For many industries, inbound phone calls are important conversions from digital and offline marketing. In fact, 84% of marketers report that phone calls have higher conversion rates with larger order value (AOV) compared to other forms of engagement.
But are you tracking the calls your marketing efforts drive? And do you know the outcome of those phone calls? For instance, how many were sales or appointment opportunities and, of those opportunities, how many converted?
Understanding your call conversion rates is critical to your marketing success. If you’re not tracking this metric, you’re likely not getting credit for all the conversions you drive and you’re missing out on optimization opportunities.
We examined millions of calls to businesses tracked and analyzed with the DialogTech conversation intelligence platform to create phone call conversion benchmarks by industry. Check out the statistics below to learn about the importance of call conversions for marketers, call conversion rates by industry, and how marketers are using conversation intelligence to improve their results.
Phone Calls Are a Pivotal Piece of the Customer Journey in Many Industries
When making urgent, complex, or considered purchases, people often prefer to call a business. This mode of communication allows consumers to get immediate answers to their questions and reassurance from a live agent.
In addition, the COVID-19 pandemic has created a surge in call volumes to businesses, since consumers have many new questions about updated service hours, safety precautions, and more.
Calls Are Often Your Most Valuable Conversions
Not only are phone calls common forms of engagement for many businesses — they’re also valuable marketing conversions. Studies have shown that callers convert faster, spend more, and stay loyal longer than website visitors.
But Not Every Phone Call Is a Good Lead
Your marketing campaigns may be driving a high quantity of phone calls — but are they the right calls? If you don’t have visibility into the types of calls you’re driving, you could be wasting budget driving support and customer service issue calls, instead of sales calls.
And Even When Your Marketing Drives High-Quality Phone Leads, Your Locations or Call Center May Not Be Converting Them
Your marketing success depends on more than just driving high-quality phone calls — you also need to make sure those calls convert to revenue. If sales isn’t closing those deals, it will harm your marketing ROI.
On Many Calls, a Conversation Never Takes Place
In some cases, your marketing ROI may be suffering because your locations aren’t answering the sales calls you’re driving. This problem is especially prevalent in the real estate, retail, and specialty healthcare industries.
Marketers Are Using Conversation Intelligence to Enhance the End-to-End Customer Journey
Conversation intelligence solutions help marketers measure and optimize every stage of the online-to-offline journey. Adoption of this technology is growing, and marketers who use it are seeing increases in revenue and market share.
Tips for Cutting Cost Per Lead With Conversation Intelligence
Below are some of the ways marketers are using conversation intelligence to cut cost per lead and unlock hidden revenue opportunities from the call channel:
- Track, measure, and benchmark the volume and value of phone-based conversions from every marketing channel and source.
- Optimize your marketing for what drives the most valuable conversions, both online and over the phone.
- Eliminate spend on the campaigns, ads, and keywords that aren’t driving valuable call conversions.
- Segment callers into the best audiences for retargeting and lookalike campaigns. Exclude callers from seeing ads that aren’t relevant.
- View reports about how your locations are handling phone leads to detect and correct issues impacting marketing results.
- Automatically route each caller to the agent that best aligns with their needs. Prioritize high-intent callers to secure sales.
- Tailor your content marketing and improve organic search using voice-of-the-customer insights from call recordings and transcriptions.
Want to get our full list of call conversion benchmarks and statistics? Check out our infographic, 2021 Marketing Benchmarks for Phone Call Conversions for Your Industry.
Check out our infographic — 2021 Marketing Benchmarks for Phone Call Conversions for Your Industry — to get our full list of call conversion benchmarks and statistics.Download My Infographic