According to The Economist, the world’s most valuable resource is no longer oil — it’s data. In today’s hyperconnected world, the brands that capture the best data about their customers can make the smartest business decisions.
Conversation intelligence enables teams to access rich first-party data about their customers to optimize marketing, improve digital conversion rates, automate contact center QA, enable agent coaching, and deliver exceptional customer experiences based on the exact needs of the customer.
This blog is the ultimate collection of statistics about call tracking and conversation intelligence. We’ve organized the statistics by different business disciplines — marketing, sales, customer experience, and eCommerce — as well as by industry. Read on to learn how conversation intelligence and call tracking can help your organization exceed its goals.
82% of marketers agree that insights from inbound calls and call experiences may reveal costly blind spots in their organizations. (Source: Forrester)
60% of marketers agree their organizations lack the data to understand and engage sales prospects and customers. (Source: Forrester)
48% of marketers expect to enhance customer experiences when they implement conversation intelligence solutions. (Source: Forrester)
43% of marketers expect to increase customer retention when they implement conversation intelligence solutions. (Source: Forrester)
Phone calls convert to revenue 10-15x more than web leads. (Source: BIA/Kelsey)
Caller retention rate is 28% higher than web lead retention rate. (Source: Forrester)
41% of organizations report having increased phone conversion rates by 25% or more in the past 12 months. (Source: Forrester)
49% of organizations say using speech analytics has helped them support customer satisfaction. (Source: Opus Research)
40% of organizations say using speech analytics has helped them improve productivity by anticipating the purpose of the call. (Source: Opus Research)
37% of organizations say using speech analytics has helped them support "root cause" trend analysis. (Source: Opus Research)
Companies, on average, see an 81% ROI from deploying speech analytics technology. (Source: Opus Research)
56% of organizations say using speech analytics has helped them improve the customer experience by managing contact center journeys in real time. (Source: Opus Research)
56% of organizations say using speech analytics has helped them improve the customer experience with agent assistance and automation. (Source: Opus Research)
46% of consumers are very likely to stop buying from a business or using its services if their calls repeatedly go unanswered with no other channels available for help. (Source: Vonage)
52% of companies have accelerated their AI adoption plans. (Source: PwC)
86% of CEOs say AI is mainstream technology in their office in 2021. (Source: Semrush)
Only 39% of companies are carrying out attribution on “all or most” of their marketing activities. (Source: Econsultancy)
62% of marketers fail to attribute revenue to inbound calls. (Source: Ruler Analytics)
U.S. digital ad spending will increase by nearly 50% from 2022 to 2025. (Source: eMarketer)
In 2023, U.S. digital ad spend will reach $270.73 billion, which is a 12.9% increase from 2022. (Source: eMarketer)
By 2025, the U.S. digital ad market will top $300 billion. (Source: eMarketer)
Programmatic will make up 91% of US ad spend in 2023. (Source: eMarketer)
85% of marketers believe inbound calls and phone conversations are a key component of their organization’s digital-first strategy. (Source: Forrester)
84% of marketers report phone calls have higher conversion rates with larger order value (AOV) compared to other forms of engagement. (Source: Forrester)
85% of executives believe AI will allow their companies to obtain or sustain a competitive advantage. (Source: Forrester)
While 9 out of 10 marketers say first-party data is important, less than a third have mastered accessing and integrating data across channels. (Source: Google)
Marketers who use first-party data from all channels see significant benefits: a 1.5X increase in cost savings, a 2.9X revenue uplift. (Source: Google)
Marketers who use all of the first-party data available to them can generate double the incremental revenue from a single ad placement, communication, or outreach. (Source: Google)
88% of searches for local businesses on a mobile device either call or visit the business within 24 hours. (Source: Nectafy)
Consumers read an average of 10 online reviews before feeling able to trust a local business. (Source: BrightLocal)
72% of shoppers act on marketing messages only when they are customized to their interests. (Source: SmarterHQ)
Marketers see the highest benefits of personalization on their customer experience (64%), a conversion rate increase (63%), and visitor engagement (55%). (Source: Salesforce)
Statistics Contact Center and Sales Teams Need to Know
Despite bots and automation, conventional technologies like the telephone and email will account for 81.5% of the total contact center inbound interactions. (Source: Call Centre Helper)
66% of call center businesses are looking forward to investing in Advanced Analytics to provide a better customer journey. (Source: Biz30)
76% of contact centers are planning to invest in artificial intelligence in the next two years. (Source: Deloitte)
Companies that incorporate high-level automation into their sales process generate around 16% more leads compared to those that incorporate low-level or no automation. (Source: KoMarketing)
More than 30% of sales-related activities can be automated. (Source: McKinsey)
AI adoption in sales has been forecasted to grow 139% between 2020 and 2023. (Source: Salesforce)
55% of sales agents say they need better training to do their jobs well (Source: Salesforce)
Sales leaders who coach effectively achieve 21% better business results (Source: Deloitte)
69% of sales agents who have a positive employee experience say they're likely to remain at their job for 3+ years (TechJury)
Consumers prefer to communicate with businesses via phone (68%), email (55%), in-person (40%), live agent chat (33%), and chatbot (13%). (Source: Invoca)
44% of consumers call businesses as part of their research process and 30% call because they’re most comfortable making high-stakes purchases on the phone. (Source: Invoca)
87% of respondents said talking to a person on the phone to answer questions made them feel more confident in making high-consideration purchases, versus purchasing directly online. (Source: Invoca)
Consumers are most likely to call when making purchases in insurance (68%), healthcare (67%), telecom (64%), automotive (61%), home services (60%), financial services (60%), and travel (53%). (Source: Invoca)
74% of consumers are at least somewhat likely to buy based on experiences alone. (Source: Forbes & Arm Treasure Data)
Consumers will pay a 16% price premium for a great customer experience. (Source: PwC)
67% of consumers will do more research than they did last year to find the best price. (Source: Invoca)
38% of consumers ranked high prices as the #1 reason they’ll stop doing business with a company. (Source: Invoca)
63% of consumers say that they will pay more for a product or service to get better customer service. (Source: Invoca)
37% of consumers will do more research to find the best customer experience. (Source: Invoca)
76% of consumers will stop doing business with you after just one bad experience. (Source: Invoca)
68% of consumers called at some point in their buying journey in 2022. (Source: Invoca)
Travel consumers are most likely to purchase over the phone (41%), while automotive consumers are the least likely to do so (18%). (Source: Invoca)
Customers are most likely to call because they couldn’t find what they were looking for online in automotive (33%), financial services (33%), and healthcare (30%). (Source: Invoca)
The top 3 reasons customers avoid calling businesses are because of long wait times, other methods of communication are faster, and they anticipate being rerouted. (Source: Invoca)
When consumers are placed on hold, 5% hang up immediately, 28% hang up after 5 minutes or less, 26% give 6-10 minutes, and only 6% hold for 30 minutes or longer. (Source: Invoca)
Only 5% of customers trust the automatic callback option. (Source: Invoca)
79% of callers are rerouted at least once. (Source: Invoca)
71% of respondents said that they believe businesses already know why they’re calling. (Source: Invoca)
When callers aren’t transferred, 49% of people feel relieved, 37% feel their business is valued, and 34% are more inclined to complete a purchase. (Source: Invoca)
53% of consumers say they need to repeat their reason for calling multiple agents. (Source: Invoca)
Only 15% of consumers say they rarely or never have to repeat themselves. (Source: Invoca)
Spending on customer experience has already increased 71% over the past three years and is expected to grow 36% over the next three years. (Source: Salesforce & Harvard Business Review)
59% of shoppers use their mobile devices in-store to compare costs or research deals and coupons. (Source: HRC Retail Advisory)
30.9% of retailers say they cannot track consumers across devices, and another 38.2% can only track some consumers some of the time. (Source: Internet Retailer)
84% of consumers believe retailers should be doing more to integrate their online and offline channels. (Source: RetailNext)
$119 is the mean price point at which eCommerce customers are likely to call to make a purchase. (Source: Google)
Financial services marketing, sales, and customer experience statistics
The U.S. is projected to spend $27.63 billion on financial services digital ads in 2022. (Source: eMarketer)
90% of loan and mortgage consumers, 85% of check cashing consumers, and 76% of tax return preparation consumers start their journey with an online search. (Source: LSA)
Financial services keywords are among the most expensive in Google Ads and Microsoft (Bing) Ads and some can cost $50 or more per click. (Source: WordStream)
The average cost for a financial services lead is $160. (Source: popupsmart)
66% of financial services customers call during the purchasing journey. (Source: Invoca)
72% of loan shoppers made at least 2 phone calls to the financial institution during the loan vetting process. (Source: MarketCube)
95% of check cashing consumers, 93% of accounting consumers, and 75% of tax return preparation consumers call a business after running a search. (Source: LSA)
33% of financial services customers call because they can't find what they're looking for online. (Source: Invoca)
34% of financial services customers avoid calling businesses because of too many transfers. (Source: Invoca)
37% of financial services customers avoid calling businesses because other methods of contact are faster. (Source: Invoca)
35% of financial services customers avoid calling businesses because of long wait times. (Source: Invoca)
64% of calls to financial services providers come from organic search and 36% come from paid search. (Source: Invoca Customer Data)
January is the month financial services providers receive the highest call volume. (Source: Invoca Customer Data)
After converting from an online search, loan and mortgage consumers spend an average of $28,435. Banking consumers spend an average of $3,432. Accounting consumers spend an average of $683. (Source: LSA)
Healthcare industry marketing and patient experience statistics
The U.S. is projected to spend $13.63 billion on healthcare and pharma digital ads in 2022. (Source: eMarketer)
Healthcare digital ad spend is expected to increase by 11.5% YoY in 2022. (Source: eMarketer)
The average cost for a healthcare lead is $162. (Source: Linchpin SEO)
94% of healthcare patients use online reviews to evaluate providers. (Source: Software Advice)
43% of Millennials are likely to switch practices in the next few years. (Source: SolutionReach)
81% of healthcare marketers believe inbound calls and phone conversations are a key component of their organization’s digital-first strategy. (Source: Forrester)
77% of healthcare marketers say insights from inbound calls and call experiences may reveal costly blind spots in our organization. (Source: Forrester)
76% of healthcare patients call during their journey. (Source: Invoca)
Consumers researching nursing homes, physical therapists, and chiropractors are the most likely to call healthcare providers after performing a search. (Source: LSA)
30% of healthcare patients call because they can't find what they're looking for online. (Source: Invoca)
41% of healthcare patients avoid calling businesses because of too many transfers. (Source: Invoca)
40% of healthcare patients avoid calling businesses because other methods of contact are faster. (Source: Invoca)
43% of healthcare patients avoid calling businesses because of long wait times. (Source: Invoca)
Insurance industry marketing, sales, and customer experience statistics
Over 50% of insurance searches are performed on mobile devices. (Source: Blue Corona)
Mobile queries that contain “insurance near me” have grown by over 100% in the past two years. (Source: Google)
68% of insurance consumers did not have one company in mind when they started searching. (Source: Invoca)
78% of insurance consumers call a business after running a search. (Source: LSA)
Insurance keywords are among the most expensive in Google Ads and Bing Ads and some can cost $50 or more per click. (Source: WordStream)
The average conversion rate for an insurance search ad is 5.10%. For an insurance display network ad, it’s 1.19%. (Source: WebFX)
$867 is the average amount insurance consumers spent after a search. (Source: LSA)
74% of insurance customers call during the purchasing journey. (Source: Invoca)
Auto insurance shoppers are the most likely to speak to an agent during their purchase journey, followed by home insurance, and health insurance consumers. (Sources: J.D. Power, xAd, xAd, LL Global, S&P Global)
37% of insurance customers avoid calling businesses because of too many transfers. (Source: Invoca)
39% of insurance customers patients avoid calling businesses because other methods of contact are faster. (Source: Invoca)
43% of insurance customers patients avoid calling businesses because of long wait times. (Source: Invoca)
69% of insurance consumers ran a search before making a purchase. (Source: LSA)
62% of insurance buyers said talking with a rep on the phone was the most influential factor in their decision. (Source: xAd)
3 minutes and 24 seconds is the average time consumers wait on hold when calling insurance providers. (Source: Talkdesk)
Telecommunications industry marketing, sales, and customer experience statistics
The global telecom services market size was valued at USD 1,657.7 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 5.4% from 2021 to 2028. (Source: Grand View Research)
68% of telecom customers call during the buying journey. (Source: Invoca)
39% of telco customers avoid calling businesses because of too many transfers. (Source: Invoca)
46% of telco customers avoid calling businesses because other methods of contact are faster. (Source: Invoca)
44% of telco customers avoid calling businesses because of long wait times. (Source: Invoca)
Travel industry marketing, sales, and customer experience statistics
39% of travel marketers will increase their tech spending in the coming year. (Source: WTM)
Travel ad spending is expected to climb 36% in 2022 after rising 24% in 2021. (Source: Zenith)
The U.S. is projected to spend $4.05 billion on travel digital ads in 2022. (Source: eMarketer)
Over 80% of travelers said that they want to stay in sustainable accommodations in 2022. (Source: Booking.com)
Two-thirds of Americans (68%) say they are planning to go big on their next trip. (Source: Expedia)
The average reported leisure travel budget is almost $4,000 for 2022. (Source: Destination Analysts)
1 in 4 remote workers took a 10-day or longer trip in 2021. (Source: Skift)
More than 50% of knowledge workers are predicted to be working remotely by the end of 2021. (Source: Gartner)
More than 50% of tourism website traffic comes from a mobile device. (Source: TwoSixDigital)
63% of travel consumers call during the buying journey. (Source: Invoca)
36% of travel consumers avoid calling businesses because of too many transfers. (Source: Invoca)
39% of travel consumers avoid calling businesses because other methods of contact are faster. (Source: Invoca)
46% of travel consumers avoid calling businesses because of long wait times. (Source: Invoca)
80% of travel marketers consider SEM to be the most effective channel for delivering bookings. (Source: Phocuswright)
Travel has an overall average conversion rate of 4.7%, but top performers convert up to 18.2%. (Source: Ruler Analytics)
What Do These Statistics Tell You?
Conversation intelligence can be a powerful asset for your marketing, sales, and CX teams. By tapping into insights from the voice of your customers, you can make more impactful optimizations to your media spend and deliver seamless omnichannel experiences.
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