Telephone conversations have always been a part of business. But in the past, those conversations were the equivalent of hearsay — “data” demonstrated only by notes, usually handwritten or information committed to memory. Today’s conversations, however, can be machine-processed to supplement a dealership’s customer engagement and marketing goals.
Machine processing allows hard data to be uncovered and analyzed. Extracting data from all customer engagements across all company departments allows you to dissect your dealership’s shortcomings and successes.
Anything that you want tracked is tracked, from objections to product feature mentions. Armed with the knowledge you glean from conversation analytics, you can re-engage those customers with a stronger offer.
The Benefits OF Conversation Analytics
Conversation analytics provides insights into customer behavior when voice data is evaluated. If you record and transcribe all call data, your sales department can understand leads better and focus on targeting those of value. Prospective buyers who have slipped through the cracks in the past can become retargeted leads.
By implementing conversation analytics, you can gain insight into aspects such as averages in: resolution time, messages in each conversation, overall number of conversations, resolution time for different times of year, number of resolution, number of closings, busy times and performance.
You’ll also get a view of the customer journey and all its touchpoints. Normally, companies use this information to help improve the customer experience, but in order to gain real, actionable evidence, you must examine the entire journey, throughout all channels and over a given time period. It’s then that actual pain points begin to present themselves and the opportunity to provide a positive experience arises.
No Data Left Behind — It All Matters
Conversation analytics allows you to monitor keywords and phrases. It even monitors sentiment by analyzing such call aspects as mood and tone. With this data, you can identify missed opportunities. You can even set conversation analytics solutions to alert you to calls in progress that include key words and phrases such as competitors’ names.
Putting it into Perspective
Currently, your reps and support agents most likely take notes during a call within a software program. These notes can vary depending on individual reps and what they deem appropriate or necessary to share. In other words, consistency may be lacking. In fact, the information you’re actually looking for might not even be something your teams have been trained to record. You can’t draw any real conclusions or make truly informed decisions with this type of anecdotal data.
In order to truly understand your customers and capitalize on your findings, conversation analytics can help you measure marketing campaign effectiveness. Are your efforts being rewarded with a high ROI? What are some ways you can verify this? Track phone calls resulting from a visit to your website, track calls from PPC campaigns and/or track your team’s close rates. When you analyze this information, you can see which ads do better over time, leading to an increased volume of sales. You can also see which ads or strategies just aren’t working.
Conversation analytics can also help you increase conversion rates. Phone calls have around a 30-50% conversion rate. To track your marketing efforts’ conversion rates, use a unique phone number per ad. This allows you to track which campaigns are getting the most traction and follow the call throughout the journey, as in: What options did the caller choose? Where was their call routed? How long did they stay on the line?
Conversation analytics give you better insight into actual employee tactics and sales skills. The added benefits of live call analysis allow you to spot opportunities as they arise. When you’re armed with real numbers, you can start setting goals for your various departments and offering a better customer experience.