![Questions?
Email: ismith@quotewizard.com
Twitter: @mriansmith
Auto – Home – Renter – Life – Health
Leads + Calls + Clicks
[ Booth #119 ]](https://image.slidesharecdn.com/ping-tree-final-public-120405175947-phpapp02/85/Inside-the-Great-Ping-Tree-43-320.jpg)
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Inside the Great Ping Tree
- 1. Presented by Powered by Ian Smith
- 2. What we’ll becovering • What happens after the submit button is pressed • How: – leads monetized and distributed – the complexity of this system has lead to fraud in the past • 2012: – major changes – partnership is the way forward
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- 4.
- 5. Flo is huge(in pop culture) 3,375,312 like this
- 6. Brand Marketing • $4Billion+ in spend this year • More than entire leads industry! • But… • Consumers view it all as the same product • All the ads point to the internet • Consumers want to compare rates
- 7. So… • You’re smart •You own a couple of domains • Why don’t you throw up a form? 1. Do some advertising 2. Collect consumer information 3. Sell to the big insurance companies 4. Profit!!! • Now you are thinking like an aggregator • But…it isn’t quite that simple
- 8. QuoteWizard Inc 500/5000 • 2010:#1 in Insurance • 2011: #7 in Insurance
- 9. QuoteWizard • Distribute 300,000+leads a month • Self generate the majority of our leads
- 10. QuoteWizard • Seattle, WA •Privately held • Sell to 5,000+ Agents • Established In – Auto – Home – Renter – Life • Entering Health Vertical
- 11. Ian Smith 7+ Yearsin Online Lead Generation VP of Technology @ QuoteWizard Evangelism and Strategic Opportunities Previously @ WorldClass Strategy (Now EducationDynamics) Email: ismith@quotewizard.com Twitter: @mriansmith
- 12. In the shadowof the ping tree Life of an Aggregator
- 13. • Publisher putsup • Tells consumers they can save big
- 14. • Consumer putsin their info • Now the lead lifecycle begins
- 15. • Things toremember: – An insurance lead is a request for multiple quotes – Many auto insurance leads have a cap of 8 – Each time a lead is sold the cap is reduced by 1 – Directives insure leads are only sold once to each agency
- 16. Publisher has alead Publisher auctions off the lead 1. QuoteWizard Bids Matched: 1 Agent, 1 Carrier 2. Trinity Quotes Bids Matched: 1 Agent 3. SunsetSwan Bids Matched: 1 Agent
- 17. • QuoteWizard Winsfor $7. • Sells – 1 Agent – 1 Carrier • Auctions remainder of cap • Trinity Bids $6 – Sells 1 Agent • SunsetSwan Bids $4 – Sells 1 Agent
- 18. The circle ofhappiness
- 19.
- 20. Dealing with thelead fire hose
- 21. Dealing with thefire hose • Over 10,000 leads a day • Over 50+ direct sources and publishers • Hundreds of affiliates • A universe of 40,000+ lead buyers • Sometimes things go wrong
- 22. Bad Apple orTrend?
- 23. The two typesof bad apples • Non-contactable – Disconnected number – No answer – Mickey Mouse, Donald Duck • Low/no Intent – Contactable – Not Interested – Did Not Request
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- 25. Ping Forwarding Publisher auctionsoff the lead 1. QuoteWizard Bids Matched: 1 Agent, 1 Carrier 2. Trinity Quotes Bids Matched 1 Agent 3. SunsetSwan Bids Matched 1 Agent
- 26. Ping Forwarding Publisher auctionsoff the lead 1. QuoteWizard Bids Matched: 1 Agent, 1 Carrier 2. Trinity Quotes Bids Matched 1 Agent 3. SunsetSwan Bids Matched 1 Agent
- 27. Ping Forwarding Publisher auctionsoff the lead 1. QuoteWizard Bids Matched: 1 Agent, 1 Carrier 2. Trinity Quotes Bids Matched 1 Agent 3. SunsetSwan Bids Matched 1 Agent
- 28. Fraud Forwarding Takes alead that looks like this:
- 29. Fraud Forwarding • Thistime last year: – We discovered this was going on – Clients began to view leads as email/phone only – Return rates began to sky rocket and payouts fell • Now – Offenders shut down – Other aggregators have taken action – Slow and steady improvement
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- 31. Affiliate Whack aMole • Socially savvy • Technically savvy • Below the radar • Pop up, do 100 leads a day – Might be aged – Might be phone book – Might be no intent • Shut down, change name, move network or aggregator
- 32. Managing Quality Return orComplaint Rate • Leads Returned / Leads Sold • Complaint hot spots • Indicative of quality • Lacking precision Close Rate • Leads Closed / Leads Sold • Agents lack sophistication in tracking and reporting • Carriers guard data, report over extended time frame
- 33. Taking it allwith a grain of salt • Aggregators balance on the knife edge between two extremes • Everyone wants higher volume and higher quality • Our goal: to dramatically grow our clients’ sales
- 34. It takes avillage $10.95 | Low: $2.35 | High: $21
- 35. It takes avillage $8.95 | $10.95 | Low: $2.35 | High: $21
- 36. Value of anaggregator • Manage a huge and chaotic universe of clients • Create media buying efficiencies by leveraging depth of client base • Keep clients happy with a high volume of leads at a predictable quality • Provide publishers with dependable pricing
- 37. 2012 The Sky isthe Limit
- 38. Consolidation Hometown, InsuranceAgents, Moss,QuoteScout (?)
- 39. Maturing Industry • Morepredictable marketplace with fewer players • Fewer places for bad affiliates to go • Stability – leads to innovation – leads to opportunity – leads to growth • Let’s keep making improvements
- 40. Shift your view •We’re not out here to eat your lunch • Your success means our success • We’re often forced to operate in the blind – Lack of insight into publisher sources – Lack of insight into buyer performance • Look at us as a partner
- 41. What I wantyou to take away • Everyone wants higher quality leads • Partnership is the key • To get there – Information needs to be more timely – Publishers need to be more open about sourcing – Buyers need to be open about what leads work – Pricing needs to follow effectiveness
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- 43. Questions? Email:ismith@quotewizard.com Twitter: @mriansmith Auto – Home – Renter – Life – Health Leads + Calls + Clicks [ Booth #119 ]
Editor's Notes
- #2 Financial Services Track - What happens after the submit buttonHow leads are sold, especially insuranceHow the complexity creates opportunity for fraud and abuseNext: Marketing Savvy, Not Brain Dead Boring
- #4 Mr. Mayhem
- #5 FloNext: Flo is huge
- #6 Video gamesBobble head3 Million + likesDress like flo on progressive siteFlo in mobile apps
- #7 $4 BillionMonday Night football : Beer add and 4 outrageous auto insurance ads
- #8 Next: QuoteWizard
- #9 We’re on the prowl2010 Inc 500Strong year over year top line growthNext: We sell
- #10 Carriers and AgentsClicks, Calls, and LeadsNext: Additionally Privately Held
- #11 Thought LeadsOne of the reasons we are doing this talkWant to engage all industry players to help improve and grow lead genTechnical LeadersNimble organization that likes to innovateTry things that are competitors won’t
- #12 First line of code to the first leadA couple of ways you can get in touch with meNext: Life of an Aggregator
- #13 Our view from the center of the action
- #15 Next: couple of things
- #16 Cap managed with distribution directivesNext: Let’s look at the numbers
- #17 Next: Who wins
- #18 We winUniverse of clients is so largeNext: Now begins
- #19 Filled out form, thinks he’ll save moneyPublisher sells lead, gets paid - Now he’s happy.Aggregator’s sell leads to agents and carriers - Now they are happyClients are happy. Hot lead that is shopping for insurance.Reduced premium.Next: End of story
- #20 Right? Right? Sort of
- #23 Hand full of leads out of 10,000 leads a day. Consume most analytical and customer service resourcesNext: why everyone hates
- #25 Back to the auction
- #26 Trinity Quotes gets smart
- #28 They run some math and increase their bid to win the lead
- #29 Discovered last year.
- #31 Jump network to network aggregator to aggregatorThen they’ll change their name and start all overNext: Leads Sources
- #32 Jump network to network aggregator to aggregatorThen they’ll change their name and start all overNext: Leads Sources
- #33 Return RateClose RateNext: salt
- #34 Our goal is to dramatically grow salesNext: Step back, value of an aggregator
- #35 Army of agentsNights weekendsNext: credits
- #36 Army of agentsNights weekendsNext: credits
- #37 Our goal is to dramatically grow salesNext: Step back, value of an aggregator
- #38 These are the challenges we haveA lot is changing…banner yearNext: Consolidations
- #39 Lot of companies = BankRateInsuranceLeads + AllWeb another big companyQuoteWizard nipping at their healsStrong growth without having to buy other companiesNext: Stability
- #40 Can’t play against each other, have to work with usFirst time we’ve seen such stability
- #41 Challenge youShift your view of aggregators
- #44 Any questions?Thank you so much for your time.Could I get the QuoteWizard peeps to stand up.Thank you all for your kind attention. We have a number of key people here along with the company owners.I’ll be at the booth for the next couple of hours. Happy to shake hands, answer questions, or make intros to our team.