Starting a company for the first time can be complex, and it requires a lot of energy in order to be successful. If you take a calculated approach when just starting out, your business can gain many benefits.
There are many advantages that come with hiring call centers for your company, including saving on costs and offering a better service to customers. Make sure you choose the right call center so your business can handle customer calls effectively.
Last year, J.C. Penny aired a TV ad that’s quite uncharacteristic for the retailer. For the first time ever, its commercial was blatantly geared towards a Latina market. Why is one of the most All-American brands suddenly making a play for Hispanic consumers? Because it’s one of the fastest growing segments in the market. According to research firm Nielsen, U.S. Hispanic buying power topped $1.5 trillion in 2015 alone, up by 50% compared to 2010.
The time is perfect for companies to target this market, if they haven’t already. According to research from One Hour Translation, consumers are more likely to buy from a website that uses their own language. Second, catering to the Hispanic market conveys the image that your brand understands and values cultural diversity. And third, a lot of companies have already gained great results with such strategy (e.g., grocery chain Vallarta Supermarkets).
As people say, there are only two certainties in life: taxes and death. So, it’s not surprising why many Americans buy insurance policies to protect against unforeseeable tragedies. The U.S. insurance industry is the largest in the world, valued at $1.2 trillion as of 2015.
As a country boasting one of the largest Hispanic populations in the world, the U.S. relies on that market segment to generate a considerable amount of revenue. According to census data, about 17% of all American citizens possess Hispanic roots, equating to about 52 million people. Since the median age of this demographic is just 27 years old–a full 10 years younger than the general population–Hispanics are particularly lucrative prospects.
As a result, companies have invested a lot of money into reaching out to them. From bilingual websites to Spanish-language ads, insurers are going all out to land these coveted clienteles.
Here’s some news that the Hispanic community will certainly be proud of: According to a joint report by the Partnership for a New American Economy and the Latino Donor Collaborative, the number of Hispanic entrepreneurs in the country has grown tremendously over the last two decades, ballooning from just 577,000 in 1990 to over 2 million in 2012.
In fact, so big is this growth that the number of Latino entrepreneurs grew by 71.5% despite the last decade’s recession, while the number of U.S.-born, non-Hispanic entrepreneurs dropped. Even better, this trend poses a positive impact on the economy; as more businesses are established, more job opportunities arise.
Fortunately, today’s Hispanic businessmen have plenty of successful compatriots to look up to, such Betro Perez, founder of Zumba Fitness, and Maria Contreras-Sweet, founder of ProAmérica Bank.
If you own a business, you’ve probably heard of outsourcing. These days, companies outsource a lot of non-core functions to save money and improve profit margins.
There is no denying that it’s popular. Since the early 2000s, outsourcing has generated trillions in revenue. However, a curious trend has taken over the industry. In 2014, BPOs generated around $100 million in revenues; in 2015, that number fell to just $80 million. Why has this mammoth industry suddenly lost 20% of its value?
Of course, no one factor can account for such a huge drop, but more and more companies are starting to recognize outsourcing’s limitations as it exists today. Perhaps the biggest issue is geography, which can wreak wide-ranging effects on quality of customer service.
When it comes to maintaining communications with customers, it pays to have help from a company that specializes in this field. Outsourced call centers can support you in bringing your business to a new level. Below are some business advantages offered by call centers:
Owning a company today comes with all sorts of challenges, such as acquiring customers and gaining a competitive edge. When first starting out, you can put your best foot forward by focusing on specific aspects.