The Silicon Review
As worldwide organizations look for ways to make big data actionable, solutions such as call analytics are well positioned to help customers balance multiple goals: uncovering new revenue opportunities, reducing costs, and improving the customer experience. When combined with text analytics and enterprise feedback management (EFM) software, speech analytics forms a foundation for an effective Voice of the Customer analytics strategy.
In a parallel way, call analytics is primed for immense growth. With more than two-thirds of Americans now owning a smartphone, advertisers and brands are showing strong demand for mobile marketing. Many businesses have made large profits by promoting their business through mobile advertising. Analyzing what happens on those ads from click to customer (or abandon) is critical for marketers looking to understand and optimize their spend.
By leveraging the breadth of call tracking and call analytics, Marchex connects online behavior to real world, offline actions. Marchex provides solutions that help companies drive more calls, understand what happens on those calls, and convert more of those callers into customers.
Marchex started in the pay-per-click industry. As the firm truly started to understand the needs of its clients and the changing business landscape, it realized that the gap for most businesses was figuring out a way to connect real-world and online interactions, and how to track the customer path to purchase in an omnichannel world.That has led Marchex to where it is today - a leader in call analytics.
Facing industry challenges
One of the biggest challenges for companies today is the ability to keep up and react to the evolving digital economy. It’s no secret that the rise of ecommerce and mobile devices has changed the game for consumers and marketers alike. Consumers now have access to information and purchasing options at their fingertips - anytime, anywhere. But more importantly, from the business standpoint, it has become more challenging to capture the customer journey and quantify the path to purchase – bridging the gap between online and offline channels. Despite the focus on online channels, one of the biggest misconceptions many marketers face today is thinking that traditional, offline channels are obsolete. In actuality, research has found that the phone is still businesses’ most viable sales channel. Consumers who initiate inbound phone calls during the path to purchase have been proven to convert faster, spend more, and churn less than those that don’t make a phone call.
Online channels are great tools for researching a product or service, but at the end of the day, it’s a conversation with another person that can help us feel confident about making a purchase. The phone is a key channel for facilitating that interaction and building that confidence.
Marchex Omnichannel Analytics Cloud helps businesses maximize customer conversions from phone calls by optimizing media spend across every channel. From search analytics, site analytics, display and video, to social media – Marchex provides businesses a holistic view into what channels are driving calls. What’s great is that Marchex solutions integrate seamlessly with the marketing dashboards businesses are already using. They finally have access to data on which keywords, display creative or web pages are driving calls.
Marchex Audience Targeting enables companies to act on insights from their own caller data to retarget past callers, and build new audience segments modeled after their best customers. Not only does this allow companies to target the right prospects, but the data-driven approach helps lower new customer acquisition costs.
Marchex Speech Analytics helps customers understand, at scale, what’s happening on inbound calls. The proprietary technology, which was recently proven to be more accurate than IBM’s Watson, enables decision makers to dive deep into call data including duration, key words, tone, etc. Many enterprise customers use Marchex Speech Analytics to improve sales and call center operations. They can determine if sales scripts are being used, what areas of the company are performing well and closing leads, and where there might be opportunity for cross-training and development.
Marchex Call Tracking, a foundational product at Marchex, helps customers measure the channels that drove phone calls, so they know precisely how effective their digital marketing strategies are at making the phone ring.
“I look at the relationship that we have with Marchex as an example of what a strategic partnership should be. It’s collaborative. It’s responsive. It’s all the things I want to have in a partnership.”-Chuck Tilton, Director, Agency & Partner Operations, CDK Global
A culture of innovators
Today the company employs nearly 300 people and attracts a culture of innovators, collaborative thinkers and people that think big. Marchex finds itself in a sweet spot -the market leader in the growing space of call analytics, but also small enough to act nimbly, take smart risks, and get things done. When it comes to what guides Marchex, it’s simple: the firm takes care of its employees and puts priority on driving customer success. Each year, the company hosts ‘Hack Week,’ an event where employees take time to identify problems, innovate, and sprint to develop solutions for both internal and customer facing challenges. Hack Week is one of many ways the company encourages and celebrates its employees to think outside the box.
Helping businesses improve ROI and drive more revenue from callers
Connect media to your customer calls: See which channels are driving calls to your business—so you can optimize your marketing spending.
Understand what happens on the call: Your marketing has worked. The phone is ringing. Tune in to reveal actionable insights that can turn that caller into a customer.
Acquire more of your best customers: Maximize the ROI on your advertising spend with performance-based media.
Russell Horowitz, Co-Founder and Executive Director
As a collaborative venture, Marchex was started by John Keister, Ethan Caldwell, Peter Christothoulou, and Russell Horowitz. Later on, Horowitz shouldered the responsibility as the principal executive of Marchex. During the early years of Marchex, Horowitz was the driving force behind it and served as its Chairman and Chief Executive Ofﬁcer. Under his leadership, the company grew through a build and acquire strategy and went public in 2004. By the end of their ﬁrst day on Wall Street, the stock rose more than thirty percent, proving to be one of the most successful IPO’s in 2004. Fast forward, the Seattle-based company now employs nearly 300 people. After serving as a consultant and a member of the ofﬁce of the CEO the last year, Horowitz recently formalized his return to the company by accepting the role of Executive Director last month.