Did you know that your competitors are getting “FREE” Calls on your dime! ( http://ping.fm/wWf1c )
Yellow Pages companies offer credit limits (as high as $10,000.00 per year) to advertise in Yellow Pages to anyone that has a “business phone line”, this also works great for businesses who want a phone book ad and have no intention on paying the bill. It is becoming a serious issue for the companies……. This is something that has always bugged me. What choice do they have? Pull every single book off the street when someone stops paying the bill? If you offer call tracking, why not monetize every reference to your product? Why offer leads to anyone that has a business phone number? Eventually the industry needs to start regulating fraud and monetizing references for the sake of the future of the product. We will see when Wall Street get access to corporate earnings how big of a challenge this is for the Yellow Pages companies. Can’t wait to see earnings reports!
I just don’t understand how a company can consistently, from canvass to canvass, lose a significant amount of clients (seen it with my own eyes) and continue to survive with the current business model. Non-Transparent pricing. Rate hikes for absolutely no legitimate reason. Errors and omissions. Rampant Sales Fraud. Unethical behavior when working with your competitors and sharing company information. Almost a culture of corruption for the sake of Corporate Earnings and to please Wall Street Investors. Thankfully the new folks in charge are attempting to fix the reputation of the industry. Too bad they can’t fix the problem that competition has created for an industry that lacks innovation.
At least investors finally got smart and put the stock value of the companies where it should be……….. considering all the things stacked up against the Yellow Pages industry.
But what do I know? I’ve spent 10 years in the industry. What do you do when you are asked to promote a product that has a lesser chance of working due to Double Double Double truck ads, Forced Tabs, and everything else they can sell to ruin your ROI and make a buck for themselves?