Last year Ravi Shankar, a Harvard Law graduate, administered the 2010 State of the LPO Sector Survey to study business fundamentals of the LPO industry in India at large. The report had (a) profiled LPO firms and (b) sought to understand how they market themselves.[1] Notable findings from the corresponding 2010 State of the LPO Sector Report include:
· Despite strong growth projections, it is a challenge for most LPO firms to attract clients: Why do LPO firms and commentators project strong industry growth, yet firms find it difficult to attract clients? One explanation offered by a plurality of LPO firms is that few firms capture most of the market.
· 2004 to 2007 may have been a “golden age” for starting a LPO firm: Outside of this three-year window, the number of LPO firms entering the industry appears to have fallen. Does this suggest that new entrants are unable to capture market share despite strong growth projections?
· BPO experience helps: In the view of one CEO, BPO companies possess two advantages: First, security infrastructure is in place—both for employees and data. Second, they have experience marketing themselves to an American and British client base.
Informed by the 2010 Survey as well as communication with LPO firms and relevant field experts, the 2011 Survey has evolved to ask LPO firms about their (a) clients, (b) revenue, and (c) opinion of often-cited market analysts. If you are interested please write to Ravi Shankar at IndianLPOSurvey@gmail.com
[1] A full copy of the 2010 Report is available at http://lposavvy.info/downloads/Ravi_Shankars_LPO_Survey_Report.pdf.
[1] A full copy of the 2010 Report is available at http://lposavvy.info/downloads/Ravi_Shankars_LPO_Survey_Report.pdf.
