Smart Numbers Can Increase the Value of Your Business
by Business 1300, on 18/08/15 12:32 PM
Create an Asset With a Smart Number
Smart numbers get remembered. And the more customers remember your business number, the more calls get generated, and that is valuable. A perfect example is 13 CABS. The number is probably as valuable as the taxi business itself, after all 13 TAXI sold for over $1,000,000 back in 2004, and that’s just the number itself.
Of course, these are exceptional examples, but the principle remains. Get a memorable number for your business and there is little doubt that if promoted properly, it will increase the value of the business and generate more inbound calls, both from marketing activities as well as referrals and repeat business.
Smart numbers are memorable 1300 numbers and 1800 numbers. They can either be phone names, phone words or just easy to remember number sequences. Not only are they an excellent marketing tool and will increase your response rates, they will also tend to stick in customers’ minds for next time they need to call or pass onto their friends and family. And that is valuable.
Create an Asset for Your Business
In order to create an asset you must actually purchase the smart number and own the ROU (rights of use). This is important as the ROU holder is ultimately the owner of the number. When leasing a number you never actually own the rights of use and any value of the marketing investment remains with the company that owns the ROU.
Once you own the ROU, it can be sold or traded. When selling a business, it usually forms part of the sale and depending on how memorable it is and how extensively it has been promoted, it will increase the value of the business.
Of course, smart numbers are only part of the equation, and the value of the business depends on a number of factors. But having a business number that customers remember and don’t have to look up will certainly add to its value.