Calls are more important than ever in our digital world. From 2014 to 2019, calls to businesses increased 110 percent due to mobile devices and click-to-call.
Also, phone calls are often the most valuable marketing conversions. Callers convert 30% faster than web leads, spend 30% more, and retain 20% more, according to Forrester.
That’s why top marketers use call analytics. Utilizing data-driven call channel optimization, you can improve consumer experiences, increase call conversions, and lower CPL.
What is call analytics? Why does it matter to marketers? What data can it capture? What questions should you ask when evaluating call analytics providers?
- Definition of Call Analytics
- Working Operation of Call Analytics
- Call Analytics for Marketers
- Who are those that should use call analytics?
- Common Call Analytics Integrations
Definition of Call Analytics
Call analytics uses AI to collect data from incoming phone calls. Call tracking data includes caller name, phone number, and marketing source. It also includes data from the conversations, such as whether the caller was a qualified lead, what they wanted, and whether they became a customer.
Marketers can then use call analytics data to enhance their martech platforms. The data can be used to improve campaign budgeting, identify issues affecting conversion rates, target callers with ads based on their conversations, and generate more leads at a lower CPL.
Working Operation of Call Analytics
A unique trackable phone number is assigned to each marketing source. When a call is placed, these numbers capture caller profile and marketing attribution data such as name, phone number, geographic location, and marketing source. The platform then records the call and transcribes it using speech-to-text technology. Finally, AI analyzes the transcription to surface actionable insights at scale, such as whether the caller was a sales lead, expressed urgency, inquired about products or services, or became a customer.
Marketers can use call analytics reports to track performance and trends, and call recordings and transcriptions to learn from what is said. Call analytics data can also be used in digital ad tools like Google Ads and Facebook, martech tools like Google Analytics and Adobe Experience Cloud, CRMs like Salesforce, and more.
Call Analytics for Marketers
Search and digital advertising results are easily quantified now that everything is online. But they get murkier when inbound calls are involved. Many marketers struggle to merge the online and offline customer journeys.
By tracking and analyzing phone calls from all marketing channels, you can better understand the effectiveness of your campaigns and maximize ROI. You can also track how well your locations and sales agents handle calls and identify issues that harm your ROI. In addition, you can better determine what retargeting or lookalike campaign to put them in based on the outcome of their call. As a result, you’ll get more high-quality phone leads and better customer service.
Who are those that should use call analytics?
Any industry that relies on inbound calls should use call analytics. Calls are vital in industries that require complex, expensive, or urgent purchases. Many industries have examples of lead generation and direct response marketing. Examples include senior living, automotive, travel and hospitality, home services, B2B, technology, lead generation, real estate, financial services, e-commerce, healthcare, education, retail, insurance, direct response, and more.
Common Call Analytics Integrations
Call analytics data into Salesforce allows marketing teams to assess the true value of marketing calls. Your marketing team can use this data to prove ROI and make smarter marketing decisions that increase revenue and reduce waste. With new caller data in Salesforce, sales teams can better understand prospects and customers, target follow-ups for the most promising leads, and learn how to convert more prospects into customers.
2. Google Ads
This allows you to better track ROI, personalize experiences, and optimize campaigns and keyword bidding strategies to acquire more customers for less money. Google Ads Smart Bidding can also improve results because it can optimize campaigns based on call conversions rather than just call volume.
3. Facebook and Instagram
Call analytics data can be used in Facebook Ads Manager to track how well your ads generate phone calls. Then you can allocate your budget to the ads that convert the best online and over the phone. Your reach can also be expanded by targeting new lookalike audiences that resemble your most valuable callers.
4. Google Analytics
This gives you a holistic view of consumer behavior and marketing performance. This allows you to optimize for the most customers and revenue at the lowest cost per lead.