This is a guest post by Chen Zhao (Director of Analytics – Marchex) of DMA’s Integrated Marketing Community.
On April 22, I had the opportunity to co-present with Mike Boland from BIA Kelsey on the exciting topic of Mobile and the Phone Channel to the Integrated Marketing Community at DMA. As a database analyst who ventured into the world of digital advertising analytics in the early years of 1999 and 2000, I felt the same level of excitement as we move from traditional digital advertising to mobile advertising. Mobile is big!
Why is the mobile phone channel particularly relevant for integrated marketing? There are really two main reasons:
- The phone call is gaining share as a key channel via which marketers reach out to customers in this smartphone-dominated world. And it is getting the attention of Facebook and Google! Facebook is testing its new app Hello, while Google announced its new wireless phone service Project Fi.
- Measuring the outcome is important, and measuring the right outcome is critical. As data-driven marketers, we all know that you cannot improve what you don’t measure and you better be measuring the right things. If marketers want high quality leads, then phone call is the right outcome to track and optimize against. We shared at the Webinar that the media conversion rate from phone calls is around 10% for Insurance and Financial Services advertisers. The chart below shows the conversion rates from other industry verticals. Phone calls clearly yield high quality leads. Armed with the ability to measure phone calls driven by marketing activities, marketers are empowered to optimize and seek better return on their ad spend.
For the full Mobile Advertising Performance Report for Financial Services & Insurance Industries that Marchex published in March 2015, follow the link here. It is the first of its kind report based on more than 1.8 million phone calls to financial services and insurance companies. If you have any questions regarding this study, please contact John Busby at firstname.lastname@example.org or Chen Zhao at email@example.com.