Showing posts with label International Market. Show all posts
Showing posts with label International Market. Show all posts

Is Time to Fire Your Call Center?

Monday, August 24, 2009
Over the last decade call centers have become the anonymous faces of business. And though the call center business has grown by leaps and bounds the problem remains- the ANONYMOUS FACE. Inspite of personalization of call center scripts customers can instantly make out that the customer service representative from the company is actually from a call center.

Call Center Services have grown tremendously in the last decade. The reason is that companies are saving on the bottom line by cutting costs and outsourcing this work by opting for these services. The CCS faces a lot of challenges which surrounds customer experience. If you try find respond of customers of CCS, only one-third of them register positive responses! The agents have to shoulder responsibility not only to sell the products of the company but also establish brand equity for it through various channels. Some of the common problem of these services is high employee attrition, absenteeism, inconsistent answering performance and poor call quality. An often carefree attitude within a call center directly affects the overall performance of the call center.

A few of the service complaints of CCS are failure to resolve customer problems in one call, accumulation of clutter in reaching the appropriate representatives or to qualified supervisor if the problems not solved within five minutes of calling, failure to create credit among the customers especially in outsourced customer care centers. First of all, do not treat your CCS as cost cutting centers. Do not cut on training and quality control measures. In your haste to cut the cost you will lose on quality services to your customers and lose reputation and ultimately revenues. Improving the functioning of your call center must include these- efficient deployment and use of labor, effective leveraging of technology, capacity management, and demand management.

Coming to the internal functioning of CCS, there should be absolutely no lack of communication among the agents and customers. Only communicating through e-mails is not enough. It is easier and cost effective nowadays to be in touch trough the internet. Provide your account manager with as many voice interactions with the customer. Language and cultural difference of the customers is another problem in CCS. This problem needs certain contact points between the customer and service providers make way for smooth execution of any project. The offshore CCS has more problems with the accent of the customers. In this case it is advisable to go on a Live Chat. If any target is missed by the service providers, the party that will decide on the payment withholding needs to be defined frankly. This will assure that the service providers will never make frequent errors and will be extra careful.

The CCS should take extra care to keep its customers updated on a weekly basis. They should always feel they have got track of their project. It ensures less errors and hassles at the time of project delivery. Call centers generally lack leverage to invest in innovative technologies and strategies. Using knowledge base applications helps in managing the information load and keeps the agents up-to-date on the latest marketing based promotions. There are many communication applications such as Voice of the Customer (VOC) which helps to make the workforce more effective and reduce cost.

Greater effort should be make to encourage customer feedback through prompted questions and unstructured feedback which is then mined using speech analysis. You must absolutely make sure that your agents do not type when they are talking to the customer or take multiple calls and talk to more than one customer at a time. This will ensure that the agent is actually listening to the customer and 100% attention is given to the customer. Ongoing alignment is necessary because expectations are a moving target. Innovations, competitors' moves, and economic and social trends are some of the forces that cause continual morphing of customers' expectations. CCS is a consumer-centric business; this should kept in mind all the time.

All Call Centers should make themselves well equipped for call floods. At such times it happens that the calls are routed to inexperienced agents and results in consumer dissatisfaction or even frustration. Be pro-active and invent solutions for any imaginable situation at your center; make a strategy and develop a call routing strategy and test them in advance to cope with the actual problems when they arise.

There are many technical solutions available such as extension of voice of the customer program. You may also establish a call handling service, which would report about out of the service phone lines before the customer does! Make sure your agents can flag problems (such as slow pop-up windows or poor voice quality) during a call. If the quality has already deteriorated, it is no use rectifying the technical lapse later. You should also pay attention to forbid any fraud perpetuated by the agents which might involve false representation of data. There should be constant detecting of problems of the IVR systems.

The agents too need to have some fun and relaxation sessions. The call center management and employees should stay current all call center news and trends. Subscribe magazines or create a library shelving books and reports for the employees whereby they can increase their knowledge and skills. All this help in planning a customer service program that works for both their employees and customers. You will be able to address the customer needs all the time and making them happy even though they may not satisfied with the product or service. You may also subscribe to newsletters and whitepapers for the knowledge growth of the members of your Call Centre.

Customer Communications Group Joins Forces with Pluris Marketing

Friday, August 21, 2009
Customer Communications Group, Inc. (CCG), a full-service customer relationship marketing agency, and Pluris Marketing, a provider of multi-channel marketing solutions that optimize the value of each consumer engagement, today announced the formation of a strategic partnership to provide marketers with the groundbreaking promotions optimization solution, COMP. COMP, the CCG Optimized Marketing Platform, drives traffic from a business’ most profitable customers with minimal impact to resources by combining engaging customer content with Pluris’ proven real-time data analysis and sophisticated modeling.

"COMP is all about making customer-centricity easy for our clients, and Pluris brings to the table a high-functioning, real-time optimization technology that is simply unequaled in the industry," said Sandra Gudat, President and CEO of CCG.

The partnership idea between the two companies began when Gudat and Pluris Marketing’s Senior Vice President, Bob Fetter, had a conversation about the state of traditional segmentation and offer versioning. Both knew they had complementary resources for a one-of-a-kind promotions optimization offering.

"The match between CCG and Pluris seemed like the perfect combination," Fetter said. "We knew that both CCG and Pluris Marketing clients needed a better way to produce highly targeted, relevant communications. Many of our clients understand that more than half of all of their promotions were disproportionately reducing margins on generated revenues."

Gudat agreed. "This partnership allows us to meet a need that’s been growing in the marketplace for some time. And now, because of the current economic climate, that need for an ROI-based, seamless optimization offering has grown exponentially."

The COMP product will reduce the time needed to gather customer data, analyze it and respond to it with a customized offer from more than six months to less than one day.


I have to leave now as I have to catch the news of Soccer 2010 World Cup

Cisco profits fall 46% but beats forecast

Friday, August 7, 2009
Cisco profits, Interest Rates, International Market, Business Ideas, Business Growth,

Cisco Systems said on Wednesday that earnings fell 46 per cent in its latest quarter, but the profit beat Wall Street expectations. Cisco chief executive John Chambers said business conditions were improving for the world's largest network equipment manufacturer but he cautioned that it was too soon to call a recovery, dragging its shares down 3 per cent.

'We saw a number of positive signs this quarter in the economy and in our business,' Mr Chambers said in a statement. He added that if trends keep improving, there's a good chance the latest quarter was a 'tipping point'.

'While this is a very important trend, I would want to see the sequential trends continue for several more quarters before we'd be comfortable with saying that we are returning to normal business momentum,' he told analysts on a call. Cisco is one of the first large-cap technology companies to report results that include sales from most of July, making it an early indicator of trends in technology spending. Cisco has seen sales hit hard as clients delayed investments and capital improvements. However, good profit margins and a large pile of cash have helped it ride out the downturn.

Cisco profits, Interest Rates, International Market, Business Ideas, Business Growth,

The company posted a profit of US$1.1 billion, or 19 US cents per share, for the fiscal fourth quarter, which ended July 25. That was down from US$2 billion, or 33 cents per share, in the same quarter last year. Sales fell 18 per cent to US$8.5 billion. Excluding the cost of stock-based compensation and other items, Cisco's earnings were 31 cents per share. Analysts polled by Thomson Reuters were expecting earnings of 29 cents per share on US$8.5 billion in revenue. Cisco's revenue outlook was mostly in line with Wall Street's expectations and profit for the July quarter exceeded forecasts. But the CEO's cautious remarks disappointed those who sought a stronger declaration that global technology spending was on the mend. Analysts said his comments made sense amid mixed economic data, but likely let down investors who have been betting on a recovery in technology demand. 'When he qualified that statement and said we've got to wait and see for several more quarters, I think maybe that was a little more conservative than what the Street wanted to hear,' said Ronald Gruia, an analyst with Frost & Sullivan.

Cisco said it expects fiscal first-quarter revenue to fall by 15 to 17 per cent from a year earlier. That was in line with expectations for a drop of about 16 per cent, according to Reuters Estimates. That outlook represented a quarter-on-quarter rise of one to 3 per cent, a key improvement after a steep quarter-on-quarter decline in sales earlier in the year. Many analysts, including RBC Capital Markets analyst Mark Sue, saw the results and Chambers' comments as positive.

'The confidence from increased bookings and orders should be welcome news to long-term investors,' he said. 'Things are improving even though I don't think John Chambers wants to wave a green flag just yet.' Shares in Cisco initially rose about 3 per cent after its quarterly results slightly beat expectations and Mr Chambers said in an earlier statement that he saw 'positive signs' in economic and order trends. After Mr Chambers' comments on the call, the stock backpedalled to US$21.51. Cisco shares had closed at US$22.17 on Nasdaq.

New Sony e-book reader $100 cheaper than Kindle

Wednesday, August 5, 2009
Electronic books are often mentioned in the same breath as Amazon.com Inc.'s Kindle digital reader. Now e-book rival Sony Corp. is determined to recapture consumers' attention with a smaller reader that's also $100 cheaper. On Wednesday, Sony is expected to announce that it will release the Reader Pocket Edition by the end of August. Like the Kindle and Sony's previous Readers, the Pocket Edition will come with an "electronic ink" display, which shows dark gray text on a lighter gray background. As the word "pocket" implies, its five-inch screen will be smaller than that on the Kindle and other Sony models.

Unlike other Readers, the Pocket Edition won't play digital music files, and it won't have a slot for a memory card to supplement internal storage that can hold 350 books. It will retail for $199, a third off the price of the basic Kindle model and about $80 less than Sony's PRS-505 reader, which will be discontinued. Color choices include blue, red and silver. The device is entering a small but growing market. U.S. e-book sales totaled $113 million last year -- up 68 percent from 2007 but still a fraction of the estimated $24.3 billion spent on all books, according to the Association of American Publishers.

Steve Haber, president of Sony's Digital Reading Business Division, expects the Pocket Edition's price tag will lure new consumers who haven't wanted to shell out for such a device thus far. And he's not worried that the Pocket Edition's chances for success will be diminished by the rising popularity of reading e-books on smart phones like the iPhone and BlackBerrys.

"Once you see it, it's been a consistent response of, 'That's cool,'" he said. Sarah Rotman Epps, a media analyst at Forrester Research, said the Pocket Edition's price below $200 breaks an important psychological barrier.

"This is something that is affordable for the holiday season, and I think that you'll see sales of e-readers outpacing current forecasts," she said.

Her current forecast calls for sales of 2 million digital reading devices this year; she said a little more than 1 million were sold by the end of 2008.

She doesn't expect Amazon to rest on its laurels, adding that the online retailer will have to respond to counter Sony's new price point.

Sony is also announcing on Wednesday the release of a $299 touch-screen model to replace its existing $350 touch-screen PRS-700. The Touch Edition will have the same six-inch (15-centimeter) screen as its predecessor but not the PRS-700's built-in light. Haber said removing the light will correct some screen clarity problems it has caused.

With the PRS-700, users can highlight text and take notes with a touch-screen keyboard. On the new model, users also can write notes with a finger or a stylus that is included.

The new model has a built-in dictionary and is faster at changing pages when readers swipe a finger across the screen. It will sell in red, silver or black and can hold 350 books in its built-in memory or more on a memory card.

A big difference between Sony's Readers and Amazon's Kindle has always been the lack of wireless access for quick and simple downloads of books. The new models are no different: They have to be connected to a computer to acquire books.

For the first time, they will be compatible with PCs and Mac computers, though. Sony will offer current Reader owners a software update to make theirs compatible with both.

As he has indicated in the past, Haber said Sony is working on a wireless model, though he wouldn't say when.

Sony also is adjusting prices to some of the e-books it sells through its online eBook Store. New releases and best-sellers will now sell for $10, $2 less than current prices. Amazon's Kindle Store offers most best-sellers and new releases for $10.

Sony's eBook Store includes more than 100,000 books, as well as a million free public-domain books available from Google Inc. through its Google Books project. The Kindle Store currently has more than 330,000 available titles.

The Kindle can only download books from Amazon's store, while Sony's Readers can display texts sold in the "epub" format -- an open standard supported by the International Digital Publishing Forum that numerous publishers use to make e-books.

RBI plans to policy rollback

Saturday, August 1, 2009
The Reserve Bank of India (RBI) could look at rolling back its expansionary monetary policy, which it started as the nation's economy was hit by the global financial meltdown and a local industrial downturn. "The current monetary and fiscal stance is not the steady state. The Reserve Bank needs to roll back the special monetary accommodation," RBI governor Duvvuri Subbarao said in his JRD Tata Memorial lecture organised by the Associated Chamber of Commerce and Industry (Assocham) on Friday. However, RBI will continue to pursue an accommodative monetary policy until economic conditions improved, he added, while signalling a need to reverse expansionary policies. The challenge for the Reserve Bank was to maintain a comfortable liquidity situation while at the same time anchoring inflation expectations, he added.

Subbarao said that the increased fiscal deficit, which the Centre this fiscal year projects at 6.8 per cent of the gross domestic product, would pose "more than a proportionate challenge" on the monetary side.

Subbarao said that the monetary stimulus from the central bank came through a sharp reduction in the policy interest rates and the cash reserve ratio (CRR) - the share of bank deposits that must be kept as cash with the RBI by commercial banks - and a lower statutory liquidity ratio (SLR) that requires banks to park funds in specified bonds.

Pune, Ahmedabad, Chandigarh may spin miracles

Thursday, July 30, 2009
Projecting India's small towns and cities as better investment destinations, an Indo-UK trade body said Pune, Ahmedabad and Chandigarh among others are more likely to produce economic miracles on the back of a growing middle-class.

Business Growth, Business Ideas, Business Tips, Indian Business, Indian Market, International Market, Pune BusinessPune IT Park

India is increasingly seen as a source of value-added goods and services and an important business partner, the UK India Business Council (UKIBC), which promotes trade between the two countries said in a report released here.

The report, "Emerging Cities of India", identifies Pune, Ahmedabad, Chandigarh and Jaipur as the top four emerging cities followed by Vadodara, Goa, Indore, Kochi and Nagpur.

While India's urban giants may dominate the business agenda in the short-term due to the sheer size of their human capital clusters...We believe it is the country's lesser known small towns and cities that are more likely to produce the economic miracles.

Tips to grow your business

Finding new customers is an expensive business which is why it pays to invest in hanging onto your existing clients. Good service can also give small companies a lead over their bigger rivals. Great service can do wonders for your business.

Talk to your customers Business Growth, Business Ideas, Business Tips, Customers, International Market, Marketing, Sales

Research shows that businesses spend six times as much on recruiting a new customer as they do on retaining an existing one. Every business - no matter how small - should have a strategy for dealing with customers. Listening to customers can help in all areas of your business from developing new products to finding out more about your competitors.

  • Decide how and when to communicate with customers - by newsletter, telephone, e-mail or questionnaire, at point of sale or delivery, or as a post-sale follow-up;
  • Encourage staff to record feedback from customers;
  • Keep talking to your customers - their opinions will alter over time;
  • Tell customers of any important changes that will affect them. If you warn them of a possible problem in advance they will be able to adapt more easily.

According to the Government's Small Business Service some of the things customers find most annoying include:

  • Talking to a recorded telephone message, being held in a queue or paying premium rates for advice;
  • Having their consumer rights ignored - such as being refused a refund for faulty goods;
  • Bureaucracy;
  • Rude or over-friendly staff - both are equally irritating;
  • Staff who refuse to tell you their name;
  • Broken promises;
  • Inflexible delivery times.

Let staff take control

Have a measurable standard of service and make sure that staff work towards it. Invest in training so that everyone is aware of the importance of customer care. Remind staff to put themselves in the customer's shoes: would you like someone you've just met to call you by your first name, how would you feel if your order went missing?

Encourage employees to use their initiative and let the rest of the business know when something has worked well - or if it hasn't. Taking immediate action - for example sending a disgruntled customer a bottle of champagne - can prove more cost-effective than waiting to write them a formal letter

Reliability is good for fashion business

Wednesday, July 29, 2009
fashion business, International Market, Sales, Marketing, Customers, Business Ideas, Business Growth, Reliability is good for business - 1,000 brands from 26 countries present their 2010 Spring/Summer collections at the 13th CPM – Collection Première Moscow Strong demand for information still present in Russian garment retail Attractive sales markets with potential are more in demand today than ever before. This also applies to the international garment industry.

Russia is still among the countries that look forward to a bright future based on the economic forecasts. Russia experts agree:Anyone wishing to benefit from tomorrow's economic upswing should lay the fundamentals for his business today. With their first participation at the 13th CPM – Collection Première Moscow, the German premium label Marc Cain delivers a clear statement to the Russian market: 'Marc Cain is betting on markets with potential," explains Distribution Director Norbert Lock. "While we do already have numerous customers in Russia, it is a good time to expand our customer base. We are swimming against the current. Russia remains an important market and CPM is an ideal platform for presenting our label and reaching out to new customers from across the country."