In today’s digital age, many organizations rely on online marketing methods such as email campaigns and social media outreach to generate leads and improve sales. This is not to say that inbound calls should be ignored or forgotten.
Call tracking service allows businesses to monitor the number of calls received, the duration, and the source of those calls. It also allows them to track customer service statistics like wait times, first contact resolution rate, and average handling time.
Around 59% of clients prefer to communicate over the phone. It is because inbound calls have various advantages over other digital marketing. On the other hand, receiving a stream of incoming calls will not help you understand and improve your marketing efforts; you must learn how to evaluate them. It is when call tracking metrics come into play.
Call tracking metrics are used to collect and evaluate the effectiveness of a marketing campaign or call center. By assigning unique phone numbers to specific campaigns, businesses can track which customers are calling due to their efforts. It enables companies to assess the effectiveness of their efforts in terms of lead generation by evaluating key performance metrics such as response rate, conversion rate, and caller retention.
Call Tracking Metrics
Companies use different call tracking metrics depending on the business’s goals and objectives. However, several metrics are commonly used and considered critical for evaluating the success of a business’s operations and overall customer service efforts.
Here are some key call tracking metrics businesses may want to focus on.
Call Volume
Call volume measures the total number of incoming calls a business receives. This metric can identify which marketing channels are bringing in the most leads and inform decisions on where to allocate resources.
When interpreting call volume data, it’s important to consider additional metrics such as call duration, call source, and conversion rate. These additional metrics can provide valuable insight into how well leads are handled and converted into customers.
Call Duration
Call duration provides insights into the effectiveness of your customer service efforts. It helps to monitor how long customers are on hold, how long agents spend on each call, and what kind of conversations they’re having with customers. Longer call duration can indicate that customers are more engaged in the conversation. In contrast, shorter calls could mean that customers are not getting their questions answered or not engaging with the conversation as much as possible.
On the other hand, if the average call duration is longer than expected, it may also indicate that the staff needs additional training to handle customer inquiries more efficiently or that the business needs to streamline its processes to reduce the time spent on each call. Or the average call duration is shorter than expected. In that case, it may indicate that the staff is rushing through calls or that the business is not providing enough information to customers, which can negatively impact customer satisfaction. Therefore it’s crucial to track other call tracking metrics to be able to interpret your data correctly.
Call Source
This call tracking metric refers to the specific marketing channel or source that led a customer to call a business. It helps companies to track which of their marketing efforts are generating the most phone calls and to optimize marketing strategies and budgets.
For example, a business might use different phone numbers for each of its marketing channels, such as one number for its website, another for its social media ads, and a third for its print ads. By tracking which number is used most frequently, the business can determine which marketing channel drives the most phone calls.
Call Outcome
Call outcome measures the result of each incoming call a business receives. It is usually derived from call tracking analytics. Here are some common examples of call outcomes:
- Positive: The customer was satisfied with their experience and took some action, such as making a purchase.
- Neutral: The customer was not happy but stayed on the line long enough to provide feedback.
- Negative: The customer hung up or expressed dissatisfaction.
By tracking call outcomes over time, businesses can understand how their customer service representatives perform and take action if necessary. Call outcome is, by all means, an important call tracking metric for brands to measure as it indicates how their customers perceive their service.
Conversion Rate
Conversion rate metric measures the ratio of calls that result from an ad campaign compared to the total number of people exposed to the ad. Conversion rate helps you understand how well your ads have targeted potential customers and can be used to optimize future campaigns.
A high conversion rate indicates that the business successfully converts many incoming calls into desired outcomes. In contrast, a low conversion rate may indicate that the company needs to improve its call handling or sales techniques to increase its success rate.
To learn how to calculate the conversion rate, see the formula below:
To improve conversion rates, businesses may need to focus on improving the skills of their call center agents, providing additional training and support, or implementing new technologies such as call scripts or call routing to ensure that calls are being handled efficiently and effectively.
First Call Resolution
First Call Resolution (FCR) measures the percentage of calls resolved on the first attempt by a customer service agent without any follow-up calls or emails from customers. Companies use call tracking metrics as an important tool to evaluate their customer service teams and ensure they provide the best possible service.
When asked contact center professionals, 23% agreed that FCR is the most important measure of success. If a company has a high FCR, its customers are getting their issues resolved quickly and efficiently, leading to greater customer satisfaction. A low FCR can indicate poor customer service, decreasing customer loyalty and dissatisfaction. Companies should strive for a high FCR to ensure customers are satisfied with their service.
How Call Tracking Metrics Impact Your Business
Measure Сonversions
Call tracking metrics measure the effectiveness of a business’s advertising campaigns. By tracking each incoming call from a specific advertisement or campaign, businesses can determine which ads are performing well and which need to be adjusted. They can also track the number of leads generated from each source, providing invaluable insight into their marketing efforts.
Track Customer Service Performance
Call tracking metrics allow businesses to evaluate customer service performance. Companies might find training or improvement opportunities by examining the length of conversations and the issues handled.
Optimize Marketing Campaigns
Companies can target the most effective channels and audiences using call tracking metrics. By tracking which sources generate the most leads and customers, businesses can allocate more resources toward those efforts and improve overall campaign results.
Improve ROI
Call tracking metrics enable businesses to maximize their return on investment (ROI). By tracking the source of calls, brands can determine if certain campaigns generate higher returns than others. They can then focus more resources and budget towards those ads, leading to increased profits.
Unlock the Power of Call Tracking Metrics
Call tracking metrics may be a great tool for organizations to understand their consumers better and track the effectiveness of their marketing activities. Businesses can make more informed decisions on spending resources and develop more efficient marketing strategies by harnessing these data. It also enables them to track real-time client interactions and respond quickly when necessary.
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