Are You Prepared to Thrive in a Down Market?
You don’t have to look far to see gloom and doom economic forecasting related to war, inflation, and high interest rates. But being the optimists we are at iovox, we the see the glass half full for companies that cut through the noise and focus on data to drive their decision making. That’s where we come in. In this blog we’ll provide real world examples of how smart operators are strengthening their businesses during a period of economic uncertainty.
US-based Sequoia Capital was founded in 1972. Sequoia has invested in, and helped launch, a few brands you might recognize like Cisco, Google, Instagram, Airbnb, Apple, Stripe, and many others. Over their 50-year history, they’ve seen a downturn or two and they know the wreckage that can come when companies are unprepared for uncertain times.
Sequoia just released a series of presentations for their portfolio companies to consider, one of which is titled “Forecasting and Scenario Planning”. Whether you’re a venture backed business or a billion dollar publicly traded company, the considerations mentioned within this report are worthy of your time.
What does that have to do with iovox, call tracking and analytics? Everything.
How Do You Get More from Less?
In a down market, where new buyers may take longer in decision making, it’s critical that you:
- Keep your current customers,
- Increase the amount of business you’re doing with them, and
- Become more efficient in your lead generation activities.
Now, more than ever, you need to know exactly what’s happening with every customer touchpoint at your company, particularly if your business relies on phone calls to add, keep, or collect from customers.
Let’s look at some easy examples.
- Auto Dealers – What if someone looking to lease a new car mentioned that they need their other car serviced, but you didn’t take any action on that part of the conversation because you didn’t know?
- Ad Agencies and Digital Marketers – Can you help your clients buy cheaper long-tail key words for their PPC strategy based on calls that you know with absolute certainty converted to a sale?
- Real Estate Portals – Did you know that that person calling about a house for rent also mentioned that they need to hire movers and find a new insurance company? Two new very well qualified leads for moving and insurance that you could monetize if you knew about it.
- Call Centers – You’re live sampling 5% of your workforce for quality every month, but how do you know if 20% of your team desperately needs coaching right away, not in 6 months when they roll through your QA process? How many customers are you going to upset during that time interval?
These are very basic examples, but they illustrate ways you can protect your business with customer engagement data.
Data > Hunches
When it comes to making business decisions based on “I think” (a hunch) vs. “I know” (data), data wins every time. How do you get the data to make the kind of decisions or monetize the opportunities we outlined above that can help your business in any economic climate?
The answer is iovox Insights.
Completely customizable keyword rules: keywords, actions & filters
Specify call outcomes when criteria are met
Actions: tag calls, send email alerts or Webhook
Data: Export CSV & transcriptions, or send via API
iovox Insights is a No-nonsense Truth-Telling Machine
There are four simple steps to shining a light on your conversations (voice, SMS, or email):
Give iovox access to recorded calls, SMSs, or emails. If you’re using us for call tracking already, just turn on call recordings.
You tell us what’s important to know about those calls and messages.
We help you build a set of keyword rules and AI based training for your calls so that our machine learning continually enriches your data.
We put your calls and messages through our conversational AI platform and extract learnings to show you exactly what’s happening on every interaction.
Would you be interested to know what the callers who purchased high value items from your business actually said before purchasing so that your PPC strategy is being fed learnings from converted calls? No problem.
Want to know if Sally is answering her calls with the proper greeting? Done.
Want to know why Ted is such a rockstar at converting, but Steve and Larry don’t seem to have the same results? Done.
Want to understand if those calls for rentals are also leads that you can monetize to other service providers in your industry? Yes, you can do that too.
Demystify your call data with iovox Insights, Conversational AI made easy. Discover more in the video below.
We recently had a great opportunity to mingle with some of the world’s best marketplaces at the Global Online Marketplaces Summit in Miami. Cecilia West, iovox’s Director of Account Management was a featured speaker at the event and shared several data driven outcomes that come from real world iovox Insights and conversational AI examples. We’d encourage you to spend a few minutes watching Cecilia’s presentation to learn more about how iovox can help your business.
Conversational AI and iovox Insights are the future regardless of what kind of economic climate we are facing. We’d love to share with you more about it and you may even qualify for a free sample of iovox Insights.
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