Competing in a Global Market Via BPOs and Telemarketing Services

Reinvent or perish, this is the predicament that most companies have found themselves in. With the accelerated pace of globalization at the turn of the 21st century, old business tools have to be reexamined and replaced in favor of better devices like telemarketing services.

The world becoming a virtually contiguous market, on the one hand, has certainly opened a whole lot of new opportunities. The dismantling of many trade barriers across countries, on the other hand, has made competition broader and keener. Telemarketing services is one business tool that can best address these complementary developments.

Flexible tool from convergence of technologies

The days of the door-to-door salesmen are definitely Jurassic alternatives. The convergence of breakthroughs in various technologies such as telephony and computers has made it possible to reach a wider base of consumers, and at speeds never before experienced. It will be to the advantage of any business venture, whether that of a Fortune 500 or modest start-up firm, to harness the power of telemarketing services.

Telemarketing stands as a flexible tool that more than just introduce a company, its products and it services. It can serve as a vital component of a multimedia campaign that may very well serve as the final sales pitch that will win over a consumer.

Rifling those messages to consumers

Beachheads in the minds of consumers established by such marketing modalities as traditional print and broadcast advertisements can be fully explored with telemarketing services. Telemarketing can easily be molded to target specific market segments, a much more efficient method than the shotgun approach of direct mass media selling.

Well-trained telemarketers can bring personalized interaction with sales prospects. Certain grey areas that were not fully addressed in advertisements can be resolved through telemarketing.. With the highly measurable results it delivers, company resources can then be more wisely expended through telemarketing services..

In addition to the concrete sales results achieved, telemarketing has become an anchor of business enterprises to the hearts and minds of consumers. It has emerged as a valuable tool, for instance, in after-sales services. In so doing, consumer loyalty and repeat purchases can be effectively encouraged through telemarketing services.

The benefits of outsourced telemarketing

Admittedly, cost considerations may hamper a decision to set up an in-house department for telemarketing services. Nevertheless, much of the set-up cost can be reduced by outsourcing this business process to call centers. Business process outsourcing (BPO) ventures, in recent years, have multiplied exponentially with businesses’ want and need for more cost-effective tools to compete in the now highly global marketplace.

Through a BPO partner in telemarketing services, a company can concentrate on its core competencies. Its efforts can stay focused on the manufacture of quality goods or the efficient service delivery of a consumer need. Further market inputs can be built in, and continuously derived, from an outsourced telemarketing system. Putting all these benefits together, a company will have more agility and adaptability which are the prerequisites in order to survive and grow in a global market setting.

Guerrilla Marketing Technology

The advent of the digital age has had a profound impact on the advertising industry. In particular, it has created a wealth of new media for businesses to get their message out to the consumer. This also allows for traditional marketing strategies, such as billboards, to be revamped to meet the expectations of today’s consumer. The guerrilla marketing and alternative advertising strategies of today incorporate a number of different approaches and mediums.

Digital displays are like traditional displays except they transmit messages using light-emitting diode (LED) technology rather than paper or vinyl. Digital media provides advertisers with the flexibility to change messages throughout the day to reach their customers with specific messages during certain times of day. Digital advertising vehicles can be small or large, outdoors or indoors, and are visible day or night. Advertisers can manage their messages using satellite technology, or a dedicated communications line, directly to the display. Many digital networks are popping up all over the country which makes it easy for national advertisers to efficiently use the medium. These networks exist for billboards, elevators, health clubs, gas pumps, and anywhere else people have time to view them.

Bluetooth technology has been used successfully in Europe, and is moving quickly into U.S. markets. The technology is becoming more popular as more Bluetooth-enabled phones are being sold in the U.S. Advertisers attach a Bluetooth transmitter to a message, informing customers to turn on the Bluetooth functions on their phones, and access the content at no charge to them. In some cases, the user does not have to stay connected to the Bluetooth transmitter in order to navigate around the site. Bluetooth technology has been used for downloading music, jokes, movie trailers, and general content.

Radio-frequency identification (RFID) tags or transponders stores and remotely retrieves data. An RFID tag can be incorporated into paper and vinyl as a tracking device for proof of performance for advertisers. When paper or vinyl is produced, an RFID tag can be incorporated during the production process. This tag allows advertisers to track when posters or other displays are implemented in a market.

Projection technology can be used almost anywhere an advertiser wants its message seen. Many successful campaigns have used projection technology on buildings, sidewalks, streets, parking lots, and even on water vessels. Projection technology can save on production costs, and in some cases provide moving images similar to video.

The Global Positioning System (GPS) enables an advertiser to change messages based on location and time. GPS advertising is already in place on taxis, buses and other types of mobile media. Clients can advertise location-specific promotions on a vehicle that travels the entire market. Advertisers have great flexibility with GPS technology. GPS technology can also be used as a type of mobile media proof of performance for advertisers.

Digital ink provides high resolution, full-color, digital displays which are cost effective. The digital ink effect is made from particles manipulated with electric charges reflecting light. Digital ink surfaces look like paper but act as electronic screens displaying multiple images per second. These messages can be controlled remotely at a lower cost than a video billboard.

Online Forex Training – Tapping Into the Global Market For Amazing Income Opportunities

As online access increases and trading technology improves, participation in Forex market trading is on the rise. Online Forex markets are places where you can trade, buy and sell currencies. Those who buy and sell currencies are traders. Anyone can be a trader. Anyone can practice trading, whether it be from a home computer or a professional center.

There is ample training available and anyone with a desire to learn can gain the skills to trade in forex markets. Before you begin trading it’s important that you understand the basics. Winging it, learning as you go, or just jumping in isn’t an effective strategy in this environment. It is a must to have the initial online forex training.

Unlike the stock market, the Forex market never closes. It is open all day every day. Most nations participate at some level in the Forex trading markets. The most popular currencies to trade are the US dollar, European Euro, British Pound, Japanese Yen, Australian Dollar and Swiss franc. At the time of this article, transactions average two trillion each day and this number is steadily growing. Amazing!

Just as with the stock market, you want to buy low and sell high. The idea is to buy a weak currency and sell it when it performs well. Most transactions involve both buying and selling. Your profit will be the difference between what you paid and sold. Fact is, in order to do well on the Forex market you have to be educated. Among the most profitable traders are those who built upon their knowledge of the basics of the Forex markets. Many online Forex training sites offer ample information for traders to take advantage of. The key is to find information most useful to you. During training you will learn how to do this.

Social Media and Global Marketing

“The world is a global village”- turns out to be the driving force behind marketing strategy in the present scenario. Today’s marketers are no more confined to the traditional means of marketing; rather they are maximizing their profits through new technologies. It’s technology that’s deciding ways and means of developing contact between consumer and company. The Mantra that marketers had forgotten many a time that “Customer Is the King” is religiously followed today.

With an amazing increase in the number of people becoming tech savvy, companies are left with no option but to use social media to have easy connection with their consumers. Majority of the population is online for most part of the day and thus it gives broader horizon for company to reach their consumers directly. It also provides a big platform for consumers to get their queries and complaints conveyed to the companies at just a click. Hence, today companies are using Social Media as their first choice for advertising their products and getting direct reviews and opinions from their target audience.

The products are now not pushed into the market as was the case in yesteryears; rather the marketers have to really pull their consumers towards their products. The “Pull Strategy” of marketing is what’s ruling the market today; resulting in close proximity between the buyer and the seller. Also a chance of misleading the consumers is also minimized. This has provided customers with immense power.

Social Media being the new marketing tools the companies are trying their level best to ripe maximum result out of it. But at the same time it’s important to understand the pros and cons of using this channel. The dynamics have to be understood well so as to use it for optimum return. One of the major concerns is the knowing the target base. Social Media caters to varied sections of the population with differential needs, psychology and demography. To match up to such a wide customer base companies have to really think of Universal Approaches so that they can strike a chord. Marketers have to design their strategies in a way that’s acceptable by all sections all over the world. This has led to out of the box thinking by companies today. Each company is trying to woo this dynamic consumer base. This has opened up new avenues for Creative thinking and approaches which are really different.

In return companies are getting loyal customers and a direct relationship is established between buyer and the seller.

Globalization & Management

Everyone is today concerned about globalization. Love it or hate it, globalization is here to stay! Even political parties that are left behind are willy, nilly forced to admit that it is a phenomenon that is well and truly out of the bottle ! Technology has done what ideology could not : unite us all into a fraternity of interconnected and interdependent communities.

How do traditionalists deal with such a new world order ? The short answer is that they cannot because their analytical frameworks are incompatible with current realities. Moore’s law for example, has ensured that the frontiers of knowledge are constantly expanding. The law postulates that the density of information that can be packed into a computer chip doubles every 18 months or so. This means that computing power is doubling every 18 months thereby enabling undreamed of advances in science, technology and knowledge in general. Who would have thought that it was possible to unravel the mystery of life by cracking the hitherto undecipherable genetic code ? Perhaps the best is yet to come because the pundits expect Moore’s law to be valid till the year 2017 when the limits of computing as we know it would be reached. That’s when sub-atomic computing is expected to take over and keep computational power growing.

All this inevitably means that human beings are getting even more connected every day. Some observers are convinced that the greatest technological marvel of the last century was not the computer chip but the Internet. This is in turn means a networked and therefore globalized world. So, to us in India what are the implications of globalization ?

Change is always open ended so its hazardous to venture into predictions. However, to me, some implications of globalization for management are clear.

Firstly, globalization means a convergence of standards. Therefore, parameters for quality and performance are now not related to our local conditions but to the global norms. This is simply because the markets are global. Therefore, success in these markets demands delivery of global standards, nothing less. There is no hope for any product or service or indeed any organization that does not adhere to global standards even if they are being produced for Indian markets. After all even the Indian markets have gone global because the barriers to entry have been cleared in virtually every industry. The lesson is clear: you cannot survive with lower standards because your competitor is offering global standards to your customer.

Convergence of standards is undoubtedly an effect of technology and competition but it is also equally being driven very proactively by several high power global institutions. For example, the WTO is fostering a transparent rule-based global trading system. The Bretton Woods twins, World Bank and the IMF, are ardent advocates of prudent economic development, trade , fiscal, monetary and other macroeconomic policies; while their prescriptions do not always find ready acceptance or relevance in every country, they are respected sources of research-based advice on sustainable development. The Bank for International Settlements is actively crafting the standards for the global banking industry while the International Standards Organization contributed norms for globally accepted standards for quality (ISO 9000 series) and environment management ( ISO 14000 series).

Secondly, productivity growth will accelerate in India because of the pressure of competition. This will ensure that the laid back approach to work is over, the number of holidays will be slashed and the proliferation of computers across India will accelerate. This is turn will fuel all aspects of the knowledge economy: education, training and services. Though it is fashionable to talk about the global market for software, I am convinced that a significant part of that market is right here in India. The need to increase productivity in every segment of the economy will spur a huge growth in the Indian software industry.

Thirdly, profit margins will narrow to global levels. It is now futile to expect that the usurious margins of the past (20 to 50 %) to continue. Competition from global players in the now opened Indian market has eaten into the traditionally high margins. Soon, companies will have to learn to operate at net margins of around 5 %. Already interest rates have fallen and the benefits have passed through to customers in the form of stable or lower prices. Profitability will now have to come from lower costs from higher volumes and productivity gains. The possibility of raising prices frequently is now more or less like a mirage in the desert. This global reality however does not appear to have sunk in among the ownership and top echelons of management in many companies in India.

Fourthly, if globalization teaches us anything, it is easy information availability and its effect : transparency. Leaders in politics, corporate boardrooms and markets can no longer hide behind opaque shields. Internet, email, data archiving and convergence have ensured that everybody has access to almost everything. For India, the hope of decreasing corruption is now brighter than ritual, moralistic pontification by the pseudo leaders: all the shenanigans will be listed in the public domain and neither the power of the state nor the power of money can stifle the stink. Open societies and the Internet mate to father transparency. Therefore corporate governance, governance by government and compliance all become de facto standards.

And finally, globalization offers the real possibility of improving quality of life for our people by arresting if not reversing the continuous migration from villages to cities. This can happen when the Indian economy becomes not an agricultural economy or an industrial economy but a knowledge economy. We can create the possibility of people earning comfortable livelihoods in their own villages and communities. Therefore, universalization of IT literacy has now to be attached to universalization of primary education. There are very few justifiable subsidies left. However a provision for a subsidy for connectivity and IT literacy in the Union Budget is an idea whose time has come. Surely, this is an investment that will have a huge ROI in the future. After all globalization is all about creating the future!