Where should you start with call tracking? How will it improve your business?
The service provides a huge amount of information about marketing response and these four tips will show you how you can get started.
Call tracking is about finding out which areas of your marketing produces telephone leads. Then you can focus your efforts and start making changes which will improve your marketing performance.
Here are four key call tracking tips to get you started:
- Capture and Classify Leads in Your CRM
- Track Telephone Leads to Sales Revenue
- Prioritise Your Marketing Budget
- Monitor Outsourced Providers
TIP 1 – Capture and Classify Leads in Your CRM
If the products that your business sells have either a degree of complexity, value or quality, such as luxury goods, financial services, automotive, legal, healthcare or travel, the chances are high that customers will use the telephone to enquire about your services.
These enquiries are valuable leads that companies (much to the frustration of their marketing agency and marketers) often fail to correctly capture and classify in their CRM systems. This is because it can be difficult. Unlike online form-based leads, telephone calls have historically not been automatically captured with their lead source information. Call tracking changed all this.
Classifying the lead allows you to allocate data such lead source (e.g. PPC, Organic, Print), keyword and referrer to your calls. Instantly your business has complete information about of all the leads it receives and, most importantly, what part of the marketing budget generated the lead.
Look at the Mediahawk report snippet below. You can easily see your leads and the sources that generated them. You can export this data and import it straight into your CRM, or simply update your lead record with the data you choose.
Use this information to correctly enter the lead onto your CRM system.
TIP 2 – Track Telephone Leads to Sales Revenue
Once you have captured the lead and accurately classified it, you can easily track the lead through your lead management/measurement system. A typical lead process might progress from ‘lead’ through to ‘opportunity’, then to either ‘closed win’ or ‘closed loss’.
Because all leads have been classified, including the lead enquiry method (e.g. phone or email), your business will see:
- Which source, keyword, or offline advertisements produce telephone leads and subsequent sales revenue
- How telephone leads convert compared to online leads
- Which lead sources fail to convert to sales – which is just as important as those that do!
A typical view from your CRM (below) shows how simple it is to now see a complete list of opportunities and their lead source. Of course you could equally be looking at the list of wins or loses and which advert they responded to.
These two tips are really lead management best practice techniques and work with both small and large companies.
TIP 3 – Prioritise Your Marketing Budget
It makes sense to spend your marketing budget in areas which generate leads. Once you understand which areas of your marketing spend are generating leads and revenue there is a simple technique you should use to allocate your budget effectively.
Cost per Response (CPR). The cost to acquire a new client is high, so this is a metric you should constantly monitor. Advertising contributes to these costs and, while referrals are seemingly free, there’s a price behind converting those prospects into clients.
You should use call tracking software to sort your expenditure by CPR. You can do this by source, keyword or even offline advertisement channel (e.g. national press). If you know that one advert or keyword is costing a great deal but generating little telephone response you should be diverting that spend to more effective options.
The screen snippet below is from our offline advertising reporting package. The two right-hand columns show how simple it is to measure cost per response using Mediahawk’s call tracking software.
TIP 4 – Monitor Outsourced Providers
Most companies have a degree of outsourcing these days. Great, but it can be very difficult to gauge the quality of the service providers. Call tracking is a seamless way of monitoring and measuring these services.
Two common areas to start with are:
- PPC/Search Agency Performance. The purpose is to provide your business with quality leads. Call tracking will allow you to monitor the exact performance of your PPC/search agency. Mediahawk’s most successful clients and agencies work hand in hand to improve the effectiveness of their PPC and Search strategy.
- Out-of-hours telephone answering. Call tracking software will not only allow you to playback all the calls your outsource partner receives, but you can check how quickly the phone is answered or whether it rings engaged.
Great Call Tracking Tips
These call tracking tips should get you well on the way to improving your marketing spend and lead generation. If you would like us to cover other areas, please get in touch.
Image credit: Mervi Eskelinen