Comparative analysis of telemarketing concept in the different industries of Bangladesh: focusing on telecom & banking industry

Abstract

The main objective of this study is to explore the emerging practice of Telemarketing in the different industries of Bangladesh. As this is the first comprehensive study of telemarketing concept from the light of different industries in Bangladesh it is mainly exploratory in nature. Throughout this study it has been tried to understand how telemarketing is used in the different industries of Bangladesh especially in the telecommunication industry and banking industry, what is the procedure of conducting these operations and what is the customer responsiveness regarding telemarketing activities towards them. In investigating these questions, a mixed analysis has been conducted. In total 5 organizations have been surveyed and some of the top officials of those organizations have been interviewed. The results of the study show that Telemarketing has been mostly used by the Telecom industry and Banking industry mostly. Mostly they use telemarketing for giving information and providing customer feedback to the curious customers (inbound telemarketing) and giving call to persuade them to buy their product or services. Banking industry offers Loan, credit card, mortgage loan, product offerings through this and telecom industry offers several packages and VAS to the prospective customers. No matter what industry it is telemarketing has been used to provide complete customer care and increasing sales. Employees’ performance depends upon achieving their prospective sales target. Customer perspective survey both from institutional and general customer point of view indicates that although they are quite familiar with the term but they have few understandings regarding its uses. They believe that telemarketing can increases customer loyalty and brand value if it is used effectively and properly. The study concludes that Telemarketing is preferred due to cost effectiveness, easiness and good possibility to target. However, it has disadvantages of negative responses, not answering call, not finding the right people and complexity.