The average inbound call converts 29% of the time.
This statistic comes from analyzing millions of calls across dozens of industries. However, our data has also shown that when a number of events occur during a phone call the conversion rate jumps to 80% or higher.
Phone calls offer high quality business leads. The question is, which elements need to take place during the call to significantly enhance conversion rates?
Let’s start by examining what a ‘converted call’ means.
A converted phone call involves one of the following four actions:
– An appointment was scheduled
– A sale was made
– A reservation was set
– The caller made a commitment to buy
The type of conversion is obviously dependent on the specific business or industry. For example, calls made to a chiropractor’s office will be classified as a converted call if an appointment is scheduled. Whereas inbound calls to a car rental business will be defined as a conversion if a reservation is made.
We are able to collect and analyze this type of data with Convirza’s Conversation Analytics.
A combination of high-level speech recognition technology, and hundreds of thousands of distinct algorithms, gives Conversation Analytics the ability to extract valuable data from phone calls.
Millions of call segments are being processed with Conversation Analytics every month.
Convirza’s Conversation Analytics has made it possible for us to see what takes place on phone calls that convert versus those that don’t.
When any combination of at least eight out of 10 things occur on a phone call the call will result in a conversion more than 80% of the time:
1) Compliments: When a caller uses words or phrases that praise the product, service or agent.
2) Politeness: The caller uses words, phrases and speaks in a tone that indicates politeness.
3) Sales Inquiry: The caller inquires about a product or service during the phone call.
4) Acquired Address: The caller provides Information regarding physical address.
5) Acquired Phone Number: Having a caller provide a phone number during the call.
6) Acquired Name: The caller states their name to the agent.
7) Determine Needs: When the agent asks open-ended questions to establish the needs of the caller.
8) Ownership Language: When the agent uses phrases that take responsibility for the caller’s requests such as “What I can do is…” and “I can assist you with that.”
9) Phone Etiquette: A high level of agent professionalism and phone etiquette.
10) Ask for Business: This is a big one. When agents ask for the business calls are found to convert 3X more frequently.
Take advantage of Conversation Analytics to discover exactly what’s happening on your phone calls and determine how to get the results you want.