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Can you find the missing marketing data that killed your return on ad spend? It’s a real marketing whodunnit! Okay, spoiler alert, the data that most marketers are missing is from marketing-driven phone calls. When you spend your marketing dollars on campaigns that result in leads calling to make a purchase, set an appointment, or get a quote, you probably lose track of attribution the second they pick up the phone.
When you’re missing visibility into the outcome of the calls your marketing team drives, you’re probably underestimating the revenue you’re actually driving and wasting precious budget on ineffective marketing campaigns.
Here are five ways that this missing marketing data is killing your ROAS.
For marketers in high-stakes purchase categories like automotive, home services, healthcare, and financial services, more than half of your conversions may be happening on the phone. If you can’t account for these conversions when you’re calculating acquisition costs and ROAS, your CPA will be over-inflated while ROAS is under-reported. It’s a double-whammy of selling yourself short. In today’s world of shrinking ad budgets, you need to make sure to account for every conversion that your campaigns are driving to defend the budget you have.
With conversation intelligence, you don’t have to guess about how digital campaigns are impacting call-based sales. As you can see in the example below, in the “before” scenario when measuring online conversions only, the marketer understands their CPA to be $200 based on 50 total conversions. When they incorporate accurate call conversions — the “after” scenario — they get visibility into the additional 50 conversions that happened by phone, increasing their total conversions to 100 and revealing a true CPA of $100.
Through Invoca's Google Ads integration, you can create that sweet, sweet closed-loop attribution across all conversion types, tying them directly back to their PPC campaigns on a 1:1 consumer level. With accurate measurement, you finally achieve visibility into the actual business impact of your campaigns and understand their true CPA.
Check out this case study to see how Rogers Communications reduced its CPA over 80% and doubled its volume of qualified leads.
Many marketers rely on counting the number of calls that their campaigns drive in order to determine performance. Just counting calls is not an accurate measure of the success of your campaigns because many of those calls might not be conversions—they could be customer service calls, people calling for driving directions, or anything else you can think of that’s not a conversion.
Here’s an example of how using call volume instead of conversion volume throws everything off. If you’re just looking at call volume, you would put your money behind the “Corp Bank Trust” keyword. But once you can see the conversions that happen on the phone, you’ll see you put the money in the wrong place as “first-time mortgage” was actually driving more conversions.
Additionally, you may not be counting calls that come from organic and direct website traffic, email campaigns, direct mail, and other channels where counting calls is difficult. This means you’re selling yourself short and not getting credit for all of the conversions that you drive. Either way, using call volume for attributing conversions throws off all of your calculations.
With AI-powered conversation intelligence, you can automatically assign unique phone numbers to each campaign and each caller, so you know exactly where every call your marketing drives comes from. It also uses AI to detect conversion actions that occur on calls (or not!) so you can push this data to your ad platforms to optimize keyword bidding and make sure you’re not putting money behind ineffective keywords and ads.
Read this case study to see how Banner Health uses Invoca to optimize media spend, reduce its acquisition costs by nearly 75% and increase its call conversion rate by 35%.
Ad suppression is a key tool in the digital marketer's toolkit to eliminate wasted ad spend by ensuring that they aren't serving (and paying for) ads shown to existing or recently-acquired customers. However, this can become a challenge if those conversions are happening offline. If you don’t know whether or not a lead converted on the phone, you have no way of knowing if ads need to be suppressed or if the lead should be added to nurture and retargeting streams.
By tracking all call conversions with Invoca and pushing this information into ad platforms like Google Marketing Platform, Skai, or Marin Software, marketers can automatically suppress ads to those who have already converted over the phone. This not only reduces wasted ad spend, it prevents you from annoying your new customers with irrelevant ads.
Read this blog post to learn more about how you can reduce wasted ad spend by using conversation intelligence to accurately retarget your leads.
Every keyword bid, bit of ad copy, and optimization decision you make is backed by data analytics. You’ve probably got a spreadsheet to track what sandwich drives the best lunchtime results. But when it comes to calls, you might think you have to make an educated guess. If you don’t have a way to get attribution at scale for your call-driving marketing campaigns, it seems like the only option.
In today’s economic environment, though, guessing about any of the revenue you drive is risky business. If you’re making assumptions about call conversions, you’re probably making bad marketing optimization decisions that waste precious marketing dollars. This puts your budget at risk.
Try this Marketing Assumption Cost Calculator to see how much guessing about calls is costing you.
Invoca provides a complete solution for attributing and analyzing phone call conversions from Google Ads and other ad platforms, making it easy for you to get the right data on calls in your Google Ads accounts to optimize Smart Bidding and Data–Driven Attribution modeling (DDA). We’re using Google Ads as an example here, but you can use Invoca in a similar fashion with virtually any ad platform. With conversation intelligence you can:
Check out these Google Ads success stories to see how leading brands use conversation intelligence to drive big optimization results.
Most marketers don’t think about how the call experience can impact their conversion rates, and rightfully so. The contact center is siloed far and away from marketing, and you don’t usually have much control over what happens once a customer decides to pick up the phone.
With Invoca, you can collaborate better with the contact center or business locations through shared data to make sure callers have a better experience. The calls from your ads and web pages can be routed to the contact center or individual business locations based on digital intent signals. By determining things like product interest, where the customer was on the website, promos they clicked on, what they have in their cart, and more, you can make sure calls are getting routed to the right place the first time.
By reducing transfers and hold times, your customers are going to be more likely to convert and less likely to hang up before they can complete a purchase. This means a better conversion rate for you and happier, more loyal customers. It’s a win-win.
Get the Ultimate Guide to Conversation Intelligence for Marketers to see how you can optimize your marketing and get more from every dollar that you spend.
