Key Performance Indicators

In the past, when most customer interactions were telephone based, cost per call was a great KPI to use. However, now that more customers are using other digital channels to interact with your company, its important to break out your cost-per-interaction as well.

This will help you understand the full picture of your PAY PER CALL costs.

Cost-per-call

Cost-per-call is the measure of how much it costs to have a customer call in to your business. It can be a useful metric for analyzing your business model, and it can help you determine how to increase sales or improve your overall customer experience.

This metric is typically calculated by taking all operational costs and dividing them by the number of calls in a given period. However, it’s important to note that calculating cost-per-call without considering your total business costs can be misleading. This is because a high level of cost-cutting can lead to low employee satisfaction and poor customer experience.

Getting more granular with your cost-per-call analysis is also important, as it will enable you to see which call types are the most expensive. This can help you identify opportunities to reduce call costs by moving customers to other channels, such as a natural language IVR, email, SMS, or chat on your website.

Cost-per-lead

Cost-per-lead is a key marketing metric that allows businesses to track the effectiveness of their advertising campaigns. It measures how much money a business spends on its ad campaign to generate one new prospective customer for the company’s sales team. This is a useful measurement because it helps marketers identify ineffective channels and allocate resources accordingly.

A lead is a potential customer that has expressed interest in your products or services through an action such as downloading gated content, booking a demo, or another key conversion goal. You can then use this information to develop future marketing strategies that will convert leads into customers.

The average cost-per-lead varies by industry, but it is generally considered to be an important metric when evaluating the effectiveness of marketing campaigns. To determine your CPL, calculate how much it costs to obtain a single lead by working in your profit margin. Then, compare this number to your industry’s average CPL to discover whether you’re spending too much or not enough.

Cost-per-conversion

Cost-per-conversion is a key marketing metric for assessing the success of your advertising campaigns. It is calculated by dividing your total costs of a campaign by the number of achieved conversions, or new customers. Using this data can help you make smarter marketing decisions. It also allows you to compare your results with other pay-per-call services.

For instance, you may be paying a lot for clicks but not getting any conversions. In this case, you should consider changing your strategy. While it is important to measure your performance, you should also focus on optimizing for the best return on investment within a reasonable time frame. It’s important to know your cost-per-acquisition (CPA) metrics in order to understand your business’s profitability. This metric can help you determine which channels are most efficient at generating sales or leads. It can also help you decide how much to spend on a particular campaign.

Cost-per-sale

Pay-per-call is well suited for purchase industries, such as healthcare, insurance, home services, travel, financial services, and retail. It is also effective for high-consideration products and services that require a human touch during the sales process. The system connects customers directly to the advertiser using a custom phone number. It can track the source of the call, enabling publishers to monetize their marketing channels.

Managing call-centric campaigns is challenging, but Invoca’s AI-driven call tracking and analytics will provide valuable insights into the performance of your paid/organic search, display advertising, social media, email, and digital/traditional marketing campaigns. These metrics will help you identify opportunities to increase ROI and improve efficiencies.

It’s important to avoid getting too hung up on cost-per-call, as it depends on many variables and may not reflect the true costs of running your business. It’s a good idea to compare costs over time, and if this metric is on the rise it may be worthwhile to dig into why.