March 8, 2016
Financial services company uses call intelligence to optimize its search marketing for high value conversations, driving twice as many inbound calls as web leads
SANTA BARBARA, CALIF., March 8, 2016 — Invoca, the call intelligence company, announced that SunTrust Bank, one of the nation’s largest financial services organizations, is driving twice as many inbound calls as web leads due to implementing Invoca’s Call Intelligence Platform. With Invoca, SunTrust Bank optimized its search marketing to generate high-converting inbound calls, and used insights from these conversations to create a consistent and seamless experience across channels for prospects and customers.
By working with Invoca, SunTrust Bank:
Discovering and Driving Inbound Calls
Historically, anyone who clicked on a paid search ad from SunTrust Bank was directed to an online form that had up to 50 fields to fill out. However, SunTrust Bank didn’t know that it was spending money to deliver the wrong experience to those who were researching financial products online.
“After working with Invoca, we discovered that nearly two thirds of inbound leads from our mortgage division came from phone calls – people really wanted to talk to us,” said Brennie Conkle, VP of paid search and digital capabilities marketing, SunTrust Bank. “With Invoca we’ve been able to evolve our digital marketing programs while maintaining the personal connection of a conversation, which we now know is a critical touch point in the SunTrust customer journey.”
SunTrust Bank was able to identify which ad campaigns — down to the keyword — were driving calls, and which calls ended in a sale. Through Invoca Connect, SunTrust Bank integrated this data with third party search advertising and marketing automation technologies, including Adobe and Salesforce, to create a seamless and consistent customer experience.
Armed with new insights, the marketing team adjusted its advertising copy to encourage customers to call SunTrust Bank and optimized its search marketing spend to focus on the keywords that generated the highest converting calls. By working with Invoca, SunTrust Bank drives twice as many inbound calls as inbound web leads. This is vital, as calls are 10 to 15 times more likely to convert to a sale than a click. Additionally, average call times have increased from four minutes to 16 minutes. Associates are now taking applications and consulting with customers, not just quickly answering questions.
Creating a Better Customer Experience
SunTrust Bank wanted to go beyond tracking and ad optimization to ensure that every customer who called would have the same personalized and streamlined experience they would have online. Before Invoca, this proved challenging: SunTrust Bank offers more than 100 products in its mortgage category, let alone other offerings like checking, long-term savings and personal loans.
Invoca retrieves real-time insights about a caller from the ad campaign or keyword driving the call, as well as the caller’s personal history with the bank’s website and call center. Using this information, Invoca routes an incoming call to the most appropriate agent. With this level of optimization, SunTrust Bank increased call center efficiency by 60 percent with the same staffing levels.
“SunTrust Bank understands that today’s consumers value personal conversations as a key part of their path to purchase — especially for important financial decisions like taking out a mortgage. To deliver a truly personalized customer journey, SunTrust Bank knew they needed to blend call intelligence with digital experience,” said Kyle Christensen, VP of marketing, Invoca. “By using Invoca to optimize those conversations, they were able to turn once untapped customer interest into measurable, high-value interactions.”
Hear more about how SunTrust Bank is using Invoca’s Call Intelligence platform in our featured customer video: https://www.invoca.com/customers/
Invoca helps the modern marketer optimize for the most important step in the customer journey: the phone call. With Invoca’s Voice Marketing Cloud, marketers can get granular campaign attribution to understand why customers are calling, gain real-time intelligence about who’s calling and analyze what’s being said in conversations. Marketers can put this data to work directly in the Voice Marketing Cloud by automating the ideal customer experience before, during and after each call. With an ecosystem of over 30 technology partners, marketers can inject call intelligence into their existing technology stack, giving them the ability to orchestrate a true omnichannel customer journey. Invoca is backed by Morgan Stanley Alternative Investment Partners, Accel Partners, Upfront Ventures, Rincon Venture Partners, Salesforce Ventures, and Stepstone. For more information, please visit www.invoca.com.
About SunTrust Banks, Inc.
SunTrust Banks, Inc., one of the nation’s largest financial services organizations, is dedicated to Lighting the Way to Financial Well-Being for its clients and communities. Headquartered in Atlanta, the company serves a broad range of consumer, commercial, corporate and institutional clients. As of June 30, 2015, SunTrust had total assets of $188.9 billion and total deposits of $144.9 billion. Through its flagship subsidiary, SunTrust Bank, the company operates an extensive branch and ATM network throughout the high-growth Southeast and Mid-Atlantic States and a full array of technology-based, 24-hour delivery channels. The company also serves clients in selected markets nationally. Its primary businesses include deposit, credit, trust and investment services. Through its various subsidiaries, the company provides mortgage banking, asset management, securities brokerage, and capital market services. SunTrust’s Internet address is suntrust.com.