As mentioned in a previous post, the Tele Business USA team will continue to provide insights and analysis of data trends, connection rates and conversion rates. In...
In this update, we focus on connection and conversion rates of Shelter-In-Place states, along with counties that have experienced a large amount of COVID-19 cases.
Shelter-In-Place and Connection Rates
Overall, connection rates continue to hold steady. Similar to previous research, a drop in connection rates typically occurs for five to seven business days after a state declares a Shelter-in-Place order, and then gradually increases back to normal status. The below chart summarizes this scenario, as the largest quantity of states declared Shelter-in-Place ordinances in early April.
A few notes from what we are seeing above:
- · Connection rates hold strong throughout each week, barring a normal slight downtick on most Fridays, and a drop leading into Easter Weekend. This is consistent with Pre-Covid data.
- · For those records in states without Shelter-In-Place (individual dates by state), the connection rate averages only 1% higher for the same day.
- · The national connection rate between 01/27/2020 and 03/10/2020 was 13.5%, lower than the trend line in the above chart.
- · Dataset consists of 84,576 calling attempts that took place between 03/23/2020 – 04/23/2020
- · In summary, connection rates have been increasing since the 03/11/2020 White House Press Conference and the difference between Shelter-in-Place and Non Shelter-In-Place states are minimal. Unless the target market is retail, restaurant or first responders, no special strategy is needed counter low connection rates.
COVID-19 Cases vs Connection and Conversion Rates
After reviewing overall connection rates, the TBIZ team reviewed connection rates and conversion percentages to see if they are negatively impacted in areas experiencing higher amounts of COVID-19 cases.
This dataset consisted of 51,080 calling attempts and 4,902 decision maker conversations that took place between 04/01/2020 – 04/29/2020, overlaid with the number of COVID-19 cases by county. We note the following:
- Overall, conversion % is not drastically impacted by the number of COVID-19 cases present in a county. Even at the highest number of cases (550+), conversions are still at 24.44%, just below industry averages of 28%-30%.
- Similar to conversion %, connection rates do not seem to be impacted by the number of COVID-19 cases present in a county.
- Our take on this data: The country wants to work, and most marketplaces are open for business.
If you are interested in seeing this data segmented differently, such as by industry or geographic location, please feel free to contact Robert Levy at 877-315-8353 to discuss. The TeleBusiness USA team will be more than happy to prepare a customized report for your review.
Good luck and stay safe!