CMOs are facing more pressure than ever to prove the impact of their marketing efforts. Digital marketing has given CMOs a vast amount of data with which to prove ROI, yet the explosive growth of mobile has created a black hole in marketing attribution. This black hole causes marketers to lose valuable data and they’re left scrambling to fill in the gaps. To do so, they are turning to technology vendors who help them shine a light on this missing information. And one of the most prominent issues that marketers face is the inability to attribute inbound phone calls to their marketing. To solve this problem, marketers have adopted call attribution technology.
What Is Call Attribution?
Sometimes referred to as call tracking, call attribution is a marketing technology that connects the inbound phone calls to a business to the marketing interactions that drove them. By attributing each call to the channel, ad, keyword search, webpage, or other source that generated it, call attribution provides marketers with a more complete understanding of how their campaigns are performing, so they can prove value and make better strategic decisions.
Here are the top three reasons why CMOs love call attribution.
1. Attribution for Call Conversions
CMOs have to fight tooth and nail to get credit for every conversion driven by marketing. When you can’t take credit for these leads and conversions, you can’t prove the ROI of your marketing channels. In fact, a study by DialogTech found that marketers are missing 49% of their mobile conversions. This is why so many chief marketers have turned to call attribution technology to eliminate this blind spot. Call attribution allows marketers to take credit for every lead that decides to pick up the phone and convert instead of filling out an online form.
As a result of smartphone adoption, more people are calling businesses than ever before. In fact, by 2019, mobile channels are set to drive 162 billion calls. Without call attribution that is a huge blind spot for marketers — and if you can’t get attribution for each and every call you receive, you will not be able to prove the full value of your marketing.
2. Justify Larger Marketing Budgets
When CMOs can’t prove the ROI on their marketing and advertising budgets, it’s pretty challenging to go and ask for more money. Marketers are under more pressure than ever to justify their requests for more money, and this is pretty tricky to do if you can’t take credit for half of the conversions and revenue that you are driving . Take control of your marketing budget by implementing a call attribution solution so that you can fully prove the impact that your current budget is having on your company’s bottom line, as well as the impact an increased budget would have.
3. Drive More Leads to Sales from Marketing Sources
After using call attribution to know where inbound phone leads come from, you can then optimize your marketing to drive more calls from these sources. And marketers want these calls because, according to analyst firm BIA/Kelsey, phone leads convert to revenue 10x more often than web leads. The next step is to then optimize what happens to those callers after they dial your phone number. Using advanced call routing technology you can make sure that these calls get sent to the best store, person, or department to handle the call and close the sale.
Call attribution is essential for CMOs focused on proving and improving ROI. Without the ability to take credit for call conversions, you may struggle to make the right optimizations to drive growth. If you’re interested in learning more about the benefits of call attribution, download our ebook, The Digital Marketer’s Guide to Call Attribution.
