Invoca Summit 2022: Our Top 5 Takeaways

Invoca Summit 2022 has officially wrapped! We’d like to thank our speakers and attendees for making the event possible. We had an outstanding turnout this year, and got to soak up insights from customers and partners like Google, Five9, DIRECTV, Yext, Mutual of Omaha, and many more!  

If you missed the event or need a refresher, don’t worry — we’ve got you covered. This blog shares our top 5 takeaways from Invoca Summit 2022.

1. Marketers Need to Spend Smarter to Pull Ahead of the Competition

Depending on which financial analyst you ask, we’re either already in a recession or quickly barrelling toward one. As you know all too well, marketing budgets are often the first thing to go when headwinds hit. But the solution to weathering these economic conditions isn’t to cut marketing spend entirely — that could greatly hinder customer acquisition, putting you in a more difficult position when the economy recovers in a year or two. 

Instead, you need to “spend smarter” to reduce your CPA while continuing to grow customer acqusition. Invoca helps you meet this challenge — its powerful attribution helps you drive more calls that actually convert, generate revenue, and result in long-term customer value. You can also reduce spending on underperforming campaigns that are driving non-sales related calls. This gives you confidence that every marketing dollar is optimized to maximize sales and customer lifetime value. 

Want to learn more about how Invoca can help you navigate the current economic conditions? Check out this blog post.

2. Customer Experience Expectations Are at an All-Time High

Expectations for the customer experience are at an all-time high — 76% of consumers will stop doing business with you after just one bad experience. As others pull back spending on CX due to the worsening economic climate, you have an opportunity to take control of the omnichannel customer experience and bring it to the next level. But improving the customer experience doesn’t have to put a strain on your budget. In fact, the better the experience you provide, the better your conversion rates will be, helping you earn back your investment — and then some.

At Invoca Summit, Mark Loovis, Director of Marketing Technology at DIRECTV shared how Invoca has helped his contact center team provide a better experience to customers. Invoca feeds each agent data about the caller’s digital journey before they’re connected so that they can tailor the conversation accordingly. This has boosted their conversion rate by 100%. Mark shares more about this in the video below:

Want to learn more about Mark’s incredible story? Read the full DIRECTV case study here.

3. Conversation Insights Can Impact Your Bottom Line

The power of conversation is one of the key themes at Invoca Summit this year. Our special guest speaker Celeste Headlee covered this topic in depth in her keynote (see the video clip below). For the uninitiated, Celeste is the award-winning NPR journalist, and author of “We Need To Talk – How To Have Conversations That Matter”. 

Conversations are important not just for individuals, but for brands — they help you understand your customers and build lasting connections with them. At Summit, our customers shared how Invoca helps them capture rich insights from their phone conversations at scale. 

In many cases, conversation insights helped our customers drive efficiencies across the entire organization — from marketing to sales to contact center to CX teams. For example, they can target prospects with better marketing, improve sales scripts and coaching, provide a seamless call experience, and quickly meet customers’ needs.

4. First-Party Data Is Critical for Marketing Success

Data regulations like GDPR, CCPA, and ​​IDFA are limiting marketers’ ability to use third-party data sources and cookies. To thrive in today’s digital ecosystem, you need to use first-party data to target customers and personalize experiences. 

In 2023 and beyond, marketers need to tap into all the data they have at their fingertips: survey data, CRM data, email subscriber data, purchase data, and — you guessed it — conversation intelligence data from phone calls. This will allow you to understand your customers on a deeper level and create more engaging experiences that align with their needs.

In the video below, Jay Calavas, CTO of Tealium, talks about some of the different types of data marketers can tap into, including zero-party data.

5. New Invoca Features to Help You Optimize Your Marketing Budget and Improve Call Experiences

Of course Invoca Summit would not be complete without a sneak peek at the product roadmap. In our product keynote, we announced the following features:

• Enhanced no-code Salesforce CRM integration, part of the Invoca Exchange, gives brands complete visibility into which marketing efforts drive high-value sales opportunities and conversions through closed-loop conversion and revenue reporting. This integration automatically matches closed-won revenue captured in Salesforce with the digital campaigns, ad placements, and paid search keywords that are driving the initial customer interest, even if the sale happens weeks later. This helps brands shift budgets into campaigns that are driving high returns and away from campaigns that are less efficient, increasing overall return on advertising spend.

• Enhancements to cloud Conversational IVR technology help brands reduce call abandonment rates by enabling callers to interact with the IVR’s speech recognition capabilities. The enhanced Conversational IVR now understands both voice and keypress responses, so callers can navigate the IVR hands-free, making it much easier for consumers who call on the go. This can improve the overall caller experience and reduce caller hang-ups.  

• Ring Group Call Routing helps brands answer more sales calls by having Invoca automatically route callers to a list of phone numbers sequentially or simultaneously until an agent answers. This is particularly impactful for brands that route calls to many locations, like automotive service centers or healthcare clinics, where data on unanswered calls is low, and reps are often busy supporting customers in-person.

• Invoca and Five9 integration shares data captured during a consumer’s digital journey with contact center agents in real time. Agents gain access to pre-call data like the products in the consumer’s online shopping cart or the webpage the consumer called from, so they can better anticipate caller needs and more efficiently handle calls. This helps sales agents increase conversion rates and support agents more quickly resolve more customer issues. 

• Out-of-the-box automated QA scorecards help contact center leaders ensure that agents deliver efficient and empathetic conversational experiences. By automatically scoring 100% of calls, Invoca’s AI drastically improves visibility into agent call handling, helping managers and supervisors identify best practices and improve agent coaching and training. The new scorecards provide this visibility on day one, eliminating much of the need to custom build scorecards and train AI models. 

• 11 new out-of-the-box industry-based insight packages automatically derive insight from conversations. These include pre-built insights for healthcare, automotive, senior care, home services, insurance, and more. These packages include 200 unique insights across industries, including “appointment discussed” for automotive service businesses, “new policy inquiry” for insurance providers, and “misrouted/transferred” for hospital and healthcare providers.

In the video below, Invoca’s SVP of Product Management, Nathan Ziv, walks through our Missed Opportunity Signals feature that’s now available for all customers:

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