Online shopping has boomed in the past decade with most retailers having facilities to purchase their products online. The reasons for consumers purchasing online are abundant: convenience, ease of comparing products, wider selection, better pricing, reviews from other shoppers and of course to save time. You would think that with all these benefits that all businesses would simply leave their lead generation to the digital realm but that is not the case. Although the number of people buying online is continually increasing, consumers still crave human interaction. Fortunately, this need for human interaction includes simply hearing a human voice.
The human voice is a key part of the buying process. Studies have shown that by interacting with another live person, consumers are reassured in their intent to purchase which helps ease more consumers through the checkout process (both offline and online). The importance of human voice in sales and customer service is well documented so it comes as no surprise that despite the emergence of online shopping, phone lead generation is still a thriving industry. Below we have compiled results of various studies who have investigated the link between phone calls and conversions:
Phone 10-15 times more effective than online
BIA Kelsey recently completed a study on the effectiveness of phone and web lead generation. The results were staggering as it revealed that phone calls convert to revenue 10-15 times more often than leads captured online. Where inbound phone calls boasted a 29% conversion rate, online leads only held a 2% conversion rate. These results are a clear indication that consumers who request contact via phone have a significantly higher intent to purchase than those who submit enquiries online.
Phone for faster conversions
Mediahawk, a call-tracking software company analysed call data from a group of online retailers to ascertain whether callers completed purchases after speaking to someone on the phone. Some interesting insights came out of this study, particularly around how the duration of a phone call affects the chance of conversion. The most notable takeaway was that as the duration of the call increased, so did the likelihood of conversion and the speed at which consumers converted after the phone call. It was found that most consumers complete research online but only purchase after discussing with retailers via phone. This can be attributed to consumer confidence increasing significantly when discussing purchases with retailers via phone as the can clarify information on product/services and ask questions before committing to buy. Another factor in the buying process is whether the consumer can relate to the other person during the phone call. Overall the results of the study confirmed that human interaction is key during the buying process.
70% of consumers won’t purchase without a call
Cloud.IQ recently published research identifying that 70% of UK shoppers have abandoned online purchases if they were not able to speak with someone on the phone. Consumers want human interaction via phone to verify product/service information. Consumers also feel more confident in their purchase after speaking to a company representative , thus minimising “buyer’s regret” or risk aversion behaviour that inhibits consumers from completing the purchase. Overall, Cloud.IQ’s research indicated that human interaction is still a key factor in the buying process.
Overall, the main message from the studies undertaken prove that phone calls are still crucial in converting consumers. The effectiveness of phone lead generation is significantly higher than other forms of lead generation as the intent to purchase via phone is inherently higher.
If you are ready to take your phone lead generation to the next level, contact us today to find out how we can work together.