Our latest infographic reveals some pretty stunning data about the differences between converted calls and non-converted calls.
In other words, what happens on a call when there is a conversion event (Appointment Set, Sale Made, Commitment to Buy, or Reservation Made) vs. when there is not a conversion event?
The data used for this infographic was extracted from millions of call segments from dozens of different industries that ran through our Conversation Analytics engine in the first 4 months of 2014.
Conversation Analytics utilizes speech recognition technology and thousands of algorithms to actually extract data from phone calls themselves. It can literally listen to calls and determine what happened in the conversation itself. This is the method we used to gather the data in the infographic.
The data showed that if any 8 of 10 specific things occurred on a phone call, the prospect converted to a customer at least 80% of the time.
Here is a list of the 10 things. Remember that if 8 of them occur on a call, that call will ‘Convert’ at an 80%+ rate:
– Compliment – The caller used phrases and/or words that were complimentary of the agent, company, or product.
– Politeness – The caller uses phrases and/or words that were polite to the agent.
– Acquired Address – The agent acquired an address–even a city–during the call.
– Acquired Name – The agent got the caller’s name.
– Phone Number – The agent got the caller’s phone number.
– Sales Inquiry – The caller was calling in to inquire about a product or service.
– Ask for the Business – The agent asked the caller directly to become a customer. This is a critical thing that previous infographics have discussed.
– Ownership Language – The agent took ownership of the call, indicating that the caller ‘called the right place’ or ‘I can help you.’
– Determine Needs – The caller effectively determined the needs of the caller. This includes asking open-ended questions and effectively responding to them.
– Common Sense: Some of this stuff is common sense. Obviously, if the agent collected the address, a conversion probably happened on the call. Duh. But, look deeper, these metrics actually tell a very interesting story.
– Formula: This provides a formula to convert more callers. Simple. Do 8 of these things. Any 8. And you’ll close 80%+ of your calls.
– Sales Skills: This data is the first concrete data anyone has ever been able to extract, that shows clearly what elements of a phone call produce a conversion. This is the closest thing to a ‘formula’ that sales training companies and sales executives have ever had.
Why Should Agencies Care?
Marketers–specifically agencies–should care for several reasons. First, not all of the metrics above are sales skills metrics. There are call length metrics and lead quality metrics that are critically important to caller conversion. Second, the focus of agencies should be client revenue, NOT client leads or traffic. In other words, agencies should focus on getting clients for their clients, and not simply driving leads.