Most organizations struggle with optimizing their marketing investments to understand what sources produce the most profitable revenue. With digital marketing growth comes the increasing need to know where to apply marketing strategies and expenses.
How do companies use intelligent call tracking and analytics to maximize marketing ROI?
Emergence Of Phone Number Tracking
Back in the day (as us older folks call it), organizations invested in yellow pages, newspapers, billboards, print ads, and other offline marketing. Offline sources with little or no tracking, and no easy way to quantify results. The marketing pioneer John Wanamaker said it best, “Half the money I spend on advertising is wasted; the trouble is I don’t know which half.”
As technology has advanced, call tracking of direct response phone numbers has become increasingly important. You might remember when the yellow pages started listing unique trackable telephone numbers in ads. The tracking numbers let the advertiser know how many calls came from that particular ad source or Yellow Pages edition. Such rudimentary tracking was good a good start, but only told a portion of the story. And, we all know what happened to the Yellow Pages.
The digital age has advanced marketing analytics with its buzzy category, MarTech, or marketing technology. Marketers often tout their “MarTech stack” with pride, like woodworkers admiring fine joinery. The “stack” can often involve a complex blend of software, service providers, micro-services, and API integrators to keep it all running smoothly. Often, the investment pays off with better intelligence and data, greatly reducing the waste that Wanamaker feared.
Digital sources are dominating today’s ad budgets. Online campaigns can quickly adapt by collecting data about clicks, keyword searches, visits, referring websites, and other digital analytics. And some of those legacy sources, once considered non-digital and poorly tracked, are seeing a significant rise in trackability. Specifically, call tracking in print, broadcast, out of home, and even digital advertising. Many marketers are learning the value of digital call analytics and the power the information provides to track an inbound lead through the sales funnel to profitable revenue.
Call Tracking In The MarTech Stack
Call tracking involves the ability to use unique, dynamic telephone numbers in countless ways, such as different numbers on each billboard or unique numbers based on geographic zones. With this strategy, companies are now able to see how many calls came from each ad source. And for search ads, what search terms were used. Once the technology is in place, marketers can monitor prospective customers through the journey, all the way to revenue. In other words, nirvana for a CMO and digital marketing team.
Dynamic Number Insertion often referred to as DNI, has changed the game for CMO’s and their marketing teams. This enhancement to call tracking allows them to receive reports showing the specifics of the key phrase searched by time of day, followed by the action they took. It will enable them to personalize how the sales team handles the call. For instance, for someone calling from Texas, you might handle it differently than one coming from Seattle.
With the knowledge and sophistication of new digital age call analytics, organizations are better understanding every dollar they spend on marketing. Now, they can tell if $1 invested becomes $100 in revenue or $0.
For help optimizing your marketing investment with dynamic call tracking numbers, Contact Us.