The Mission
The client is a leading multinational financial services company and one of the largest banks in the world by market capitalisation. They operate across personal and commercial banking, wealth management, and investment banking.
The Challenge
This financial services company’s marketing team was investing heavily in digital campaigns to acquire new clients, directing a significant portion of that spend to a dedicated triage number. The goal was to convert these valuable new leads into clients over the phone, with a single qualified lead being worth an estimated £1.5 million to the business.
However, without a way to track the entire customer journey, the team had a critical blind spot: they couldn’t see the true impact of their marketing spend. While their campaigns were successfully driving calls, at a cost of £10,000 per qualified lead, there was no visibility into whether those calls were actually being answered or how many of those leads were being converted.
The Solution
To close the loop and prove the effectiveness of their marketing spend, this financial services company partnered with Invoca.
Connecting Digital Marketing to Calls Reveals Revenue Leakage
The first step was to implement the AI platform to monitor the triage number. The initial readout was a major revelation: the marketing team was successfully driving qualified leads, but almost 50% of calls were going unanswered.
By cross-referencing this with call data, Invoca revealed that the majority of missed calls occurred during peak hours, when the team was already receiving the most calls. This crucial insight pointed to a potential resourcing issue, indicating a capacity bottleneck.
The Results
The data made the true cost of this challenge shockingly clear. By calculating the value of the lost leads, Invoca’s platform demonstrated the scale of the missed opportunity:
- 250 missed qualified leads in the initial period.
- This represented £375 million in lost revenue.
- The lack of visibility also resulted in £2.5 million in wasted marketing spend as they were paying to drive leads that were never converted.
Invoca provided the missing link between this financial services company’s marketing efforts and its phone-based conversions. The team now has the clarity to not only see that their marketing is successfully driving high-value leads but also to identify and solve a critical bottleneck in their conversion funnel. This allows them to optimise their marketing budget with confidence, ensuring that every pound spent translates into a real opportunity for client acquisition and a seamless client experience.
