What's in Your Toolbox: Call Analytics and Data Tracking?
In today’s post, we will look at call tracking’s relationship with marketing budgets and maximize ROI with lead attribution. Why should you care? Well, if you run or manage a business, the attribution of marketing efforts to sales outcomes should be one of the top priorities for you. If not, we can talk about that later. Let's start with some benefits of lead attribution and usage of data.
Lead Attribution Offline
The first benefit with a call tracking and analytics system, is that you can attribute your marketing efforts to specific calls. In talking to clients, we can see fairly quickly if your marketing budget is being maximized across both online and offline efforts.
For example, during a first call consultation months back, our client asked if their tracking numbers were working. In their system, they noticed that one number in their offline marketing plan was not bringing in any inbound calls.
After checking the number in our system and calling it for ourselves to ensure it was active, we discovered that the ad simply was not performing for the two months of the number being set up. The client immediately decided to call the newspaper that the ad was attached to and cancel all remaining ad buys. Could they have waited at least 90 days to see if the ad would perform? Sure, but based on a prior experience with this local provider, it was their decision to move on and maximize other efforts.
If they had not had call tracking set up, they may have gone months with that ad and spent a few thousand dollars in marketing that could have utilized elsewhere.
What About Online
There are a number of ways to track online marketing performance. Instead of getting into the technical definitions of each available option, just know that these options have evolved over the years. When talking to a call tracking and analytics provider, make sure you are clear on ALL of the options available to you.
One that we utilize is the web form contact feature. Having worked in a high-performing call center in the past, I have seen these types of leads close at very high rates. At times, it was a headache because my teams knew that when these “hot” leads came in, their closing opportunities increased. It makes sense. You have me on the phone just as I am requesting information. This is a pretty good sign that I have interest in your offer.
Two ways to look at this.
The first is, that’s a good problem to have. At least my team was coached up to close or gain a second appointment, and they understood the value in this type of lead generation feature. The flip-side is the constant conversation of actually getting into their database of what they deemed “old” leads. If you are in sales management, you know this conversation all too well. I feel your pain.
We’ll get to this training opportunity in another post, but back to the web form.
Again, without getting too technical, your potential client fills out your web form to be contacted. Within less than two minutes, your business receives a call asking you if you would like to connect with the new prospect or leave it alone and call when you have time. Being a high-performing, customer-focused business, you put the call through without question.
Why is this a big deal? Most of us have filled out a web contact form at some point. Very rarely do we receive a call before we get off of that companies web page. More often than not, I may go to a competitor’s web page and fill out the same information because I want to shop around, but if you have me on the phone before I can even hit send on your competitors page, you may very well win my business and make me forget about your competitor. You win!
How To Use The Data
By filtering out non-prospect calls, you can reveal your cost-per-lead and call-to-appointment numbers more effectively and with actual data. Instead of blindly negotiating rates, you can see the true cost. We can also work together more closely with marketing by focusing in on what is working and what needs to be improved, or as in the example earlier, removed from our marketing plan.
Having a bunch of “web hits” does your business very little, especially is they are phantom hits. The good marketing providers know this and are not worried at all about attribution. They understand the importance of delivering you actual leads, and that is what your marketing budget is supposed to be bringing you, correct?
About the author:
Noah Carmichael is an Executive Coach and Director of Inside Executive. Noah works with business owners, executives, and their teams on a one-on-one or group basis in areas ranging from personal and professional development to operational strategy and sales accountability training.
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