Research paper forecasts losses to illicit robocalls to grow 21% in the next four years
Transaction Network Services (TNS) and Juniper Research today released a whitepaper report that calls on the hospitality industry to address the damage done by unwanted robocalls by introducing branded calling for its customers.
The whitepaper, ‘How the Hospitality Industry Must Tackle Call Spoofing & Robocalling’, examines robocall volume in America and the impact of these unwanted calls on the hospitality industry. The paper also studies how branded calling solutions are helping hospitality executives and leaders across sales, marketing, customer service and call center operations enhance their brand reputation and improve customer engagement. It is available for download here.
Juniper Research provides a holistic look at the extent to which fraudulent scam robocalls are undermining trust in the voice channel. While STIR/SHAKEN and aggressive regulatory efforts helped to drive robocall volume down 11% last year, bad actors are still targeting consumers. Juniper Research forecasts that the total fraudulent losses to illegitimate robocalls are expected to increase by 21% globally between 2023 and 2027 – rising from $58.1 billion to $70.3 billion over that period.
“Travel and entertainment spending is eclipsing pre-pandemic levels, straining hospitality brands that seek to deliver a superior customer experience,” said Sam Barker, Vice President of Telecoms at Juniper Research who authored the whitepaper. “Our Report on the current state of robocalls and benefits of branded calling delivers valuable market intelligence that hospitality firms can use to their competitive advantage.”
The constant threat of these nefarious bad actors and the overwhelming amount of robocalls has eroded consumer trust in phone calls: 75% of consumers never answer calls from unknown numbers. Robocalls have been particularly challenging for the hospitality industry, which relies on the voice channel for customer communications that are often time-sensitive. To restore that trust, businesses have sought out new technologies that can digitally transform the voice channel.
“This whitepaper effectively lays out how robocalls are upending high-touch industries like hospitality that rely so heavily on the voice channel,” said Jim Tyrrell, Vice President of Enterprise Product Management for TNS’ Communications Market business. “In collaborating with Juniper Research, our goal was to demonstrate why branded calling presents a unique opportunity for hospitality executives to drive improve call answer rates and engagement for their brands by presenting consumers with valuable incoming call information they can trust.”
TNS and Juniper Research will be hosting a webinar on July 12, 2023, to further examine the potential of branded calling solutions. Juniper Research’s Sam Barker will be joined by Jim Tyrrell, TNS’ Vice President of Enterprise Product Management, and Shelley Dunagan, Senior Director of TNS Enterprise Branded Calling Sales, for that discussion which will focus on the healthcare industry. Register for the webinar here.
For more information on TNS Enterprise Branded Calling, visit https://tnsi.com/enterprise-branded-calling/
About TNS
TNS, a market leader in call analytics and robocall mitigation, provides an end-to-end ecosystem for protecting and restoring trust in voice. TNS addresses the full needs of wireless and wireline operators globally with TNS Call Guardian® the industry-leading call analytics solution that protects subscribers from high risk and nuisance robocalls. In addition, its Enterprise Branded Calling solution is the core component of its Identity Analytics Suite that is taking the next step in enriching consumer engagement making voice calling an integral part of an omnichannel customer experience program. TNS analyzes over one billion call events across more than 500 operators every single day, enabling carriers to identify more unwanted robocalls. For additional information visit: https://tnsi.com/resource-center/communications/.
About Juniper Research
Juniper Research specialises in providing high-quality data and fully researched analysis to manufacturers, financiers, developers and service/content providers across the communications sector. Juniper Research is fully independent and able to provide unbiased and reliable assessments of markets, technologies and industry players. Our team is drawn from experienced senior managers with proven track records in each of their specialist fields. For more information on Juniper Research’s portfolio, please email info@juniperresearch.com.
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