Have you ever thought about the fact that you can actually make money by receiving phone calls?
If you run any sort of remote consultation business and don’t make use of a premium phone line, you’re probably missing out on a pretty lucrative additional revenue stream.
At the same time, however, these could be expensive to install and tend to come with a good deal of red tape.
We recently found out about EagleDial, a Swedish tech company, that is challenging the traditional premium rate number industry, by introducing an innovative pay-per-minute call system that works for both phone and video calls.
Our interest piqued, we decided to take a look at the premium rate number industry as a whole and the way EagleDial is disrupting the existing market with their pay-per-minute system.
Premium rate numbers are numbers that charge extra to the person who made the call through their monthly phone bill or through credit on their mobile phone.
The costs tend to be more than for a normal phone call or text message. In 2009 the premium rate industry in the UK was estimated to be worth around £800 million.
Find out more by reading our Make Money from Premium Phone Lines article.
So, can anyone just apply for a premium rate line and make money off every call they receive?
There’s a common misconception that premium rate telephone numbers are reserved for sales lines and big companies, but this isn’t the case. Anyone can, in fact, set up a non-geographic telephone number.
But, you’d have to consider the impacts carefully.
While you may want to troll cold callers, it would just be cruel to make money off well-meaning friends and family who like to keep in touch.
Plus, would you really get a great return on your £10 setup fee investment if you only get one or two telemarketers calling you a week? Honestly, no.
Premium lines do, however, make sense for anyone who runs a business offering remote support in one way or another.
In other words, you could be making money off a premium rate line if you do set up any of the following services:
Sharing your knowledge
Whether you’re an IT specialist or an English teacher, you could be helping people from Kuala Lumpur to Lisbon from the comfort of your lounge in Leeds, using only your phone.
If you’re an expert in any field, you could also offer your support over the phone to those with similar interests or problems.
Common examples would be offering support to people with specific medical conditions or parents with children who suffer from certain learning disabilities.
If you run a company you can provide premium support to your most valued customers, or offer high priority support for paying customers.
On a more light-hearted note, people would even overlook the costs of calling a premium-rate line to get some good tips on certain hobbies, such as gardening, cooking or sewing.
Providing recorded information
This would normally be relevant for things like news headlines, weather updates and horoscopes. But, really, the options are limitless. Perhaps you live close to a great surf spot, so why not record a daily update that other keen wave riders can call in for and make an extra buck or two for trips of your own?
The only problem with all of these great ideas is the fact that landlines are quickly becoming irrelevant.
We live in an era where instant connections are possible at the click of a button on our mobile phones, where we can see our loved-ones faces while talking to them over video instead of just hearing their voices through an uncomfortable receiver against our ear.
This is why EagleDial has come up with their new pay-per-minute phone and video call solution disrupting the premium rate number industry.
“We think it should be quick and easy to get a pay-per-minute service line. We believe that the existing market offers an out-dated solution and we want to take it to the next level. Many people today have a work mobile or a cash card phone, making it difficult to reach them with premium rate services. This will change with EagleDial,” says Linda von Beetzen, CEO of EagleDial.
So, how exactly does it differ? Let’s take a look:
Voice and video calls
While traditional premium phone lines only offered customers the option of voice services, EagleDial has launched a cam-to-cam service for live video interactions.
This opens up the market to many more types of businesses and also improves others, such as language lessons.
Clients make calls from the EagleDial browser address (www.eagledial.com/nameofperson) either from a desktop or a mobile device.
This makes it possible for the seller to just add their EagleDial link address or button on website, blog or in a mobile app, allowing customers to get in touch with just a click of a button.
All calls are encrypted and private between buyer and seller.
This means, there’s no way your information will end up in the annoying hands of telemarketers and cold callers.
Compared to traditional premium rate numbers EagleDial is both cheaper and easier. This enables professionals who do consultations by phone or video to keep more of what they earn.
They also have no fixed fees and payouts are faster than their traditional counterparts.
The biggest difference, however, is that the call is not connected via the user´s telecom operator and will not be charged via user´s phone bill. The customer pays per minute by credit card instead and seller sets the price.
“We are proud to be the world’s first supplier offering pay-per-minute for audio and video calls with integrated pay solution, and a web-based solution,” concludes Von Beetzen.
EagleDial is currently available in 25 countries and accepts payments from anywhere in the world.
Visit the EagleDial website for more information.