Why You Need Conversation Intelligence in Your Omnichannel Marketing Strategy
Customer experience expectations are at an all-time high. But today’s buyer journey is more fragmented than ever — a recent Google study found that even a purchase as simple as a candy bar can take upwards of 20 touchpoints! There’s no sugarcoating it: to succeed in this environment, marketers need to connect and optimize all of their channels — including inbound phone calls.
Expectations for the Customer Experience Are Higher Than Ever
- 87% of marketing leaders agree that customer needs are on the rise more than ever before.1
- 74% of consumers are at least somewhat likely to buy based on experiences alone.2
- 32% of customers stop doing business with a brand they love after only one bad experience.3
As a result, enterprise marketers expect to see the following initiatives in the coming year:
- 90% — Improved customer satisfaction will become a top priority1
- 87% — Operational efficiency will become more important1
- 85% — There will be a greater need for visibility and insights around customer calls1
- 82% — There will be a greater desire to explore and utilize more channels1
Phone Calls to Businesses Are on the Rise
- 87% of marketing leaders report an increase in phone conversion rates by 10% in the past 12 months in their organizations.1
- Businesses saw a 32% year-over-year increase in phone call volumes in the first quarter of 20214
Increase in call volumes by industry over the past year:
- 27% Financial Services4
- 23% Healthcare4
- 15% Insurance4
- 9% Retail4
- 8% Automotive4
Inbound Phone Calls Are Often the Most Valuable Conversions
- 84% of marketing leaders report that phone calls have higher conversion rates with larger average order values (AOVs) compared to other forms of engagement.1
- 87% say phone conversion rates have increased by at least 10% over the last year.
Increase in Phone Call Conversion Rates Over the Last 12 Months:
- 10% of companies saw a 50% increase in phone call conversion rates or above1
- 31% of companies saw a 25-49% increase in phone call conversion rates1
- 46% of companies saw a 10-24% increase in phone call conversion rates1
- 12% of companies saw a 1-9% increase in phone call conversion rates1
Increase in Phone Call Conversion Rates by Industry:
Automotive Industry:
- 10% of companies saw a 50% increase in phone call conversion rates or above1
- 30% of companies saw a 25-49% increase in phone call conversion rates1
- 45% of companies saw a 10-24% increase in phone call conversion rates1
- 13% of companies saw a 1-9% increase in phone call conversion rates1
Healthcare Industry:
- 20% of companies saw a 50% increase in phone call conversion rates or above1
- 13% of companies saw a 25-49% increase in phone call conversion rates1
- 47% of companies saw a 10-24% increase in phone call conversion rates1
- 13% of companies saw a 1-9% increase in phone call conversion rates1
Financial Services and Insurance Industry:
- 7% of companies saw a 50% increase in phone call conversion rates or above1
- 36% of companies saw a 25-49% increase in phone call conversion rates1
- 47% of companies saw a 10-24% increase in phone call conversion rates1
- 9% of companies saw a 1-9% increase in phone call conversion rates1
For Many Marketing Teams, Inbound Phone Calls Are a Costly Blind Spot in the Customer Experience
- 72% of marketing leaders find it challenging to get insights into offline customer behavior relative to online behavior.1
- 70% find the transition from online to offline — especially the call channel — is a major blind spot.1
- 60% agree their organizations lack the data to understand and engage prospects and customers.1
But Marketers Can Combat These Challenges With Conversation Intelligence
- 83% of marketing leaders agree that conversation intelligence insights revealed costly blind spots in their organization.1
- 85% agree that inbound calls and phone conversations are a key component of their organization’s digital-first strategy.1
- 49% agree that using conversation intelligence data from phone calls to their business is very important to making marketing decisions.1
Across the Board, Marketers Plan to Increase Adoption of Conversation Intelligence
Top Priorities for the Next Year, According to Marketing Leaders
- 51% want to increase marketing automation usage
- 51% want to invest in marketing automation tools
- 46% want to invest in tools for extracting conversation insights from phone calls1
As a result of scaling conversation intelligence across their business, marketing leaders said they expect to see:
- Enhanced customer experiences
- Increased efficiency and productivity
- Increased revenue growth and profitability1
Marketers who don’t use conversation intelligence data will struggle to compete.
- 89% of marketing leaders find scaling AI-fueled conversation intelligence imperative to stay competitive1
- 93% from businesses with 100+ locations said conversation intelligence is imperative to stay competitive1
Marketers Who Use Conversation Intelligence Rank it Among Their Top Sources of First-Party Data
Top Sources of First-Party Marketing Data, According to Marketing Leaders
- 33% CRM data
- 26% data from phone calls
- 26% insights from search & digital ads1
Top Brands Use Invoca Conversation Intelligence to Drive Better Omnichannel Marketing Results
Digital Market Media
1,000% increase in YoY Revenue
Miracle-Ear
16% Improvement in media efficiency
1-800-GOT-JUNK?
Over 10% increase in bookings — with no incremental spend
GE Appliances
50% decrease in cost per lead
Interested in adding conversation intelligence to your omnichannel marketing strategy? Request your personalized walkthrough of Invoca.
Sources:
- Forrester Report: Unlock Voice-of-the-Customer Insights From the Call Channel to Fuel Marketing and Drive Revenue
- Forbes & Arm Treasure Data
- PWC
- Invoca
