I am struck by the many parallels between Internet marketing and telemarketing. For one, they both generate a lot of historical data allowing for “forensic” investigation.
Here are some web site statistics and their equivalents in telemarketing:
For web traffic history, all kinds of additional demographic and behavioral information is tracked, stored, and available for analysis. For instance: referring websites, country, type of computer used, time on page, visitor paths, and much more- making possible what web analytics experts refer to as “deep diving.”
In the world of telemarketing, when you combine demographically selected prospect lists with tracking the above basic metrics, you can accomplish nearly the same thing.
Why the deep dive? Well, as you probably have heard, “there’s lies, damn lies, and then there’s statistics.” Top-level, aggregate ratios and moving averages rarely tell you the whole story or give you actionable insights.
Consider the following scenarios:
For the last six months, your online sales and ROI have remained steady. You promote your wares through a variety of online channels including Pay-Per Click advertising (PPC).
Being the sort that feels out of sorts when there’s seemingly nothing to worry about, you audit your PPC spend. After some Excel gymnastics, you discover that 80% of your sales are coming from brand keywords, whereas your remaining keywords consume most of your PPC budget.
Your brand keywords are subsidizing the campaign. In fact, some of your non-brand keywords are huge losers. You kill the non-performing ads and realize an almost immediate boost in your ROI.
You make a change to the telemarketing script and your rejection rate goes up while your conversion rate goes down. You think something is wrong with your new script.
You investigate further and find that the higher rejection rate is coming from a very specific demographic for which your product or service is not suited. Previously, your agents weren’t able to ferret these out early enough using the old script. Furthermore, the drop in conversions is linked to a group of new agents added to the project that still need to find their sea legs.
So, what at first blush looked like a negative, turned out to be a positive as your telemarketing agents now use their time more efficiently. Had you not investigated further than the aggregate statistic, you might have reverted to your old, less effective script.
So, when it comes to statistics, “drill Baby, drill!”