Unleashing the Enormous Potential of Pay Per Call
Unleashing the Enormous Potential of Pay Per Call
When it comes to gauging consumer interest, nothing speaks louder than a phone call. The act of dialing a business indicates a strong intention to engage with a product or service. For businesses, these phone calls are like gold – genuine leads from live individuals actively seeking their offerings. Moreover, the seriousness of callers cannot be overstated.
In fact, those who pick up the phone are primed to make immediate purchases. We have become conditioned to expect instant gratification in our buying experiences, whether it’s the desire for quick delivery on Amazon or same-day services. Consequently, when a customer makes a phone call, it signifies their urgency to obtain the desired product or service. This heightened sense of immediacy greatly increases the likelihood of conversion, making phone leads the most valuable type of lead for any business.
The conversion rates associated with phone calls are far superior to those of web leads or online purchase forms. In certain campaigns, businesses have witnessed astonishing conversion rates ranging from 20% to as high as 70%. The excitement and readiness to purchase exhibited by callers contribute to such remarkable figures.
Phone calls offer the highest return on investment for all stakeholders involved – be it the affiliate, brokers, or the ultimate buyer of the call. The revenue generated through click-to-call skyrocketed from nearly six billion dollars in 2015 to a staggering ten billion dollars in 2018. This exponential growth is driven by the increasing number of consumers who opt for phone calls when seeking important products or services. In fact, click-to-call has emerged as the simplest and most preferred method for connecting with businesses.
By harnessing the power of pay per call, businesses can tap into a massive opportunity to capitalize on high-intent leads and maximize their conversions. The potential for success in this realm is boundless, as the value of phone calls continues to soar with each passing year.
Unleashing the Power of Phone Calls: Unlocking the Value of High-Stakes Purchases
Phone calls hold immense significance because they typically occur in situations where a purchase is complex or essential to the individual making the call. For everyday items like laundry detergent, human interaction is unnecessary. You select what you need, make the purchase, and have it conveniently delivered – a simple transaction. However, consider scenarios that involve matters of great importance, such as mortgages, car insurance, or immediate needs like towing services or fixing a leaky roof causing kitchen flooding.
In these critical moments, picking up the phone and making a call becomes imperative. Phone leads often revolve around significant investments that are expensive, as businesses cannot sustain themselves by fielding calls about trivial items like fidget spinners. The costs associated with maintaining a call center, including employee salaries, workplace infrastructure, taxes, insurance, management, technology, and software, would far exceed the returns generated from a two-dollar purchase that requires 22 minutes of assistance. The economics simply don’t add up.
However, the true value of phone calls shines through when it comes to high-value transactions, such as mortgages. Consider the substantial sums of money involved in such purchases, reaching hundreds of thousands or even millions of dollars. Similarly, when buying a new car, contacting the sales representative at the dealership to inquire about vehicle availability, schedule a test drive, and discuss financing options is best done through a phone call. These are prime examples of big-ticket items that generate incredibly valuable leads.
The significance of Pay Per Call becomes evident when examining the advertising expenditure of industries involved. We’re not talking about fidget spinners here, but rather multi-billion and trillion-dollar industries that heavily rely on Pay Per Call for lead generation. They understand that their offerings necessitate high-value leads due to the nature of the big-ticket items they sell. Consequently, these industries allocate substantial amounts of money towards advertising, emphasizing the critical role that call commerce plays. It’s no wonder that Pay Per Call has emerged as an exhilarating and promising development.
In today’s world, lead generation and advertising are ubiquitous. However, amidst this abundance, a phone call with a genuinely interested individual remains the pinnacle of value for businesses seeking new customers. This fundamental truth is unlikely to change any time soon. The worth of such phone calls will continue to rise, solidifying their status as invaluable assets for businesses aiming to thrive and succeed.
Ensuring Lasting Success: The Endurance and Potential of Pay Per Call
Pay Per Call is here to stay. The world’s most influential businesses are actively seeking more phone calls. What does this mean for you, whether you’re an affiliate aiming to generate a few calls per day or just entering this domain?
Simply put, Pay Per Call is not a fleeting trend. We’re not discussing some transient advertiser who may vanish in a matter of days. Instead, we’re referring to the colossal industries that crave phone calls and have no intention of disappearing overnight. These brands have made monumental investments, pouring billions, tens of billions, or even hundreds of billions of dollars into building their infrastructure, refining their sales processes, and establishing their businesses.
Consequently, when you choose to invest your time in Pay Per Call, as opposed to other affiliate campaigns or various forms of online marketing, the rewards are sustainable. I’ve witnessed Pay Per Call campaigns that endure for years without significant changes. They persist because for them to vanish, countless jobs would be lost, involving call centers and the multitude of individuals working in diverse verticals, each contributing to the process.
This is not your ordinary e-commerce product that experiences transient popularity. Pay Per Call possesses a steadfastness that allows you to build something of genuine value. In fact, you can even contemplate selling these businesses in the future, which sets it apart from typical affiliate marketing campaigns. With affiliate marketing, if you manage to make it work, you’re fortunate if it lasts for a short period before you must seek out another opportunity. It’s highly unlikely that you’ll create a business with saleable assets. However, in the realm of Pay Per Call, the possibilities are entirely different.
Unlocking the Value of Phone Calls: A Path to Profitability
Every business, including work-from-home ventures, should possess enterprise value to transcend mere cash generation. This is where the distinction lies between building a business and simply creating a personal income stream, as is often the case with affiliate marketing. Most individuals engaged in affiliate marketing struggle to sustain their ventures and rarely have the opportunity to sell their affiliate businesses. However, Pay Per Call presents an entirely different scenario, offering the potential to establish unlimited buyer networks and create tangible value. What makes this prospect even more exciting is the fact that there are numerous untapped verticals within the Pay Per Call space, representing a massive opportunity.
In reality, Pay Per Call is still in its early stages compared to other forms of online advertising. It was held back by the technological requirements that were not available in the past. However, you find yourself at the forefront of an emerging industry with boundless possibilities due to the relatively low number of people who have entered the space and set it up to its full potential.
Let’s delve into the average conversion values for various industries when it comes to phone calls. For instance, a restaurant can make an average of $33 per phone call, showcasing the potential value even at the lower end of the spectrum. Retail businesses can generate around $119 per call, while local services like plumbing, towing, and home services can yield approximately $170 per call. The tech sector, offering software and services to businesses, can bring in $265 per call on average. The travel industry, encompassing hotels, rental cars, airlines, and tour groups, boasts an average of $320 per call in a multi-trillion dollar market. Finance-related services, covering mortgages, debt consolidation, and consumer credit cards, can fetch a staggering $416 per call. Finally, the automotive industry, which includes auto insurance, purchasing, dealership calls, and repairs, can generate almost $1,200 in revenue per phone call. These figures demonstrate the significantly high value attributed to phone calls across a wide range of industries. Moreover, countless other industries not mentioned here also rely on phone calls somewhere within their value chain, highlighting the vast opportunity within this space.
Pay Per Call and the Role of Call Centers
Why is there such a massive opportunity in this field that remains largely untapped? Firstly, Pay Per Call is relatively new and required the development of specific technology, placing us at the forefront of this industry. Additionally, the backbone of this opportunity lies within call centers. Phone calls, by their nature, require human interaction, making call centers an essential component of the Pay Per Call ecosystem.
Let’s take a moment to examine the call center industry and its evolution over the past decade. Despite the rise of offshoring, onshore call centers in the United States have experienced significant growth, making it the fastest-growing call center market globally. This growth reflects the recognition by businesses that inbound phone calls hold the most value for their operations.
Between 2010 and 2015, the call center industry in the United States expanded by a remarkable 34.5%. Currently, there are approximately 15.8 million call center agents worldwide, each handling phone calls on a daily basis. In 2018 alone, hundreds of thousands of new call center jobs were created, driven by the increasing demand for call center agents to cater to the rising need for phone sales.
The global spending on call center operations reached a staggering $310 billion in 2015, with the industry projected to surpass 407 billion operating call centers by 2022. This substantial investment in expanding call center operations highlights the need for more phone calls. Call centers dedicate an estimated $68 billion annually to advertising efforts aimed at driving inbound telephone calls in the United States alone, resulting in over one trillion dollars in commerce. The call center space far surpasses the size of affiliate marketing, making the Pay Per Call space an unprecedented opportunity. This is precisely why we have invested millions of dollars in developing Ringba and why I am sharing this information with you. I hope to attract thousands of individuals who can contribute to building this industry, generate substantial profits, and ultimately trust Ringba with their call flow.
Call Centers: Challenges and Opportunities
The beauty of call centers, and the immense opportunity they present, goes beyond financial considerations. Call centers face numerous challenges, resembling intricate Rube Goldberg machines where issues abound. Whether it’s managing diverse personalities among the workforce, addressing low-wage labor concerns, or dealing with the unpredictability of call flow, call centers are beset with difficulties.
However, Pay Per Call technology has the potential to solve many of these problems and enable call centers to grow their businesses. Helping others build their businesses ultimately translates to financial success. That’s precisely what I am doing now – seeking like-minded individuals to join this space, collaborate in its development, and reap substantial rewards. The inherent unpredictability of call flow, combined with the challenge of managing labor effectively, poses a significant hurdle for call centers. Achieving peak efficiency, where 100% of salespeople are engaged in selling during every minute of their shifts, is almost impossible. Humans answer calls when they are interested, not necessarily when call centers want them to. This inherent unpredictability impacts call flow, making it difficult to align with labor management effectively.
By utilizing technology, we can address the unpredictability of call flow and create a sustainable business model for call centers. This presents a golden opportunity to fill the available capacity and generate a plethora of phone calls. Call centers are constantly grappling with agents leaving due to the outbound nature of their operations, resulting in an average attrition rate of 30-45%. The cost to replace an agent earning $12 per hour averages over $6,400.
The potential for profitability in the call center industry is immense. We can help call centers overcome their challenges, maximize their efficiency, and ultimately drive revenue. By partnering with call centers, we have the opportunity to capitalize on their untapped capacity, generating more phone calls and fostering mutual success. This represents the most significant opportunity in online advertising that I have witnessed throughout my career spanning over 15 years.
Comparing the Value: Pay Per Call vs. Outbound Dialing
In the realm of sales call centers, the challenges and costs associated with outbound dialing are significant. Training new agents, dealing with initial inefficiencies, and burning through costly phone calls all contribute to lost revenue. Moreover, the need to maintain agent satisfaction adds to the overall expenses. Outbound sales, characterized by calling consumers who are not interested or expecting such calls, often lead to agent burnout.
Cold calling is an arduous process that can diminish morale, even for highly skilled salespeople. It becomes especially disheartening for these talented individuals who should be closing qualified customer leads and generating revenue, instead of engaging in outbound calling.
In contrast, Pay Per Call offers a distinct advantage. First and foremost, Pay Per Call is 100% inbound. Inbound calls indicate that the person on the call is genuinely interested in the product or service being offered. This significantly reduces the risk compared to buying leads that may not convert and subsequently result in loss of sales agents. Skilled salespeople prefer engaging with incoming callers who have expressed interest, as selling to an interested individual is enjoyable and rewarding.
Another benefit of Pay Per Call is the absence of TCPA requirements. Outbound dialing entails strict regulations regarding calling hours and days, along with potential complaints from recipients who are on the do not call list. However, with inbound calls, the time of day or day of the week becomes irrelevant. Call centers can operate 24/7, 365 days a year without concerns about compliance. If someone on the do not call list initiates a call, there is no liability on the call center’s part. This aspect alone makes Pay Per Call an appealing prospect for call center owners.
Furthermore, Pay Per Call offers a predictable cost per acquisition, especially when scaled up. In outbound dialing, there is always uncertainty regarding the cost of acquiring customers from purchased data. This uncertainty can be financially daunting for business owners. In contrast, Pay Per Call eliminates list burnout, as inbound calls are consistently available. This reliable stream of interested callers simplifies operations and makes everyone’s lives easier.
Now, let’s explore the comparison between Pay Per Call and CPA affiliate marketing. For affiliate marketers engaged in various campaigns, Pay Per Call provides a more sustainable approach that cannot be easily replicated. In affiliate marketing, competitors often copy landing pages and ads, diluting the uniqueness of campaigns. This results in the need to constantly reinvent the business and find new campaigns to maintain profitability. In contrast, Pay Per Call campaigns require genuine interest from callers, which cannot be replicated with tricks or deceptive practices. Building a Pay Per Call business may require effort and technological integration, but it offers the potential for long-term success and scalability. Unlike affiliate marketing, Pay Per Call businesses can hold substantial value and may even be sold in the future.
It is worth noting that technology is a critical component of Pay Per Call. Utilizing platforms like Ringba is necessary for success. While it is possible to make some money without technology, building a truly scalable business without it is highly unlikely. Engaging in this space demands dedication and hard work, but the rewards are immensely satisfying, as it enables the creation of a valuable and lasting business.
The Pay Per Call opportunity is undeniable. The call center industry is expanding rapidly, presenting countless opportunities for growth. Inbound calls have lower attrition rates than outbound calls, making them highly desirable for call centers of all sizes. Leveraging the capacity of outbound call centers to convert them into inbound call centers is a strategic move, as inbound calls have higher conversion rates. Pay Per Call campaigns offer a level of protection by creating a moat around your business, preventing easy replication by competitors. The industry is fresh, similar to the state of display and affiliate advertising 15 years ago, which means there is ample room for first movers to seize the advantage. The opportunity is massive, with the potential for millions, tens of millions, or even hundreds of millions of dollars in this evolving space. Reading BIA/Kelsey’s Industry Watch on Call Commerce can provide further insights into the vast potential of Pay Per Call.