Since I enrolled on a platform selling insurance policies, I’ve been getting 2–3 spam calls a day. Earlier it was close to 3–4, but it has reduced in recent times. This is when I started blocking phone numbers on True Caller, which I had been using to identify callers.
This is a common problem. In a recent True Caller report, it said that an average Indian gets 22 spam calls a month. This number is 36 in Brazil. TrueCaller identified 31Bn+ spam calls in 2020 alone. No wonder why out of 200Mn users, 150Mn of its users are in India. Though with 1Bn mobile phone subscribers in India, this number is not too surprising.
Now, why are spam calls such a pain ?
Irrelevant
For relevance, it is important to see the right thing at the right place and right moment. Often marketing calls(termed as spams) fail at 1 or 2 of these.Insufficient Information
Depending on the product and the buyer, the information required for purchase could vary. Insufficient or incorrect profiling of the customer leads to wastage.Repetitive
Seriously! Many companies keep calling even after indicating you are not interested.
Who is making these spam calls?
52% spam calls came from operators while 34% from telemarketers.
So if spam calls are that annoying, why do businesses still make it ? Because it is simple, and if targeted well, cold calling still leads to decent ROI as a marketing channel. Think probability! As the casino knows that the more time a player spends in the casino, higher the chances of the casino winning. Similarly, the more cold calls made, higher the chances of converting.
Ok. So now we know the perspectives of the two main stakeholders here — business and the prospect.
What about True Caller ?
Caller ID and Spam Blocking are the primary attractions for True Caller. And it seems they are doing well in the spam game.
The Spam Game
More spam calls means more demand for spam blockers
More users using spam blockers means more businesses looking to differentiate
‘Truecaller for Business’ provides exactly that — ‘verified business’ or ‘priority call’ badge.
But ?
Preinstalled applications
Improved awareness of existing DND solutions such as TRAI app, operator specific apps
Reduction in cold calling (a little far fetched ?)
All of the above could impact growth.
All of the above could lead to lower spam calls, leading to shrinkage of the market. Which is why Truecaller is diversifying into Fintech and Messaging.
Buil
Sources
https://techcrunch.com/2020/12/07/spam-calls-grew-18-this-year-despite-the-global-pandemic/
https://qz.com/india/1497572/telecom-firms-make-most-spam-calls-in-india-says-truecaller/