It is important for the development of any business to collect and process all information about the interests, needs, and behavior of potential customers. You can better understand your target audience, improve customer service, and multiply your profits using conversion rate optimization (CRO) tools and call tracking in your marketing efforts.
According to a study by Venture Beat, the average ROI for CRO reached an impressive 223.7%. Out of the 2,938 marketers surveyed, only 5% failed to achieve profitability when implementing tools to enhance conversion rates. This technological solution streamlines working with data needed to improve conversions, such as web analytics, real-time user behavior tracking, and more.
(Source: VB Insight)
Call Tracking and Its Key Functions
Software designed for tracking customer calls enables the analysis of conversions. The primary goal of this digital product is to gather information about the effectiveness of each marketing channel being utilized. Simply assigning a unique number to your advertising source lets you identify the most common ways customers discover you.
A call-tracking service offers several key functions:
- Call recording.
- Logging date, time, and call duration.
- Tracking the number of calls within a specific period.
- Utilizing pre-recorded voice menus.
- Collecting demographic data and reasons for inquiries.
These features contribute to building an effective marketing strategy that motivates potential customers to take desired actions.
How Call Tracking Helps Achieve a High Conversion Rate
First, let's understand what is a good conversion rate. As a rule, a good rate ranges from 2% to 5% for an average website. However, even a 0.5% improvement can be successful for specific cases and industries. So, how do call-tracking systems contribute to maximizing conversions?
You gain control over call traffic by implementing call-tracking software in your company's operations. By assigning unique numbers to different advertising channels (official website, social media ads, partner websites, etc.), you gain insights into where potential customers are coming from. Utilizing this information in lead management and future advertising campaigns allows you to create more personalized and targeted calls to action.
Therefore, by integrating the best call-tracking service into your operations, you identify popular communication channels with customers and increase conversion rates. It also provides insights into which marketing techniques encourage users to call your company.
The Benefits of Call Tracking for Businesses
According to the State of the Connected Customer study by Salesforce, 59% of consumers view phone service positively. Additionally, 86% expect prompt responses from company representatives. From a customer's perspective, this interaction provides more opportunities for in-depth discussions about their concerns.
Let's explore the call tracking advantages for businesses, which make this digital solution invaluable for promoting and optimizing conversions.
Shortening the Sales Cycle
When consumers urgently want to purchase a product or service, they understand that a phone call is the best way to obtain information quickly. Capturing the purpose of their call from a specific source allows you to develop communication scripts for future conversations. This also helps qualify leads faster and drive them toward conversion.
Increasing Customer Loyalty
You have a greater chance of establishing an emotional and friendly connection when speaking with a customer over the phone. Mail or communication with a chatbot doesn't allow you to leverage this advantage fully. This is especially important for companies providing financial, legal, medical, and similar services where moral support is crucial.
Call conversion tracking software captures the goals and number of customer inquiries. As a result, when a customer calls again, you can immediately direct them to the appropriate specialist. This saves your employees' working time and prevents customers from waiting for a response.
Streamlining Lead Management
To obtain more "hot" leads and maximize conversions, you should give special attention to lead management systems. They can be presented as a component of call tracking software or as a separate product. For example, Phonexa combines multiple solutions for comprehensive data collection and convenient processing.
A reliable call-tracking service should seamlessly integrate with your lead management systems. Your operators can provide more personalized service by analyzing the data from call recordings. This enhances customer trust and demonstrates your commitment to collaboration.
Utilizing tracking and data collection tools helps your employees work with cold contacts, transforming them into quality leads. Understanding the motivations of existing customers allows you to create compelling calls to action for other customer segments.
Improving Marketing Strategies
You can develop effective advertising strategies by leveraging the information obtained through call tracking systems. These data also help identify the best communication channels for "hot" and "cold" contacts. Additionally, having lead management sales software ensures constant monitoring of potential customers.
Marketers, business analysts, and sales department managers gather reports from these systems to understand what consumers expect from you. By aligning your advertising with customers' interests and needs, you significantly increase your chances of expanding your target audience.
How to Choose the Best Call-Tracking Company?
In your search for reliable call tracking and lead management software, it's important to consider the following factors:
Functionality: Based on your business goals, evaluate the features the chosen digital product offers. Analyze how well its functionality aligns with your company's needs.
Integrations: The call tracking system should easily integrate with other solutions, such as lead management software. This allows you to gather real-time analytics and take various parameters into account.
Cost: Study the pricing model of the provider you have selected. Some companies offer free demo versions for testing purposes. Then compare the prices of their services with your budget to make an informed decision.
Technical Support: The availability of customer support is also an important criterion. You may require expert assistance or consultation in case of any issues. Any software glitches or errors will be promptly resolved, ensuring uninterrupted business operations.
Is Your Business in Need of Advanced Technologies?
Call tracking is an effective method of gathering information to determine the best advertising channel for attracting customers. Your marketers and sales managers can find effective solutions to increase conversions by analyzing the data.
There are numerous providers in the digital product market, among which you will surely find a suitable call-tracking company for your business. All you need to do is carefully study the offered functionality, additional options, and pricing.