Why Phone Calls Create a Marketing Data Mystery
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Ad spend could slow significantly in 2023 due to economic headwinds — most marketers expect flat or reduced budgets.
33% – Same as 2022 33% – Slightly higher 18% – Slightly lower 9% – Significantly higher 7% – Significantly lower
Source: Integrate Marketing Budget Report, 2022
Marketing Budgets Are Under Pressure — Can You Build a Case to Defend Yours?
Marketers Expect Flat or Lower Budgets in 2023
In a recent study, three-quarters of respondents said their 2023 marketing budgets will face increased scrutiny due to the looming recession. Now, more than ever, it’s critical for you to prove your impact on revenue generation so you can prevent your budget from getting slashed. But whether you know it or not, you may be missing the data you need to defend your spend and get more from every budget dollar. Without the ability to track marketing conversions that happen on the phone, the outcomes of your efforts — and the key to reducing wasted marketing spend on ineffective campaigns — will remain a mystery. In this infographic, we’ll share how phone calls are creating a marketing data mystery for your team — and how you can solve it with conversation intelligence.
Though marketers will operate on flat or reduced budgets, leadership will not reduce their expectations. Marketers will be expected to do more with less to drive results.
But Performance Expectations Won’t Dip
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Reason 5
5 Reasons Phone Calls Create a Marketing Data Mystery
With your marketing budget under pressure, you need undeniable data to prove your impact on revenue generation. But what if I told you that you’re not presenting an ironclad case to your leadership team, and there’s a vital piece of evidence that’s missing? Call conversions are your smoking gun, the undeniable proof of your impact on your organization’s bottom line. However, these interactions are difficult for many marketers to track and optimize. In this section, we’ll show you 5 reasons why phone calls often create a data mystery for marketing teams.
Phone Calls Can Be the Most Valuable Evidence of Campaign Success
Reason 2
Phone calls are make-or-break moments in the customer journey — it’s how customers reach out to make purchases, schedule appointments, get questions answered, and forge authentic human connections. Therefore, calls are often the most valuable and engaged leads marketers can drive. However, some marketing teams fail to track the phone call conversions their campaigns generate. This leads to underreported ROI and issues proving campaign success to leadership.
Though phone calls are often the most valuable conversions your campaigns can drive, it’s important to understand that not EVERY phone call is a qualified lead. The calls your campaigns drive might be red herrings — they’re non-sales related inquiries that don’t impact revenue generation. To solve your marketing data mystery, you can’t just track that a click-to-call button was pressed — that only tells a fraction of the story. You also need to track how many of those calls were qualified leads and how many converted.
But Some Phone Calls Are Red Herrings
Your bidding strategy is critical for campaign success — it allows you to set the parameters for how much you’re willing to pay for each click, impression, and conversion. When executed well, a solid bidding strategy can help you maximize the impact of your marketing budget. But your bidding strategy is probably incomplete. If you’re not tracking the value of each call your campaigns drive, you can throw off your bid optimization formula. For example, you may think a certain keyword is underperforming when it shows a low web conversion rate, but perhaps it’s driving more phone call conversions — and higher value sales — than your other campaigns. If you aren’t bidding aggressively on this keyword, you’re losing out on high-value conversions.
Calls Are the Missing Puzzle Piece of Your Bidding Strategy
It’s one thing to be able to prove that your marketing is driving conversions over the phone, but it’s a whole different ball game when you can tie those conversions to the revenue they generate. Nothing does a better job of proving your value to leadership than showing them the money! However, without a solution like Invoca, it can be difficult to match revenue from phone calls back to the campaigns that drove them. The process of manually inputting this information into a CRM can be time-consuming and fraught with human error. This makes it difficult to accurately report your ROAS and prove the value of your team's work.
Tying Phone Calls to Revenue Generation Isn’t Elementary
Phone calls are one of the richest sources of customer data. In these conversations, your customers are literally telling you what they want and how to make them happy. But without conversation intelligence, it’s incredibly difficult for marketers to identify trends and unlock these insights. A manual approach isn’t feasible or scalable — what are you going to do, listen to hundreds of call recordings and jot down notes? Without insights from phone conversations, marketers have an incomplete view of the customer journey. This can lead to poor optimization decisions, like retargeting callers with ads for products they already purchased over the phone.
And Neither Is Deducing What’s Happening in Phone Conversations
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Reason 1
Invoca sample report showing how many phone calls were qualified leads and how many converted
50% increase
in order volume from non-branded paid search keywords
in total revenue from non-branded paid search keywords
80% reduction
in wasted ad spend
2x increase
in close rate at the contact center
30% increase
in ROAS from digital marketing and affiliate programs
50% lower
overall cost-per-call
14% increase
in conversion rates from job applicant calls
59% increase
in annual call volume from Google Ads
in phone sales conversions from paid search
20% increase
in sales inquiries from paid search
No increase
in cost-per-lead
33% increase
in leads from paid search
Over 30%
rise in the number of booked calls
Over 20%
boost in call conversion rate
Over 10%
increase in bookings — with no incremental spend
20%
increase in conversion rate
reduction in CPA
60%
reduction in click-to-call CPA
$3 million+
in cost savings
60% increase
in conversion rate
15x lift
in conversions
500% lift
in ROAS
in volume of qualified leads
18% lift
in net revenue from paid search campaigns
82% two-year decrease
in cost-per-acquisition from Google paid search
Marketers at leading organizations know that they need the right data to defend their budgets and prove the value of every conversion they drive. That’s why they use Invoca conversation intelligence to solve the issues we mentioned earlier.
Marketers from Leading Companies Crack the Case with Invoca
Charlie Farrell
“The results with Invoca’s Google Ads integration have been phenomenal, to say the least. The benefits are constantly compounding with such minimal lift for the returns. I’ve never had a product where I spend more time selling people on the results than doing the work to get it going.”
Senior Manager of Search Engine Marketing at Rogers Communications
Below are some of the incredible results leading companies have achieved with Invoca. Select a logo to learn more:
Marketers at leading organizations know that they need the right data to defend their budgets and prove the value of every conversion they drive. That’s why they use Invoca conversation intelligence to solve the issues we mentioned earlier. Below are some of the incredible results leading companies have achieved with Invoca. Click the arrows to learn more:
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With Invoca conversation intelligence, you can solve your marketing data mystery and track the phone call conversions your marketing efforts drive. There’s no need to change your existing workflows — you can integrate Invoca’s data with your digital marketing tools and tie your efforts to revenue generation. This will help you prove — and improve — your marketing results, so you can defend your spend to your leadership team.
Solve Your Marketing Data Mystery by Tracking Phone Call Conversions
