How to Optimize Marketing ROI with Call Tracking

We all know it – collecting consumer data is vital to any business who wants to optimize online lead conversions. So, how can call tracking help?

From the automotive and financial industry to real estate and home services, this valuable data gives your business the necessary insights into your target audience and demonstrates the success of your marketing endeavors. The data then creates a feedback mechanism for your team to modify and advance your online marketing strategy. 

What isn’t general knowledge, is how to successfully collect the right data on consumers and online leads. Let’s explore this. 

Call tracking is a solution to help marketers collect and measure their online efforts in real-time. Call tracking technology is able to give your business insights into your online leads’ experience on your website and into your sales team’s interactions with your consumers. 

These efforts help to determine what specific  marketing channels are producing phone calls and conversions, and which aren’t. 

Call tracking is an effective way to collect crucial data on your consumers and online leads. 

In this post, we will explore how call tracking can be used to help marketers enhance their online and offline marketing efforts. Call tracking can optimize your  marketing return on investment (ROI) and help to produce custom marketing strategies. 

The Battle of Digital Data Feedback

Today, companies spend more than $330B each year on online advertising to generate leads.  Digital marketing efforts are not only to generate new leads, they are also critical in retaining current customers.

Tracking online marketing metrics allows you to track every set of the shoppers online journey.  It can also provide information on what keywords prompted the shopper to find your website.  

can provide information on how a consumer stumbles upon your website, what information interested them the most, or how they left your website. It can also provide information to what keyword prompted the consumer to find your website. 

Moreover, the dilemma lies with ineffective and inaccurate marketing measurements that marketers run into. 

A BRITE-NYAMA Marketing in Transition Study highlights the “need for improvements in the use of data, the measurement of digital marketing, and the assessment of marketing ROI”. This study surveyed 253 marketing participants from the director level to executives and highlights the need for a better solution for data tracking by depicting the following shocking statistics:

• “39% say their own company’s data is collected too infrequently or not real-time enough”
• “51% say that a lack of sharing consumer data within their own organization is a barrier to effectively measuring their marketing ROI”
• “65% of marketers said that comparing the effectiveness of marketing across different digital media is ‘a major challenge’ for their business”

These statistics show how the industry, as a whole, is lacking in collecting effective and accurate marketing measurements. So, how can this lack of marketing measurement really impact your organization?

The Impact on Your Organization

Marketing without measuring is like throwing a dart – while blindfolded. 

Without information about whether your marketing endeavors are achieving goals, there’s no way to tell if your campaigns are effective or not. Your department could be investing time and money into unsuccessful campaigns that are not producing a substantial marketing ROI. That is time and money wasted. 

We mentioned how valuable tracking data is in every industry. The lack of marketing measurement can negatively affect your organization in customer acquisition and therefore revenue. Your organization needs a way to measure the effectiveness of your marketing strategies and online campaigns. 

Most importantly, your department needs to know if these online marketing initiatives are fulfilling your business goals. 

Each department should have specific long and short term goals that connect with the overall enterprise goals. Either your department needs to know how many prospects you’re retaining with a new campaign, the click-through-rate of a pay-per-click ad, audience increase from website updates, etc.. You have to know if these efforts are achieving tangible (revenue) and intangible (organic traffic) results.

This is where call tracking becomes the ultimate solution. 

Focus Your Aim with Call Tracking Software

Instead of throwing darts randomly towards an unknown target; correct your aim with call tracking software. With call tracking technology, businesses can track the effectiveness of their online and traditional campaign to make smart decisions and increase value to their organization. 

Know What’s Working

One benefit of effective call tracking is the ability to allocate budget toward campaigns producing a substantial return on your investment. Businesses are able to evaluate their ad spend on marketing campaigns that work and optimize those needing improvements.

With real-time call tracking data, marketers can confidently determine which online and traditional marketing efforts will increase value to your business. 

Data is Action Driven

Your business can collect and measure piles of information, but that method can be ineffective if that data is not action-driven. The data collected can provide information into your marketing efforts. Comparing the results with goals and expectations then allows you to take the necessary actions to make advancements. 

Fast Response Rate

Lead routing is a way to ensure that consumers are responded to in five minutes or less. Call tracking technology allows your business to route phone calls based on your strategy and needs. A common practice is to route phone calls to multiple sales representatives to increase the likelihood of someone to be available.

The best part is the ability to route to any device, from a desktop to mobile, so that your sales representative is able to respond no matter their location.  

Boost Sales and Conversions

Sales calls are an effective method for closing more deals. According to a RAIN GROUP study, 71% of buyers want to speak with sellers when he or she is looking for new ways to boost their business. Meaning, online consumers still would like to talk with sales representatives throughout the buying cycle.

Optimizing and focusing your digital advertisements with call tracking can help generate the right kind of phone calls with qualified leads.

How Does Call Tracking Technology Work? 

Call tracking software accurately measures the effectiveness of your online marketing efforts in real-time. This is done by linking each inbound phone call back to its source and uniquely displayed phone number. These sources include online marketing efforts such as social media, paid or search advertisements, to traditional efforts like billboards and direct mail.

Here are some strategies that marketers can implement with their call tracking software. 

What Are the Key Components of Call Tracking Software?

Dynamic Number Insertion (DNI)

Separate and specifically designated phone numbers are displayed to each individual website visitor based on their source. When that online lead clicks on your digital advertisement, this method will generate a designated phone number to call. This allows you to track it back to exactly what sources led them to initiate the call. 

Static Call Tracking

Another call tracking method is displaying certain phone numbers on different marketing sources. This solution can track online and traditional sources. Online sources include social media, digital advertising, and keyword searches. Traditionally placed displays may include newspaper ads, a billboard or local bus wrap. 

Campaign Tracking

As marketers, we have two primary goals to generate valuable leads and to perpetuate brand exposure and product awareness. Marketers tend to operate multiple campaigns such as content, social media, PPC, organic, and email to accomplish these goals.

Inserting designated phone numbers to each campaign allows your business to gain valuable insights. This insight shows which source is driving phone calls and conversions. 

According to the Content Marketing Institute, “If you aren’t tracking phone leads back to your content and through to revenue, you aren’t doing your work justice”. And, “since inbound calls to sales usually turn into revenue at a higher rate than web leads, this could be a significant gap in your reporting of content marketing ROI”. 

Call Recordings

Lastly, call Recordings can provide insights into your sales team interactions with your consumers. It can provide vital training materials for new hires and inexperienced sales reps. Scoring these recordings, and tracking which agents or strategies work best helps improve your overall customer experience. The more consumer data is gathered can increase your likelihood of higher conversions with custom marketing strategy.

Keyword Tracking

For further analysis, call tracking can dive into information about tracking specific keywords. Figure out what keywords drove online leads and consumers to your website with keyword tracking.

Consumers will be given a unique phone number when they pay a visit to your website. This effective tracking method enables your business to gain insights into what type of keywords are gaining conversions. 

Both campaign and keyword tracking can help your marketing team optimize their strategy. This makes for better conversions and can help measure their marketing return on investment (ROI). Additionally, call tracking solutions can help marketers approach a new model for their data collection and analysis, such as “attribution modeling”.

Call Tracking Attribution Model

According to the Harvard Business Review, attribution modeling “allows companies to attribute appropriate credit to each online and offline contact and touchpoint in a customer’s purchase cycle, and understand its role in the revenues that ultimately result”.

This model provides comprehensive insights into your online leads and consumers. It doesn’t matter if your online leads found your website through social media ads or through organic search. The attribution model will pinpoint their online journey to better understand their interaction with your website. 

Call tracking solutions can provide a sense of transparency into your data by consistently tracking in real-time. Most importantly, call tracking software can help marketers “explain and predict” their marketing endeavors moving forward. It can provide instant game-changing analytics with online and traditional marketing campaigns that help improve and increase your ROI.

Calldrip's call tracking software is a powerful solution to your sales enablement needs. Learn more and book a demo today.