In the ever changing digital landscape, businesses can’t afford to ignore the customer experience. So marketers are turning to complex digital marketing clouds to manage the customer journey. But all their efforts to track, measure, and analyze the digital experience can only get them so far. The reality is, a click is only one part of the customer journey picture.
It turns out the missing piece is the customer’s voice.
Why Voice Matters Now
No amount of technology will ever replace a real conversation. This is especially important for high-consideration industries like Insurance, Financial Services, Healthcare, and Home Services.
The rise of mobile has blurred the line between the online and offline world, so customers are still looking for the option to call businesses. In fact, BIA/Kelsey projects that consumers will make 169 billion mobile calls to businesses by 2020. That is a huge opportunity marketers can’t afford to ignore.
Voice analytics makes it possible for marketers to turn conversations into actionable insights. Get up to speed with this list of five ways voice conversations are valuable to businesses.
1. Define Lead Quality
Lead generation is no longer about collecting as many leads as you can. Businesses are shifting to a more targeted approach which increases the importance of lead quality. An online form can only give you a small amount of information about a lead — like name, email, and company name.
With voice conversations you can get greater insights into things like what products/services a caller is interested in, what objections they have, and whether the call results in a conversion (appointment set, purchase confirmed, quote requested, etc.). This kind of information can help marketers better understand the quality of their customers.
2. Optimize Marketing Campaigns
The more information a marketer can gather about their customers, the more ammo they have for optimizing marketing campaigns. You can take voice analytics data and apply it to your marketing performance measurement. You have insight into the true performance of all of your marketing campaigns so you can optimize strategy, budget, and more.
3. Enhance the Customer Experience
The customer experience is essential to success for businesses in 2017 and beyond. You can use voice analytics to understand the outcome of a phone call — including whether a purchase was made or not. You can feed this information into your retargeting platform in order to send more personalized and relevant follow up ads and messages. This can open up the opportunity creating new sales, in addition to upsells, and cross-sells.
4. Test new sales messaging
Your sales team/call centre agents are on the front lines with your customers. Voice conversations contain the most valuable insights for understanding whether your sales scripts are successful, and which members of your team are performing the best. You’ll have insight into common questions/objections, competitor mentions, and more. You can use this information to improve and test sales scripts, and improve sales performance.
5. Prove Marketing ROI
You can set up your voice analytics to focus on keywords and phrases that prove when a phone conversation turns into a sale. The phone call can then be connected to the actual revenue the call drives. You can use this information to accurately measure marketing ROI. You’ll be able to make smarter decisions and better optimizations.
Protecting Customer Privacy is Crucial
Keeping customer data private is a priority for all marketers. Voice analytics products like Invoca’s Signal for Voice taps into IBM Watson Speech to Text to seamlessly analyze conversation in real-time without sacrificing customer privacy. PCI DSS (Payment Credit Industry Data Security Standard) compliance is necessary to ensure sensitive data like credit card numbers, social security numbers, and other personal identifying information is secure. With Watson the sensitive data is never stored anywhere and Invoca redacts the information all data and analytics so marketers can focus on the crucial keywords and phrases that are important to their unique business.
Conversations are absolutely necessary for success, and voice analytics is a must-have for every marketer.