Month: September 2016

Infinity become Google Tag Manager Partner

Infinity are now the only call tracking provider to become a Google tag manager partner. Google tag manager is a tool that makes it easy to add and update tags and code snippets on website and mobile apps – including conversion tracking, site analytics and remarketing without editing website code. This partnership is the latest in Infinity’s growing network. Infinity already implements with over 25 of the leading web system providers, including Google Analytics, AdWords, Live Chat and DoubleClick Search.

This month Infinity have also been shortlisted for Best Innovation Software at the UK Search Awards 2016.

Making a call on calls; why Smedvig Capital has invested in call tracking

 

Article written by Smedvig Associate, Joe Knowles:

Smedvig Capital recently invested in Infinity, a leading UK provider of call tracking solutions. You have probably never heard of call tracking. So in this article we aim to explain why we believe that call tracking is hugely under utilised today, with vast amounts of value still to be created for marketing, sales and operations teams and why we are excited to be investing in this area of marketing technology.

As digital advertising spend continues to rise, the ability to track and optimise campaigns is increasingly important 

Digital advertising spend has grown at 19% per year since 2010 and is expected to accelerate. As digital gains share of advertising and marketing budgets, it becomes increasingly important for companies to accurately measure the return on investment (ROI) from their digital advertising spend and to optimise campaigns.

Fig 1: Digital advertising spend continues to grow

This may not be news to you. But what many are not aware of is the growing importance of inbound sales calls in a multi-channel world and the difficulty this creates when it comes to measuring ROI from digital advertising.

Inbound sales calls are an increasingly important part of the multi-channel customer journey

Inbound telesales is an increasingly important sales channel for digital businesses. In today’s complex multi-channel world, a prevailing customer behaviour is to research a product or service online before ultimately calling a business to make the purchase. A Google commissioned report found that 60% of consumers think it is very or extremely important to be able call a business during the purchase process. This is particularly true of considered purchases involving high value transactions or complex products. For example, Infinity has seen rapid traction in sectors such as holidays, autos, healthcare and business to business services and we believe this has not even scratched the surface.

“60% of consumers think it is very or extremely important to be able to call a business during the purchase process”

The rise of mobile devices has boosted the volume of inbound sales calls to businesses. Customers (both individuals and businesses) are relying more and more on their smartphones to identify, research and connect with potential products and services. The convergence of online research and voice connection onto a single mobile device has boosted ‘research online – call to buy’ behaviour which has ultimately driven higher call volumes.

Fig 2: Mobile call volumes to businesses are growing 16% per year  

Furthermore, an inbound call is a strong signal of intent. According to BIA Kelsey, inbound calls are 10 to 15 times more likely to convert to a sale than web leads. This makes calls even more valuable to businesses.

“Inbound calls are 10 – 15 times more likely to convert than web leads.”

With more and more customers starting their research online before calling a business when they intend to buy, it is clear that being able to track how a customer arrived at and behaved online before making a call is critically important to marketing teams. But herein lies the problem. Most businesses are not able to connect the dots between what they spend on digital advertising and the inbound calls they receive as a result.

The problem is that many businesses are not able to link digital behaviour to inbound calls

In a fully digital world, the effectiveness of marketing spend is tracked from the first time a user is attracted to a website through to the final sale online.

However, for the many businesses who rely on inbound calls to convert journeys that start online, the link is broken. These businesses have to decide how to spend their digital advertising budget with no visibility on how this spend converts to calls and ultimately to sales. They are at a disadvantage compared to pure online-only businesses.

Fig 3: Calls disrupt the ability to measure and optimise marketing spend

The solution is visitor level call tracking

With visitor level call tracking, every visitor to a clients’ website is shown a unique telephone number on that site (or page on a site, or position on a page). Thus, when a call is received to that unique number, the call can be linked back to the specific online journey of the caller. The ‘click stream’ is tracked at a visitor level and identifies the exact search term / advert that the caller clicked on to reach the site, and what pages on the site they viewed prior to making the call.

Fig 4: The solution is visitor level call tracking which connects online and offline activity through a unique telephone number on the website

Call tracking completes the loop between digital advertising spend and sales calls, allowing spend to be tracked to calls, and ultimately to sales. This has profound benefits for marketing, sales, and operations teams.

Marketing teams: optimise digital ad spend based on true ROI

Call tracking integrates online and offline marketing which enables teams to monitor channels, sources and location.

This allows marketing teams to track advertising spend through to results, optimising sources (down to the keyword level) that are the most profitable and most likely to convert in order to maximise ROI.

Sales teams: armed with context, increase conversion

Call tracking enables telesales teams to increase conversion rates of calls as well as the rate of up-sell to the caller.

Based on the customer ‘click stream’ before the call, a call tracking system can ‘whisper’ lead information to the salesperson which helps to tailor the sales pitch to the individual.

Operations teams: automatically route callers based on intent

Call tracking can increase efficiency within a call centre by automatically routing calls based on onsite and search behaviour.

Customers can be pushed to the front of the call queue, prioritising those that are higher value or more likely to convert based on indicators in their ‘click stream’. Similarly, calls can be automatically routed to the most relevant team.

Call analytics software can recognise, investigate, and block calls that have suspicious patterns to prevent wasted telesales time with fraud or spam calling.

To Infinity and beyond

The actual market for call tracking is nascent today with so much untapped potential. Any business which spends more than a few thousand pounds a month on digital advertising and makes some of its sales via inbound calls, should be using call tracking. Yet very few actually are. This is why we are excited and why the market is starting to listen. According to data from Datanyze, the number of call tracking installations is growing at more than 60% per year.

“Any business which spends more than a few thousand pounds a month on digital advertising and makes some of its sales via inbound calls, should be using call tracking. Yet very few actually are.”

Even more exciting is the opportunity to expand from core call tracking insights into other areas of marketing technology. As marketing technology and advertising technology continue to converge, call tracking is uniquely placed to create actionable insights across departments with increasing layers of rich data. It has huge potential to amplify all areas of sales, marketing, advertising and operations. The opportunities are infinite.

Smedvig Capital recently invested £10m into Infinity. You can read more about the deal here.

This article referenced the following reports: Google; ‘The role of click to call 2013’, BIA / Kelsey; ‘Calls too businesses 2015’

Smedvig Capital invest £10m in marketing technology business Infinity

Infinity, one of the fastest growing marketing technology businesses in the UK and a market leader in call tracking, today announced that it has secured £10 million of funding from Smedvig Capital.

Call tracking evolved from the need to identify which online marketing campaign investment delivers real sales. Infinity enables clients to track calls from their website and analyse exactly which marketing activity resulted in which sales and optimises the chance of those sales closing.

The strength of the market opportunity for Infinity is evidenced by rapidly increasing search and display advertising spend across the world, combined with ever increasing calls to businesses – US market growing 16% p.a. to 160 billion calls in 2019 – driven by smart phone usage according to BIA / Kelsey.

Infinity has already established itself as a pioneer in call tracking, supporting marketing, sales and operations across a strong client base in the UK and US. It has excellent agency partnerships, strong technology and broad third party integrations. This investment will facilitate further product innovation and allow the business to continue to build on its drive for customer success.

Paul Walsh, Infinity’s CEO, previously created one the UK’s fastest growing independent digital agencies and founded Infinity when they couldn’t find a call tracking solution for their own clients. Paul commented:

Infinity has been bootstrapped to date but we have still managed to grow extremely rapidly. This injection of funding will now enable us to invest heavily in our product offering and accelerate our US expansion plans.”

Warren Newbert recently joined the business as COO with considerable experience of working with high growth, venture backed, technology businesses. Warren commented:

“Infinity is already a successful business but the opportunity for growth is limitless and potentially we will look to acquire other technology or people as well as pursuing our ambitious organic plans.”

Jon Lerner, Managing Director at Smedvig Capital, commented:

We are excited to be backing Paul, Warren and their team as the business starts to rapidly build on a very solid base in the UK and US. They have a great team, a strong market position and a clear vision of where the business is going. We are very much looking forward to working closely together to build a category leader.”

Mediamorph Raises $21 Million Series C Round

Mediamorph, a leader in streamlining the Media & Entertainment digital media supply chain, has closed a $21.2 million Series C financing. The financing was led by Advance Vixeid Partners and by senior advisors to Lee Equity Partners including Bob Wright and Barry Baker. Smedvig and Liberty Global Ventures also participated in the financing.

The new capital will be used to expand Mediamorph’s award-winning technology platform and to grow the organization to meet soaring demand. Mediamorph’s cloud-based enterprise software and data management platform streamlines the digital media supply chain, helping companies manage contracts and content rights, track content consumption, and enable data-driven decisions to maximize revenues. All of Hollywood’s major studios, as well as the country’s leading television networks and largest video service operators rely on Mediamorph’s solutions.

Mediamorph’s newest board members include Nomi Bergman, President of Advance/Newhouse Partnership and former President of Bright House Networks, Bob Greene, Managing Director, Liberty Global, and Barry Baker, Senior Advisor to Lee Equity Partners.

Barry Baker, Senior Advisor to Lee Equity Partners said:

“We are thrilled to become investors in Mediamorph. The company is experiencing remarkable growth, and we see tremendous opportunity for the company’s new products and solutions. Customer feedback about the company’s solutions has been incredible.”

Rob Gardos, CEO of Mediamorph said:

“In the last 24 months, we have made tremendous progress in advancing the capabilities of our platform. This investment will help us to accelerate our growth and will enable Mediamorph to deliver even more value to our customers.”