The Psychic Market

The UK psychic market has exploded into a ferocious fireball over the past 5 years, especially online, despite the very negative portrayal of psychisim and mediumship in the press (the spiritually uneducated) and the blinkered, ill informed attitude in the forums – interest, use and growth of the genre doggedly persists.

Times are a changing and in the Western world, we are going through an interesting transition in what people think of psychics and mediums. A new generation is moving on from the old ideas of gypsy fortune tellers and mystics. With this new wave, there also needs to be much better understanding of what it is to be psychic and how the work of the psychic is changing.

If we look at the first page in the Google search engine for example, the term ‘psychic reading’ shows the commercial brands who use the cost per click or sponsored search advertising space appearing at the top and down the right hand side of the screen, for this to happen the company will have bought the position according to the budget placed when a consumer clicks to view the brands offering.

5 years ago the cost for a single potential client click was 70p on the main key phrase to gain a fairly high position – the cost is now £2.70, other markets such as Ireland and Australia have followed similar trends due to the product life cycle and the increase in competition of the market-place.

There are also the organic search results, these listing appear below the sponsored search area but can still be highly lucrative when they appear on the first page of a major search engine, typically these are brands and independents who do not use the Google AdWords offering, but instead use an SEO strategy – this is the technique employed by web site owners to make their web site more search engine friendly. When a site is optimized for the search engines properly it will receive traffic from the major search engines like Google and others at no additional cost per visitor.

Due to the increasing cost to gain a client, many of the smaller psychic brands which had no knowledge of SEO, have suffered market shake out, whilst those who have been able to turn their hands to an SEO strategy have managed to remain, with a much smaller acquisition cost per customer. The brands remaining in the cost per click space are typically larger outfits including telecoms companies and those with traditional marketing budgets where the objective is primarily return on investment.

To give you an idea of the sheer magnitude, page 84 of Google still provides a page of results for the popular term ‘psychic reading’ – albeit mainly psychic blogs, but there are still some brands trading just before this with a commercial offering.