These days advertisers are spoiled for choice when it comes to measuring the performance of their marketing spend. Whether it’s clicks, impressions, installs, engagement, leads, or any other metric (usually with its own acronym)–there are so many to choose from that it can be overwhelming. Before the dawn of internet marketing it used to be a question of what–if anything–was measurable but now the conundrum is more about what should be measured. Focusing on the wrong things, or even too many things, can lead to inefficiencies and incorrect conclusions.
How Accurate is Your Online Traffic?
To generate any kind of response, online advertisers must display their message in front of an audience to obtain a certain number of ad impressions. However, you can generate millions of impressions without any further downstream action. Did anybody actually see those ads? Were they targeted at the right audience? Was it real traffic or bot traffic? Focusing on impressions is often a waste of time.
This shouldn’t come as a surprise to any performance marketing specialist, but the same types of issues crop up even as you move down the funnel. Take sales lead generation. How many of those sales leads are reachable? Successful advertisers can turn leads into sales and generate significant returns on their marketing spend, but it would be unwise to think this is a risk free strategy. Even if you utilize real-time data validation software and respond to new leads within minutes, it’s likely you will struggle to contact more than 80% of those sales leads let alone convert them all.
Meaningless Traffic Affects You
What motivated consumers to submit information in the first place? Was it a free quote? Perhaps they thought they were getting an online quote so when you call back they aren’t actually interested in talking?
These measures of response aren’t accurate because it’s too easy for consumers to scroll past a banner without reading it, click an ad without meaning to, or even fill in a lead form when they aren’t really interested in the product. These problems are compounded on mobile where screens are small and attention is more fleeting.
Phone Calls are Highly Accurate
The good news is that the humble phone call overrides many of these issues as the commitment for a consumer to place a call is much greater than almost any other form or response mechanism. A phone call is a much more personal and immediate way for a prospective customer to respond. Once a consumer makes a call, they are not only signaling their intent about your product or service, they are also expressing they want to speak to someone right now. For an advertiser this is the holy grail as you have the undivided attention of your prospective customer when they call you. The good news is that these offline interactions can now be measured to an incredibly granular level. Any business that engages with prospects over the phone should make sure that they are capturing and measuring these conversations.