We often speak with pride about the methods behind our sales training, coaching, and general sales process. These methods, however, benefit from complimentary marketing tactics serving qualified opportunities to our sales agents. One way to increase the quality and velocity of these opportunities is through the ping post system. We sat down with CMO, Alex Allen to discuss the philosophy behind the ping post and how it can contribute to success in online marketing campaigns.
In general, what is the philosophy behind a ping post system?
The ping post offers potential buyers some qualifying information about the lead before they bid. Conversely it allows sellers to collect multiple bids to determine (alongside any internal business rules) to whom they will sell the lead.
What is the ping, and what is the post?
The ping is simply the initial information sent from a lead vendor to a buyer that typically includes basic demographics, but no individual contact information. This is what each bidder receives and uses to determine their bid. The buyer who wins the lead via real-time auction then receives the post which is the full lead including contact information.
The information you’re pinged with can vary based off of fields collected by the vendors’ forms.
What does an efficient use of a ping post look like? And for that matter, an inefficient use?
Efficient bidding necessitates automation. Building systems that can ingest information on the ping, intelligently determine a bid, and return that bid to the vendor without human intervention is by far the most efficient way to manage the ping post.
Inefficiency is the reliance on human intervention and not taking advantage of all the information that you have from the ping.
What lessons have we learned as a result of participating in a ping post ecosystem?
We have learned the degree to which one form submission can result in thousands of pings with one individual’s information across many verticals. It is important to monitor duplicate pings and understand the matrix of origination of consumer intent. We’ve also learned the vital importance of maintaining strong relationships with lead vendors. We are always pursuing automation, but we’ve got to make sure the humans behind the systems are aligned as well.
What tools do we use to help us better leverage this system?
We’ve built proprietary bidding algorithms that allow for maximum automation. In any sort of marketing you need accurate reporting. We store all metrics and data in our own databases and use visualization software to generate elegant and actionable reporting.
What pain points exist within a ping post environment?
The goals of the lead sellers and buyers often do not align. What is a profitable buying practice for the bidder is not always profitable for the seller. Poor communication exacerbates those issues.
Vendors are looking to monetize every single lead they generate. Buyers sometimes encounter situations where supply greatly outpaces demand (such as during Medicare’s AEP). Both parties need to communicate these issues so that each is profitable.