10p a minute is £6 an hour or $7.83 USD, slightly more than US minimum wage which I see as being a fair starting point.
Let's say an employee earns $50/hour. And a SaaS has identified that employee as being a decision maker on their service. And let's say my current CAC ie $10,000 and the lifetime value of the service is 25k. And let's say that the SaaS closes 1 out of every 5 people that sees the demo.
Wouldnt there be appetite for the SaaS to offer 5 potential decision makers $500 each to participate in a demo? And another $1000 to the DMs company? The CAC decreases by 25% and the spend goes to the people and companies most participating in the process as opposed to tools like Marketo, and spend, etc.
Anyway, I think the guy here has hit on something but not at a high enough price.
But if you start paying people, then a lot of people who have zero interest will participate just to pocket the money. Your close rate will go way way down.
well probably you will alter your thinking based on feedback, but maybe not!
at least do what doctor do and book them expensive vacation at exclusive venues where you coincidentally are pitching your company product.
If this isn't used widely, it's a diabolical strategy. "Hey can I give you $5 for some of your time, I have a product I really believe in and would like to tell you about it." It not only creates an expectation of reciprocity, but creates a sort of cognitive dissonance (salesmen are usually asking for money, not giving it) which is an event that is known to make people more susceptible to influence... there's probably so many reasons why this could be a viable strategy in some cases.
I also don’t want my doctors office to call me to remind me of a reservation I already got reminded by SMS and email, and would have received a fax if they knew I could receive them.
I strongly agree inbound call should have way higher cost for the caller, except for very special cases like emergency services and administrations. I’ll pay to call my family, it’s important enough to me. I’m already paying for support and other service lines anyway.
>so to call him now costs 10p, from which he receives 7p.
10p/min sounds nice, but 7p * 60 minutes = 4.2GBP
edit: here it is: https://www.arneswinnen.net/2016/07/how-i-could-steal-money-...
Then again, I still receive alot of paper spam in my physical mailbox and humans paid full time to sell me stuff still call where the call cost is not the main cost, so it wouldn't solve very much and would be hard to organize practically.
Look at the actual numbers, and it’s not nearly as significant as the bulk would suggest. https://about.usps.com/who-we-are/financials/revenue-pieces-...
When I signed up for Informed Delivery, I had to show id at a USPS office. Seems like fairly strong authentication when compared to any other web or mail service.
Forbes' assessment is the effective value is $18 billion.
There's no routing and sorting they have to do. The carrier just picks up a stack of letters at the start of the shift, and drops one in every mailbox.
The labor cost that the USPS has to put in for a mass mailing is a fraction of what it has to do for normal mailing.
It's market segmentation, full price service for those willing to pay it, and a cheaper option for business without enough margins to justify that.
This means that mass-mailers are being subsidized by the USPS’ implementation of this goal of nationwide first-class mail, because presumably they are paying less than the actual cost of mailing their advertisements. I suppose we could go a step further, and say that high-density customers are in fact subsidizing mass-mailers, which I think most people would agree is not a reasonable subsidy.
The company can give you option to absorb the cost by yourself instead of charging caller. Math wise, if cost to accept legitimate call is 3 cents and if you get 20 such calls a month then its less than a dollar for you each month.
I'd be pretty surprised if their lawyers would let them discuss this scheme without emphasizing that.
They always have a well known prefix, in the us its 1-900, in the uk its 0871.
There is a lot of variety https://en.wikipedia.org/wiki/Premium-rate_telephone_number
I would have expected the calls to fall down to 0. I am amazed that at-least some cold callers don't mind paying the money. Their profit-margins must be high! Is the data on the profit margins of cold callers publicly available somewhere?
The former probably won't figure it out until after, the latter probably has a percentage dropoff based on how fast their accounting department notices (assuming it's not lost in the noise of being a truly enormous company).
Also, you can opt out. Just ask them to stop recording. If they don't, hang up. But most companies will stop recording when asked.
It also motivates customers to behave in a civil manner because they know they are being recorded.
I'd imagine a lot of companies have wised up and won't call 0871 numbers.
Interestingly he mentioned he puts his 0871 number as his contact number for banks/energy bills etc so if they contact him about something he gets money for it.
Plus at the time that was written, it was pre-GDPR so you’d often find your number getting sold on if you weren’t extremely careful when signing up to even non-free services.
Since I registered there (one man company) I have received countless calls and mail. Most calls are trying to scam me into a more expensive energy contract.
It has not calmed down in the last year at all.
Yes they totally are. The whole point of them is to make money from callers. Exactly what else were they designed for?
Premium rate numbers are used by some of the most scammy businesses out there, the regulators don’t seem to mind taking their money.
>Consumers usually receive a message telling them to call a phone number with an 809, 284, 649, or 876 area code in order to collect a prize, find out information about a sick relative, etc. The caller assumes the number is a typical three-digit U.S. area code; however, the caller is actually connected to a phone number outside the United States, often in Canada or the Caribbean, and charged international call rates.
>The 876 area code has been linked to a form of telephone fraud known as the "one ring scam". The person perpetuating the scam calls the victim via a robodialer or similar means, sometimes at odd hours of the night, then hangs up when the phone is answered with the hope that they will be curious enough to call the number back. When the victim does this, an automatic $19.95 international call fee is charged to their account, as well as $9/min thereafter. Similar scams have been linked to Grenada (area code 473), Antigua (268), the Dominican Republic (809, 829, and 849), and the British Virgin Islands (284). 
However, I would expect most businesses to have their phone systems set up not to connect to numbers outside the US. It's not terribly difficult to get your phone company to disable international calls, and it's a good idea, unless you're actually calling internationally on purpose.
If it’s an important call, they will leave me a voicemail or call my wife.
If you mean is there an equivalent to a calling-party-pays, premium-rate number, it is +1-900 or +1-area code-976 numbers. I am all but certain that zero businesses or spammers will call it even if you ask them and they’re virtually useless these days because VoIP and mobile carriers don’t generally support making calls to them. The only lines that still work for calling them are regular, regulated, post-paid billing POTS lines.
Added: I also just looked and apparently both AT&T and Verizon no longer bill customers for premium-rate charges (pass-through billing) so there are even fewer lines that still support calling those numbers.
I suppose if I had a 900 number and used that in place of my real number on all the signups (e.g. safeway club), who I know sales their info whatever they claim, that would be funny. I wonder how many of these spam services blacklist 900 numbers?
I have better things to do with my time.
Edit: hour? I meant to write minute. Vagued out I guess.
I wouldn't expect the quality of the free roses to be very good though.
Amazing Robotic Ween Music Video Version:
Great Live Phish Version:
ROSES ARE FREE
Take a piece of tinsel and put it on the tree
Cut a slab of melon and pretend that you still love me
Carve out a pumpkin and rely on your destiny
Get in your car and cruise the land of the brave and the free
But don't forget to understand exactly what you put on the tree
Don't believe the florist when he tells you that the roses are free
Take a wrinkled raisin, and do with it what you will
Push it into third if you know you're gonna climb a hill
Eat plenty of lasagna 'til you know that you've had your fill
Resist all the urges that make you wanna go out and kill
Throw that pumpkin at the tree
Unless you think that pumpkin holds your destiny
Cast it off into the sea
Bake that pie and eat it with me
Come on, that's the least effective use of anyone's time I've ever heard of.
I wrote an entirely wrong word spelled entirely correctly.
Wikipedia has this to say about typos:
A typographical error (often shortened to typo), also called misprint, is a mistake (such as a spelling mistake) made in the typing of printed (or electronic) material. Historically, this referred to mistakes in manual type-setting (typography). The term includes errors due to mechanical failure or slips of the hand or finger, but excludes errors of ignorance, such as spelling errors, or the flip-flopping of words such as "than" and "then". Before the arrival of printing, the "copyist's mistake" or "scribal error" was the equivalent for manuscripts. Most typos involve simple duplication, omission, transposition, or substitution of a small number of characters. (emphasis mine)
Hmmm. Definitely spending way too much energy here.
Your quote mentions "scribal error". Your spelling part of the brain knew what it wanted to write. The writing part inserted a different word. Now my lack of knowledge of brain parts is an error of ignorance, so 'spelling part of the brain' isn't a typo.
More importantly, he probably has a vastly different opportunity cost than you. If all he was doing was watching the TV, why not make a little extra money for no additional effort?
I did this for email. Get in touch if you want to try it.
I'm now working on doing this for the browser.
> I did this for email. Get in touch if you want to try it.
How? Via email?
I'm not going to implement your proof-of-work scheme just to email you.
Nobody else is, either.