Members of The ValPal Network to benefit from free bonus leads
Here at The ValPal Network, we’ve been working hard to create a new product for our members which provides agents with a new type of lead for free.
The new leads are generated by consumers who start to fill in an online valuation request but don't end up completing the process for whatever reason.
Despite not filling out their personal contact details, these prospects will have provided their address, which will be passed to our members as a new type of lead to target.
A huge number of new opportunities
Our research between April and December 2018 found that almost half a million consumers visited an agent's website and started to fill out a valuation request, before getting distracted, put off or moving on to other things.
In the past, this data - which belongs to you, the agent - has been lost. But now it will be provided to you free of charge, representing a new type of lead to contact.
We want to use our own market intelligence to give you another new way to engage with prospective clients.
Our insights show us that these consumers have been on an agent's website, which means they had some initial motivation to request a valuation of their home. We have their address, which provides you with the opportunity to make contact and generate some new instructions.
A fresh kind of lead to target
These new leads are not as highly qualified as traditional ValPal leads when the consumer has provided all their contact details, but they present fresh opportunities.
We want to make clear, however, that these opportunities should be seen as completely different from those where the prospective seller or landlord has completed the whole online valuation process.
They are 'top of sales funnel' leads, an additional opportunity on top of everything else you are already doing through your marketing and prospecting.
We know these consumers have thought about moving, which means this data can be far more effective than other systems which use algorithms to predict when people might be looking to move.
Our online valuation process is split across two forms and the new product will help to turn all the abandoned requests from the first page into potential leads.
This is because, according to our research, having the online valuation split across two forms reduces the bounce rate as many people don’t want to fill in a long application.
Having one form means the consumer's address cannot be obtained if they abandon the process, this leads to a huge amount of potential opportunities lost.
By sharing the data obtained in our first valuation form, we're now providing members with added value and successfully avoiding the all or nothing approach of having just one valuation form.
How can you target these consumers?
We have devised a three-step process to target these leads successfully. The first is to cross-reference the address with your own database to see if you already have the consumer's personal data on file.
The second is to send canvassing material to the address in order to introduce your brand and full range of services. The third step is to knock on the door and engage in a conversation with the aim of booking in a market appraisal.
Clearly, the first two steps we advise are more hands-off, while the third - knocking on the door - is more upfront and old-fashioned but may provide the best results.
Agents' databases are an extremely valuable tool in creating opportunities, while prospecting with the right marketing material can also bring success.
We will also soon be supporting the new service with 'before you go' sliders to encourage people to complete the process as well as automated canvassing letters in the future.
Taking the lead from the e-commerce industry
This market intelligence-led approach to targeting consumers who have abandoned the online valuation process takes inspiration from the highly effective e-commerce sector.
By contacting consumers who have started but not completed their online valuation process, agents can interact with new clients in a similar way to retailers such as Amazon, which targets consumers that 'abandon' their online shopping carts.
Once we know a consumer has motivation to visit your website and start an online valuation request, this is the signal for you to get in contact – at this point, any persuasion or advice you give could convince the prospect to take their next step on their property journey with you.
Our tech-savvy member agents will also be retargeting these prospective vendors and landlords via Facebook to create another touch point with the consumer.
This is just the latest way in which The ValPal Network is leading through data innovation - we're always striving to provide agents with even more opportunities to generate more leads and ultimately more instructions.
For more information, get in touch with a member of our team today!