How To Lower Your Cost Per Deal with A Call Tracking System

How To Lower Your Cost Per Deal with A Call Tracking System

Introduction

As a real estate investor, you know that every lead and every deal counts. The cost of acquiring leads can quickly add up, and if you’re not tracking where those leads are coming from, you could be wasting a lot of money on ineffective marketing campaigns. A call tracking system is a valuable tool for businesses that want to track and analyze their incoming phone calls. In this article, we’ll explain what a call tracking system is, its benefits, how to choose the right one, how to set it up, and how to analyze and optimize your marketing campaigns based on the data.

What is a call tracking system? 

A call tracking system is a software tool that allows you to track phone calls to your business and attribute them to specific marketing campaigns or sources. It does this by assigning unique phone numbers to each campaign or source and tracking which calls come through each number.

How it works

When someone calls one of your tracking numbers, the call is routed to your business phone number. The call tracking system records the call and logs it in the software, along with information about the call, such as the caller’s phone number, the date and time of the call, and the call duration.

Benefits of using a call tracking system

a. Improved ROI: By monitoring which marketing initiatives or origins are producing the greatest number of potential customers and transactions, you can adapt your marketing expenditure appropriately and concentrate your endeavors on the avenues that are generating the greatest return on investment.

b. Better lead tracking and analysis: By employing a call tracking system, you can discern which marketing initiatives or origins generate the most leads and which are underperforming. This data can guide you in making informed decisions about how to distribute your marketing resources.

c. Improved customer service: With call tracking systems, you can also record and analyze phone conversations, enabling you to pinpoint areas where your customer service team could enhance their performance. By listening to call recordings and analyzing call data, you can identify common customer concerns and adjust your call-handling procedures accordingly.

How to choose the right call tracking system

a. Features to consider: When choosing a call tracking system, consider the features that are most important to your business. For example, do you need real-time call tracking data? Do you want to be able to record calls? Do you need the ability to track calls from multiple marketing channels?

b. Pricing: Call tracking systems can vary in price, so it’s important to consider your budget when choosing a provider. There are providers who offer a fixed fee, whereas others bill based on either the duration of the call or the total number of calls made.

c. Integration with other tools: Consider whether the call tracking system integrates with your existing CRM, marketing automation, or other software tools. Integration can make it easier to manage your marketing campaigns and track leads.

Setting up a call tracking system

a. Choosing a provider: Once you’ve identified your needs and budget, it’s time to choose a call-tracking provider. Some popular options include CallRail, DialogTech, and CallTrackingMetrics.

b. Setting up call tracking numbers: Your call tracking provider will assign unique phone numbers to each of your marketing campaigns or sources. You’ll need to set up these numbers in your business phone system and update your marketing materials to include the new numbers.

c. Integrating with your marketing campaigns: Integrating your call tracking system with your marketing campaigns is crucial to maximizing the benefits of call tracking. This might involve adding tracking codes to your website, updating your Google My Business profile, or creating unique landing pages for each campaign.

Analyzing call tracking data

a. Call volume and duration: One of the most fundamental metrics you’ll want to track is call volume and time. This will give you a sense of how many calls you’re receiving and how long they last.

b. Optimizing Your Marketing Campaigns

By scrutinizing call tracking data, you can discern the effectiveness of your marketing campaigns. By tracking the quantity and length of calls generated by each campaign, you can deduce which ones generate the most leads and conversions. This data can guide you in making well-informed decisions about the optimal allocation of your marketing budget to achieve maximum ROI.

For example, if you find that a particular advertising channel is generating a high volume of calls with a low conversion rate, consider reallocating those funds to a different channel that is generating higher-quality leads. On the other hand, if you find that a specific campaign is driving a significant amount of high-quality leads, you may want to invest more resources into that campaign to further optimize its performance.

Improving Customer Service

Call tracking data can also provide valuable insights into your customer service performance. You can identify areas where your team may need additional training or support by analyzing call recordings and tracking customer interactions. For example, if you notice that customers frequently complain about long wait times or unanswered calls, you may need to adjust your call-handling procedures to improve response times.

Additionally, analyzing call recordings can help you identify common concerns or issues that customers have with your products or services. By addressing these concerns and enhancing your offerings, you can boost customer satisfaction and foster greater loyalty.

Best Practices for Using a Call Tracking System

To get the most out of your call tracking system, following a few best practices are essential. First, make sure to properly train your staff on how to use the system and analyze call tracking data. Second, keep track of your numbers and regularly monitor and analyze the data to identify trends and opportunities for improvement. Finally, continuously adjust your marketing campaigns and customer service procedures based on the insights you gain from call tracking data.

Conclusion

A call tracking system is a powerful tool for businesses to optimize their marketing campaigns and improve customer service. By analyzing call tracking data, you can identify areas where you can reduce costs and increase ROI while also enhancing the customer experience. When choosing a call tracking system, make sure to consider the features, pricing, and integration options to ensure that you select the right system for your business needs. With the right call tracking system and best practices in place, you can take your business to the next level.

StreamlineREI: The Comprehensive Call Tracking Solution for Real Estate Investors

StreamlineREI is a call tracking system that can help you optimize your real estate marketing campaigns and lower your cost per deal. The platform provides a comprehensive call-tracking solution that enables you to track your calls, analyze your data, and optimize your campaigns based on call-tracking insights. StreamlineREI’s call tracking system allows you to assign unique phone numbers to each of your marketing campaigns, enabling you to track the effectiveness of each campaign and adjust your strategy accordingly. Additionally, StreamlineREI’s call tracking system provides a wealth of data that can help you improve your customer service and streamline your real estate investing business. With StreamlineREI’s call tracking system, you can gain valuable insights into your marketing campaigns and optimize your business for success.