Top Pay-Per-Call Verticals And Why They Matter
As the #1 rated Pay-Per-Call network, we at Aragon have made it a priority to provide our affiliates and advertisers with a clear path to ROI in mobile marketing, especially in Pay Per Call. Pay-Per-Call works across a wide range of verticals. Here are the top three verticals that have shown the strongest growth and deliver the highest returns.
According to U.S. Census Bureau and the Federal Reserve, American households owe an average of $8,161 in credit card debt, and collectively $1.03 trillion is owed to credit card companies. Consequently, the average credit score of US consumers is 695, a credit rating of “Fair.”
To remedy this, credit repair and debt consolidation have become go-to options for consumers looking to improve their credit scores.
- Credit Repair: About 77 million Americans or more than 34 percent of U.S adults have debt in collections. To combat credit card woes, many consumers are turning to credit repair companies for help. By using pay per call, eager customers are connected with waiting agents, ready to help out.
- Market Growth: The credit repair industry currently generates $4 billion in annual revenue and the market is set to grow by at least 2.75% by 2020 in accordance with rising household debt.
- Debt Consolidation: Like credit repair, debt consolidation offers to combine outstanding debts into one payment to raise a person’s credit rating. This helps consumers to avoid the confusion that comes from paying off multiple debtors to focus on rebuilding their credit. With pay per call, callers are put in contact with companies that can offer a way out of their predicament and ultimately simplify their lives.
- Market Growth: According to Morgan Stanley, there are about 200 digital lenders in the U.S. as of 2017 and this number is projected to grow even further by 2020.
Insurance is a huge industry, but it encompasses all facets of life to mitigate potential risk for individuals. To reduce costs, consumers are increasingly shopping online to find the right insurance package. Whether it’s health or auto insurance, the Internet offers consumers a variety of ways to find the best insurers. With the vast majority of insurance companies offering services online, there is a significant demand for the details of an insurance policy to be discussed over the phone, making pay per call vertical extremely lucrative for knowledgeable agents that provide the best service to customers.
- Health Insurance: Health insurance is a popular vertical for our clients, as growth rates are pretty steady, while regulations have loosened to encompass new providers in the industry.
- Market Growth: With more adults entering into their golden years, the rising prevalence of chronic disease, and rising incomes in the 3rd world, the health insurance industry experienced a 29% growth in 2017 ($6 billion). Furthermore, some projections have estimated a world-wide growth to reach $3 trillion by 2025.
- Medicare Insurance: Over 44 million individuals use Medicare in the United States. This includes individuals aged 65 and older, as well as younger individuals with disabilities. Those that qualify for Medicare have an urgent need to find the best insurance policy at the most affordable rates. As most of these individuals live on a fixed income, they seek to contact agents online or via pay per call to reduce costs and better manage their policies.
- Market Growth: 8.8 million Individuals signed up for Medicare in 2017, surpassing 2016’s record of 8.7 million. By 2020, Medicare Insurance is expected to rise by more than 7%, a significant increase from the previous decade.
- Life Insurance: With older generations looking to secure their wealth and provide for their families in the event of death, life insurance has seen an overwhelming global growth. This spans nearly every age group with 44% of individuals ages 18 to 29 to 65% of those age 65 and over having some form of life insurance. With Internet users projected to reach 6 billion by 2022, and the rising middle class in places like China and India, insurance businesses will only continue to grow, especially those offering online consultations via pay per call.
- Market Growth: According to the most recent stats, life insurance grew from $848.2 billion in 2015 to more than $850 billion in 2016, and it’s projected to grow faster in 2020.
- Auto Insurance: Auto insurance is not just important for getting car loans, it’s mandated in most states in the U.S. In fact, 49 states in America require every car owner or driver to have auto liability insurance — New Hampshire being the one exception. However, even in the Granite State, most auto lenders require borrowers to have some form of insurance before loans are issued. That being said, 32% of US consumers said they prefer to deal directly with agents or carriers to make insurance decisions.
- Market Growth: Auto insurance is a $259 billion industry (and it keeps growing), there are projections that the industry will undergo a radical shift due to new technology, which makes it a perfect opportunity for agile startups to step in and offer something different.
Due to time constraints or lack of skills, many homeowners are increasingly hiring home service providers to help with tasks such as roofing, painting, and other home improvements. The home service industry is growing at a tremendous pace, and it’s worth over $400 billion as of 2018.
- Water Damage: Water damage is a catch-all term for mitigating damage caused by burst pipes, overflowing water sources, lack of irrigation, natural disasters (like floods and excessive precipitation), and mold-related damage caused by water.
- Market Growth: Nearly 50% of surveyed home contractors stated that water damage was their primary reason for home visits.
- Locksmith: Locksmiths are always in demand and they make good money. When consumers damage their locks or get locked out of their homes for some reasons, one of the first people they call is locksmith.
- Market Growth: Locksmith industry was worth 7.5 billion in 2017. According to Statista, the locksmiths in the U.S. will generate revenue of more than $2.32 billion by 2022.
- TV/Internet: As television and Internet-based entertainment become more competitive and lucrative, consumers are taking to the Internet to shop for the best price and the best service. Despite fears only a few years ago that “cord-cutting” was a huge threat to the traditional TV industry, cable and satellite TV companies have been fighting back by providing innovative set-top boxes and low-cost companion products such as cell phone service.
- Pest Control: A seasonal vertical currently in its prime-time, Spring, pest control is a high-demand service requiring immediate resolution from callers.
- Market Growth: The US pest control industry is valued at $2.96 billion as of 2018 and will reach $5.8 billion by the end of 2025.
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As you may have noticed, digital advertising has come a long way. From the beginnings of obtrusive ads that used to clog the web pages, today’s advertisements are smarter. These modern advertisements take advantage of the most intuitive technology, running on several devices and allowing marketers to precisely target demographics with dynamic precision. These developments have created a treasure trove of opportunity for publishers and advertisers looking to increase their revenue streams. With Pay Per Call, active buyers are instantly routed to your phone without the overhead and uncertainty of prospecting.
Want proof? Consider the following:
- Studies have shown that most people spend at least three hours a day on their mobile devices. Whether it’s checking and updating social media pages, writing emails, or surfing the internet, mobile devices such as tablets and smartphones are increasingly the preferred devices for accessing the web. Nevertheless, when customers are ready to buy, a study by Google confirms that 70% of consumers use click-to-call to finalize their decision-making.
- As of 2018,62% percent of consumers use mobile devices to research products and services before making purchases —and this trend is expected to grow.
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