How to Choose a Call Analytics Model
by Chris Kontes | November 13th, 2019
A Brief History of Call Analytics
With the advent of digital marketing and a world where data has taken over, the way businesses advertise has changed. Before this time, marketing relied solely on intuition instead of practical data and a proven strategy as we have it today. Businesses can now use several tools to gain insights into which parts of their campaigns are useful. Digital marketing is now taking a stance that requires constantly engaging with consumers and prospects. Despite the prevalence of digital mechanics to secure a sale, marketers often need to have an actual conversation with their prospects. Companies who do not key into this new approach are losing out on something big. It’s called call analytics.
Call analytics is one of the exciting tools that businesses today are using to increase their returns on investment (ROI). This is a recent development as we are moving from a time when companies did not view phone calls as a viable means of driving commitment from a potential customer. This could be partly due to the prevalence of social media campaigns and email marketing. Perhaps, companies previously thought that tracking phone call conversion rates was a daunting task. The most likely reason for the hike in phone calls to businesses who use this as their call to action is the growth experienced by the mobile phone industry. People can now reach anyone on the go. When you use phone calls as your call to action in your marketing campaigns, more people are likely to make the call today. This is why more businesses are becoming increasingly concerned about how to properly use call analytics to improve their bottom line.
Importance Of Call Analytics
Call analytics continue to hold utmost importance because sales teams, call centers, and marketers continuously rely on the process for leads conversion. Call analytics is as significant as web analytics to understand the advertisements that are worth a company’s continued investment. Having a sound call analytics system in place can let you know which of the advertisements are driving sales to your business. This essential purpose that call analytics has can be pegged on the fact that getting to speak to those who man a business gives the tool an authenticity that is much needed in our now digitized world. People want to attach a name and a voice to a company before they can trust it enough to make a purchase. As a result, all businesses keep getting calls from potential customers, and that is not going to stop.
In spite of this situation, a call doesn’t often guarantee a sale. Because someone called your company does not mean they would buy your product. The experience that they have with the person who picks up the phone goes a long way to determine whether they would make the purchase or not. This is where call analytics becomes essential. It can help you track where you need to channel your best efforts and what improvements you need to make on your leads conversion process. Call analytics can help you with the tools that you need to improve your customer’s experience on all levels. We often focus on the aspect of call analytics with the least impact. This is what this article is set to cover. We have here the best tips on how to make your call analytics campaign more successful.
Choosing a Call Analytics Model
Call analytics covers collecting, measuring, and analyzing phone call data. If phone calls are the call to action in a marketing campaign, then call analytics becomes extremely useful to the marketer. Business owners can see which advertising channels are yielding phone call inquiries and then ultimately, sales for their products and services. More and more businesses are relying on calls as their primary marketing strategy. Businesses based in the hospitality industry, for instance, receive a large number of their reservations from phone calls. Such a tool can, therefore, not be ignored. More people are likely to buy when they have placed a call than through the web, and this is even when they first encounter the product or service on the web. Call analytics makes it possible for you to use proven digital tools to gather data about your phone conversations. You can then use this data to determine the direction that your business advertising should take to continue to convert leads.
Call analytics does this by giving you an insight into what is working and what is not. It helps you to see the path that it took a customer to finally purchase so that you can apply this to other prospective customers. In a nutshell, call analytics is about improving your conversations and getting the call to convert into a purchase. Call analytics is so effective that it can improve all your other campaigns, including email marketing, social media marketing, Google AdWords, SEO, and so on. You can even use call analytics to improve advertising channels that are offline like billboards, TV, print, outdoor marketing, and radio.
How Traditional Call Analytics Work
Traditional call analytics works by a strategy called Dynamic Number Insertion (DNI). Through this metric system, a business can add phone numbers and then build segmentation into the customer-facing operations. This tool then attributes the calls that a company receives to specific actions. DNI helps the marketers to find data regarding what prompted each phone call. It does this by tracking the prospect’s interactions with the company’s website properties even before the actual call. Through call reporting, the call analytics tool can let the digital marketer know precisely how many calls originate from each marketing channel. It also makes the audio of the calls available for future assessment. The call analytics system, through its call recording feature, allows managers to listen in on calls and through that to determine how effective the calls are and whether they had been appropriately handled.
Traditional call analytics involves such activities as call recording, call transcriptions, lead scoring, and advanced reporting. It allows business owners to get an insight into such things as the total calls made, the duration of calls, and which marketing channels produced the calls. Business owners and advertisers can even listen to conversations after they have ended, determine what marketing channel to focus on and get more knowledge of their customers through call tracking analytics. In the long run, call analytics is basically activity based. Additionally, in spite of the tremendous benefits associated with traditional call analytics, it appears narrow in scope.
Call Analytics Using Speech and Voice Analysis
Analyzing the metrics of each call is not enough to drive sales. Digital marketers and managers must look at more spontaneous ways to activate the potential in call analytics for their businesses. Call analytics tools and call tracking analytics should do more to make every call productive for the business beginning when the call is still ongoing. Using call analytics software and call center analytics, you should be able to make an impression on the customer during the call. This will help you prevent a situation where you are always trying to get it right with the next customer. You can use integrated systems to make the call conversion happen while it is still ongoing.
Organizations who know this and who are attuned to it now focus on giving the customer the best experience during that first contact – the phone call. Your call center should be attuned to giving every customer the best experience possible. To make this possible, call analytics should focus on the skills of the call representatives at the organization. Call center analytics, and call tracking analytics should also focus on the speech and voice of the customer during the interaction. This will require advanced tools and will go beyond the traditional call analytics that has to do with activity alone. The catch is, if the call representative is not adequate, then traditional call analytics may not help with leads conversion. Focus instead on the new method of call tracking analytics. Make an impression on your customer from the word go.
When call analytics is used from this angle, it focuses on such issues as:
- How much empathy did a customer service agent show on the phone?
- How many objections did a salesperson overcome on a call?
- How compliant was a debt collector?
Yes, even where your business is a debt collecting agency, you can still use the new mechanics of call tracking analytics that focus on the impact of the phone call on the debtor to improve your business.
These areas of focus that our product has is what makes it unique.
Why You Should Consider Evaluating Call Analytics
Designing your call analytics tracking approach can bring you the following benefits if correctly done.
1. Improved Customer Experience
When you use a system for your call tracking analytics and call center analytics that makes your representatives sound great during the phone call, they will be more than likely to get back. If you use this for your already existing customers as well, you will get lots of repeat clients. The tool can identify the hidden signals in the conversation. You would be able to track, for example, whether your proposal is getting frustrated or is upset. This can help you meet their immediate need or expectation and rectify the situation
2. Call Analytics Based on Speech and Voice is Cost Effective
This kind of call center analytics can save you tons of money along the line. It is one of the best ways to deliver returns on your investment, and it goes beyond the scope of traditional call analytics. By fine-tuning the experience of your prospect during the phone call, you can have more impact on your bottom line than if you had only waited for call recordings and other traditional call analytics method that involve counting the number of calls you have. Besides, this approach to call analytics enhances the number of calls that you get because of the remarkable experiences of people who reach out to you. The case is the same for the number of leads conversion you hit. In the long run, you get value for the money that you invest in marketing.
3. Your Operations Can Take a Different Turn
Call analytics that is not activity-based can improve your overall operations. It can reduce the time that you have to spend on disputes developing from phone calls with customers. It can reduce management interference with call representative’s duties because they know precisely what they should be doing
4. Customer Loyalty
Call analytics that is used in this way can go beyond leads conversion and customer retention to make your customers advocate for your brand. The software can help you use the right words that will make an impression on the customers. Based on the experience they have; they will make a purchase, come back again, refer others and more importantly market your product.
5. You Can More Easily Identify Any Impending Risks With Your Conversion
The call analytics software that focuses on speech and voice and the skills of the call representatives also allows you to see what your risk issues are in every conversation. It can help you direct your efforts to behavior that lowers the risk of losing the lead entirely.
When you use the Balto software, you empower your call center team to sound their best. The tool gives your team the strategies that they need to win any prospect. Balto’s AI software also gives you insights that help you make every call great. With Balto, you will effectively get rid of all the mistakes that occur in conversations and make you lose money.
6. Sell as Much as Humanly Possible
Call Analytics, including real-time speech analytics, guide calls as they occur. That way, ever rep or agent delivers word-class experience on every call. Real-time call analytics can detect key conversation variables, like objections (sales), frustration (customer service) and compliance (collectors and finance) and prompt representatives with the best things to say to handle the situation.
Call analytics holds enormous potential, especially even much more, when used in the right way. It is both affordable and valuable. It can help a business differentiate the marketing activities that are converting leads from the ones that are merely funneling the budget down the drain. Call analytics tools like that available at Balto can help you drive sales exponentially. This is why every business owner and digital marketer should consider trying the tool.