Basically, a business’s smart number is made up of the letters on a telephone keypad that coincide with those numbers and typically comprise the business’s name, product or service. Prefixes like 1300 and 1800 are the most common for smart numbers. Studies show that in Australia, smart numbers can generate five times more calls compared to a regular number, proving to be an effective marketing strategy as customers can easily retain them in memory.
Businesses and individuals can acquire smart numbers by purchasing them at auctions or by dealing directly with a carrier. Upon purchase, the buyer or the winning bidder does not become the owner of the number but only holds an enhanced right to use the smart number. After the contract expires, the buyer could then renew the contract.