Market background

Over the last 20 years or so, British financial institutions have been active in setting up call centres to handle high volumes of telephone traffic. They have also been active in contracting with external suppliers for the provision of business services which were formerly provided by internal departments; in other words, outsourcing. In more recent times, they have started to obtain some business services, both from external suppliers and internal departments, from overseas locations; in other words, offshoring. In recent times too, they have shown some interest in expanding the role of call centres beyond their original purpose.

There is often a link at both the strategic and the operational levels between these strands of activity. Some of the manifestations of the resulting business systems are apparent to the end-consumer. For that reason, the end-consumer forms perceptions related to such business systems. The formation of those perceptions is very directly concerned with the development of institutions’ brands. Changes in consumer opinions and brands, even when they do have their origins in business-to-business markets, are at the core of the value delivered to its clients by Mintel and so form a proper subject for Mintel’s Finance Intelligence series.

About Mintel’s research

On the face of it, Mintel’s report appears to cover a business-to-business market; however, there are some very important consumer aspects which make this investigation entirely appropriate with reference to Mintel’s normal lines of enquiry and analysis of consumer finance markets.

Containing exclusive consumer research and market analysis, this report has been designed to provide the strategic marketing manager with a tangible framework for understanding how the call centre experience may strengthen or undermine brand credibility.

Use Mintel’s report to:

Understand the rationale for examining the call centre, offshoring and outsourcing markets

Assess the market’s drivers, size and major players

Gain a unique insight into the views of market participants

Discover consumer attitudes towards the concept of call centres vs. the high street branch, as well as the various aspects of the call centre experience

Pinpoint targeting opportunities within key consumer groups

Monitor the impact of call centres consequences for brand management

Forecast future market development.

Intriguing findings:

As many as 300,000 people could be employed in financial services call centres

More than seven in ten consumers do not want to speak to an overseas call centre, rising to eight in ten affluent consumers

Over a quarter of consumers are irritated by missing menu options