Improve Your Business Performance with Call Analytics

In most companies, clients will interact with the brand through various channels, such as advertisement, website, call, placing an order, or by phone call. In today’s digital world, the “call step” plays a crucial role in winning the deal. For example, for B2B, before buying a product, potential customers will usually call to find out more details; with the more expensive the product or service is, the more frequently potential buyers will call before making a purchase. As calls are an essential element of companies’ efforts to drive sales and improve customer service, many organizations will try to get a good view of their calling activities. In order to obtain this information, top marketers and leading companies use call analytics solutions; this technology enables the company to implement a data-driven approach to the call channel to improve the customer experience and achieve higher call conversions.

Let’s see what call analytics is and how it can help you to handle business challenges and increase sales and marketing effectiveness.

What Is Call Analytics?

Call analytics is a technology that collects data from inbound and outbound calls for further analysis and helps to turn this information into important business insights. In order to obtain this information, call analysis uses techniques such as call tracking, call recording, and call reporting, and in some cases, it can also include speech analytics. By using these features, call analytics can provide a detailed and comprehensive view of each customer call. Every company’s needs are different, and depending on what you want to achieve, you can use various options of this technology. For example, some companies need to monitor compliance issues and adhering to the rules and scripts by their employees whereas, others want to better understand the customers’ needs.

Call tracking involves collecting data such as the customer’s name, phone number, duration of the call, the day and time of the call. In some cases, call tracking is used to find out the exact number of calls that you received from a specific ad or marketing channel, helping to identify inefficient advertisements and, as a result, save the marketing budget. The call tracking process operates by tracking each inbound call; the call tracking system will identify the number and will link all information with their account, displaying this data in a report. As a result, you know the number of calls from each marketing channel.

Call recording is a function that gives you the ability to record conversations; this provides the company with the ability to listen back to them at a later date and review the conversation. Call recording provides a lot of benefits for a company; it can help with conflict resolution with customers, improve quality service and customers’ satisfaction analysis, as well as help with training new employees. Without the call recording option, the company may lose valuable insights, and therefore, further call analysis will not be as comprehensive.

Speech analytics is a tool that some companies use to automate listening calls and analyze conversations. The process involves using speech recognition technologies to identify specific phrases and sometimes the conversation’s emotional nature. This allows you to quickly find dialogues with specific keywords, themes, or emotions, monitor following sales scripts by sales reps, evaluate employee performance and analyze customers’ behavior. All this information gives you key insights that enable you to identify areas for improvement and actions to increase the number of successful deals. Of course, sales managers can manually listen to sales reps’ calls, but the analysis will often be time-consuming and, in some cases, inaccurate due to human error; due to these factors, speech analytics can make the process significantly easier.

Call reporting is an aspect of call analytics that uses reporting functions that track vital indicators and metrics that are vital to understanding the health of your business and the success of your team. Usually, the data is presented visually in the form of graphs, charts, and dashboards, making it easy for companies to better understand whether their customer experience is moving in the right direction, discover insights and make a good decision.

Using one, all, or a combination of the call analytics options, you can collect and analyze systematized information to obtain valuable insights on improving sales and marketing activities and managing customer calls to maximize business effectiveness.

Let’s take a closer look at each of the call analytics benefits and how they can help to encourage better outcomes for your team.

Advantages of Using Call Analytics

Call Analytics Contribute to Better Understanding of Target Audience

Studying your target audience should be your top priority. By listening and analyzing customer calls, you can learn a lot of useful information about your customer profile and better understand your target audience. You can collect the following data:

• name, gender
• a device used by the caller
• geographic location the call comes from
• potential client’s preferences and needs
• customers’ objections
• a better time to call
• products or services the caller expressed interest in and many other data that may be useful for your target audience research

The main advantage of implementation call analytics is that you don’t waste time collecting all the above information - the system does it for you. Also, reviewing your calls’ content allows you to determine what customers think about your brand, what product or service should be provided, promptly respond to the audience’s demand, and increase customers’ loyalty. Knowing exactly who your customers are and deep insight into prospects’ demographics and behaviors gives you a huge advantage over competitors and helps to win more customers.

Call Analytics Helps to Increase Sales Team Effectiveness

The call recording function allows you to collect, listen and analyze all the conversations between customers and the sales team and use this data to monitor and evaluate employee’s performance. At the same time, the call tracking option provides detailed information on call activity per person, per team, and per different time periods:

• average call duration
• number of missed calls
• number of abandoned calls
• number of answered calls
• number of first-time callers
• number of callbacks

With these indicators, you can improve your team engagement, using different dashboards where your employee can track their performance.

Using the technology of calls analytics, it is easy to understand whether the client was satisfied or not and why, how did your sales reps react, whether they followed the proper scripts, and how many calls were processed. It allows you to identify successful scripts, improve call scenarios, draw interesting conclusions, and apply them in business practice to increase the conversion rate.

Thanks to automated call analytics functions, the system can classify calls, segment prospects, and quickly find out problem areas so that the sales team can work with specific issues or learn best cases without wasting time listening to the entire mass of conversations. The call recording option is beneficial for analyzing lost deals and training newcomers using more experienced sales reps.

Call Analytics Help to Decrease the Level of Leads Loss

A missed call is a missed client; therefore, sometimes, to increase the number of sales, it is enough just not to miss customer calls. The call tracking function helps to check hangs-up that should have been responded to by your sales reps, monitor the number of missed calls and when those calls came in. For example, call analytics can show you that many customers are calling your company when your sales reps are out of the office. Then you may consider redirecting these calls to a certain number at a specific time or change your working hours. Without call tracking, it is hardly possible to understand what the best time is to receive more clients calls and stop losing potential customers.

Call Analytics Tools Help to Improve Ad Efficiency

To get more sales it is crucial to know which marketing source leads to the biggest share of conversions. One of the capabilities of call analytics is to collect detailed information on what ads drive calls; the call tracking function provides reports that display information on the advertising source, channel, or campaign, and sometimes unique keywords of certain requests. Thanks to this, you will know which sources inspired your best leads to call and convert, which advertising brings calls, and which does not. Using this information, sales and marketing teams can make important decisions on further actions and changes in sales strategy; for example, they may use A-B testing to create the most effective marketing campaign by comparing and testing different options. As a result, the company optimizes the budget and invests money ineffective advertising.

Call Analytics Tools Can Help to Ensure Compliance

Even well-trained sales reps are still humans, and humans make mistakes. Unfortunately, the price of some errors can be very high to the company, for example, when it comes down to compliance issues. By having all calls and the conversations analyzed, it is easier to monitor adherence to compliance rules to protect customers’ rights as well as brand reputation. Speech analytic functions can help companies to quickly identify non-compliant behavior during the call and decrease the number of fines and penalties for such issues. This also improves the call center performance and, as a result - customer loyalty. By promptly identifying crucial mistakes, speech analytics helps to establish best practices for your sales reps.

Call Analytics Can Help to Bring Together Sales and Marketing

Call by collecting and analyzing valuable data, call analytics provide transparency of sales and marketing activities and their outcomes; without this information, it is not very easy to solve any conflict situation between these departments. For example, with call tracking, by collecting and analyzing valuable data, call analytics to provide transparency of sales and marketing activities and their outcomes; without this information, it is not very easy to solve any conflict situation between these departments. For example, with call tracking, it is easy to evaluate incoming calls to track the effectiveness of marketing ads.

At the same time, the sales department can use call analytics to get information on the call volume and quality of conversations, improves scripts, and builds better communications for higher conversion rates. When sales and marketing teams are transparent and begin to work as a single team, working towards achieving a common goal, they are more successful at bringing in more customers. Working together rather than wasting time arguing who brings poor traffic and poorly handles calls will ensure that the company is successful. Call analytics allows you to reach this goal faster and more efficiently.

Call analytics is an incredibly powerful tool that helps organizations achieve more impressive business results. It allows you to track and improve lead generation and increase customer satisfaction, invest in more effective marketing campaigns, and better allocate budgets. In the modern business world, data is everything; however, it is worth mentioning that call analytics is not the solution to all business issues - it only opens the door to the information needed to make important management decisions and increase sales, and the more accurate and complete it is, the better are the results.