Facebook Inc (FB) and Google (GOOGL) Eye Click-To-Call Market, A $4 Billion Opportunity
Facebook Inc (NASDAQ:FB) and Google Inc (NASDAQ:GOOG)(NASDAQ:GOOGL) are actively looking for new growth opportunities and one area they are training their eyes on is the so-called click-to-call market. This is where customers get the opportunity to initiate phone conversations with businesses within a mobile app. Click-to-call, which is a way to supplement clicks, is estimated to be a more than $4 billion business opportunity.
Researchers have figured out that customers spend more time in phone conversations when they call a business than they do when they visit the website of the business. This explains why marketers are pushing the boundaries of mobile marketing with click-to-call, and the likes of Facebook and Google are there to make it happen, but also for their own benefit.
Facebook fronts Hello for business calls
Both Facebook Inc (NASDAQ:FB) and Google are reforming their mobile advertising focus with the ultimate goal being to generate more revenue on that front. Facebook has come up with the Hello app, which digs into Facebook pages and collects business phone numbers that are automatically added to the dialer app. What Facebook hopes to achieve is that people will have a much easier time trying to call a business. Instead of turning to Google to do a search for a business, Hello users can conveniently look into their dialer and push the button just like that.
Then of course, there is the revenue narrative. For businesses that want to feature more prominently on Hello, for instance, Facebook Inc (NASDAQ:FB) may just ask them to pay for more enhanced ranking. Google is also sharpening its mobile edge so that marketers can have a better way to reach prospective customers.
What Facebook Inc (NASDAQ:FB) and Google have realized is that businesses can no longer rely on clicks alone at this time of information overload, hence the introduction of click-to-call. According to a survey carried out by analytics company Invoca, 54% of calls that people make to businesses are triggered by mobile ad, and 61% of mobile searches culminate in phone calls to businesses.
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