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How to Increase Revenue with Outsourcing Telemarketing Services

How to Increase Revenue with Outsourcing Telemarketing Services

Nowadays, companies seeking to grow their business and revenue consider various ways to achieve their specific revenue targets, and one of the more effective ways of doing so is through telemarketing outsourcing services. While it might sound counterintuitive to turn to a seemingly old-school method in an age of marvelous technological advancements such as AI and deep learning, telemarketing has evolved and is more relevant today than ever.  In the following, we’ll explain how telemarketing has evolved, why telemarketing outsourcing has become the norm, and how it’s fighting to remove the negative stigma associated with it.  

Defining Telemarketing in 2024

Telemarketing is a marketing strategy that historically relies on outbound calls to reach customers in a wider horizon through primarily phone calls. It has remained an effective marketing strategy for a very long time. Still, it has fallen out of favor in recent years due to numerous regulations (the US Do-Not-Call list being the most well-known) and a negative reputation that goes against it. That is until recent times when telemarketing has gained a second wind with new technologies, efficient, and purposeful outbound telemarketing. Going into 2024, telemarketing as we know it has changed from low-effort, unethical, and annoying spam callers to ethical, quality marketers who care about potential customers and treat them as human beings first and foremost.  

Types of Outsourced Telemarketing Services

Outsourced telemarketing services are divided into a few subcategories such as:
  • Business-to-Business Telemarketing
  • Business-to-Consumer Telemarketing
  • Inbound Telemarketing
  • Outbound Telemarketing
 

Reasons to Consider Telemarketing Outsourcing

Telemarketing as a marketing strategy has once again shown that it is a viable strategy due to a few different reasons, which we’ll list here.

1. Cheaper way to reach out to customers

Telemarketing is popular as a cheap way of direct communication marketing to new potential customers. Especially when hiring telemarketing outsourcing services, as scalability, upfront costs will be much lower compared to in-house telemarketing. There will also be no expenses needed for training, recruitment, and managing of in-house telemarketing employees.

2. ROI increase

The return on investment is higher when your marketing team focuses its efforts on actual potential clients rather than wasting time and resources on uninterested people. Telemarketing helps by identifying interested people, which in turn increases ROI.

3. Data quality increase

The quality of data is essential for marketers to have a successful sales strategy, and in that topic, telemarketing helps by improving the relevance and accuracy of said data by updating customer information in real-time during calls and learning more about their spending habits and interests.

4. Brand empowerment

Telemarketers represent the company to a wider audience. And so, entrusting telemarketing to a reputable outbound telemarketing service provider boosts the company’s reputation and standing by building trust and rapport with customers. As a result, making them significantly more willing to engage with the company.

5. Helps retain customers

Telemarketers help customer retention through proactive outreach by offering follow-up calls, providing support, and informing customers about new offers, products, and services. Because telemarketing is a direct form of marketing, companies can resolve customer problems faster than non-direct forms, preventing unsatisfied customers and increasing revenue.  

How Has Telemarketing Evolved

Telemarketing has evolved significantly in recent years due to technological advancements, changes in customer behavior, and developments within the regulatory environment. Here are a few key ways that telemarketing has evolved in recent years:

1. Customers come first

While telemarketing has always been about customers, handling them appropriately and ethically was not always the focal point of the telemarketing experience, but that has changed. Customers have more protective measures in place from unscrupulous telemarketing that has been the standard over the 2000s, with Europe’s General Data Protection Regulation (GDPR) and the US’ California Consumer Privacy Act (CCPA) in the U.S. This means that telemarketing companies have adapted to the new standard and evolved to meet the regulatory requirements of data privacy and protection. The US National Do Not Call (DNC) registry is also worth noting that any person in the US can register and prevent telemarketers from unsolicited calls, so telemarketing companies in the present must adhere to this and train their employees accordingly.

2. Outsourcing has become the industry standard

Outsourcing telemarketing services has become the standard rather than in-house telemarketing teams, and the main reason for that is the timezone flexibility of virtual call centers, which can be dispersed globally and whenever needed, reducing labor costs and 24/7 operations. Countries like Kosovo, India, and Bulgaria, among others, offer a much cheaper skilled workforce, making them worth outsourcing to and contributes to a higher revenue gain for companies.

3. The negative stigma around telemarketing is fading

As pointed out before, telemarketing is gaining a better reputation due to better customer treatment and easily available resources for customers without the intention of purchasing through phone.  The controversy regarding unsolicited outbound calls remains a point in discussion, but companies have put serious thought into making telemarketing an enjoyable experience for everyone involved.  

What The Future Holds

The future for telemarketing is bright. With machine learning advancements such as the newly announced GPT-4o that can process audio and images to levels never thought possible before, with automated human-like outbound calls that are empathic and extremely knowledgeable, telemarketing may end up being one of the most sought-after company revenue boosters with incredible potential for growth.