The way artificial intelligence is used in marketing platforms can seem a bit mysterious. Sometimes its functionality is overstated, and other times it’s never fully explained. We have previously taken a deep dive into how Invoca’s Signal AI technology helps marketers better understand and predict consumer behaviors by mining data from phone conversations with your customers. If you are looking at call tracking solutions, you may have some notions about how this particular flavor of AI works. To make sure that your thinking hasn’t been skewed by urban-marketing legends, here are five truths and fallacies that will help clear up most common misconceptions.
Fallacy #1: Humans Can Classify Calls More Accurately than AI
If a person listens to a call with a customer, they will be able to easily tell if a call resulted in a sale or not and will accurately record the results.
Truth: The Bots Have You Beat
When it comes to classifying thousands of call outcomes, us humans are inherently flawed in a few key ways. While we’re likely to know our businesses well enough to identify a sale, we eventually get tired and bored. Our process varies from call to call. One person will identify a call as a conversion, while another will not. And the people we often charge with dispositioning a call aren’t actually incentivized to get it right! On the other hand, AI is always consistent, never gets tired, and actually improves over time. But, hey, at least we can love! Take that, AI. Wait, AI doesn’t have feelings. Whatever.
Fallacy #2: Call Tracking AI is Difficult to Set Up
You’re pretty tech savvy, and you know that AI isn’t born smart, you have to teach it. And that takes for-freaking-ever.
Truth: Pre-Trained Models Get You Going Fast
Invoca has pre-trained AI models for a number of industries like insurance and financial services that can get you up and running and attributing conversions in a matter of days. Using data from millions of minutes of pre-recorded calls, our pre-trained models can identify outcomes for some of the most common use cases, like “policy purchased” or “appointment set.” And of course, you can continue to refine these models based on your specific outcomes, or use our custom AI for any use case or industry.
Fallacy #3: All Call Tracking AI Systems are Created Equal
On the surface, it may seem like artificial intelligence serves the same purpose and basically works the same way, no matter what call tracking platform you choose.
Truth: Invoca’s Award-Winning Signal AI is Different
It’s easy to say that a call tracking platform “uses AI,” but it’s more about what value said AI provides. Some call tracking solutions that claim to be AI-powered simply use IBM Watson to transcribe phone calls. While Invoca also utilizes Watson for transcription, our Signal AI technology delivers predictive analytics, not just transcription.
With other call tracking solutions, machine learning may be used in the training process for predictive models that identify positive and negative call outcomes. But the learning stops there. These static models are set to identify call outcomes, which limits their accuracy and therefore affects the accuracy of your attribution.
Invoca Signal AI is different because it keeps learning. Once your call outcome signals are identified, Signal AI continues to analyze your calls and allows you to further refine your call outcome classification and improve the accuracy of the predictions. Our performance scoring tool also makes the accuracy of our predictive models clear and provides benchmarks to improve them.
Fallacy #4: AI only makes sense for Fortune 500 marketers
You need to have a lot of resources and thousands of hours of pre-recorded calls to use Signal AI.
Truth: Smaller Marketing Teams Can Benefit from Call Tracking AI
You don’t need a giant IT team (or any IT team at all) implement and operate Invoca. If you can drop a tag on a website, you can handle it. And the user interface is familiar to anyone who has ever used marketing analytics or automation software like Google Analytics or Marketo. And again, you can use our pre-trained AI to get up and running fast or begin training Signal AI with calls recorded by Invoca as they come in.
Fallacy #5: Signal AI is Too Expensive
We can’t justify the cost of using AI for call analytics.
Truth: Accurate Attribution Pays for Itself
Attribution for conversions is the bread and butter of your bonus check, right? Well, if you want to put steaks on the table, then you shouldn’t deny credit for sales that happened on the phone when the marketing team made it happen. On top of getting accurate attribution, Signal AI allows you to optimize your marketing efforts so your budget gets spent in all the right places and drives more high-quality calls.
In the end, the ROI gains of accurately measuring and attributing call conversions nearly always outweighs the additional cost of the service.
Want to learn more about how companies are using Invoca Signal AI? Register for Invoca Summit today! Early bird pricing ends August 31, 2018.