Marketers spend around $20 billion each year on Web and CRM analytics. That’s a lot of cash
Marketers know analytics ranging from website abandon rates and CTR, to conversion rates and even repeat visitors. But when the phone rings there is a fairly large black hole, void of rich analytics data. This is what call analytics providers seek to provide.
The idea behind call analytics is simple: pull data and analytics from calls. Call analytics can optimize marketing and improve sales performance.
Here are six ways to improve your marketing and sales with call analytics:
Call Tracking– Marketers are learning that call tracking is necessary to understand which ads, channels and campaigns generate calls and, conversely, which do not. Call tracking allows marketers to associate specific phone numbers with specific ads and therefore track which ads produce responses and which don’t. It is like Google Analytics for the phone.
Track Close Rates– Some very advanced call analytics engines can track close rates for specific ad channels and even individuals. You can actually generate reports that show what percentage of calls Jim is closing. Or, you can see the specific close rates for your latest PPC ad. This is incredibly vital marketing and sales data.
Lead Scoring– Companies like Marketo and Hubspot have mastered lead scoring in the online world. They assign points to Web leads based on things the web lead does. For example: a lead that downloads a White Paper and opens 5 emails would have a higher lead score than a lead that downloads a White Paper and doesn’t open any emails.
Lead scoring with call analytics works in a similar way, except the score would be based, in part, on the words the lead actually said during the call. For example, if an auto insurance caller said they drive a BMW, they would have a higher lead score than a lead that drives a Honda.
This is just an example, of course, but think about the huge number of things said on a call that could indicate if someone is a good lead or not.
Track Phone Sales Analytics – Call analytics platforms allow you to track specific employee sales skills. Keep in mind these are criteria that have been proven to increase the likelihood of a closed sale. Did the agent provide a cheerful, happy greeting? Did the agent ask for and use the caller’s name? Did the agent ask open-ended questions? Did the agent ask directly for the sale?
The system will score any customizable criteria, like these, on a Pass/Fail, 0-3, 0-5, or 0-10 scale. This allows you to see, not just who’s closing sales and who isn’t, but why certain agents are closing sales and specifically where they need improvement.
Manage Customer Experience– Call analytics can track calls based on the customer experience. Create a scorecard that measures criteria such as: How pleased did the customer seem? Did the customer express that his/her needs were met? Did the call end on a positive note? Was the customer’s problem resolved?
Measuring criteria like these can evaluate what sort of experience the customer is having. Additionally, generating reports on groups of these scores over a period of time can yield valuable insight about what produces an excellent customer experience (i.e., specific agents, callers, locations, etc.).
Dramatically Improve Sales Training- Because you are now scoring calls that measure specific sales skills, you know the areas in which your employees need improvement and the areas in which they don’t. You know if they need improvement in asking questions, resolving concerns or being more direct when asking the sale. Call analytics shows you all this. Thus, you don’t have to spend money on training that addresses superfluous ($20 word alert) issues.
BIA/Kelsey says that mobile marketing will contribute to a massive increase in calls businesses across the U.S. receive. It is more critical than ever to gather analytics from calls that are similar to analytics gathered from the web.
McKay Allen is the Inbound Marketing Manager at ContactPoint, maker of LogMyCalls. LogMyCalls is the next generation of intelligent call tracking and conversation analytics.