SANTA BARBARA, Calif., Aug. 7, 2017 /PRNewswire/ -- Invoca, the call intelligence company, today unveiled Invoca Signal AI, adding the power and scale of machine learning to the Invoca Voice Marketing Cloud. With Signal AI, marketers can uncover previously inaccessible insights from billions of phone conversations with customers. Signal AI analyzes the entire context of the conversation for language patterns, in real time, and identifies customer intent and behavior, as well as the outcome of the call. This gives marketers the ability to analyze offline phone conversations and optimize digital marketing campaigns just as they've done for online conversions.
According to BIA/Kelsey, calls to businesses are expected to exceed 169 billion by 2020. For expensive or complex purchases, such as a mortgage, life insurance plan, or home renovation project, consumers often conduct initial research online, then call for advice before buying. Marketers have lacked insight into these revenue-driving phone conversations by narrowly focusing their efforts on optimizing for digital engagements. However, innovative marketers are now recognizing the need to use artificial intelligence to gain insights from large volumes of data, such as unstructured voice conversations, to better serve their customers.
The Invoca Voice Marketing Cloud with Signal AI uses machine learning to give brands access to actionable data from the billions of phone conversations that happen with customers each year. Before Signal AI, marketers seeking these insights had to listen to individual calls or use basic keyword-spotting products that identify only pre-determined words or phrases. Invoca's new offering analyzes conversations in real time and identifies language patterns associated with specific intents and outcomes, such as "requesting a quote" in insurance, "booking an appointment" in home services or "placing an order" in telecommunications. Marketers can use these insights to optimize their digital marketing investments, improve offline conversions, increase ad spend efficiency and drive revenue. Enterprise customers including Allstate, Frontier Communications and 3 Day Blinds are already using Invoca Signal AI in private beta.
"We rely on digital marketing to find and build relationships with our customers, who then book appointments with us over the phone. A majority of our customers come through phone calls, so the importance of call intelligence cannot be overstated," said Dan Williams, chief revenue officer at 3 Day Blinds. "With the new Invoca Signal AI we can more quickly identify the outcome of the call — whether a customer booked an in-home visit or inquired about pricing. We can use this information to measure our marketing effectiveness while also building a stronger relationship with each customer with personalized interactions."
Signal AI offers pre-trained, out-of-the-box predictive models for marketers who are getting started with machine learning. These models are based on millions of calls from industries including insurance, automotive, lending, telecommunications, home services and healthcare. More sophisticated marketers can customize Signal AI to understand a wider variety of customer behaviors and outcomes. These marketers, with access to internal data science teams, can use their company's data sets to build and continuously tune custom Signal AI classifiers.
Signal AI delivers insights from calls that are analyzed as they happen and automatically triggers the next action in a marketer's technology stack. The Invoca Voice Marketing Cloud has over 30 integrations, including bid management solutions and CRM software, so marketers can use actionable data from live conversations to improve marketing spend and the customer experience. Invoca Signal AI is powered by an enterprise cloud architecture and is PCI certified to ensure the security of sensitive customer information exchanged in conversations.
"People are using voice to interact with the world around them more than ever, and they're using mobile phones, home devices and even landlines to call businesses at staggering rates," said Gregg Johnson, CEO of Invoca. "Customer conversations have been an underutilized yet valuable data source for marketers as they seek to understand, meet and even predict the subtlest of consumer needs and intents. Brands will differentiate themselves from the competition by leveraging rich insights from conversations to optimize digital marketing investments and improve the customer experience."
Invoca helps the modern marketer optimize for the most important step in the customer journey: the phone call. With Invoca's Voice Marketing Cloud, marketers can get granular campaign attribution to understand why customers are calling, gain real-time intelligence about who's calling and analyze what's being said in conversations. Marketers can put this data to work directly in the Voice Marketing Cloud by automating the ideal customer experience before, during and after each call. With an ecosystem of over 30 technology partners, marketers can inject call intelligence into their existing technology stack, giving them the ability to orchestrate a true omnichannel customer journey. Invoca is backed by Morgan Stanley Alternative Investment Partners, Accel Partners, Upfront Ventures, Rincon Venture Partners, Salesforce Ventures, and Stepstone.