2023 Branded Calling Trends Report

Introduction

Branded calling is a visionary calling technology that has seen a continued upward trajectory since its introduction into the telecommunications marketplace more than eight years ago. First Orion launched our branded calling solution to help businesses - both enterprise-level and SMB size - reach more customers, restore trust, and improve their customer experience through properly identified outbound calls.

Methodology

Analyzing our customer call data, we identified key areas where First Orion and our customer base grew exponentially over the last year. The information included in this report analyzes call data from Dec. 1, 2022, to Dec. 1, 2023 - year-over-year - except where explicitly stated otherwise.

The data has been categorized by industry to show how branded calling has grown across the top five industries by number of treated calls in 2023. These top industries are retail, financial services, insurance, healthcare, and home services.

Key Findings

The past year showed massive momentum for branded calling adoption across multiple sectors:

• Total Volume: Over 1.5 Billion branded calls were placed in 2023.
• Year-Over-Year Growth: The number of branded calls across industries grew by 67% from Dec. 1, 2022 to Dec. 1, 2023 (moving from 849,239,594 to 1,414,532,877 treated calls).
• Industry Concentration: The top 5 industries accounted for 65% of all treated calls in 2023.
• Highest Volume: The Retail industry placed the highest number of branded calls annually with 228,823,428 calls.
• Fastest Growth: The Home Services industry saw the most significant increase in treated calls for our 5 key industries, marking a staggering 1,517% growth year-over-year.

Retail

By the Numbers

No industry saw as much branded calling usage in a single year as the retail industry. Our retail clients saw significant growth in the last year, placing the largest number of branded calls of any industry at 228,823,428 treated calls for 2023.

You can also see that the growth year-over-year, from the end of November 2022 to the end of November 2023, was substantial in the retail space. In 2022, retail clients made almost 1.9 million (1,890,719) branded calls per month. By November 2023, that number grew by 1,162% and now stands at nearly 24 million (23,854,975) monthly treated calls.

The Results

Retailers using branded calling comprise many specialties, like home improvement, apparel, sports and leisure, food and drug, and general merchandisers.

Branded Calling Helps Retail Businesses:

• Deliver Excellent Customer Support
• Create More Personalized Rewards Program Initiatives
• Notify Customers of Incoming Deliveries
• Connect With People Through Customer Satisfaction Surveys
• Relay Information on Pickups

Our clients used branded calling to deliver on the promise of a smooth and friction-free retail experience for their customers. Through proper brand saturation and awareness, retailers have a better opportunity to create repeat customers who are happy to continue buying from their favorite brands.

The Benefit of a Branded Call for Retailers (Based on First Orion client case studies):

• 39% LIFT in Answer Rate
• 55% DROP in Decline Rate
• 19% BOOST in Conversions

Financial Services

By the Numbers

Branded calling is a fantastic option that integrates well with many businesses in the financial services industry, including local and national banks, credit unions, financial advisors, investment firms, and securities.

Banks, credit unions, and other financial service institutions continue to adopt branded calling into their communication strategies at a rapid rate, making up the industry with the second-largest number of treated calls placed per year with over 210 million (210,884,456) branded calls in 2023, up from 176,910,765 total calls in 2022.

Many financial institutions realize the importance of protecting their customers online and through phone call communications, leading to the rapid adoption of branded calling technology in the financial sector.

The Results

Customers trust their banks and credit unions to protect their assets from fraudulent activity. With number spoofing on the rise, financial institutions must take ownership of their communication with a branded calling solution.

Branded Calling Helps Finance Businesses:

• Collect Outstanding Balences
• Prevent Fraudulent Activity
• Relay Account Updates and Alerts
• Complete Online Loan and Mortgage Applications

When financial service providers use branded calling, they enhance the customer experience through trustworthy communication. More money is saved, and a more significant ROI is realized thanks to eliminating costly fraud mitigation processes.

The Benefit of a Branded Call for Financial Service Providers (Based on First Orion client case studies):

• 26% BOOST in Answer Rate
• 50% DECREASE in Decline Rate
• 58% LIFT in Conversions

Insurance

By the Numbers

Despite a slight downturn in the number of treated calls in 2023 compared to 2022, our insurance clients still placed the third-highest number of branded calls in 2023. Almost 183 million (182,994,887) branded calls were placed by insurance providers, leading to an increase in policies sold and repeat customers happy to renew their policies each year.

Insurance covers almost all facets of everyday life, and branded calling works for every specialty within the insurance space, including Life, Property, Auto, Casualty, Health, and Home.

The Results

Insurance providers care about providing a safety net for their clients, but they also put a strong emphasis on providing top-notch customer experiences that create repeat customers. Branded calling is the key to better customer experiences and more policies sold.

Branded Calling Helps Insurance Providers:

• Renew Policies
• Process Online Applications
• Create New Sales
• Cross-sell and Upsell Clients

Reduce the workload on your agents by minimizing repeat calls and increasing first-call connections. Once your customers realize it’s you attempting to call, they’ll answer at a higher rate, and you’ll sell more policies!

The Benefit of a Branded Call for Insurance Providers (Based on First Orion client case studies):

• 67% BOOST in Conversions
• 30% INCREASE in Policies Sold
• 18% DECREASE in Calls Per Individual

Healthcare

By the Numbers

Healthcare branded calling saw an 86% growth from November 2022 to November 2023. With more than 19 million (19,247,761) branded calls by the end of November 2023 (compared to 10,334,868 in November 2022), the healthcare industry is the fourth-largest by number of calls.

Branded calling can be applied across many different areas of healthcare, not just hospitals and doctors' offices. Our clients encompass various sub-verticals such as telehealth, medical equipment suppliers, hospitals, pharmacies, dentists' offices, and physicians' offices. There is always a need for clear communication between patients and healthcare providers, and we predict continued exponential growth for the healthcare industry in 2024 and beyond.

The Results

Patients rely on clear communication when important healthcare information needs to be shared. And that's precisely what healthcare professionals can provide with a branded phone call.

Branded Calling Helps Healthcare Businesses:

• Share Vital Test Results
• Notify Patients of Prescription Refills
• Collect Outstanding Balances
• Relay Appointment Reminders and Confirmations

As a result of more robust communication between patients and specialists, healthcare providers have been able to give more meaningful care and an overall better patient experience.

The Benefit of a Branded Call for Healthcare Providers and Patients (Based on First Orion client case studies):

• 23% LIFT in Answer Rate
• 45% BOOST in Conversions
• 34% DROP in Decline Rate

Home Services

By the Numbers

For our five key industries, the vertical that saw the most considerable year-over-year growth is the home services industry, with an impressive 1,517% growth from November 2022 to November 2023. In addition, the home services industry placed the 5th highest number of branded calls per year with over 17 million treated calls.

The home services industry encompasses businesses like delivery specialists, utility services, solar energy solutions providers, handyman services, and home restoration professionals.

The Results

Home service businesses need to be able to do two things to succeed: operate efficiently and provide best-in-class customer service. Whether delivering an important order update or providing clear and up-to-the-minute communication about utility outages and alerts, home service specialists used branded calling to excel in their day-to-day operations.

Branded Calling Helps Home Service Businesses:

• Alert Clients of Utility Outages
• Share Appointment Reminders
• Notify Customers of Payments Due
• Schedule and Update Customers on Deliveries

For businesses that operate in logistics, missed communication on deliveries can mean costly re-delivery attempts, which hurt the bottom line. Missed calls happen when customers don't recognize your number and ignore your call attempts. But with a branded call, they know exactly who is calling.

The Benefit of a Branded Call for Home Service Providers (Based on First Orion client case studies):

• 25% BOOST in Successful Outcomes
• 25% LIFT in Conversions
• 46% DROP in Declined Calls

Conclusion

In the evolving branded calling landscape, 2023 stands out as a period of remarkable expansion. From December 1, 2022, to December 1, 2023, the volume of branded calls experienced a significant uptick, underscoring the increasing prevalence of this communication medium.

The past year was a time of unprecedented growth within the branded calling space, and trends point toward even further expansion of the technology across industries in 2024 and beyond.

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