Inbound support is the procedure of handling requirements or enquiries from potential clients, vendors, customers, or partners as regards product information, pricing, order, shipping, or related technical assistance. This can be done through various channels, such as chat, website, e-mail, or telephone. Inbound support teams are responsible for addressing and solving all customer queries and enhance their satisfaction through issue resolution. An inbound consumer service facility functions best when it offers customers a single point of contact for all their service inquiries. Currently, customers dial a single number to order products, register a purchase, make a payment, or obtain product information. Additionally, they can make an inquiry or place a support request about a product. The agents or customer service officials responsible for handling the incoming calls must be well accustomed with the technical know-how of their offerings, and have requisite product knowledge so that they can deal with the call efficiently. It might involve solving the query personally or, if required, hand over the call to a concerned specialist. Customers around the world opt for a single point of contact and this is the reason for the proliferation of the global inbound support market.
A substantial number of people prefer to use available toll-free phone lines for their queries and solutions for their difficulties. Hence, most businesses prefer inbound support services for their inbound processes. However, the availability of multi-lingual skilled professionals is limited, and maintaining the standard of service is difficult, which in turn is increasing companies’ cost due to a supply–demand gap. Retaining a steady, consistent, and reliable standard of service at all times can prove costly. The inbound support system must have an optimum number of executives, based on priority, so that customers can get a timely response from the inbound support staff.
As the global B2C scenario is becoming “C” or customer oriented, the global demand for inbound support is poised to increase at a substantial pace over the forecast period. Additionally, more and more customers opt for other media, such as knowledge base, email, or chat. This concept is known as multi-channel inbound support. This sector will provide a sea of opportunity for the global inbound support market. The global inbound support market can be differentiated on the basis of type and geography. According to type, the market is divided into three segments-telephone, email, and chat. Telephone-based customer service held the maximum share in the market and is expected to retain its leading position over the forecast period. This is the traditional approach for inbound support where the customer calls the company with a service demand or a probe, and the concerned person in the company solves the problem or transfers the call to the specific department.
Geographically, the market can be segregated into five regions. They are North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Asia Pacific was the dominant market. Availability of labor at a low cost has given rise to outsourcing of inbound support to this part of the world. Emerging countries such as India and the Philippines led the growth trajectory. Due to this, many inbound support vendors have started operations in this region.
Key vendors in the global inbound support market are Flatworld Solutions Pvt. Ltd. (India), Live2Sell Group of Companies (the Philippines), CMD Outsourcing Solutions, Inc. (the U.S.), and Q 2 Serves Infotech (India). Some other players operating in the market are Invensis Technologies Pvt Ltd. (the U.S.), GizmoSupport (India), Worldwide Call Centers, Inc. (the U.S.), Etech Global Services (the U.S.), and Outsource2alpha (India).
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.