoting telemarketers to use different strategies to obtain more potential client leads. Mobile phones help firms access prospects easily as they are web-enabled, which leads to an increase in response rates. The telemarketers are leveraging lead conversion by providing customized content through SMS, and the use of GPS will further augment the market for telemarketing.
Innovation in telemarketing practices
The vendors in the market are forming strategic campaigns that use market research and consumer analytics to create targeted lists with higher conversion rates. These data analytics study the pattern of consumer behavior and preferences to list out potential clients that result in higher conversion rates. The use of omnichannel marketing will lead to better ROI for telemarketing companies and help in attracting more consumers. Telemarketers use SMS, e-mail, and social media in conjunction with calls to generate leads which will help in sustaining the market for telemarketing services.
A more detailed analysis is available in the procurement market intelligence report titled, ‘Global Outbound Telemarketing Market – Procurement Market Intelligence Report 2017-2021.’
