Ping post technology is already one of the most powerful ways of buying leads today. It is used prominently in a growing number of verticals. If you’re new to ping post, you’re probably asking yourself what all the fuss is about? Here’s everything you need to know about what ping post lead distribution is, how it works – and, most importantly, how it can update and improve the lead-buying process for you.
Ping post lead distribution originated in the Insurance verticals, where it has a strong track record of success. To put it simply, it is an auction-based system of lead buying that takes place through a lead-bidding platform. Here’s how it works:
1. A lead source sends out a “ping” via its lead distribution platform. This means the lead source provides potential lead buyers (advertisers) with a set of non-personal information about a lead. The lead attributes contained in the ping are relevant to specific verticals. For example, a ping in the Mortgages vertical may show the value of the lead’s home or their current loan balance. Pings never contain the lead’s personal information (name, contact details, etc.).
2. Lead buyers to receive the ping via their lead-bidding platforms. Based on the attributes the ping contains, buyers, determine whether the lead is worth buying. This is a quick, automated process based on the lead buyer’s predefined settings. For example, a lead buyer may define a specific margin value that it would be willing to spend, based on how valuable it considers the lead to be.
3. If the ping matches the buyer’s needs, the buyer places a bid on it.
4. The lead goes to the highest bidder. The buyer then receives a “post” of the lead’s full personal information.
Ping post is already a common practice in verticals from Home Improvement to Mortgages to Financial Services and beyond. Its popularity is due largely to its two major advantages for lead buyers: dynamic pricing and high-precision lead-matching.
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Thanks to the auction-based system, ping post-distribution gives buyers a direct say in the lead’s price. Using powerful lead-bidding platforms like PX, the buying process is fast, efficient, and takes place in real-time.
Buyers decide for themselves which attributes they are looking for in a lead, and how much they are willing to pay for them. This means the sale price reflects the true value of the lead. That’s a major advantage compared, for example, with paying fixed prices for unfiltered lead information sold in bulk.
The vertical attributes contained in the ping give lead buyers the information they need to make an informed purchase decision. Using ping post, marketers are in better shape to predict whether the lead is a match for their specific business, campaign, or product.
Lead buyers can precisely define the kinds of leads they want to buy. As a result, they enjoy a much better return on investment and spend their money where it counts most.