Ever had the feeling that half of your marketing budget was wasted, but you just didn’t know which half?
It’s the classic marketers’ dilemma – publicists have wrestled with this tedious problem since the turn of the century.
This week, a call-tracking company from Reigate, Surrey, have won £10m of investment from Smedvig Capital, a VC specialising in venture capital funding to UK and Nordic based companies, to try to put an end to the problem – by matching calls from customers to the marketing campaign that piqued their interest.
Infinity, the number one rated call tracking service on the Google Apps Gallery (says the company’s website), was founded by CEO Paul Walsh in 2010; after a decade managing paid search campaigns Walsh became frustrated “that having no understanding of which phone calls resulted from specific campaigns and paid search keywords compromised the ability to prove the value of that campaign.”
Infinity Tracking was launched after nearly a year of development and internal investment and an account management team put in place.
The company grew organically for 4 years, allowing both agencies and clients to “manage their campaigns with a full understanding of both on and more importantly offline conversion points”, and “gathering features that focus on making our customers more successful.”
Next came a fully featured cloud based phone system, again 12 months in development; Infinity Hosted PBX has now been going for over a year and is used by clients in both the UK and US, as well as other global territories.
The Infinity Caller Insight App, which integrates with Salesforce, giving clients a “real time view of the key interactions that the user has had prior to calling”, resulting in “a head-start on the competition” and “the highest levels of efficiency and operation”, completes the disruptive tech trifecta.
Shortly prior to Smedvig’s decision to invest, Warren Newport, a tech industry veteran with a long history of working with venture backed, high-growth firms, joined Infinity as Chief Operating Officer.
Newport described Infinity as “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.”
Smedvig Capital MD Jon Lerner also 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.”
Walsh himself says: “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.”
Infinity point to “rapidly increasing search and display advertising spend across the world” and more calls to businesses – with the US market growing 16% p.a. to 160 billion calls in 2019 – thanks to the ubiquity of smartphones, as key factors that will ensure the continuing success and growth of the business.
Infinity and it’s 50+ staff also partner with hundreds of digital marketing agencies, offering both referred clients and a re-seller model, as well as the caller insight app, for Salesforce customers, which tells sales people exactly what products the customer was looking at before they made the call.
Spooky – but it’s a brave new world consumers are getting used to. The more efficient data tracking by marketers becomes, the more the conversation starts not when the customer picks up the phone, but almost as soon as their first search on their first device.
Let’s be honest, if you own a smartphone, a laptop, tablet or even a PC, you kind of already voted with your feet.