Whether you’re a marketing guru who knows all about call tracking, a small business owner just beginning to implement measurement tools, or a casual techie who doesn’t know a thing about any of the above, you probably recognize the importance of benchmarking performance. When you’re studying your success, it’s critical that you understand the value of your initiatives; and often, finding an industry benchmark to compare yourself to is a great method to do so.
To help you analyze how you stack up, we did a deep dive of call-based conversion rates, using our SourceTrak technology to obtain the data. SourceTrak logs page visits for every instance in which a dynamic number is inserted on a business’s webpage, then tracks all phone calls originating from those pages, as well as recording call durations. With that data, we delved into hundreds of thousands of calls across millions of website visits to provide you with the industry benchmarks against which you can measure your success.
Why break the results down by industry? Because understanding your industry and the way it generally uses the telephone is extremely important. For example, if you’re in the food services industry, the way your business uses the telephone to engage with customers is very different than, say, professional services. Someone in professional services would likely need to answer questions that are more in depth than things like hours, location, and making reservations. When you’re measuring your business’s success, it’s important to compare your conversion rate and call duration to an industry benchmark, so you can get a more specific idea of how you stack up. Here are the benchmarks:
Do the conversion rates make sense for your industry? If you’re in home services you might not be surprised by the high conversion rate: if someone has a hole in his roof, he’s going to search for a website and make a call in short order. If you’re in food services, you likely won’t be surprised by the low conversion rate: general information that a customer might want is usually found right on your website, so there’s not as much need for a call.This kind of data is useful when you’re looking for a way to measure the success of your marketing, and is key to understanding your conversions. How well did you stack up against others in your industry? Feel free to share your take in the comments section below, learn more about call tracking and how tracking your marketing spend can help your business, or read a free white paper about tracking your phone leads now.