New analysis from Frost & Sullivan (contactcentres.frost.com), North American Outbound Dialing Market, finds that the combined total market earned revenues of $267.7 million in 2007 and estimates this to reach over $522.0 million in 2014.
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Retention strategies become more important as businesses distinguish themselves by delivering excellent customer care. There is also an increased emphasis on up selling and cross selling. To replace legacy dialing systems, enterprises seek out fully integrated outbound/blended solutions that integrate seamlessly with existing telephony infrastructure and offer multi-channel contact capabilities.
"A trend that we observe among outbound centers in North America, is for firms to use creative ways to enhance the customer experience through high quality interactions," says Frost & Sullivan Strategic Analyst Michael DeSalles. "This type of customer 'touch point' is becoming more relevant with multimedia-capable solutions."
Overall, there is a significantly greater market opportunity for recurring revenue and excellent margins in hosted solutions. In particular, there is a high demand for automated outbound notifications, alerts and value messaging.
Targeted outbound calling and messaging are also key to expanding company value and branding among existing and newly acquired customers. With businesses today wanting to concentrate on delighting customers and not worry about IT infrastructure and maintenance, outbound dialing products vendors compete to provide customer care, through live agent or agent-less notification.
Vendors have also started promoting unified solutions that support both blended agent populations for inbound and outbound campaigns over stand-alone dialing products.
"The customer interaction channel in a contact center is no longer limited to voice, but extended to e-mail, chat, short messaging services, and more," observes DeSalles. "The integration of inbound and outbound dialing is vital to successfully complete calls to the right agent at the right time, especially in the lucrative third-party collections segment."
Small- and medium-sized businesses increasingly move to hosted outbound offerings due to their low upfront cost, fast implementation, and attractive 'pay-as-you-use' pricing model.
As such, hosted vendors with professional services and engineering teams, which enable faster and more efficient customized enterprise integrations, will have a distinct edge in the market.
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North American Outbound Dialing Market N2E9-76