Brian Bowman on performance based marketing through Reply.com

BrokerIPTV: We are on the vendor floor of Inman's Real Estate Connect in San Francisco 2008 and I am pleased to be here with Brian Bowman and Brian is with Reply and Brian, welcome to the show.

Brian Bowman: Thank you Mark. Appreciate it.

BrokerIPTV: Just curious, what is... there is a lot of lead gen products here. You have seen one, you have seen them all. You got people paying for leads on Google. What is different about Reply?

Brian Bowman: So, the key difference of what we are doing today is we believe lead gen 1.0 is either data dying that it is time that the buyers of leads get control similar to buying a click on Google. You can now buy a lead. You can set up campaign that allow you to buy more of what works and stop what doesn't. So, an example would be a real estate agent in Santa Monica can say I only want to buy a home for 750000 dollars to a million dollars. I only want the consumer who is three days old or younger in terms of when they submitted the lead and I want a star rating of three or higher. Those kind of controls didn't exist in the past and by the way, I only want to spend 20 bucks for that lead. So, can you do that for me? And with this type of a system, they can.

BrokerIPTV: So, how do you disseminate the leads that say that people aren't willing to buy or work [Phonetic] or what happens to those leads? Or is there a buyer for every lead out there?

Brian Bowman: One of the big ideas here is every real estate company that generates leads has some left over inventory. So, we have an exchange that allows people to submit the leads that are unsold. We are very transparent about how old those leads are or brokerages that have call centers, they can buy leads very inexpensively that maybe 15 days old or 30 days old and then call on those leads and try and get them back in, it would be fresh[phonetic]. Now, if they are older than 30 days, they just stop being used.

BrokerIPTV: So, do you guys have a property database so that people search. Is that in there for people that are looking for homes?

Brian Bowman: We do. Actually, we are getting the data from Oodle right now. So, we have nation wide, call it a MLS list, but the nice thing about that particular style is when a consumer clicks on a listing they actually go to the brokers website. So, by the time they make it into the site, we've generated the lead for them, we've distributed to the active agents in our market, we then want to fulfill the value proposition, the reason they clicked on that ad on Google on the first place.

BrokerIPTV: So, any success stories for some of your users out there Brian?

Brian Bowman: Sure. I think real estate agents have the opportunity now for the first time to think about marketing in terms of performance based marketing and expect around 1-2% close ratio, set up their effective CPMs or set up their portfolio of acquisition that works for them and we have many people in our broker market now that are finding good success in this new model.

BrokerIPTV: Well, thank you Brian for sharing your product with us today at Inman. Appreciate it.

Brian Bowman: Thanks

Posted on October 12, 2008 19:45:05 by Blog Author