Why Phone Data Matters More Than Ever
Here’s a secret: Every phone conversation holds the information you need to maximize sales and drive success. Every single phone call. And don’t worry: Harnessing the information you need won’t come at the expense of man hours or overworked staff. It’s based on technology-powered call analytics for dealerships specifically, which condense lots of phone data insights into powerful learnings to increase dealership marketing ROI and overall profit. In fact, the proper use of AI-powered call data analytics can be applied to fine-tune marketing, staffing, and even inventory management.
The root of this concept is nothing new—in fact, as a Boston Consulting Group article explains, understanding measurements is the key to modern marketing entirely. “The foundation of modern marketing is reliable and comprehensive measurement. It enables marketers to make sense of real-time signals and to make tradeoffs across a seemingly infinite set of budget allocation and execution scenarios.”
In other words, it’s imperative to understand what metrics matter and then glean all you can from them, applying the resulting analysis to better specific parts of your dealerships’ business, improving on strengths and rectifying weaknesses. As DealerFunnel elaborates, “For dealerships, ROI is more than just the financial return on their marketing investment. It also encompasses factors such as customer satisfaction, brand reputation, and long-term business growth. Dealerships can consider metrics such as lead generation, customer conversion rates, and customer lifetime value to assess the overall impact of their marketing campaigns on their business.”
The Power of Data-Driven Marketing
For example, when it comes to marketing efforts, data-driven campaigns inherently are more productive and effective than others. According to CBTNews, “Durran Cage, founder of Cage Automotive, shares essential insights on maximizing marketing ROI, the importance of data-driven decision-making, and the role of customer engagement in shaping future marketing efforts….He advises dealers to target specific customers using data-driven marketing campaigns, which tend to yield a high return at a minimal cost.”
DealerFunnel supports this idea, saying, “For example, they can leverage data analytics to gain valuable insights into customer behavior and preferences, enabling them to create targeted and personalized marketing campaigns. This not only increases the effectiveness of their marketing efforts but also enhances the overall customer experience, leading to higher customer satisfaction and ultimately, a greater ROI.” And indeed, it is the AI-powered modern technology that allows for this to be done most powerfully. “Artificial Intelligence (AI) and Machine Learning (ML) technologies are revolutionizing the digital marketing landscape. These technologies enable dealerships to personalize customer experiences, automate marketing tasks, and deliver targeted messaging at scale. By leveraging AI and ML, dealerships can optimize their marketing efforts, improve customer engagement, and achieve higher ROI.”
Why Inbound Calls Are Still a Dealership’s Most Valuable Channel
But even further, consider, as an article on DealerMarketing.com lays out, inbound call rates and success (which are, according to IZMO Cars, still alive and well, even in the age of digital scrolling and research). By all accounts, they should be the most profitable. “A recent Forrester study shows customers who call a business convert 30% faster, spend 28% more, and have a 28% higher retention rate.” That means sales calls have the ability to be more powerful than digital marketing overall.
However, with outdated technologies, that’s not always the case. “More than 19% of calls to dealerships go unanswered or are abandoned by the caller due to being placed on hold or because of confusing interactive voice response (IVR) systems. In addition, nearly 70% of all inbound calls to dealerships are inquiries for parts and service — a key revenue driver for car brands — and 10% of calls are for new sales opportunities, including new or used vehicles.”
How AI Technology Fixes the Problem
First fix: A smart phone system that uses AI to direct sales and manage inbound calls. But that’s not where the tech should end, the post continues. “Call analytics will help transform the customer experience at dealerships, enabling them to win new customers, retain existing buyers, and, ultimately, increase revenue.” IZMO agrees: “By knowing what happens on every call, dealerships can quickly optimize their marketing and media budget to drive more of those phone calls that convert to paying customers.”
CallRevu handles these tasks seamlessly, meaning dealerships can maximize revenue during these inbound sales calls in the easiest—and most effective!—way possible. As Microsoft puts it, “More than 60% of buyers call after doing their homework online, and what happens next can make or break the sale. CallRevu helps dealerships turn calls into conversions with its AI-powered software platform. It analyzes conversations, tracks performance, and delivers real-time coaching to improve call handling, follow-up, and customer experience.”
Meeting Modern Customer Expectations
Indeed, customers don’t just expect regular ol’ phone calls anymore. They want to be safe, they want to be understood, and they want it to be easy. According to Deloitte, “They want innovation, but they also want transparency, control, and data security. Tech providers who prioritize responsible practices, such as empowering users with greater control and ensuring robust protections, will likely be better positioned to earn trust and drive deeper engagement.” And that’s just what the right call data analysis platform can provide.
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