SANTA BARBARA, Calif., April 22, 2020 /PRNewswire/ -- Invoca, the leader in AI-powered call tracking and conversational analytics, today announced the results of a commissioned Total Economic Impact™ (TEI) study conducted by Forrester Consulting on behalf of Invoca. The study examines the millions in additional revenue that marketers can drive by using Invoca to connect their online marketing and offline sales. A composite organization based on interviews with Invoca customers found that the company's platform delivers a 395% return on investment over three years and a payback of less than three months.
Marketers need to collect data across the entire customer journey, including online and offline touchpoints, and tying it together for deeper, actionable insights remains a challenge for many. This is particularly top of mind for marketers in industries that rely on a consultative buying process like telecommunications, banking, and insurance. With Invoca's technology, marketers get real-time marketing attribution and analytics on customer conversations, which they can automatically connect to the digital campaigns they're running in platforms like Google, Facebook, and Adobe Experience Cloud, to maximize the performance of their advertising budgets.
"In today's unprecedented business environment, marketers must deeply understand the changing needs of their customers," said Gregg Johnson, CEO of Invoca. "The ability to extract insights from customer calls at scale helps marketers drive efficiencies with media spend, inform ad copy and agent scripts, and deliver experiences that build deeper customer connections. All of this leads to meaningful marketing optimizations that result in higher revenue."
As part of its framework, Forrester Consulting interviewed Invoca customers in telecommunications, insurance, financial services, and manufacturing. These customers use Invoca to optimize their digital marketing campaigns based on insights from phone conversations. Using the Forrester TEI financial model, the study found the following three-year, risk-adjusted benefits:
- 395% ROI within three years
- 10% increase in inbound sales calls leading to additional revenue
- 25% optimization of paid search spend
- 90% fewer calls transferred away from sales departments
According to a digital marketing strategist at an insurance company interviewed for this study, "Utilizing Invoca to push actual, tangible call conversions back to our search agencies allowed them to do a much better job optimizing our paid search campaigns. This has been a game changer for us in terms of finding efficiencies in our bidding."
The complete study, The Total Economic Impact of Invoca Call Tracking & Conversational Analytics is available for download here.
Invoca is an AI-powered call tracking and conversational analytics company that brings the depth of marketing analytics traditionally limited to digital consumer interactions to the world of human-to-human selling. With Invoca, marketers can use real-time call and conversational analytics to maximize the return of their paid media campaigns in Google and Facebook, and improve the buying experience by enriching customer profiles in Salesforce and Adobe Experience Cloud. With Fortune 500 customers and deep partnerships with the technologies marketers use every day, Invoca has raised $116M from leading venture capitalists including Accel, Upfront Ventures, H.I.G. Growth Partners, Morgan Stanley, and Salesforce Ventures. For more information, visit www.invoca.com.