How to Optimize Your ROI with Call Tracking
With any marketing campaign, there is one thing all business are interested to know: what’s my return on investment (ROI)? In other words, ROI determines how much profit is made from a business’ marketing efforts after its costs are factored out.
The business that your digital and traditional advertising methods drum up depends on the impact of each facet of your marketing strategy; monitoring each aspect closely can tell you what’s working and what isn’t. Call-tracking is one way to measure marketing and advertising’s direct impact on lead generation and sales. Using call tracking software generated from an API (application programming interface), a business can record data about incoming phone calls, including the geographic area of the caller, whether the caller is a strong lead, which products he or she is interested in, and many other points of information.
For both digital and traditional advertising, inbound calls are key. A strong call-to-action invites customers to respond to your advertisement. Whether through a digital promotion such as an e-blast, or direct mail such as a coupon or sales flier, a call-to-action can be to contact the business via its website or by phone. Replacing your business’ phone number with a trackable number in the campaign allows a business to track and analyze the number of callers, quality of leads, and the direct conversion rate from those advertisements. This data is the key to calculating the ROI of each campaign.
Generating strong, qualified leads is one goal to drive revenue; gathering data insight from API campaigns may help in following up with potential customers. Tracking specific campaigns lends insight on what content resonates most with the target audience, which can be used to develop a message that is well-received. Campaigns with better ROI rates can be prioritized over those that aren’t catching on; the two big factors in content are written content, or the way things are phrased, and product content, or which products are more popular. For instance, if your restaurant’s 2-for-1 drinks deal is bringing in a lot of repeat customers, that advertising campaign is worth more of your marketing budget than less popular offers.
With call tracking, it’s also possible to test market different graphic designs. The data will allow you to determine if a certain design performs better than any other.
Often, strong leads develop on the web, but are converted to an offline method of communication. A potential customer might check out your website before deciding to place a call, and with a large percentage of smart phone users browsing the web from their mobile devices, potential customers are more likely to convert by calling the business directly after a web search. Interacting with a potential customer personally is promising; generally, phone calls result in better leads and higher revenue than web inquiries.
Online forms are a great way to track when a potential customer is seeking services, such as catering or party room rental. Be careful not to scare off customers who are just looking for information — requesting their personal information via an online form may come off as an attempt at list-building and de-personalize the interaction.
Call tracking data enables businesses to produce conversion calls, drive growth, personalize customer experiences, and maximize their ROI. It also lends insight on what type of lead to pursue, which content attracts potential customers, and which advertising outlet generates the best leads. Make back the money you put in; seek the advice of the expert marketing and advertising teams at Dining Out Marketing Group. Our digital analysts and traditional marketing experts specialize in working with local restaurants and destinations. Contact us at 1-855-776-4123 or fill out our contact form.