Today Marchex launched an analytics tool to better capture what it quantifies as a $4 billion opportunity for call-based mobile advertising. Call Analytics for Search is the newest addition to its mobile ad measurement product suite, and it targets enterprise-level advertisers.

The feature set (from today’s press release) includes:

— 100% keyword attribution from all phone calls driven from mobile search.
— Real-time conversion data using Marchex Call DNA technology to identify those calls that are most likely to convert into sales.
— Automated setup and synchronization with leading bid-management platforms, such as DoubleClick, Kenshoo and Marin, which allows search marketers to measure and improve campaigns accurately in real time.

This all comes back to the growth in consumer-initiated phone calls from mobile search.  BIA/Kelsey’s forecasts phone calls  from mobile search to reach 72 billion annually by 2018 — largely driven by smartphone penetration and evolving mobile user behavior.

“Click-to-call ads from search results has become a massive driver of incoming phone calls from mobile consumers to local and national businesses,” John Busby, Marchex SVP of Consumer Insights told us.

But there’s still a gap for tracking the source and quality of most of these calls. By applying technology to fix that blind spot, the idea is to give phone leads better attribution metrics.  And as call volume continues to increase, marketers will be more compelled to rely analytics to make sense of it all.

“In conservatively looking at our own data and the broader industry, we came to the surprising realization that while there’s now $4 billion being spent by marketers on click-to-call, there was not a solution for full measurement and attribution,” said Busby.

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BIA/Kelsey analyst Mike Boland, who co-wrote this post, will be a guest speaker on a webinar with Marchex at 1PM EST today.