The Call Tracking Market in 2020
It’s absolutely critical for call tracking applications to provide analytics and real-time intelligence.
By Pete Christianson
The proliferation of smartphones and communications technology has made the digital marketing landscape more complex than ever. There are more ways than ever for brands to reach customers, and almost just as many ways for customers to contact businesses and make purchases.
So, that means it’s absolutely critical for call tracking applications to provide analytics and real-time intelligence. Employing these capabilities will allow your call tracking application to meet the demands of today’s omnichannel marketing landscape.
In a recent Target Marketing study, there were two key issues that businesses ranked in the top four marketing challenges:
- Accessing data across channels.
- Recognizing a customer on different channels or devices.
A modern call tracking application helps businesses overcome both of these challenges. But, this relies on critical decision making around building the right capabilities, supported by the right career.
What’s the market opportunity?
Here are some key data points to help get a sense of the opportunity and value created by call tracking applications today.
- 88% of website visitors are more likely to contact a business if there’s a click-to-call widget on the website.
- About $4 trillion of U.S. consumer spending starts online, and finishes with an offline conversion. And, phone calls influence an estimated $1 trillion of that offline conversion revenue.
- 60% of customers prefer to call local businesses on the phone.
- 64% of customers get irritated when a business’s website doesn’t list a phone number.
There are two major takeaways from these call tracking market stats. First, call commerce accounts for a significant portion of most businesses’ revenue. Which means that call tracking is necessary for these businesses to track spending and optimize marketing ROI.
Second, most businesses generate inbound phone calls through multiple channels, including at least one digital source. So, businesses need call tracking software that delivers the analytics data to attribute conversions across multiple channels and provides intelligence that helps sales teams maximize conversions from each marketing channel.
The need for call tracking capabilities is higher than ever. But, the demands on these applications to deliver superior customer experiences are also higher than ever.
To find out how you can differentiate your call tracking application to increase value and maximize market share, check out our infographic Call Tracking Application.