Announcement from Invoca
Lost Sales Recovery helps businesses, especially multi-location and franchise businesses, identify and act on missed opportunities from unanswered calls. On average, 26% of sales calls go unanswered across all industries, with missed call rates as high as 60% in select industries.
Invoca, the leader in conversation intelligence for revenue teams, launched Lost Sales Recovery, a new solution that spots missed sales conversion opportunities that occur when high-intent callers fail to reach a live agent because they hung up or reached voicemail. This technology also addresses an acute challenge for multi-location and franchise businesses by identifying these lost conversion opportunities across every location, region and line of business.
Over One-Quarter of Calls to Businesses Go Unanswered
Even the most successful businesses fail to answer all of their calls and most do not have visibility into their missed call rates at locations and call centers. According to aggregate 2021 data from Invoca customers, an average of 26% of calls from potential customers go unanswered across all industries, and only 2% of these callers leave voicemails. In select industries, like professional services, missed call rates are as high as 60%, leading to countless dollars in unrealized revenue and lost appointments.
Lost Sales Recovery helps businesses in every industry recapture revenue from missed calls, whether it’s a healthcare company rescuing calls for patients trying to book appointments or an auto dealership recapturing callers scheduling test drives. For instance, one tire and automotive repair customer using Invoca discovered that it was missing over 8,000 calls per month across its 1,200 locations and was able to reduce missed calls by 75% and recapture $16 million a year in revenue.
Invoca Connects Customer Data Across the Digital-to-Phone Buying Journey
When combined with Invoca’s market-leading conversation intelligence, Lost Sales Recovery illuminates the entire digital-to-phone-call journey that resulted in unanswered high-intent calls. With these insights, businesses can re-engage the highest value callers with an immediate agent call back or a digital incentive. The ability to re-engage highest-value calls immediately, before they call a competitor, is vital. Invoca’s real-time integration with Five9 makes this seamless.
“Voice is still the preferred method of engagement for customers to get expert assistance, particularly for complex and urgent purchases,” said Scott Black, Senior Director of Business Development at Five9. “Invoca is a valued partner, and their new feature helps businesses optimize the voice channel by giving agents the ability to call back the highest priority callers immediately.”
For callers that don’t need an immediate response, unanswered calls data can also uncover and help diagnose when, where, and why calls are not being answered, like staffing issues, confusing IVR experiences, or malfunctioning equipment.
“For many businesses, revenue growth is tied directly to the experience they provide callers,” said Gregg Johnson, CEO at Invoca. “Phone calls are moments of truth that determine whether or not the caller converts to a customer or appointment, so it’s critical for businesses to understand when their locations and call centers aren’t answering calls. Invoca enables marketing and sales teams to detect, diagnose, and correct call handling issues negatively impacting conversion rates and revenue.”
Invoca Enables Businesses to Reduce Missed Calls and Revive Unanswered Phone Leads
Lost Sales Recovery can dramatically improve performance for sales leaders, marketing leaders, and businesses with multiple locations or franchises:
• Sales leaders can quickly see and act on real-time unanswered sales call alerts across every location and immediately re-engage with those consumers. General and support calls can be deflected to appropriate channels so agents stay productive.
• Marketing leaders can breathe new life into unanswered phone leads and retarget those callers with incentives. This allows for smarter spend and targeting on search and digital ad campaigns driving high volumes of unanswered calls.
• Businesses with multiple locations or franchises have new transparency of how many calls are unanswered in every location. Rules-based call routing can be created to automatically route.
Invoca Customer Commentary on Lost Sales Recovery
Automotive Service & Dealers:
“We are a franchise business with hundreds of local auto repair shops across the country and our franchisees rely on phone calls to book revenue-generating appointments,” said Kate Gardiner, Director of Regional and Local Marketing at Christian Brothers Automotive. “We began to see immediate benefits from Invoca’s Lost Sales Recovery because we have visibility into unanswered sales calls across every location as soon as they occur. From there, our franchisees and their teams are empowered to make callbacks immediately or in the future to increase their booked appointment rate.”
“As a healthcare provider, we rely on phone calls to drive appointments and deliver a personalized experience for our patients,” said Noah Brooks, Manager of Digital Engagement and Analytics at University Hospitals. “Invoca’s Lost Sales Recovery allows us to see exactly where our unanswered calls are happening and re-engage those callers so that we can immediately provide the support our patients deserve and recapture the appointments that are vital to our business’s success.”
”Acadia is a behavioral healthcare provider with over 225 locations in 40 states and phone calls drive nearly half of our patient appointments,” said Amanda Sloan, Director of Marketing at Acadia Healthcare. “Invoca’s Lost Sales Recovery gives us visibility into when calls are not being answered at each location and allows us to optimize campaigns and processes in order to maintain our high standards of patient care, support, and compassion.”
“With a business like ours that has multiple call centers, it’s important that we deliver a personalized call center experience for every caller,” said Tim Mogler, Sr. Account Manager at Mutual of Omaha. “Now with Invoca’s Lost Sales Recovery data, if someone calls a Mutual of Omaha sales center and the call goes unanswered, we get real-time reporting so we can quickly re-engage with that consumer. This ability, plus the transparency in our dashboards and reports across all of our call centers, is invaluable to our business.”
“Lost Sales Recovery is powered by brand new Signals that we’ve added to the Invoca platform. These new Signals are different because they use heuristic voice energy detection – or technology that determines if a human-to-human conversation took place – to uncover whether the caller spoke to an agent, was sent to voicemail, or left a voicemail,” said Nathan Ziv, SVP of Product Management at Invoca. “Customers can easily visualize these Signals inside Invoca’s dashboards and reports, and combined them with AI Signals to rapidly close more leads by recovering missed opportunities.”
Lost Sales Recovery is now available to Invoca customers at no additional cost. To learn more about Invoca Lost Sales Recovery, visit www.invoca.com/product/lost-sales-recovery.
• Product Strategy and Roadmap: Learn more about Invoca’s product strategy and innovation roadmap covered in the Invoca Summit conference Product Keynote.
• Forrester Wave: Recently, Invoca was named a Leader in The Forrester Wave™: Conversation Intelligence: Sales And Marketing, Q4 2021 report, and received top scores in 13 of 24 criteria, including ease of use, product and technology innovation roadmap, and integrations.
Invoca is the leader in conversation intelligence for revenue teams that enables marketing, sales, customer experience, and eCommerce teams to understand and immediately act on the information consumers share via conversations. Through deep integrations with leading technology platforms, revenue teams can turn conversation data into automated action to enhance every digital touchpoint and human interaction, leading to better experiences, more conversions, and higher revenue. Invoca is trusted by top brands like Dish Network, Mayo Clinic, Mutual of Omaha, and 1-800-GOT-JUNK?. Invoca has raised $116M from leading venture capitalists including Accel, Upfront Ventures, H.I.G. Growth Partners, Morgan Stanley, and Salesforce Ventures. For more information, visit www.invoca.com.