SANTA BARBARA, CA, October 4, 2022 – Invoca, the cloud leader in AI-powered conversation intelligence for revenue teams, who recently raised $83 million in Series F equity financing at a valuation of $1.1 billion, announced new capabilities to help brands drive more efficient marketing, faster revenue growth, and better customer experiences amidst a challenging economy. These announcements came during the company’s 8th annual Invoca Summit, the premier conversation intelligence conference for marketing, contact center, and customer experience professionals.
"With inflation at a 40-year high and uncertainty about a recession, revenue executives are becoming more disciplined about their paid media expenditures and technology investments," said Gregg Johnson, CEO of Invoca. "They're cutting back on underperforming and unmeasurable spending and doubling down on tactics that deliver proven returns. Brands that invest in the data and analytics that reveal what's working and what's not — at every step of the buyer's journey — are much better positioned to stand out and gain market share now and when the economy recovers."
The marketing imperative: Focus on media efficiency and measurable ROI
Marketers charged with driving customer acquisition across online and offline channels often face challenges when measuring which of their customer acquisition efforts actually led to sales. Invoca helps marketers connect their media investments to campaign-driven conversions that happen in their contact center, revealing exactly which campaigns are performing and delivering high return on investment.
Expectations for the voice channel are high, and the customer experience has never been more critical
In today’s high-inflation environment, consumers expect a much higher level of personalization over the phone versus online, digital channels. According to a recent survey, two-thirds of consumers said they’d happily pay a price premium to get good customer service over the phone, and it’s that “make-or-break” moment when brands either earn a lifetime customer or risk losing them forever.
During Invoca Summit, Mark Loovis, the Sr. Director – Marketing Technology at DIRECTV shared, “Being able to get an omnichannel view of the customer experience is invaluable. With Invoca, we can quickly identify issues in the buyer journey and correct them. It’s had a huge impact on our conversion rate. Now, when a rep picks up the phone, they know what pages the customer is interested in and what features they want. Our reps' conversion rates have gone up 100%.”
With the vast majority of contact centers reviewing less than 1% of their agents' calls, quality assurance (QA) teams will never analyze most customer conversations to ensure proper agent performance. This leads to missed sales opportunities and lost revenue. Using Invoca's natural language processing (NLP) and speech analytics, brands can quickly uncover those missed opportunities, converting more callers to customers.
Conversation data and insights can go beyond organizational boundaries, identifying ways to impact the bottom line
Rates of unanswered calls to businesses are through the roof, resulting in lost sales when calls go to voicemail or when buyers hang up before speaking with an agent. Research shared during Invoca Summit found that 49% of calls to banks and lenders went unanswered, followed by 45% for telecommunications and 39% for insurance.
New features make it easy for brands to reduce unanswered sales calls and follow up with non-converting consumers via digital or human re-engagement.
Keep the Conversations Going Through Invoca Summit and Beyond
Invoca Summit welcomed hundreds of customers, partners, prospects, and dozens of industry-leading speakers. The two-day event featured informative sessions from Auto Genius, Banner Health, Christian Brothers Automotive, DIRECTV, Five9, Google, MoneySolver, Mutual of Omaha, Ochsner Health, Yext and more, in addition to a keynote from an internationally recognized expert on conversation and communication, Celeste Headlee. Those interested in learning more about Invoca’s industry-leading conversation intelligence can watch Invoca Summit on-demand or attend an upcoming in-person roadshow event.
Invoca is the cloud leader in AI-powered conversation intelligence for revenue teams that enables marketing, sales, customer experience, and eCommerce teams to understand and immediately act on the information consumers share via conversations. Through deep integrations with leading technology platforms, revenue teams can turn conversation data into automated action to enhance every digital touchpoint and human interaction, leading to better experiences, more conversions, and higher revenue. Invoca is trusted by top brands like Dish Network, Mayo Clinic, Mutual of Omaha, and 1-800-GOT-JUNK?. Invoca has raised $184M from leading venture capitalists including Upfront Ventures, Accel, Silver Lake Waterman, H.I.G. Growth Partners, and Salesforce Ventures. For more information, visit www.invoca.com.