THE BASICS OF PING POST YOUR INTRODUCTORY GUIDE TO PING POST
INTRODUCTION If you re not already immersed in ping post lead verticals or are just recently entering ping post territory, you may be a bit reluctant. Hey, we ll be the first to admit that ping post can be a bit daunting if you don t have the necessary information, software, or support to help you get your feet off the ground. However, avoiding ping post altogether is becoming increasingly hard. Ping post is already the norm in the home improvement, auto finance, and insurance verticals and is becoming more common in many others as well. While your verticals may still currently function without ping post, chances are they are already making the transition. The lead industry continues to evolve and if you don t evolve with it, you run the risk of falling behind, or worse, missing out altogether. Luckily for you, we have compiled a set of basic ping post information that will not only help introduce you to the workings of ping post, but also clue you in on some practices that will help you make more money. 2
THE BASICS OF PING POST 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 by either accepting or rejecting the leads. The seller pings the partial information to his/her network of buyers (or ping tree). If the buyers want to bid on the lead based on the information they received in the ping, they send back an offer. The seller s system then tallies the bids and calculates the potential profit from each bid. If the seller accepts a bid, his/her system then delivers the full lead information to the winning bidder and posts it into their CRM or lead distribution system. The entire ping post process is executed automatically and in real-time. Qualifications and corresponding bids are determined ahead of time and act as a filter for every ping received. Because of this, the entire ping post process only takes a few seconds. 3
WHO USES PING POST? 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 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 have a buyer, 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. 4
THE BENEFITS PROTECT INFORMATION A BUYER FOR EVERY LEAD DYNAMIC PRICING The primary benefit of ping post is the ability to protect information. Because a ping delivers only partial, non-contact information, the lead itself remains virtually anonymous. However, the buyer still receives the information that he/she needs to make an informed purchase. The full contact information is not shared with anyone except the buyer that wins the bid. Not only is this good for the leads, it is good for the lead industry as a whole. The more self-regulation that goes on within the lead industry now, the fewer sweeping government regulations will happen in the future. Ping post also benefits lead generation companies themselves. By sending pings to multiple buyers, and receiving an offer based on that information, the lead seller can be confident that the lead they sold was delivered to a buyer that can either service that lead or get it to someone who can. Because ping post helps ensure that the lead s needs are serviced, it helps protect the integrity of the lead seller s business as well. Finally, the greatest benefit of ping post from the seller s perspective is dynamic pricing. Within ping post, lead sales follow a consistent, static pricing pattern. However, ping post allows for dynamic pricing for each lead. This means that each lead can be sold for its maximum price, which can completely optimize your selling process. For more on dynamic pricing, continue below. 5
DYNAMIC PRICING Dynamic pricing is a simple concept. Each lead is sold for a different price depending on a set of variables. However, in practice there are many options and many decisions involved that can make the entire process a little more complicated. Because of this, we have decided to break-down your dynamic pricing options to give you a better understanding of not only how it works, but how you can take advantage of specific opportunities. AUTOMATED PROFIT MARGIN One of the biggest advantages of dynamic pricing is the ability to set a profit margin based on the specific types of traffic routing through your system. You can set dynamic ping post profit margins by either a dollar amount or percentage. Furthermore, you can also set different profit margins based on the source that the lead came from and the client that you are selling to. This flexibility allows you to optimize each relationship while minimizing risk by automatically lowering the bids on less profitable leads. DOLLAR VALUE Some lead generation companies build their business around a flat dollar markup. In this case, your lead distribution system calculates the predetermined profit margin based on the bids in your ping tree. If, for example, you want to make $5 on each lead and the best bid is $20, your system will automatically respond to the seller with $15. PERCENT MATRIX Other lead generation companies set their profit margin on a percent basis. So, for example, if you set a 50% profit margin and the best bid is again $20, your system will calculate 50% of the bid ($10) and return the balance ($10) back to the seller as your response. When using the percent calculation, you also have the option to set up a percent profit margin matrix based on the dollar value of the lead. For example, you could set a 10% profit margin for leads under $10, a 20% margin for leads between $10 and $20 and a 30% margin for leads over $20. This flexibility allows lead generation companies to remain competitive in the marketplace and optimize their lead flow. 6
THE BOBERDOO.COM SOLUTION At, we produce lead distribution software that is fully equipped with ping post capabilities. Our lead system is powerful enough to meet the needs of seasoned ping post veterans, yet it is completely intuitive and perfect for those that are new to ping post as well. One of the biggest strengths of the system is that it can handle extremely high amounts of volume. In fact, our software processes upwards of 5.5 million pings each and every day. If you are just starting out in ping post, your primary concern might not be volume, however, choosing inferior software will only hurt you in the long run. The beauty of the boberdoo system is that it is built to help you grow and it is powerful enough to handle all of your volume needs. Even if you re not receiving a million pings a day, in the near future, you may need those capabilities. By choosing a mediocre system, you effectively pigeon hole yourself and lose the ability to grow. Another important benefit of ping post in the boberdoo system is flexibility. The boberdoo system isn t strictly a ping post solution. By no means. 7
The boberdoo system is a complete lead distribution solution that also has advanced ping post capabilities. With a boberdoo system you also receive all of the advanced routing solutions for both web leads as well as phone calls, both domestic and international. The boberdoo system is built with advanced filtering options that allow you to segment each of your leads by whichever variables you choose and price each lead accordingly. With granular filtering options and dynamic ping post pricing, you receive the ability to create detailed pricing structures that allow you to maximize your revenue on each and every lead. Our clients continue to reap the benefits of the boberdoo lead distribution system and we take pride in their satisfaction. We have helped many clients that were either inexperienced or completely new to ping post and have given them the tools and knowledge that has empowered them to succeed. Whether you are a ping post veteran, someone looking to start using ping post, or just looking for more information, we would be glad to help. Contact us to learn exactly what the boberdoo system can do for your business. If you would like to see the boberdoo system in action, we can even schedule a live demo. Contact us today! 8
OUR STORY AND CONTACTS has been working on lead distribution systems since 2001 and we have been in business since June of 2000. Over the past 14 years, we have continually provided the reliability and flexibility needed to grow any lead business. The system allows you to automate the daily tasks of distribution, lead management, accounting, billing and reporting with built-in abilities to handle inbound/outbound phone routing, ping post and traditional web leads. clients sell leads and use the system as solutions to manage their back office tasks. Many of our clients only sell internet leads. Others only sell phone calls. A handful of our clients sell both. One of the great features of the system is its flexibility. We do not have one system for debt leads and another for education leads and yet another for selling phone calls. The core concept is the same; you want to sell leads and you need a system to help you keep track of your business. Our solution solves that problem. 325 W Huron St. Suite 404 Chicago, IL, 60654 800-776-5646.