Is a Call Analytics Platform Right for Your Business?

Businesses today rely heavily on inbound phone calls to generate leads and revenue. Call analytics platforms provide the ability to track, record, analyze, score, route and prevent fraud with these calls. But deciding whether or not your company needs a call analytics platform is no simple task. It requires the same evaluative steps involved in any software adoption - including a comprehensive self-assessment of your organization’s business needs, staff capabilities, management support and financial resources.

Before investing in a call analytics platform, it's important to answer some key questions. First, is your organization optimizing inbound phone calls as a sales or lead-generating channel? 70% of mobile searchers have used click-to-call capabilities to connect with a business, so this is an important consideration. It's also useful to assess the revenue you are already attributing to inbound calls. If the revenue is greater than the cost of the platform, then it's worth investing.

When choosing a call analytics platform, consider the capabilities it offers. Platforms use AI- and machine learning-based speech analytics and natural language processing to provide insights into call quality, sentiment, tone and intent. It's important to prioritize the available features based on your most pressing business needs.

The platform should also be suitable for your team. Who will be using it and at what level in the organization will it be managed? Appropriate staffing and C-suite buy-in are essential for the platform's effectiveness. Training is also important - either hire internal staff or use a certified platform partner.

Integrating the call analytics system with existing martech or ad tech systems is also essential. Check which systems the call analytics vendor integrates with and whether it offers seamless reporting and/or execution capabilities. Lastly, consider the total cost of ownership. Most platforms use on-demand pricing, so customers pay a monthly subscription that varies by usage.

Defining success is also critical. Set your business goals for the call analytics platform in advance and measure KPIs to be able to benchmark success. Without this, it may be difficult to justify the expense of the platform or subsequent marketing campaigns.

By answering these 10 questions, you can gain valuable insights into whether or not a call analytics platform is right for your organization. Explore platform capabilities from different vendors in the full MarTech Intelligence Report on enterprise call analytics platforms and make an informed decision.

Originally reported by Martech: https://martech.org/does-your-organization-need-a-call-analytics-platform/
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