While not every insurance company’s marketing efforts have resulted in house-hold names like Flo from Progressive or Allstate’s “Mayhem” man, it doesn’t mean that their consumer-attracting-accomplishments should go unnoticed. But for many insurance companies, big and small, tracking call leads and truly understanding the value of their marketing campaigns hasn’t been an easy task. Fortunately, advancements in data technology and call analytics have made the process far less difficult.
What is Call Analytics?
Call Analytics include insights like measurement and data collection that are derived from call analysis used to optimize lead generation and best business practices. Marketers use call analytics to better understand which of their efforts are driving the most business, while sales/customer service agents often use the software to understand how to best qualify a call or structure their IVR and other sales funnels.
If some or all of the scenarios outlined below apply to you or your business, it may be worth addressing through investing in a lead tracking software with advanced call analytics, you’ll be happy you did.
When to Invest in Call Analytics Software
1. You Want to Better Understand Your Customers’ Story
Understanding consumer behavior like when and where phone calls are made is important, but taking an even more granular look at customer data can help you further understand who your customer is. Each aspect of your business can benefit from information like customers’ names, ages, and locations, but even more so from data that includes the length of calls and recorded questions.
Analyzing data to learn how long each call is determines just how much information your customers are seeking with each conversation. It allows for everyone from your sales team to customer service reps to better tailor their interactions, and also gives you invaluable insights on what information is potentially missing from your website or other advertising.
2. You Need to Improve Your Customer Service
The ability to record calls is useful in evaluating the quality of customer service performance. Having the opportunity to re-assess previous conversations with customers, perhaps those who have not yet converted will allow your company to gather information and ideas on how to better build and retain customer relationships.
3. You Are Unsure of Where to Attribute Your Calls
Tracking a lead starting from where it originated is a game-changer. Not only does multi-channel attribution allow you to see exactly where your call lead came from, but ultimately leads you to understand your customer’s needs and future behavior.
From your website and social channels to boosted campaigns and PPC advertisements – call analytics allows you to attribute each and every lead to the correct source. Including offline call conversions and web traffic, information can provide marketers with a complete picture of where their efforts are most valuable.
4. Maximizing Marketing Efforts Is Important to You
Without call tracking, accurately measuring your online marketing campaigns is tricky. Even with Google Analytics, which measures your web visits and online conversions, understanding buyers who overlooked the online form and picked up the phone instead is next to impossible without call analytics. Knowing which marketing channel is producing the greatest results will allow you to optimize your spending and ultimate ROI.
5. You Want to Better Qualify Your Leads
Call analytics software that allows for IVR or Interactive Voice Response can help to cut through the noise of lead qualification and deliver data to sales representatives in real-time. By collecting information about location, veteran status, income, and more – sales representatives are well-informed and talk to a qualified consumer out of the gate. This allows sales reps to spend more time nurturing customers who are more likely to convert.
6. You Want to Boost Your Conversion Rates
Making data-driven decisions regarding which marketing campaigns saw the highest engagement, tailoring your ads toward your most interested demographic, and training your employees to understand and react to said analytics will ultimately have a positive impact on your conversion rates. Data implications like call length can suggest a certain level of call quality and chances of conversion. Call analytics allows you to clearly see the relationship between marketing and customer behavior. Tailoring your processes to better meet the needs of your engaged customers will attract more of the same and convert those who are interested.
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