Call marketplace is another term used to describe the pay-per-call marketplace, the system through which individuals and groups buy and sell leads. Purchasing leads through the call marketplace offers many advantages to buyers. By outsourcing lead generation, they give their teams more time to focus on sales and customer service.
Importance of Lead Generation
Companies are in business to sell goods and services, and this requires customers. Customers seek out businesses when they need something. They go to the grocery store when they need food. They hire a plumber when they need a pipe unclogged. They check out the inventory on a car lot when they need to buy a new vehicle. Who they turn to in their time of need depends on several factors, and name recognition is one of them.
For some businesses, lead generation means identifying customers who are ready to complete a sale at that moment. These may be browsing online looking for a local company that offers a product or service they need. The first company that responds with a reasonable offer usually gets the business. Others see lead generation as the first step in a customer-company relationship. They invest time sharing information and promoting their brands so that the customer turns to them when it’s time to buy.
Understanding How the Call Marketplace Works
A call marketplace transaction starts when a seller creates and distributes an online or print advertisement. These advertisements may appear on websites, search engine results pages or in a print form like a billboard or postcard. The advertisement directs viewers to call a phone number. Many publishers use a different phone number on each advertisement so they can track the origination of each call.
When potential customers call the phone number listed in the ad they go through a pre-screening process to gauge their actual interest in the product or service. This may be through an interactive voice response system where they respond to voice prompts by pressing numbers or in a call center where they speak to a person. The advertiser then receives a list of qualified leads—callers with a genuine interest in the product or service who ideally are ready to make a purchase.
Who Uses the Call Marketplace
The call marketplace has three types of users. Those who produce content and generate leads may be called publishers, advertisers, marketers or lead generators. They create and publish advertisements to generate leads which they then sell to buyers. Buyers purchase the names and contact information of qualified leads interested in the products or services they offer. Leads are potential customers who respond to an advertisement and go through a screening process to determine their level of interest.
Measuring Success in the Call Marketplace
Both buyers and sellers in the call marketplace rely on data to make decisions about pay-per-call campaigns. Buyers establish criteria that defines what qualifies as a lead for their companies. They may look at metrics like the length of the telephone call, demographics and conversion rates. Sellers track the marketing channels that bring in the greatest number of qualified leads as well as success indicators like:
- Time spent on site
- Length of phone call
- Page views
- Number of calls
- Call source
- Call location
Publishers typically use software to monitor and manage their call marketplace campaigns. These customer relationship management programs provide an assortment of tools, including interactive voice response, dynamic call distribution, data integration and analysis. Some of the top features of these tools include the following:
- Automated lead qualification
- Call routing
- Call tracking
- Data importing and exporting
- Detailed reports
- Trackable phone numbers
Publishers can leverage these features with a full-service platform designed to manage and monitor pay-per-call campaigns. A platform makes it easier to transfer calls, gather data and analyze all available information to create successful campaigns for buyers and sellers.
Benefits of Using the Call Marketplace
The call marketplace offers several benefits to buyers and sellers. One of the greatest benefits to buyers is time saving. Instead of spending their time generating and qualifying leads, the buyer’s sales team can focus on what they were hired to do: complete sales. This leads to improved conversion rates, ROI numbers and (ideally) profits.
When publishers run well-managed campaigns and take advantage of the information available to them, they also save time. They can identify which marketing channels produce the best leads for different industries and companies. This lets them concentrate their resources on the most effective strategies. As the quality of their campaigns increases, so does their reputation among buyers who want the best possible, qualified leads.
Leads benefit indirectly from the call marketplace. As publishers are able to refine their campaigns to target specific audiences, they are able to avoid placing ads in front of people who likely have no interest in the product or service. This creates a more favorable environment for leads who are less likely to feel spammed when they’re browsing online.