Global outsourcing enables businesses to find partners in various parts of the world to carry out some or even all of their work for financial and operational purposes. Despite the cost-savings associated with outsourcing, a recent study found that only 27% of businesses use it to reduce their own expenses while expanding. 36% see it as a practical way to encourage innovation, and another 37% see it as a chance to meet their overall growth goals.
The most crucial aspect of outsourcing today is that it no longer has the same negative connotations associated with “low cost” that it once did. The concept of global outsourcing and the motivations behind it appear to be evolving along with the world’s rapid change. There are many ways that outsourcing can help businesses today increase their market share.
Global Outsourcing and Market Share
The time when multinational corporations used outsourcing to replace their domestic workers with foreign substitutes is long gone. These days, a large portion of outsourcing is made up of strategic alliances with more specialized providers. Businesses are attempting to close skills gaps in a way that adds value, reduces waste, facilitates processes, and increases efficiency rather than just trying to close a cost gap.
Irrespective of the type of business—or even industry—the skills gap is a notably pressing concern. According to a recent study, up to 10,000 members of the Baby Boomer generation retire each day, and the jobs they’re leaving behind demand more technical skills than those who could take their place. The same study found that by as early as 2025, 3.5 million new manufacturing jobs would need to be filled.
This is why maximizing the gift of global outsourcing should be the goal of companies. There are service providers with trained teams that would deliver great results. They have years of experience, hence, your business doesn’t have to worry about training new staff.
You will be one step closer to accepting clients from uncharted territories if you have the ideal personnel to handle your customer service, marketing, and sales needs.
Reallocating essential resources
Your company can reduce operational costs associated with supporting operations by collaborating with an offshore outsourcing provider. These saved funds can be allocated to the company’s other investments. Marketing is a worthwhile investment option, which our team of marketing and sales units at EmpireOne Contact Center can handle for you. Increasing your digital marketing efforts while removing geographic restrictions will help you spread awareness of your brand.
Managing fewer business operations will free up more time and resources for more crucial business priorities, such as market expansion. With time and money saved, it is easier to devote resources to previously unconsidered business innovations.
Better service delivery
Outsourcing can also help you gain a firm foothold in global markets by turning your customer service department into a promising and profit-generating part of your company. You can staff your customer service desk with agents who can work on variable schedules to serve your customers’ needs around-the-clock by turning to BPO at EmpireOne Contact Center. This implies that regardless of time zone differences, any client from anywhere in the world can contact you at any time.
Engaging a variety of customers.
Utilizing BPO companies that are skilled and experienced in managing tasks like customer service can lead to new business opportunities. You can hire a team of agents who can help customers who don’t speak English by outsourcing to a bilingual or multilingual call center.
A multilingual call center can give you opportunities to strengthen your relationship with your target demographic, regardless of whether you already have a diverse customer base or still plan to enter foreign markets.
Transferring duties to a company you know is capable of performing the job well is one aspect of outsourcing. Additionally, it is a wise move for your company to raise brand recognition among both current and potential consumer markets. This is the secret to business growth.
If you’re interested in learning more about our BPO call center services, customer service, sales and marketing, and outsourced administrative tasks and how they may help you expand your company and boost your profit, get in touch with us right away.