Toll Free Numbers Can Be Valued Similarly to Domain Names

In 1991, the FTC ordered that toll free numbers become ‘portable’; meaning owners of 1-800 numbers were no longer tethered to their telecom companies that owned the copper running into the buildings. It allowed for the rise of owning “Vanity Toll Free Numbers” such as 1-800-Flowers (a publicly traded company with over $919 million in sales last year) to those selling vanity numbers like 1800-Yellow-Pages (for a reported $10 million). And while most small business owners won’t gain such valuations, the mnemonic value of having a 1800-Business number can’t be denied. In California alone, insurance companies with inferior (IMHO) marketing content (no offense 1800-General, really) have built very successful marketing programs with easy-to-remember toll free numbers.

Currently there are 800, 866, 888, and 877 toll free numbers available, but one does consistently hear Ryan Seacrest on American Idol repeat the call-in vote numbers as “866, not 800 numbers.” I wonder what call statistics they saw in people who saw an 866 number on the screens and instead still dialed the 800 numbers? This is not to say that toll free numbers that are not 1800 are not valuable, but it is a realistic element to consider when deciding which numbers to purchase. Any discussion about valuing toll free numbers and not mentioning this reality of current consumer behavior would not be comprehensive or honest. BTW, the previous link is from a private citizen who posted a web-page that lists the season’s 866 numbers for dial-in voting – and it outranks AmericanIdol.com’s own website for anyone searching online. You’ve got to love the Internet.

And how competitive is the market for toll free numbers? Chances are, the toll free number of any variety (1800 or otherwise) + your business name, is not available. This hasn’t stopped a lot of other creative marketers from getting toll free numbers that are constructed as:

866+Product-Name (1866-Widget-2000)
800-Call-to-Action (1800-Cash4Gold)

There is a solution to not getting the 1800 number, however, in that studies show an increasing amount of consumers ‘Googling’ toll free numbers in order to find more information about the company or services before calling. This gives owners of non-1800 toll free numbers a chance to display low-cost ads through Adwords that redirect those visitors to your specific website – with the correct number displayed. Better yet, place that number right in the ad copy – a percentage of people will call without clicking the ad – saving you the click-fee. Sorry Google, I still love your technology and your wonderful, wonderful cafeteria. Please invite me back.

Photo by justinbaeder