We’ve written a lot of blog posts about what Conversation Analtyics can do, how it works, and how marketers can use it to make more money.
This post won’t be that specific.
Rather, this post will focus on why Conversation Analytics matters in the broader marketing analytics landscape. In other words: why should the marketing world care about this?
We spoke about Conversation Analytics at multiple trade shows. After one of our presentations, someone in the audience came up and said, “So this is like call analytics that are as deep and contextualized as web analytics?”
I had never thought about Conversation Analytics in that way before. But, he was right. Conversation Analytics, for the first time, provide call analytics that are on-par with web analytics.
Web analytics platforms are deep.
The data they provide is powerful. Call tracking platforms, on the other hand, have been, admittedly, very shallow. Most call tracking providers simply provide data about the campaign and ad that generated a call. That’s, of course, great data. But it is hardly ‘deep.’ And it doesn’t even compare to the level of data provided by most web analytics platforms.
It’s not even in the same ballpark.
Conversation Analytics changes that. Instead of simply providing referring data about calls, Conversation Analytics now provides in-depth and granular information about what happened on the call.
Companies that invest in in-depth analytics have a three-year revenue growth that is more than 40% higher than other companies.
There are 420 BILLION words spoken each day between U.S. businesses and their customers/prospects.
That is a lot of words. That’s also a lot of untapped data.
Conversation Analytics is analyzing huge data sets. We’re crunching data from each of those words, phrases, voice intonation, rate of speech, volume, pitch and even call silence.
That’s big data.
Conversation Analytics matters because it brings big data sets to phone calls. This is a Fortune 100 company’s dream.
To be honest, we’re not even sure how powerful the data within calls could be to marketers. This is a totally untapped set of data. Never before have marketers have the words of actual phone calls at their disposal to make decisions, gather customer intelligence, remarket, automate, and calculate ROI.
This new data set is like finding a new vein of gold in a mountainside. We don’t know how far the vein runs or how much gold is in it. But we do know the possibilities are significant.
There is data in phone conversations that can change businesses forever.
The only thing that matters in 2015 and beyond is automation. Manual processes are dead.
This is another reason Conversation Analytics matters: it expedites automation.
For example, when the words said on the call indicate that an opportunity was missed, a Webhook can trigger a workflow to your email marketing platform or in your CRM.
Or, if a lead score is high, based on the words in a phone call, a trigger can be sent to your CRM specifying that the lead get a call back tomorrow, or be assigned to a different sales rep.
Conversation Analytics is automating the call marketing optimization process.