A recent MVT test using Google Website Optimizer answered the question.
"Exactly what impact does having an off-line Call To Action next to an on-line have?"
In this test I would measure the impact upon the click to apply rate on a landing page where using MVT I would serve up a link to a pop-up window which would show both a telephone sales number and a branch locator to a section of the page visitors.
During the test period, in addition to monitoring the test console results I monitored the Google Analytics report for the pop-up window.
Here's the summary of results:
675 Visitors saw the default (no offline CTA)
248 of which click Apply = 36.7% Conversion rate
678 Visitors saw the offline CTA variant
205 of which click Apply = 30.2% Conversion rate
The offline CTA variant is down –17.7% in Conversion rate
against the default page
The offline CTA pop-up received 569 Unique Views in the
test period. Therefore 83.9% of people who see an offline
CTA will click it.