This article will explain how you can make money by using premium rate number services. The article gives tips on how to promote your services fast and start generating revenues quickly. Premium Rate number services have been used by service operators to offer specialized services to consumers and generate revenues. In the United Kingdom there are many service providers who offer premium rate number services and charge per minute for the services used. The service operators can charge £1.50 per minute for the services used.
Now let us try to understand how we can earn money from Premium Rate Number services. You need to decide on the kind of service that you want to offer to your customers. It can be anything from horoscopes to horse racing tips and from joke lines to adult recorded stories. The other services that can be offered to customers include technical support for hardware and software, virtual chat lines and many more.
It is important that you verify the contents of your services before offering , otherwise there is a chance that ICSTIS may initiate an investigation against you, if they feel your content violates any of the regulations that governs premium rate services.
Now the next question that we may have is what is the earning potential from premium rate services. The earning potential is substantial. You can earn £120 per day if you offer quality services. If you have a recorded story line which pays you £0.85 per day with an average holding time of 6.5 minutes you can make £5.5 per call. On an average if the service gets 30 calls per day the earning potential stands at £165.75. Annually the earning potential stands at £60000. This is by no means a small amount considering the time and effort that needs to be given to the business.
You can also make money from Premium Rate SMS service. The earning potential is even more in SMS services because once customer asks for a service, messages can be sent at intervals until there is a stop message received from the customer. If the services are charged at £0.60 per message and 6 messages are sent out to one customer then the earning potential stands at £3.60 per day per customer.
If you have a subscriber base of 30 customers the revenue generated can be £108 per day. Annually the revenue works out to approximately £39000. This may look less in comparison with the Premium Rate Call service statistics mentioned above but the popularity of messaging services can generate more revenues than call services.
You need to advertise your services effectively to build a successful Premium Rate Number business and print media has been the proven medium. The advertisements are costly but do give more return on the investments made. Websites are also proving to be an effective medium to advertise services.
They are cost effective and if you advertise your services in a high traffic website, chances are that you can make your Premium Rate services popular in a short time. A thorough market research is mandatory before you start Premium Rate Number services. Otherwise your business can die quickly like many others that have perished.