Saturday, August 23, 2014

Pay Per Call Advertising – Best Practices Part 3

Pay Per Call Advertising, Pay Per Call TV, Pay Per Call Radio and good old fashioned Per Inquiry (PI)  is the new buzz in direct marketing. That’s because marketers want live calls with live agents who are trained to close deals. Pay Per Call Advertising is all about higher conversions, lower CPA’s and more revenue or monetization.

In Pay Per Call Advertising – Best Practices Part 1, we focused on an issue that many marketers do not understand as far as call handling. Namely the ability to answer calls 24/7. One of our best clients (who already answers calls 24/7) is now upgrading their in house call center hours to 24/7. This is what we call at the DRTV Media Blog a best practice!

In Pay Per Call Advertising – Best Practices Part 2, we outlined some of the key issues in working up a successful Pay Per Call campaign such as Lead Definition, Lead Cost and Cost Per Acquisition.

Today, let’s talk about Lead Definition in more detail.

Our best offer uses a call duration of 60 seconds, but the payout is higher than many of their competitors. At my agency, we have over 700 participating TV and Radio Media Outlets, and I can tell you that they are all looking for high payouts. Remember, TV Media is limited, your commercial has the same amount of time as any of the mega marketers, and the leads are the highest quality leads you can find.

Here are typical call length buffers:

-          Connected call

o   Even here a 5 second buffer is recommended to allow for call routing

o   These calls have low payouts and lots of wrong numbers and butt dials

-          :15 second buffer

o   These calls also command lower payouts, but there is enough time to filter most wrong numbers.

-          :30 second buffer

o   This is the most common filter and Pay Per Call duration definition.

o   The marketer has enough time to filter and ask 1-2 qualifying questions.

-          :60 second buffer

o   This buffer allows the marketer to ask up to 3 qualifying questions and should be sufficient for most offers.

o   The media outlets expect higher payouts and gravitate to these offers.

-          :120 second buffer

o   These offers must have high payout to be profitable for the media outlets. We have recently dropped san offer with this call durations and a low payout. Not enough conversions.

Remember, the TV & Radio Media Outlets are your partners. They give you free airtime on “spec” and send you live calls.
Thanks to all of my readers. I love the Direct Response TV and Radio business and enjoy sharing my 22 years of experience in Direct Marketing, DRTV and DR Radio with you.

Saturday, July 12, 2014

Pay Per Call Advertising – Best Practices Part 2

Pay Per Call Advertising, Pay Per Call TV Advertising and Pay Per Call Radio Advertising works better in the 21st century than in the late 90’s because of the widespread use of mobile phones and new telephone technology. Now a radio listener can punch in the toll free number while driving and talk or perhaps call later with the toll free number stored in the telephone memory. A 2014 TV viewer has their mobile phone in their grasp at all times ready to be sold on your services or call for a needed financial service. There is nothing like #PAYPERCALL advertising to generate live qualified leads for your offer, service or product.

In this installment of Pay Per Call Advertising – Best Practices, I want to address lead definition, lead cost, and the ultimate metric for the marketer – CPA or Cost Per Acquisition.

Lead Definition: Call duration is the best method to maintain lead quality. TV leads @PAYPERCALLTV are usually the highest quality followed by Radio leads. A call definition of :30 seconds should be enough to determine if you have a qualified caller. At our agency our two top offers use a :30 second buffer 24/7 and a :60 second buffer 24/7. The longer the buffer, the higher qualified the lead and the higher the cost.

Lead Cost: You get what you pay for. Low cost usually means low quality. Another agency we know who sells only social media leads bragged about the low cost of their leads. We know from the end marketer that those leads are some of the lowest quality. In many cases the callers have not been screened through an IVR which means that many of the calls are “butt dials” or not qualified in any way. A TV or Radio exclusive lead is the highest quality lead. One of our best clients uses a :30 second buffer and another client uses a :60 second buffer. The :60 second calls are worth more than double.

Cost Per Acquisition (CPA): CPA is the bottom line. What did you pay for the lead and how many converted to a customer or client? What was the cost of the conversion? What resources had to go into closing the deal? You must crunch the numbers to determine the best leads with the highest conversions and the highest revenue per customer.

Thanks to all of my readers. I love the Direct Response TV and Radio business and enjoy sharing my 22 years of experience in Direct Marketing, DRTV and DR Radio.

Sunday, June 29, 2014

Pay Per Call Advertising - Best Practices Part 1

Pay Per Call Advertising, Pay Per Call TV Advertising and Pay Per Call Radio Advertising trumps pay per click in the modern era because these leads are live. Landing page leads present problems with follow up, response and conversions. That's just the way it is nowadays. There is a lot of competition in each vertical and many alternatives for the consumer. The highest quality lead is an exclusive TV lead and Radio leads are the second highest quality.

At the DRTV Media blog, we strive to educate and inform our readers with the latest techniques and best practices for Direct Response TV and Direct Response Radio. At our Direct Response TV-Radio Media Agency, we coach, consult and grow our client's businesses every day with our vast experience and best practices. The bottom line - your lead cost must convert into your allowable or cost per acquisition (CPA) model.

Today we will talk about call routing and the need for 24/7 live agents. You see...for a media outlet (TV station/Radio station) to run your commercials on spec (pay only for calls), they need to believe that they are maximizing revenue for their unsold inventory. If you only pay for calls during regular business hours then you are leaving calls (money) on the table. We recommend that your call center hours run from 7AM ET to 11PM ET to be open long enough to serve Mountain and Pacific time zone viewers and listeners. Or simply reverse it if you are located in the western time zones. (6A PT-8P PT). Recently we cancelled a campaign due to too many dropped calls after 8PM ET. That's 5PM PT! A payday loan lead needs a job, so they are likely to call in the evening. Student loan leads, too! We also recommend that your overflow calls and after hours calls also get answered by live agents. There are many alternatives including overseas call centers - but hardly anyone leaves voice mail, so those after hours calls amount to lost revenue.

Thank you to all of my readers, please subscribe and check back here often because we will be covering other best practices in subsequent post.

Saturday, June 7, 2014

Pay Per Call TV-Radio Advertising

Pay Per Call TV and Radio advertising is the most accountable, precise and trackable performance based methodology.  At my agency, we have built out numerous clients with pay per call offers. These savvy marketers understand that a live telephone call from an exclusive, branded TV or Radio offer is the highest quality lead available.

Here are six tips for Pay Per Call TV and Radio campaigns:

1.    Test your offer with cash buys to determine the highest profitable pay per call payout. The smartest marketers understand that the media outlets will make more airtime available if the payout is healthy.

2.     Provide your DRTV and DR Radio agency top quality creative or have your agency make top quality creative. There is a lot of clutter, and your advertising must look good.

3.     Provide :60 second; :30 second and even :15second spots to take advantage of all available inventory.

4.     Use a :30 second to :60 second qualifying duration to filter prank calls and wrong numbers.

5.      rain your call center agents to ask two qualifying questions, so that you do not pay for junk calls.

6.     Make your offer available 24/7 – 365 days a year. Of course, your live agents will convert best, but a top DRTV Agency can help you with a good call center to take overflow, afterhours and holiday calls.

If your offer makes the telephone ring, you can roll out nationally on local TV, national TV, local radio and national radio and just pay for qualified calls.

Saturday, January 18, 2014

Short Form DRTV Media Buyer - Pay Per Spot

Well it is 2014, another New Year, and you better take a close look at the current state of short form DRTV media buying. Ask yourself three questions:

-          Is my Cost Per Lead going up?

-          Are my media buys clearing?

Nowadays, savvy marketers test DRTV Media Agencies as well as new offers. Is your Media Buyer a pit bull? If not, some A/B testing may be in order – of short form media buying agencies that is.

We often blog about Pay Per Call as the new, 21st century pay per click. But good old fashioned, hard-nosed, tough, strict remnant media buying can yield even better results and lower your cost per order. The difference in approaches relies on which entity is taking the risk – marketer or agency?

You see some agencies offer both approaches and some marketers use both approaches. But your media buyer must adhere to your allowable, and find holes in the DRTV Remnant Media inventory available at any given time. This takes skill and, most important, extra time. Is your present media buyer giving your buys lots of time, research, thought and ever improving results?

Thanks for reading and following.