September 30, 2015 at 14:00 #17050
Nick Salmon Managing Director of EYEAdmin
Compared to newspaper and magazine advertising the main property portals provide excellent value for money and agents should stop moaning about the charges. Discuss 😉September 30, 2015 at 16:22 #17070
Purely in terms of cost per property per month/day/second – then yes it offers ‘better value’.
But it’s far from just about spend. It’s about RoI – and that is where the “discussion” starts getting interesting…October 1, 2015 at 08:42 #17156
Portals offer a different element of marketing to newspapers so in reality it is often difficult to judge the two alongside each other.
Portals provide a ‘classified’ style environment where really in truth a property looks the same whether it is marketed by an Agent with 10 properties on their books or 1,000 properties on their books.
Portals follow the age old adage of the ‘reader seeks the ad’ ie people know what they are looking for and go off to find it. Portals offer a convenient route to a wide choice of properties – hence why they are successful.
As has already been commented on another thread though. The achilles heel for portals is that without stock they won’t get the audience. As big a brand that Rightmove is without the stock it wouldn’t have an audience.
Newspapers offer a different form of marketing that relates more to ‘winning the instruction’ and brand awareness. They fall into that spectrum of advertising options that helps to get the phone to ring in the same way that retailers or motor dealers need footfall in their shops/showrooms.
Having said that many a buyer journey has started with a property advertised in a newspaper that then turns into an online enquiry (either the Agents own website or a portal) because the buyer has sought more information there having been attracted by something in a newspaper advert.October 1, 2015 at 10:32 #17159
I don’t think it is necessarily the charges we complain about, it is the huge profit margins we have issues with.
It would also be down to the amount of stock you are taking on, if you are on 1-2 a week then yes, they would work out very expensive. 5+ a week and they aren’t so bad.
There aren’t many companies that can boast a 74% profit margin, and that’s the kick in the teethOctober 1, 2015 at 10:57 #17164
Reply to M Barnard (the reply function doesn’t link replies)
The winky smiley suggests Nick is well aware of the benefits of print advertising, the subliminal presence and reinforcement of local print advertising is there and inescapable.
Readers looking at their name in around the courts, their picture in the sports sections, those looking for love, household items, jobs, cars anything that people are buying papers to read (big hint on consumers perceived value of the two) are subjected to passive advertising. It isn’t possible to stumble across a portal advert, their is no subliminal presence and certainly no agent focus to advertising.
The Digital folk have got it wrong, they do not understand the subject!
October 1, 2015 at 11:29 #17168
- This reply was modified 2 years, 8 months ago by Robert May.
Robert. How many people now read the local papers you are so positive about? And there is lots of subliminat if you take out the various bits of area spnsorship that some of us think is very worthwhile.
I agree with the points above, the price itself isnt that big in reality, the quality of leads we get is far superiod than those of years ago, the consumer now does so much research before they come to us.
Its the margin that rightmove makes that sticks in the throat. I just try and ignore it, and whilst I believe they bring me value, or ROI, I will continue to use it.October 1, 2015 at 11:45 #17177
Don’t make the game about how many, that is the red herring the digital folks use to confuzzle the issue. The discussion is about who and what and when.
Instructions are not coming from the digital savvy yoof they come from people who still read newspapers.
The numbers game is ‘Kings new clothes’; as soon as it is pointed out the claimed 1.3 billion uniques are not buying 1.billion properties each year the numbers game falls apart.
I have to say I would far rather have the OTM viewership of a portal than that of either Rightmove or Zoopla.
I am hand tied not to explain why, it promotes what I am doing but digital advertising is maturing beyond the generation 3 status quo of portals.October 1, 2015 at 12:07 #17179
As a small family independent, it’s the cost that we despise. We don’t list very much at all, and some months we list nothing. It’s very expensive for us. At least with paper publications, if we don’t advertise we don’t pay.
It was purely for reasons of cost that we fully supported Agents’ Mutual from the outset. However they have, very disappointingly, adopted the same charging tactics as the other two.October 1, 2015 at 12:48 #17182
MF did you sign up for the 5 year hog or are you a recent OTM member?
We are in the same situation as you. Before all this we were purely on Zoopla and had been for many years. We refused to jump onto the RM band wagon because of the charges and the way they increased them whenever they wanted to.
We spent a fortune on local press advertising at the time as well.
OTM arrived and we signed straight up. Went to the local meetings and totally support the idea and are keen to push it. 4 other agents in our area joined OTM but the rest (and majority) have stuck with Z and RM.
We knew that we had lost instructions over the years simply because “we weren’t on RM” and with OTM being the new kid in block it made sense to us to drop Z and jump onto RM. We also reduced local press advertising a lot to help offset the costs.
We aren’t the biggest agent in town and paying the hefty RM fee per month is a bitter pill to swallow but what we are doing at the moment works. We are actually better off at the moment than we had been in the past but as you said, if we have a slow month it hurts us more.October 1, 2015 at 17:55 #17204
Sorry James – I wasn’t very clear on our position. We are currently not with OTM, simply because, like the other two, they insist on charging minimum monthly amounts no matter how small the advertising stock. I completely agree that being on both Rightmove and Zoopla is not necessary – most of the enquiries from these are duplicated – but as OTM won’t change their stance, we must wait until they are a market leader before we join them.
By the way, we are a lettings only business.October 2, 2015 at 10:05 #17239
like MF i can only comment coming from a large independent the lettings leads coming from AM/OTM were minimal the site is set up for estate agents not letting agents, now working for a franchised company i see no need to follow everyone to AM/OTM whilst the other two drive good quality business to my office the devil is in the detail if i could use all three then possibly i would give AM a go but at the moment its a big boys tool run by the big boys for the big boys and for the record we have just come off the back of three consecutive record months without AM.
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