There are scores of technical terms used in the call tracking industry, and many of them start to sound the same after a while. Some of these phrases actually mean the same thing; for example, call tracking and call measurement both refer to using unique phone numbers to measure the reach and effectiveness of every advertising piece you put out.
Others sound similar but have completely different meanings. Take, for instance, call monitoring and call evaluation. Here’s a cheat sheet to the differences between these two terms.
Call monitoring is typically when a company chooses to listen in on (monitor) inbound calls on their own. It is the “DIY” solution—however, unlike many projects that are actually doable, this DIY is much more difficult and requires time, infrastructure, employee training, and top-down adherence in order to actually work.
A business may have call recordings and other metrics in the system they use to monitor calls, but depending on their call monitoring process, they may not have real-time call monitoring; that is, the company may not have someone going through and actually listening to what’s going on between customers and employees during calls on a regular (hourly, daily, or at the longest, weekly) basis.
For almost every company, their core competency is not recording phone calls and monitoring them. So when they spend time doing their own call tracking and monitoring, it brings up a few questions:
- What’s the opportunity cost? What other opportunities to advance and improve their actual business opportunities are they missing because they are fiddling with self-monitoring?
- How much of their budget are they spending to listen to a small sample of calls that may or may not be representative of all calls? With self-monitoring, the outlying costs of call monitoring may be more than is necessary to have a small sample of calls listened to.
- Is there a better way to evaluate their employees and guarantee a positive customer experience? When learning that monitoring their own calls may be less than effective, many companies just stop listening altogether. That is the last thing you should do.
There is a better way:
With call evaluation, your business is partnering with an unbiased third party that specializes in grading calls and providing real-time analytics. Every call is listened to—not just a small sample of calls—and the results are available in real time.
With call evaluation, you’re still in control (and perhaps have even more control) because your call evaluation partner will give you even more accountability to your processes, actionable data, and, most importantly, the opportunity to save missed opportunities and turn them into business.
Whereas companies who self-monitor their calls may be wasting valuable time trying to do a job they aren’t experts in, companies who use call evaluation have an expert on-hand; at Callcap, each company we partner with is paired with a consultant whose entire job is based around bringing more value to your phone calls. Recently, we surveyed 107 businesses. Of these businesses, most believed they were converting 80% of their calls into new customer opportunities. But when measured with our call evaluation technology, Callsurance, the average conversion rate was actually 47.5%. This means 52 out of every 100 calls were potential sales that were just plain blown, and, in all likelihood, went to a competitor—on average, the loss of revenue was nearly $1.2 million.
Don’t try to DIY when you need a professional.
Statistically, it is much more difficult to catch customers who may be falling through the cracks when you are trying to do call monitoring yourself under the stressors of limited time, training, and employee resources. It makes financial sense to hire a professional call evaluation partner who can help you make more money, save customers from going to your competition, and improve your reputation.