With the amount of data out there for marketers to collect, we should be allocating more dollars towards our data-driven marketing efforts. And there’s an unsuspecting money-maker in our day to day lives that many marketers don’t even realize.
Having the right data is critical to understanding true return on revenue (ROI). In fact, those that have honed in on gathering more marketing data are already seeing revenue gains, which are expected to grow according to a study conducted by the Direct Marketing Association (DMA) and Winterberry Group:
Successful Marketers
40.9% of marketers say data-driven marketing has grown revenue at least somewhat from Q1 to Q2 in 2016.
Future Predictions
51.8% of marketers are expecting revenue to grow at least somewhat in Q3 2016 as a result of data-driven marketing.
While the majority of marketers didn’t increase investment in data-driven marketing in Q2, they’re expected to slowly jump on the bandwagon in Q3 after seeing their peers’ success.
As marketers start to contribute more and more dollars toward data gathering and data-driven campaigns, taking steps to ensure data isn’t left out will become even more important in order to truly understand ROI, make accurate marketing decisions, and drive more revenue. And one key piece of data that will be instrumental in this endeavor is the call conversion.
Why Calls Are Data-Driven Marketing
Let’s dive into the reasons why digital marketers must include phone call data within their data strategy and how it can be used to help understand ROI and drive more revenue.
Reason #1: Digital Marketing Drives Calls
Smartphones have transformed the way consumers engage with brands throughout the customer journey. They’re easily accessible all of the time. And with click-to-call, consumers can immediately call businesses to get answers instead of filling out a form and waiting for a response. This is why billions of calls are being generated from digital marketing, which are expected to grow by nearly 50% between 2016 and 2019.
Reason #2: Calls Are Great For Business
Calls are the leads sales teams desire most. They’re valuable because they convert to revenue 10x-15x more than web forms. How? Callers often have a high purchasing intent. They’re actively taking time out of their day to speak with your business. They don’t want to wait around only to have a web form request get addressed at a snail’s pace.
You just can’t beat the live conversation. It allows businesses to speak with their leads at the moment they’re most interested in engaging. It makes converting leads or closing sales much easier for a sales agent. It’s no wonder calls are expected to influence $1 trillion in US consumer spending this year alone, according to BIA/Kelsey.
Reason #3: Conversation Is Fundamental for Many Industries
There are many industries where calls play a very critical role in the customer journey. They’re usually industries that involve detailed planning or a considered purchase. Meaning the product or service is either expensive, complex, or purchased infrequently.
As a result, they usually spark more in depth questions during the research and purchase phases. And the best way to get answers is through a conversation. Think about it. Would you buy a house online without talking to an agent and viewing it in person? How about a car or health insurance?
Conversations are necessary within these industries and others. And without call data you won’t understand your true ROI and be equipped to make accurate optimization decisions.
Use the Unsuspecting Money Maker
Many marketers don’t realize they can easily measure call conversions with the help of call attribution technology. Instead they often struggle with measuring the offline conversions that occur from their digital marketing. There’s a false belief that they have all the data needed to understand which channels, ads, keywords, and campaigns to invest in to drive maximum revenue.
Take some time to understand the role calls play in the customer journey and your data-driven marketing strategy by downloading our guide, Calls and the New Customer Journey: How Marketers Drive Revenue by Mastering the Call Channel.
Source: B2C
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