For both big and small businesses, the ROI means a lot. The opportunity to calculate and influence it can help to improve your marketing performance. One of the tools you can use for such purposes is call tracking software.
Thanks to it, you can not only arrange your outbound calls but also collect the information for your databases and ROI improvements.
This post will show in detail the importance of the ROI and what features of the call tracking software like Phonexa call tracking software will be useful for it.
The Importance of ROI
In marketing, ROI is particularly significant. When you create a marketing plan and launch the campaigns, it is essential to know how your target audience reacts to particular actions. It is all about adjusting your approach to the customers’ needs and expectations to ensure a decent level return on investment.
The information you may receive and analyze via the call tracking tools allows you to determine which campaigns are worth your time and money investments.
Moreover, this software can be used for detecting flaws in your campaign and optimizing it. Phone marketing remains a powerful source of improvements for your business and relationships with customers.
Call Tracking: What is it?
When regular people hear about call tracking software, they first think of some spy gadgets and illegitimate intervening into their lives. But experienced marketers know that this is an invaluable tool for managing and improving business performance and enhancing ROI.
In these terms, call tracking software is the program or platform that allows collecting data during incoming calls and analyzing it. Marketers can record the info about their customers like name, location, status, and more.
Also, the platforms like Phonexa Call Logic provide toll-free numbers for running both online or offline campaigns. This is convenient when you need to track different campaigns and get separate analyses.
As soon as the customer sees the ad, for example, and decides to call you, the call will be assigned to your agents, and you will see what campaign has brought this customer to you.
Call Tracking Mechanisms
Let’s see how call tracking works in detail on the example of Call Logic from Phonexa. This platform gathers the data from the calls you get and arranges it in the way you can use it for the detailed analysis of your campaign.
You can use this information to track the campaign performance, improve the ROI, and develop new working approaches.
The process starts with dialing when the prospect calls you from the website. The system collects data about the approximate location of the person and the purposes of the call.
After that, the platform uses Interactive Voice Response for filtering the calls and allowing you to assign them to the right agent. More precise results are provided thanks to the Voice recognition function as well.
At the end of the call, you receive the information about it as well as the recorded conversation. Everything is arranged on the platform’s dashboard. Marketers can use it to detect the source of the call, the results of the campaign, and the potential flaws that require improvements.
For instance, you can analyze the conversation and see who the caller responds to the manager’s lines and what tactics bring the highest results.
Basic Features of Call Tracking Software
Depending on the platform, the set of functions can vary. However, the main features remain the same. For instance, the mentioned Call Logic can offer the following tracking capabilities:
#1. Analyzing customer behavior
You can measure your campaign’s effectiveness by checking the demographic, location, and other features of the people who reacted to it. The filtering and grouping allow conducting a profound analysis and adjusting the campaign approaches to provide the ultimate customer experience.
#2. Call tracking reports
You can increase your ROI using the information from these reports. They will become available right after the call, and you will see the complete picture.
#3. Interactive Voice Response function
It allows setting the connection with your customer from the first seconds of the call. IVR helps in detecting the purpose of the call and direct the person to the right manager.
#4. Call recording
The entire conversation will be recorded and available right after the call as well. This is crucial for marketers to re-listen calls to detect strong and weak aspects.
#5. Real-time data tracking
With this feature, you can optimize your campaign immediately.
#6. Voice recognition
Using the AI, you can detect the purposes of the caller and route the following conversation.
#7. Recorded greetings
Customize your responses by replacing the standard messages with the new ones according to your marketing style.
#8. Predictions of the reactions of the callers
Using the information the call tracking software provides you with, you can detect the pain points and your target callers’ reactions and prepare your responses and solutions.
#9. Toll-free phone numbers
As mentioned before, toll-free numbers are important for analyzing a few different campaigns at once, separating the callers from the various marketing sources.
#10. Partner programs
You can share the received data with your partners and vendors to get their feedback and recommendations.
#11. Automatic Call Distributor
This is for smart filtering and routing, which allows convenient and effective arranging of the incoming calls and managing the traffic.
#12. Data storing and managing the platform
The call tracking platform features a smart interactive dashboard where all the collected data is arranged and stored.
As you can see, the call tracking software can become a valuable source of information for adjusting your marketing approach in various ways and lead to the ROI increasing.
Benefits of Tracking Software to ROI
In fact, the call tracking software plays a vital role in increasing your ROI. It helps you to know your customer first. You will learn not only what campaign inspires them to call you but also their location, gender, age, etc.
Using the analysis of the received data, you can detect the approaches that work the best for them. Optimizing the campaign using these insights will help you to reach the target audience.
The opportunity to record the calls plays an important role as well. The level of customer service is as significant as an engaging and attractive marketing campaign. The live communication can both encourage the client to buy your product and reject your service. The crucial point here is in the proper conversation strategy.
The recorded calls are the source of valuable info about practical approaches. For instance, if the particular agent has better results compared to others, it is wise to determine what aspects in his/her communication stand out and what other team members can learn. There is the opposite case when you can find out what managers require additional training.
Analyzing the campaign results that bring you calls and defining the effective approach during phone communication, you can determine the strengths and the weaknesses.
Despite the widespread belief that you need to work on your weaknesses, you will reach better results by focusing on your strong sides. Unless the flaws are really significant, of course.
Also, the call recording feature can provide you with information about customers’ needs and interests. You can use these insights for updating the existing products or developing new ones. Or you can test the new ideas and see how your target audience may react to them.
Improving ROI Using Tracking Software: Tips
The ROI analytic is significant for effective investment distribution. Being one of the most resourceful solutions for data analysis, call tracking software should be one of your major tools if your marketing is connected with phone communication.
Here’s how you can use it:
#1. Collect and store the data
Sure, you can use any other available tools for collecting and arranging your call data. However, call tracking tools are dedicated to the particular sphere, and its features allow taking the most of the information available via this means of communication.
#2. Track campaign patterns
This means not only detect how your customers react to your campaigns. It is also about creating and adjusting your approaches to the constantly changing marketing environment. Your success depends not only on following the customers’ needs but also on predicting the ones they even do not know yet.
#3. Convert calls into leads
Analyzing your communication with customers, you can detect the approaches that work better on your target audience. With tracking software, you will see the dynamic and provide more effective solutions to encourage your prospects to turn into leads.
#4. Benefit from smart tracking
The ROI rates depend on your ability to use the received data smartly. Tracking the data will help to increase customer satisfaction from your marketing approaches.
#5. Maximize call performance
Using the call channels, you might not know the full potential of it. With tracking software, you will find even more opportunities to leverage your ROI.
As you can see, tracking software is significant for effective business management. The information you collect allows you to make the proper decisions about your marketing campaigns’ optimization and direction. Every call is a significant source of data for your business growth.
Moreover, the call tracking platforms like Call Logic not only collect the data but also arrange it into the reports and visuals to ease the process of examining the performance. The constant analysis of your marketing campaigns and tactics will enable you to follow and even predict trends to stand out in your business field in the future.