The entire lead generation industry is transitioning to ping post lead distribution due to its benefits to buyers, sellers and the leads themselves. In theory, ping post is a simple process: send partial lead information to your network of buyers, let them bid in real-time on the lead, then sell and deliver the full lead details to the highest bidder. But in practice there are dozens of decisions that must be made to setup the optimal ping post system for your business.
Ping post software is an application that allows for only partial lead information to be initially transmitted from the lead seller to the lead buyer, giving the lead buyer the opportunity to respond whether they would like to purchase the lead and if so, at what price. The primary benefit is the ability to protect information, both for the lead and the marketing assets of the lead generator. The ping post process protects the consumer’s information by only sending the full contact information to the lead buyer that will actually service their needs.
This protection of consumer information is good for the lead generation industry as a whole because the more self-regulation the industry can do itself, the less sweeping governmental regulations, like the recent TCPA changes, will go into effect. The protection of the company’s assets, being the lead information itself, is also important because it allows lead generation companies to optimize its lead flow by distributing to companies that can actually service the lead.
This entire process requires ping post software.
Who Uses Ping Post Software?
In lead verticals like home improvement, auto finance and insurance, ping post software is the standard operating procedure. But in other verticals like mortgage, student loan and legal offers, awareness of ping post software can vary greatly.
While there are many companies that may utilize ping post software, they primarily fall into two categories. The first category is agents/contractors/buyers who utilize ping post software to dynamically bid on leads based on internal custom rules. For example, a lead generator may ping an insurance agent with the zip code, email and whether the lead is a smoker. The agent can figure out the profitability of a lead with that profile and dynamically bid based on that profitability. Of course, ping post software runs through this process in real time so the agent develops custom rules for groups of leads that meet certain qualifications.
The second category of companies that utilize ping post software is lead resellers, also known as lead aggregators. Resellers specialize in setting up both buyer and seller relationships with multiple companies. They will use ping post software to receive pings from multiple lead sellers and send them to their various buyers to see if, and at what price, the lead can be sold. For example, a home improvement lead aggregator may receive the lead’s zip code and project type and check its client list (also known as running it through a ping tree) for eligible buyers. If it does, the lead aggregator can respond to the original ping with a price. If there is no potential buyer, the lead will go to someone else.
How To Get Set Up
Like I mentioned before, in order to use ping post lead distribution, you’ll need a lead distribution system with ping post capabilities. Depending on the software you choose, this setup may vary slightly, but here is a general overview.
- Determine how you will be generating leads and using your ping post software. Are you generating your own leads and selling them via ping post? Or are you buying leads from lead vendors and reselling them to your lead buyers?
- Set up the lead distribution process. If you are generating your own leads, you can start pinging your buyers right away. If you are buying leads from a vendor, you need to provide them posting instructions so their lead distribution system can communicate with yours. Then you need to receive posting information from your buyers so that your lead distribution system can communicate with theirs.
- Set your custom business rules to automate this entire process. Once the delivery infrastructure is in place, you need to build the business rules into your lead distribution system that will automate the ping post process for every lead that you generate or buy.
If you’re new to ping post, this entire process can sound extremely daunting, but it is actually much easier than it sounds. For more information on the basics of ping post or if you’re looking for ping post software, or a company that can help you through this entire process, contact me today.
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