Telemarketing

Definition of Telemarketing:
Eureka being an outsourcing firm provides facility for Telemarketing & Teleservice verticals. Telemarketing is a form of evolved marketing over a telephone. It can be applied to various industries through creative campaigns. Delivering results on telemarketing is achieved in tandem with operational efficiency. It is an efficient medium to reach out to a larger segmented population in a short period of time, which reduces cost compared with door-to-door promotion.

Telemarketing is a dialogue between the promoter (Tele-caller) & cold prospect, which initiates with a prompt to strike a conversation. This interactive dialogue is supported by visualization through choice of words & requires a good sense of instant creativity by the promoter. In fact, the promoter wins over any healthy argument and facilitates a closure of sale. Financial transaction & application form fulfillment makes telemarketing a flexible model for marketing products. Information captured by the promoter on various calls is converted to transactions, which provide a trend & market feedback to redesign marketing communications.

Telemarketing evolved in US around late 1940s & spread to Europe by early 1970s. India experienced telemarketing revolution in early 1990s with the advent of Multinational banks operating on this model. Telephone regulatory authority of India http://www.trai.gov.in/ encouraged privatization in 1990s which saw the evolution of Vodafone, Bharti Airtel, Tata Teleservice, Idea Cellular, Loop, Reliance communication, Aircel, MTS in mobile & landline services within 2 decades. The introduction to International BPO (Business Process Outsourcing) in their late 1990s supported the revolution of domestic contact center towards the beginning of 21st century. The BPO market created new job profile for millions of young challenging generation experiencing as a part of global architecture. The technology breakthrough hit India & it became a mirror image on techniques, skills & knowledge of developed world. Economy of India saw a tremendous upward movement, which supported budding of new cities & towns across pan India.

Telemarketing is benefited by this revolution of Telecommunication, which increased the penetration of telephone or contact opportunities. Telemarketing is conducted with an aid of telephone through manual dialing or computer integrated dialing system known as Dialer. CRM applications support telemarketing to assign, follow-up or closure of a prospect.

Telemarketing process at Eureka is bifurcated into following groups:A) Lead Generation:
B) End to End Sales
Applied across the industry like Insurance, Banking, Telecom, Real Estate, Retail & Others.

A) Lead Generation: The prospect sharing an interest & qualify for the product is termed as a lead. The activity to generate qualified leads is known as lead generation. The product features & benefits are shared with the prospect along with confirmation on the eligibility criteria set for qualifying it as a lead.
The database for Telemarketing is a pre-requisite segment, which match to the demographics required to be able to apply for an insurance policy. Example: Age, Occupation, Work Grade (designation), Gender, Residential Location, Income etc…which pre-qualify for a visit by Insurers representative for presentation of a product. Any unqualified lead will not be eligible for a sales closure though the prospect is interested in the product. Maybe the prospect is eligible for a credit card however not for insurance basis eligibility requirement for applying. The leads are forwarded to the Client who in turn shares it with their field sales officers to meet the respective prospects for a sales closure.

B) End to End Sales: The prospect is explained & convinced on the telephone for buying a product and shares critical information to fill the online application form. The monetary transaction is conducted over a telephone in certain cases through credit card authorization or else a representative meets the prospect for a sales closure and collecting a cheque. This activity as a whole is termed as End-to-End Sales. The telemarketing formula applied in an E2E is a secondary step from lead generation and the Tele-caller officer is considered as a developed Marketing executive. The Tele-caller requires a high level of patience & well equipped with tools & sales techniques to manage prospects query over a telephone. The length of the conversation in an E2E is longer to lead generation and depends on the complexity of Information to be captured on the online application, pricing & product features. This is a most convenient marketing model & preferred by new generation prospects. Tele-callers spending a considerate amount of time in this model develop confidence in their personality & adapt to any challenging assignments.

Operation Department of Eureka OSL performs the functional role of managing the telemarketing activity.