Electronics care is a new way of providing services to customers through the online medium. Customer care services are an important aspect of any organization; hence, today’s organizations are trying to build electronic channels, customer relationship management (CRM) software, and web portals to gain competitive advantage over competitors. These advancements in technologies have given rise to new e-care and direct marketing programs and proliferation of customer interaction touch points. E-care services are helping organizations to build strong customer relationships, increase brand loyalty, and customer interaction.
In addition, e-care services help organizations to grow faster and reach more customers. Organizations are using a wide variety of offline and online channels to capture a large base of customers. Organizations are trying to interact more with their customers, and more of this interaction is likely to be electronic. This is expected to help the customer e-care service market to increase interaction touch points such as e-mails, call centers, ATMs, kiosks, and traditional retail sites.
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In addition, e-care service provides various benefits such as address large numbers of customer in small time, cost-effectiveness, and greater customer satisfaction. Additionally, technologies such as Artificial Intelligence will automatically read and sort inbound inquires, respond to simple questions, and escalate complex problems or large opportunities to the appropriate humans.
Customer e-care services market has huge opportunity in the coming years due to increase in the customer base and products, and improved services. The E-care service market is an important aspect of organizations because it is crucial to manage online customer interactions for business success. Moreover, e-care helps organizations to reach out to thousands of customers through “e-tailing,” web sites, online advertising, and 24×7 customer support. The Six Sigma process and advanced technology platforms provide competitive advantage to customer e-care service provider companies. Customer e-care companies provide higher customer interaction, retention, and satisfaction.
The major drivers of the customer e-care services market is the growing competition in the market, economic factors, and market pressure which is forcing all companies to provide high customer satisfaction services.
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Growing use of advanced technologies such as machine learning, Artificial Intelligence, and Big Data is a great opportunity for the customer e-care services market to provide greater customer satisfaction and services to customers. Moreover, these technologies will reduce errors, target right customer, improve product margins, and extend customer lifetime value for future growth. However, some restrains are hindering the growth of the customer e-care service market, such as excessive usage of consumer messaging apps and web channels. In addition, customer e-care services are vulnerable to fraud, cyber-attacks, and misuse of personal data.
The customer e-care services market can be segmented in terms of component, application, end-user, and region. On the basis of component, the market can be bifurcated into software and services. Among these segments, the software segment is sub-segmented into on-premise and cloud. Furthermore, services are sub-segmented into customer care, technical support, sales and support, collections, loyalty management, and digital content management.
In terms of application, the customer e-care services market can be segmented into automation, analytics, and web channels. Based on end-user, the market can be segmented into BFSI, retail, telecommunications and IT, aerospace and defense, healthcare, and others (media and entertainment, e-commerce, travel and hospitality). Based on region, the customer e-care services market can be divided into North America, South America, Europe, Asia Pacific, and Middle East & Africa.
Some of the key players operating in the customer e-care services market are Teleperformance SA, Stream Global Services, Convergys Corporation, Sykes Enterprises, West Corporation, Sitel Worldwide Corporation, Synnex Corporation, TeleTech Holdings, Inc., StarTek. Inc., Amdocs, Aegis, APAC Customer Services, Inc., SPi Global, Advanced Contact Solutions, Infosys Limited, Accenture, and Transcom WorldWide.
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.
