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Marchex Institute Report Finds Major Gaps in Call-Handling Performance within Auto Industry, Resulting in Millions of Dollars in Lost Revenue

Benchmark report empowers brands leveraging call tracking and analytics to compare their performance against industry average

SEATTLE--(BUSINESS WIRE)--Oct. 18, 2017-- Marchex (NASDAQ: MCHX), a leading provider of call analytics that drive, measure, and convert callers into customers, released an industry index report today that benchmarks the call-handling performance of 16 major car brands. The study analyzed more than 8 million calls in the United States and found that more than 19 percent of calls are unanswered by the dealer or abandoned by the customer. Poor handling of any phone calls can result in lost or delayed opportunities that could otherwise have been appointments, sales, or positive customer experiences for the consumer.

Brands were evaluated on their performance across six key performance indicators, including failed calls, unanswered calls, and several forms of abandon rates. Key findings include:

  • More than 19 percent of calls went unanswered or were abandoned.
  • More than 10 percent of callers that abandoned did so during the automated routing or voicemail process.
  • Nearly 70 percent of all inbound calls to dealerships were inquiries for parts and service, which is a key revenue driver for brands.
  • More than 10 percent of all calls to dealerships are for new sales opportunities, including new or used vehicles.
  • The impact of failed calls on businesses is significant, including reduced customer satisfaction and lost opportunities to make new sales or acquire new customers.

“If you are leveraging call tracking technology in the auto industry, you know these KPIs well, but you probably don’t know how your KPIs compare to your competitors or the industry as a whole,” said Matt Muilenburg, senior vice president, and head of automotive at Marchex. “This study can give you the data you need to optimize the performance of your call handling and your call handlers.”

The Marchex Institute leveraged the company’s proprietary Speech Analytics solution to analyze millions of anonymized calls that were placed in the first half of 2017. The study found that successfully processing call audio at scale enables the best-performing companies to understand what happens on phone calls, how dealers are handling those calls, and what consumers are expecting when they make contact with a dealership.

Marchex solutions are leveraged by some of the largest and most successful brands in the automotive industry, including two of the three largest U.S.-based manufacturers. The company released an introductory study in January that highlighted the need for dealerships and standalone service shops to better optimize call processes in order to convert sales. Today’s report furthers the company’s commitment to help the auto industry identify and solve complex problems.

About Marchex

Marchex understands the best customers are those who call your company — they convert faster, buy more, and churn less. Marchex provides solutions that help companies drive more calls, understand what happens on those calls, and convert more of those callers into customers. Our actionable intelligence strengthens the connection between companies and their customers, bridging the physical and digital world, to help brands maximize their marketing investments and operating efficiencies to acquire the best customers.

Please visit https://www.marchex.com/blog, or @marchex on Twitter (Twitter.com/Marchex), where Marchex discloses material information from time to time about the company, its financial information, and its business.

Source: Marchex

Marchex, Inc.
Investor Relations
Trevor Caldwell, 206-331-3600
ir@marchex.com
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