Benefits of Call Analytics
"You can have data without information, but you cannot have information without data."
Daniel Keys Moran
American computer programmer and science fiction writer
The amount of data sent across the globe each day is staggering. On the very day that you are reading this, some 320 billion emails will be sent and received and about 19 billion texts will ‘ping’ to announce their eagerly-awaited arrival. In the face of such an information onslaught, it’s tempting to feel overwhelmed. But if your company uses phone calls as part of your marketing and sales operations, you’ll know that phone calls are often the most valuable contacts your marketing efforts can create. In general, callers convert 30% faster than web leads, spend 28% more and have a 28% higher retention rate. And the good news is that you can now access call analysis technology that will help you to use your valuable call data in order to interact better with customers and generate more sales.
Call analytics - releasing valuable information from your call data.
Call analytics uses AI to record and analyse data from inbound phone calls. At a primary level, it captures caller and marketing data, including when the call is placed, the caller’s name, phone number, their location and the marketing activity that initiated the call. It then uses speech-to-text technology to transcribe the conversation and from this it identifies information that can be actioned, such as:
- if the caller was a sales lead
- if they expressed urgency
- what products or services they inquired about
- if they converted to a customer
- if it was a sales or appointment opportunity
- if the caller is looking to make a purchase soon, and much more.
By tracking and analysing phone conversations from each marketing campaign, you can gain a much deeper understanding of their full results and optimise your spend to drive more conversions at a lower cost.
Let’s drill down deeper into the specific benefits of following the Call Analytics path:
- Better understanding of your business: a cloud-based call analytics platform gives you unparalleled insight to how your contact processes are working. It lets you see when your staff are busiest and manage your resources appropriately.
- Better sales performance: by recording and analysing inbound calls, it’s possible to identify which agents and sales techniques are closing the most sales. This means you can deliver training to share winning techniques and improve results across your teams.
- Better use of marketing resources: more accurate attribution of calls against specific marketing activities means you will be able to allocate your marketing budget more effectively towards the most profitable media platforms, keywords and campaigns.
- Monitor your sales activities: the combination of call recording and call analysis releases previously unseen insights into your business, across a range of levels. For example, you will be able to see the amount of time customers spend waiting on hold, sales conversion rates etc. This can be used to identify training needs, or linked into sales campaigns that are really working for your team.
- Better customer experience: call analysis will pinpoint areas of friction in the client journey which are making it difficult for people to interact with you. They might be getting frustrated by having to repeat their information, for instance. Armed with this information, you can make valuable changes to your processes that not only improve the customer experience and satisfaction but also improve your bottom line.
- Better compliance: using call analysis software ensures that every interaction is accurately logged, which is a major step towards better compliance. Historic information can be pulled out of your system for legal purposes, and with the right strategies in place to manage customer data safely and securely, you are also taking measures to adhere with regulations like GDPR.
Unlock the benefits of Call Analytics with HPN
The HPN teams is always happy to help you to plan, install and utilise Call Analysis software. Call me, Paul Hagan, or any member of the High Performance Networks team on 028 9053 8411. We’ll help you manage your call data in ways that will move your business forward.