If you are like most businesses, your biggest marketing expense isn’t your people or your campaigns — it’s your martech stack. A 2018 study by Gartner found that marketers expect to spend 29% of their budget on marketing technology, up from 22% in 2017. That’s more than what they expect to spend on labor (24%), paid media (23%), and agencies (23%).
And for most businesses, that martech investment is growing. A 2018 report by Forrester Research found that US marketers will increase their investment in marketing technology by 27% over the next four years, spending over $122 billion on their martech stacks by 2022. According to a 2019 study by Merkle, 32% of marketers said that if they had more budget, they would invest it in data, technology, and analytics, by far the most popular choice (second place was “digital” at 16%).
The increasing investment in martech stacks makes sense. We live in a data-driven marketing world. To measure and optimize results, marketers need granular data on who our consumers are, what they want, and how they engage with our marketing and with our business. All this first-party data is what fuels our personalization strategies, messaging decisions, bid optimizations, overall budget allocation choices, and more.
The more complete and accurate the data to action upon, the smarter the decisions, the better the results.
Is Your Martech Stack Missing a Source of Critical Consumer Data?
And that brings us to the topic of conversation intelligence. If your business values inbound phone calls — and if a phone call is a call to action in your marketing campaigns and on your website — then you need data and insights from those callers and the resulting conversations in your martech stack in order to measure and optimize results.
Without it, not only are you missing attribution on an important interaction with your business driven by your marketing, you are missing one of the richest sources of data on your consumers. When a consumer calls a business, that phone conversation reveals a wealth of insights into the consumer’s intent, urgency, product/service interest, stage in the customer journey, preferences, aversions, sentiment, and more. It reveals the questions they have about your products/services and the answers that either won or lost their business.
Without that data, marketers will struggle to prove ROI, make the right strategic decisions to drive growth, and deliver the right online and offline experiences to convert more prospects to customers. That’s why, for businesses that value consumer calls, including conversation intelligence in your martech stack is so important.
Activate Insights from Calls in Your Martech Stack with Conversation Intelligence
Conversation intelligence combines the attribution of call tracking with AI-driven conversation analytics to provide meaningful and actionable marketing insights from callers. A conversation intelligence solution like DialogTech not only tells you what marketing source drove each call, who the caller is, where they are calling from, and what location or agent they are calling, it also closes the loop by analyzing the actual phone conversations to determine caller intent, lead score, product/service interest, conversion outcome, and more.
Example of how conversation intelligence solutions work for an inbound call
Conversation intelligence solutions provide a wealth of reporting options to view and leverage data on your callers. You can access built-in reports that provide a detailed account of how calls driven by your marketing are driving leads, sales opportunities, appointments, and customers.
You can also integrate insights from calls and conversations with the other tools in your martech stack — including ad platforms like Google Ads and Facebook, your CRM and bid management solutions, web analytics tools, and more — to see the entire consumer journey and have the holistic data to optimize campaigns for the greatest return.
Sample Google Ads report that includes conversation intelligence data
Below are three benefits of having data from both online interactions and phone conversations with your business in your martech stack.
1. Accurately Report the Impact of Your Marketing on Business Results
One of the most basic — and important — roles of your martech stack is to provide you with reports on how your marketing is performing. Marketers must constantly prove to stakeholders the impact their campaigns and spend are having on leads, sales opportunities, and revenue.
And if your marketing and website generate phone calls, you need to include those calls and their outcomes in your reports. You can’t prove your true ROI or accurately forecast results of future marketing initiatives without it.
Take Arbor Memorial, one of Canada’s largest cemetery and funeral service providers, as an example. Phone calls are an important step in their customer journey, so they use DialogTech to attribute calls generated by their marketing to their 150 locations. That attribution data on callers is integrated with their CRM system, connecting calls from marketing to customer acquisition. It enables Arbor Memorial to attribute 150% more revenue on average from their marketing spend than if they only attributed online conversions.
Think about the reports you are providing now to prove marketing ROI. How much better would the results be if you included all the calls you are generating to your business?
2. Drive Growth by Optimizing for What Drives the Best Results
The most successful marketers aren’t interested in just generating website visits and calls — you want to drive appointments, sales opportunities, and revenue. Knowing what channels, campaigns, search keywords, and other marketing interactions generate the most customers — whether online or over the phone — at the lowest CPL enables you to invest in what really works best while eliminating spend on what doesn’t.
Not knowing what’s really working can be frustrating. The marketing team at a large cruise line believed SEO and paid search drove high volumes of inbound calls and bookings, but couldn’t prove it. They also didn’t know which keywords drove the best-converting calls. So they used DialogTech to analyze inbound calls from organic and paid search and passed call data to Adobe Experience Cloud and Salesforce to track both calls and web forms from marketing source to booking.
DialogTech showed the cruise line which channels and keywords drove the most bookings from calls. For example, they learned that calls from paid search drove more revenue than calls from SEO, and that calls from branded keywords drove twice as much revenue as calls from non-branded ones. Passing this DialogTech data to Adobe Experience Cloud enabled them to automatically allocate the right budget to the keywords driving the most bookings, which generated a 6% lift in revenue in just two months.
Industry Leaders Increase Marketing ROI with Conversation Intelligence
3. Use Insights from Digital and Phone Interactions to Personalize the Other
To deliver the best experiences to consumers, marketers should have their online and call channels work together. Data and insights from each interaction should help inform, improve, and personalize the other.
When consumers call, they expect to receive the right assistance right away. It’s important to connect them in conversation with the most appropriate agent or location immediately. Brands can use analytics on callers — including the channels, ads, search keywords, and webpages they called from; their geographic location; their stage of the customer journey; and the day and time of the call — to automatically route them to the best location or agent to assist.
For example, a larger insurance provider determined that consumers in certain ZIP codes were responsible for more high-profile prospect calls, so the marketing team used DialogTech to prioritize call routing based on the caller’s location. All calls go to their call center, but now they put callers from high-converting ZIP codes into priority queues to get answered right away. After 2 months, they received a 2% lift in sales from this call routing process, resulting in millions of additional revenue.
Once a call is completed, marketers can use insights from the phone conversation to determine how best to target that caller online. For example, you can retarget good leads who didn’t convert during their call with a special offer across search, social, and display. For callers who did convert to appointments or customers, put them into the most relevant upsell, cross-sell, or lookalike campaigns — or avoid wasting media spend by excluding them from seeing your ads altogether.
How digital and calls can work together to drive marketing ROI
What Intelligence from Conversations Are You Missing?
If phone calls are important to your business, having intelligence from those conversations in your martech stack is important to measuring and optimizing marketing results. Download our ebook, The 10 Call Analytics Reports That Will Change Your Marketing, to see more examples of reports you can use to make smarter data-driven decisions.
To learn more about how you can make data-driven decisions, download our ebook: The 10 Call Analytics Reports That Will Change Your Marketing.Download eBook