Call Analytics Platforms: Explore Its Top Benefits

Staff WritersArtificial Intelligence (AI)Lead Distribution & Call ManagementNative & Programmatic Advertising

By STS Staff Writer On Feb 13, 2023

Cold Calls are not just about building a relationship with customers, but it is about offering valuable insights to the customers, boosting agent productivity and discovering more growth opportunities.

Call analytics platforms are tools that help businesses track and analyze their incoming and outgoing calls. These platforms collect data on call volume, call length, call routing, wait times, and other metrics, and present the data in an easy-to-understand format. Some call analytics platforms also offer real-time monitoring and reporting, allowing businesses to quickly identify trends and make data-driven decisions about their call centers and customer service operations.

What is Call analytics?

Call analytics involves the collection and analysis of call tracking and recording data in sales and marketing. By utilizing call analytics, sales and marketing teams can use insights gained to improve their initiatives and utilize calls as a primary source of valuable leads.

The technology aspect of call analytics automates the tracking and reporting process, making it easier for teams to evaluate their performance against industry standards, identify areas for improvement, and adjust their strategies accordingly.

The visual representation of data, usually presented through customizable dashboards and charts, is a crucial aspect of call analytics technology, ensuring that the insights gathered are comprehensive and easily digestible.

The goal of Call Analytics:

The goal of call analytics is to improve the customer experience, optimize call center operations, and drive business performance. With call analytics, businesses can identify bottlenecks in their call routing processes, resolve call quality issues, and measure the effectiveness of their marketing campaigns.

Overall, call analytics platforms are an essential tool for businesses looking to improve their telecommunication operations and enhance their customer experience. The ability to track the calls is a core use of analytics technology.

Why Call Analytics Technology or software is essential?

Call analytics technology is essential for tracking phone calls and has become increasingly sophisticated due to advancements in machine learning and artificial intelligence (AI). Call analytics software manages inbound phone calls from both landlines and mobile phones, handling tasks such as assigning call tracking numbers, measuring, monitoring, analyzing and reporting caller data and campaign results.

With the help of call tracking, recording, routing, and attribution tools, businesses can make the most out of phone calls and provide fast answers to prospects seeking information. The primary reason for phones is still for one person to talk to another, and that remains true when someone wants information from a business. Phone calls provide businesses with an opportunity to offer prospects fast answers and connections to real people.

AI-driven technologies, including smart speakers, virtual assistants, chatbots and messaging apps, are driving more calls to businesses. The latest Smart Audio Report by NPR and Edison Research found that 77% of U.S. adults have experienced changes in their daily routines due to the pandemic, and voice assistant usage has increased during this time.

The study also found that 35% of American adults, or approximately 100 million people, owned a smart speaker in 2022, up from 21% in 2019. The usage of smart speakers seems to drive additional use of smart assistants on mobile phones, with 46% of smart speaker owners with smartphones saying they use their phone assistant more often since getting the speakers.

Smart speakers and virtual assistants are primarily used for playing music, checking the weather, getting directions, playing games, and setting alarms. However, about one-third of users are finding local businesses, and around a quarter of users use them to order food.

Call analytics platforms help marketers and sales people extract valuable data from the growing volume of inbound calls. They track both online and offline leads, following a call from its source (such as a website, social media, click-to-call search, or display ads) to a sales representative based on geographic location or product line, and then on to a conversion or lack thereof. With the help of call analytics, businesses can make data-driven decisions and improve their call-to-conversion ratio.

Type of data that call Analytics Software Collect

Call Analytics data helps to get valuable insights for the marketing and sales teams and following KPIs helps to do that:

Lead score
Duration of calls and holds
information on caller ID in general
comprehensive transcriptions
Relevant search keywords
metrics for marketing channels
Customer feedback analysis

The next generation of call analytics tools offers interactive layer which empowers sales representative to leverage call analytics in real time instead of just retroactively. The new features are given below:

Transcription of live calls
Artificial intelligence that monitors the call for keywords and gives salespeople on-the-spot data
Automatic entry of tasks and action items into your SEP
The capability of highlighting significant events throughout the call for later review

How may call tracking analytics be used and how is this data gathered?

Data collection for traditional call analytics is originally fueled by call monitoring. Calls with assigned tracking numbers are forwarded and assist in gathering vital caller information. The call tracking technology aids in gathering attribution data, that can be as general as attributing a call’s source to a particular marketing campaign or as specific as identifying whether the call came from sponsored or organic web traffic from a specific landing page within that campaign’s website content.

Then automated transcription services are useful for recording the calls so the calls can be analyzed and artificial intelligence plays an important role in keeping the process smooth, scanning the transcript for relevant cues and keywords helps to score the lead accurately.

Call analytics plays a crucial role in promoting your new product. It provides valuable insights into how your target audience discovers and expresses interest in the offering. With this information, your sales team can strategize the most effective follow-up with potential customers, making phone calls a powerful driver in closing sales deals.

For instance, if your marketing or sales team creates a microsite with a series of landing pages and free downloads, call analytics will help track and measure which page or download generated the lead, and how the lead was acquired in the first place. This can be through paid or organic search, social media, or other channels.

One study found that call analytics helps top performers increase their call volume by 82% while reducing the number of emails sent by 26%. This information is essential for stakeholders in sales and marketing as they use call analytics to understand customer demographics, determine product interests, and prioritize leads.

Benefits of Sales Call Analytics:

There are measurable sales and marketing advantages for revenue leaders who effectively implement the call analytics across the organizations. So keeping this in mind, call analytics offer sophisticated attribution and robust data gathering capabilities. There are many abundant opportunities to leverage the next generation call analytics to achieve a high ROI. So, the benefits of sales call analytics are discussed below:

Increase the marketing budget: Maximize your marketing budget by using call analytics to identify what is genuinely effective so you can keep investing in the most effective marketing initiatives and removing those that increase cost per lead. You may discover and learn in-depth information about the customers’ or prospects’ greatest pain problems by carefully listening to what they say during the call.
Lead generation using keywords: Marketers are able to generate content around the most important and sought-after themes, which improves the ranking ad visibility. Modern call analytics is granular enough to track the lead back to keyword level data within the marketing campaigns. The campaigns assist in identifying the particular pain issues of the clients, which aids in optimising the digital assets for the appropriate keywords and attempting to effectively reach niche audiences.
Create a sales strategy that is supported by data: Successful inbound sales representatives make use call analytics to comprehend the problems of their customers and to offer suggestions for solutions in real time. Analysis produced to efficiently coach sales representatives during live sales calls keeps conversations on track to move buyers down the funnel and produces insights into buyer sentiment for subsequent calls.

The new generation of call analytics offers a deeper level of understanding about specific consumers, enabling sales representatives to customize one-of-a-kind experiences with elegant product solution recommendations.

To produce keyword lists that are meaningful, call transcription keyword extraction must be precise. Important terms that have a direct impact on lead quality and customer satisfaction may be missed in inaccurate transcriptions or reports of phone interactions. A seamless customer journey is created for all parties by using ideal call analytics software in conjunction with other lead capture solutions like Salesforce, Google Analytics, and social media analytics services.

Therefore, it is vital to rely on next-generation call analytics to go beyond the basic data. Call analytics systems provide live call transcription and AI that aids in listening for keywords and gleaning the appropriate information from conversations. The call analytics are empowered to log action items instantly through many software; as a result, it also permits bookmarking the crucial occasions in conversations that may be utilised as a reference at a later time.

Choosing a call analytics software:

When selecting call analytics software, find the right fit for your business. When choosing call analytics software, it’s important to consider the specific needs of your team and company. Do your reps struggle with preparation time and research, or do they have trouble producing follow-up emails or answering unexpected questions during calls? Consider the size of your team and the nature of their workflows.

For instance, Kaia, a call assistant driven by real-time AI, is used by Outreach. Kaia streamlines every step of their procedure, from planning to follow-up. Thanks to Kaia’s sophisticated call analytics tools, the sales representatives have witnessed a reduction in follow-up time of up to 67%.

During live meetings, Kaia serves as a virtual assistant, recording the conversation in real time and giving rapid access to product and competitor information. Reps can concentrate on the customer by taking notes and adding bookmarks, and Kaia will track action items and deliver meeting summaries after the call. Talk analytics gives sales representatives immediate information about how attendees are engaging in the meeting, including when to speak and when to listen.

After the meeting, Kaia allows you to search and identify key signals from video and voice calls to help advance deals. Customers who use Kaia have reported an increase in productivity of up to 30%. So, the use of call analytics software is a must for businesses.

Let’s have a look at the best SaaS based call analytics platforms and tools:

Best Global SaaS based and Cloud Based Call Analytics platforms and tools:

The Global Software as a Service (SaaS) call analytics market has been witnessing a steady growth over the years, and is expected to continue growing in the future. SaaS call analytics tools are cloud-based platforms that allow organizations to track and analyze phone calls made by sales and marketing teams. These tools are designed to provide insights into call data, helping organizations to make informed decisions, improve customer experience, and drive sales and marketing initiatives.

There are several key players in the SaaS call analytics market, each offering a unique set of features and capabilities. Some of the major players include CallRail, DialogTech, Invoca, and Callbox. CallRail, for instance, provides call tracking and reporting for inbound calls, helping businesses to understand the source of the calls, and how they lead to conversions. DialogTech, on the other hand, is a platform that provides real-time call analytics and insights, including speech recognition and transcription. Invoca, a cloud-based platform, uses AI-powered call tracking to deliver actionable insights and enhance customer experiences.

1. CallRail (SaaS based):

CallRail is an innovative call tracking solution designed for data-driven marketers. It offers powerful features to measure the effectiveness of digital and offline marketing campaigns, including search call conversions. The platform also has a user-friendly interface, making it easy to use.

With call recording functionality, CallRail helps businesses improve customer service and streamline the coaching process for staff. Additionally, it offers an effortless way to review and annotate phone calls, providing valuable insights into customer interactions.

One of CallRail’s unique benefits is the ability to track a visitor’s journey, both before and after making a call. This helps businesses gain a deeper understanding of their customers and how they interact with their brand.

CallRail also offers advanced call tracking capabilities, allowing users to manage multiple clients, locations, and even businesses from a single account. The platform also has a convenient call flow builder and allows for easy setup of new call tracking numbers. CallRail boasts several key features that set it apart from other call tracking solutions.

Email notification functionality that keeps users informed of incoming leads in real-time.
The visitor timeline feature is also noteworthy, as it displays a site visitor’s activities and browsing behaviors, helping users to identify which pages are driving the most phone calls.
The capabilities of CallRail are not limited to its built-in features. The platform also offers seamless integration with various marketing, analytics, and sales software, including Salesforce, Google Adwords, and Analytics. This integration allows users to centralize their data and streamline their workflows.
Other notable features of CallRail include voicemail transcription, SMS capabilities, lead capture, and the ability to conduct follow-ups.

With these tools at their disposal, users can manage all aspects of their call tracking efforts with ease and efficiency.

2. Hubspot (Cloud Based):

Streamline your sales efforts with HubSpot’s call tracking software. This software makes it easy to prioritize your daily sales calls, make and record calls directly from your browser, and log calls automatically to your CRM. By using contact and engagement data from HubSpot CRM, you can identify the best calls to make and set up your calling queue for the day.

With HubSpot, you can make calls right from your browser, eliminating the need to pick up your phone. Calls can be connected to prospects via a desk phone or Voice Over IP, and you have the option to record the call. No need to log calls manually – the call tracker can automatically log calls to Salesforce or HubSpot CRM.

In the Enterprise packages, managers can take advantage of Conversation Intelligence to coach sales reps effectively. The software provides call transcription for analysis, call commenting, and keyword searching, making it easy to improve sales performance. With email sequences, you can close deals faster and avoid losing opportunities.

HubSpot also allows you to turn your most effective sales emails into conversion-driven templates and share them with your team. You can track when a lead opens your email, downloads attachments, or clicks a link using notifications that stay on top of your feed. This makes it easy to send timely follow-ups.

HubSpot integrates with CRM, Office 365, and Google Calendar, allowing you to schedule emails, optimize your documents, personalize your pitch, and schedule meetings. Additionally, you can engage more with visitors using a live chat on your site, automate workflows, predict lead scoring, and integrate with Salesforce to quickly record calls, emails, and meetings.

3. Dialog Tech (Now known as Invoca) (SaaS-based):

DialogTech offers call attribution, call monitoring, and insights to marketers to enhance customer journey optimization. Machine learning algorithms from DialogTech quickly assess the entire context and result of each call in order to uncover hidden patterns, forecast outcomes, identify opportunities and issues, and automate the optimal course of action.

On May 24, 2021, DialogTech became a part of Invoca. Invoca is a leading provider of AI-powered conversation intelligence for revenue teams. This solution empowers marketing, sales, customer experience, and eCommerce teams to quickly analyze and act on information gathered from customer conversations. With its deep integrations with top technology platforms, revenue teams can turn conversation data into automated actions that improve digital touchpoints and human interactions, resulting in better customer experiences, increased conversions, and higher revenue.

DialogTech offers call tracking, call attribution, and insights to marketers to help them optimise the customer journey. In order to uncover hidden insights, create predictions, identify opportunities and issues, and automate the optimal course of action, DialogTech machine-learning algorithms quickly assess the entire context and result of every call.

4. Call Box (Saas-based):

Callbox is a multi-channel marketing platform that provides advanced call tracking and lead management capabilities, including call recording, transcription, and lead scoring.

With Call Box’s team management solutions, you can easily track individual performance through voice recognition technology. This technology identifies each staff member’s distinct speech patterns and can recognize their voice on future calls, ensuring that calls are accurately attributed to the correct person.

These tools provide businesses with the ability to manage the performance of multiple staff members over the phone and gain actionable insights to improve accountability and productivity.

5. WhatConverts (Cloud-Based):

Effortlessly track your calls and determine the success of your marketing campaigns with WhatConverts. This innovative software captures leads generated from phone calls and easily traces their marketing source. Customize your call tracking with your company’s branding and receive proper credit for all leads received. Use a custom IVR menu to direct calls to the appropriate connection.

Empower your team to qualify incoming calls as leads once the call is finished. Utilize the geographic call routing feature to direct calls to the nearest business location to the caller. Re-route calls that come in outside of business hours to multiple numbers with the multi-ring function. Take advantage of call transcription to easily read call details without listening to the entire recording.

Acquire phone numbers and use them with the call tracking software to track calls. Create an automated call greeting to play when someone calls your tracking number. The “Call Whisper” feature provides sales reps with lead tracking information before they speak to the prospect.

One of the key benefits of SaaS call analytics tools is their ability to provide real-time insights into call data. This can be particularly beneficial for sales and marketing teams, who can use the information to make informed decisions, and improve their strategies. For example, they can use the insights to identify areas of improvement in customer interactions, such as call handling, call volume, and conversion rates.

Another benefit of SaaS call analytics tools is their ability to integrate with other systems, such as customer relationship management (CRM) software, marketing automation platforms, and Google Analytics. This allows organizations to centralize all of their data, creating a single source of truth, and making it easier for teams to access and analyze call data.

One of the biggest challenges facing the SaaS call analytics market is the need for data privacy and security. As organizations are becoming more aware of the importance of data privacy, they are looking for solutions that can help them protect their customers’ information. This means that SaaS call analytics providers must adhere to strict data privacy regulations, such as the General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA).

Adoption Trends for Call Analytics Tools

Call analytics tools have become increasingly popular in recent years as businesses strive to improve their customer service and optimize their call centres. These tools provide businesses with valuable insights into customer interactions, enabling them to measure and improve key metrics such as call handling times, call volume, and customer satisfaction. As a result, adoption trends for call analytics tools have been on the rise.

What are the factors contributing to Call Analytics?

One major factor contributing to the growth of call analytics tools is the increasing importance of customer service in the business world. Customers today expect quick and effective resolution of their issues, and businesses are turning to call analytics tools to help them meet these expectations. By leveraging these tools, businesses can analyse their call centre performance and identify areas for improvement, such as reducing wait times or improving call handling processes.
Another key driver of adoption trends for call analytics tools is the rise of cloud-based technology. Cloud-based call analytics tools are easy to implement, cost-effective, and provide businesses with real-time insights into their call centre performance. They can be accessed from anywhere, at any time, and offer businesses the flexibility to scale their call centres as their business grows.
The increasing demand for multichannel support is also driving adoption trends for call analytics tools. As customers use a growing number of communication channels, such as social media, chat, and email, businesses need to ensure that their call centres are equipped to handle these interactions. Call analytics tools provide businesses with a unified view of their customer interactions across all channels, enabling them to measure and improve their performance across all touchpoints.
In addition, the growing trend towards artificial intelligence (AI) and machine learning is also driving adoption of call analytics tools. AI-powered call analytics tools can help businesses automate routine tasks and improve call centre efficiency. They can analyse call data in real-time, identifying patterns and providing insights that can be used to make data-driven decisions.
Finally, increasing regulations and data privacy concerns are also playing a role in the adoption of call analytics tools. These tools can help businesses comply with regulations such as GDPR, HIPAA, and PCI DSS by providing secure and compliant storage of customer data. They can also help businesses ensure that their customer interactions are compliant with privacy regulations, such as those around call recording and data retention.

6 Ways Call Tracking & Analytics Helps You Generate More Customers from Paid Advertising:

Identify Effective Ad Campaigns: Call tracking allows you to see which ad campaigns are driving the most phone calls and leads. You can then allocate more budget to the campaigns that are performing the best and adjust or discontinue campaigns that are not generating results.
Track Return on Investment (ROI): With call tracking, you can track the ROI of your paid advertising campaigns. You can see how many calls and conversions each campaign is generating, and calculate the cost per lead or cost per acquisition.
Measure Call Quality: Call tracking analytics can provide insights into the quality of the calls you are receiving from your paid advertising campaigns. You can track the length of calls, the location of the caller, and the specific keywords they used to find your business.
Improve Ad Copy & Landing Pages: By analysing the data generated by call tracking, you can improve your ad copy and landing pages to better convert potential customers into leads. You can test different variations of your ads and landing pages to see which ones generate the most calls and conversions.
Optimize Targeting: With call tracking, you can see which geographic locations, age groups, and interests are generating the most calls. You can then use this information to optimize your targeting and reach more of the right people with your paid advertising campaigns.
Enhance Customer Experience: Call tracking analytics can also provide valuable insights into the customer experience. You can track how quickly calls are answered, how long customers are waiting on hold, and the satisfaction of customers who have called your business. This information can be used to improve the customer experience and increase customer loyalty.

What Does call analytics Include?

Call analytics typically includes a variety of metrics and data related to phone calls made to and from a business. The specific metrics included in call analytics can vary depending on the software being used, but some common metrics include:

Call volume: the total number of incoming and outgoing calls received by a business.
Average call duration: the average length of time a call lasts.
Abandoned call rate: the percentage of calls that are terminated before they are answered.
Call response time: the amount of time it takes for a call to be answered after it is placed.
Call routing efficiency: the effectiveness of call routing systems in directing calls to the right department or individual.
Call source: information on where the call originated, such as a phone number, website, or advertising campaign.
Call outcome: the outcome of each call, such as whether it was answered, transferred, or ended in voicemail.
Agent performance: information on individual agent performance, such as average call duration, talk time, and call conversion rate.

Call analytics can provide valuable insights into a business’s phone operations and help identify areas for improvement. By tracking these metrics, businesses can make informed decisions about staffing levels, call routing strategies, and overall call centre performance.

Call Analytic Knowledge Unlocking

A company’s ability to map the customer journey, improve service, and raise productivity can all be improved with the help of call analytics. Call analytics have a wide variety of applications, including call recording and playback for staff development purposes and usage of speech technology such as natural language understanding.

The need for call analytics is only expected to increase moving forward. Improved security, compliance, and customer service are just some of the ways in which businesses can benefit from adopting these technologies. Those analytics may even let you boost morale with interactive wall displays that show team progress. Or you might use trends to anticipate consumers’ future needs, which would be a step above and above in terms of service.

Conclusion:

In conclusion, SaaS call analytics tools are playing an increasingly important role in the sales and marketing landscape. With the ability to provide real-time insights, and integrate with other systems, these tools are helping organizations to make informed decisions, improve customer experience, and drive sales and marketing initiatives. As the market continues to grow, it will be important for SaaS call analytics providers to adhere to strict data privacy regulations, and continue to offer innovative solutions that meet the needs of businesses and their customers.