OnTheMarket has launched its first outdoor advertising campaign which highlights the portal’s ‘new & exclusive’ properties.
Displayed at rail and tube stations, bus stops, and in the streets, the hoardings are currently appearing at over 1,500 sites throughout London.
Each poster carries the words: ‘OnTheMarket gets thousands of new properties every month, 24 hours or more before Rightmove or Zoopla. So don’t miss out. Set up a property alert today.’
Each ‘New & exclusive’ property listing appears at the top of the search results with an enhanced presentation which displays three pictures instead of just one. It also appears at the top of the property alerts sent to consumers via email.
In addition, the OTM TV advert has been running since the beginning of this month, airing on ITV, Channel 4 and satellite/digital channels, with spots during Coronation Street, Midsomer Murders, The Durrells and ITV’s new drama, Innocent.
Ian Springett, chief executive officer of OTM, said: “Our outdoor campaign is a powerful and highly visible way for us to build brand awareness, to showcase our ‘New & exclusive’ properties and to encourage active property-seekers to set up a property alert.
“In addition to the posters and to continued paid search activity, our brand is on prime time TV throughout May. All of this multi-channel activity combines to raise awareness of among consumers as well as generating traffic and leads for our estate agent customers.”
Is this even true? Against my advice my company took “advantage” of the free OTM offering 3 weeks ago, we have had 3 enquiries. 2 of these were emails, we were never able to get hold of the person despite calling and emails, the third was a genuine enquiry that ended up in a viewing.
I asked the lady on the viewing why she enquired via OTM rather than Z or R, and she couldnt remember doing so!
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I’m starting to think that your Twitter account is a fake, either that or you’re really an 18 year old junior neg.
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Nope it is all real and if only i was 18 years older again. Yes i am dead against OTM, reasons i have stated previously and i stand by them. If there are other reasons that you think my account is fake, please mention them
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I just think that you’re stating things that you think people want to hear.
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Without want to be too blunt, i just state what is on my mind, i dont really care whether other people want to hear it or not. I have an opinion on how the OTM situation will end up should they get enough traction and am keen to avoid that, hence my negative OTM posts. Just my opinion however not saying it is fact.
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Fine to not be an OTM supporter, but to be “dead against” seems a bit strange. Do you not get dud inquiries from Z & RM? A 1:3 viewing ratio isn’t too bad is it? just need more of them!
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Yeah we get dud inquiries from Z & R, that is unfortunately a given. The reason i am dead against is that when Zoopla started, lots of agents were full of the “once Zoopla gets well known, we’ll drop RIghtmove”..etc. Years down the line most agents advertise on both. Let’s be honest, that is the way OTM will go, if it gets a decent market share agents will then advertise on RM, Z and OTM. To keep RM costs under control a mass exodus of agents would be required and that just isnt going to happen. A best case scenario for most agents will be dropping Z, then just advertising on Rightmove and OTM
You guys might not want to hear it, but any degree of OTM success will cost us all more money down the line nota saving
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New & exclusive is the key to OTMs success. Agents need to start doing it.
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Run that past me again!
A property has been on the market four weeks, an applicant starts looking today, how does New & Exclusive assist them!
OTM needs an overhaul, PrimeLocation sold for £48m – now sold for over £2bn. Agents should be looking for a change in management.
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New and exclusive only works on the freshly launched properties. The key is in the title!
We now get more leads from OTM than RM.
savvy buyers are learning that some agents launch houses to New & Exclusive first.
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Agree 100% with JonnyBanana. With Zoop about to fall into US hands who knows where that might lead in the battle of the property portals? This is our second and last chance to back OTM (warts and all). I was a determined IPO sceptic as I felt the original backers (of which I was one) had been sold out but I am now becoming increasingly concerned about where Z and RM are heading in terms of on-line agency. A portal majority-owned by agents is frankly a better place to be imho.
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Couldn’t agree more marcH. Our industry gave clear evidence of its dysfunction by not embracing the chance to curb Rightmove’s excesses when the idea of an agency-owned portal was first launched. How can anyone forget the price rises it imposed during the recession ? Talk about biting the hand that feeds it.
I look forward to the day when I can tell the RM shareholders that the days of 70% + profit margins at my and my clients expense are over. The OTM evolution may be flawed, but its the best alternative and, in my view, should now be supported.
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I can’t wait to tell RM to F@ off
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The simple fact that OntheMarket believes that 24hr exclusivity is a major USP for consumers (buyers) in a FALLING market tells you all you need to know about the strategy!
If you aim to compete against Rightmove you need a differentiation, a story, a message that you tell consumers. And that story cannot be about Rightmove overcharging agents. It has to mean something to consumer, resolve their problem, help them.
If somebody believes that by spending £30-60m one can radically change consumer habit, I am affraid they are smoking crack! Rightmove is a dominant player and it will be nearly impossible to take them down!
SilverLake boys are very smart and done a number of great transactions in the past. I would not underestimate ZPG.
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“SilverLake boys are very smart” No girls then, just boys?
I’m not sure buying a company consisting of 4 or 5 legacy systems and an incomplete and unstable amalgamation product on the eve of GDPR, is what I’d call smart.
Both Rightmove and Zoopla are vulnerable for different reasons. GDPR is going to hand strategic advantage to small data projects and in my opinion that leaves anyone still investing in big data looking like the Emperor stood there in his new threads looking like a bit of a charlie.
GDPR ought to have every single CRM user knowing and understanding what’s happening to data they are responsible for and what authorisations they have given for it’s dissemination. Those that haven’t WILL be in trouble.
A lot can happen in 2 weeks
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Hi Robert,
the comment wasn’t about ZPG or SL boys/ girls. I Hope they have lawyers/ consultants who can advise them on GDPR :)))
My comment was mostly about OTM’s customer story. What makes them stand out? Different? Why as a homebuyer I will go to them and not to Rightmove?
So if you have a view on what is the right approach I would love to read it.
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My comment was aimed at those whose job it is to do full and proper due diligence on the acquisition, not you specifically. (as well as sending a message to any agent who is unaware they have warranted they have explicit consent to share data with unspecified 3rd parties via their CRM system)
As a home buyer you will go where the right property,at the right price, at the right time, with the right incentives is.
You are now being forced to look in 3 places for a home, I’ve built something that means you can look in 1 place. It is a system that compliments OTM and together that’s powerful enough to seismically shift your property search habits.
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Sounds very interesting. What is that thing that will seismically shift consumer habits and why not offer it bigger firms?
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Making applicants look at 3 locations and having to endure the inevitable duplication of listings means that homebuyers are at best put through a frustrating and time consuming faff that’s completely unnecessary.
Bringing all listings into a single place with duplications restricted to multiple agency listing means search just became simple. Add to that a communication system that makes text, email, live chat or telephone conversations far easier than it is now means agent can tailor and par back their marketing spend to marketing that works for them and the applicants who are looking.
I’m not fussed about hits, traffic or time on site statistics so built a system to help agents win instructions and help applicants buy or rent from them rather than hours and hours and hours gawping at a portal.
By the bigger firms who do you mean?
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Apparently Robert knows better than the global leader in technology investing, with $40 billion of investments.
I know you’ve a large opinion of yourself Mr May, but get with the program.
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