12 February 2015

What’s The ROI On Call Measurement?

So you’ve thought about call measurement and how it could help your company. But after you boil everything down, you seem to come back to the same question—what’s the return on investment (ROI)? That’s a valid question. And if you’re like most people, you’re thinking about the answer in terms of dollar signs.

Simply put, yes—call measurement can significantly increase your revenue. To figure out how, let’s look beyond dollar amounts at the additional value call measurement can provide for your company.

The Value Of Call Measurement

Let’s say a plumbing service—”Flush Masters”—has ads running on the radio, in the newspaper, and on TV. They’d like to know how much of their business is generated from each marketing channel, so they decide to use a call measurement service and assign a different call tracking number to each marketing platform. This means that the company will know where a customer heard or saw their advertisement based on the phone number they use to call in.

By tracking which numbers were called, they realize that most of their business is generated from newspaper and radio ads, but not much by TV. So they decide to stop spending on TV ads because those aren’t making money, and put a little more toward newspaper and radio ads.

They also realize that a majority of their calls are coming in at 6 p.m. on weeknights. In order to miss fewer calls, they decide to revise their staff’s hours so more people are working during this peak. They’re also able to schedule fewer people during what data showed as being “slow” hours.

What does that mean for Flush Masters?

By using call measurement, Flush Masters was able to adjust their specific marketing methods to get the maximum ROI on their advertising. They were also able to adjust their scheduling to be more efficient, which saves them money. Basically, they were able to dig deeper into their data and find things to improve upon. This not only increases ROI on lower level, specific campaigns, but increases their company’s ROI as a whole.

The Benefits Don’t Stop There

Along with improving ROI for a company’s marketing campaigns and scheduling efficiencies, there are several other things call measurement can do that add up to an overall increase in ROI.

  • Improved customer service. Generally, when customer service representatives (CSRs) know their calls are being recorded, they’ll try a little harder to provide good service. And if they don’t, you’ll know—you can act based on proof instead of hearsay.
  • More opportunities to train current employees. By monitoring calls, you’ll see exactly where your CSRs are having trouble and what additional training they need. Offering additional training instead of firing and replacing employees can save you thousands annually.
  • Protection from front line liabilities. Call monitoring gives you peace of mind knowing that employee interactions with customers are being monitored. There’s no “he said/she said” about what really happened between your front line and a customer on a call because the conversations are available for review in near-real time.
  • Better understanding of the customers’ feelings. Hearing entire calls, especially those that are handled by multiple representatives, gives real-life examples that can reveal frustrations or concerns that you may not otherwise be aware of. This insight can be used to revise scripts to avoid pain points or train employees on handling frustrated callers with sensitivity.
  • Misrouted calls and broken processes can be fixed. Managers can be alerted of mistakes in near real-time and can make corrections quickly when needed.
  • Problem areas are highlighted. With data trends in call dispositions, you’ll know the areas you need to work on so you can make the biggest impact.
  • Second chance for missed opportunities. You’ll get another chance to correct errors or mistakes that were made on calls that were lost.

The bottom line is this: you get more than increased profit when you track calls. Ultimately, an increased market share is the goal of call measurement, but the return includes more than just money. With the data you collect, you’ll be able to make improvements in management decisions, employee success, and customer experience. So when asking what the return will be on your investment in call measurement, the answer is money—but also so much more.