How to Manage Your IDX Lead Capture Settings (Part 2)

In last week's post, we described registration requirement settings available to WolfNet IDX subscribers. We also noted which settings were more or less restrictive, and that generally speaking more restrictive settings mean more leads, though the quality of leads captured from forced registration may decline. This week, we want to discuss what you should consider before enabling the settings that are right for you.

Consider the following:

1.       MLS Rules - Some markets require certain data be restricted to only users who have registered and authenticated their email address. This may include listing address or public remarks.  WolfNet always sets available settings according to MLS display guidelines. There are some very compelling additional lead capture options in MLS markets where we offer a Virtual Office Website (VOW) property search.  We will go into more detail about this in a later post.

2.       Market conditions -Think of the web site that the "Man on the Street" would visit to search for properties in your area; this is typically the strongest local brand. We recommend you avoid making your login settings more restrictive than this site.  You may see a high bounce rate if your visitors know of another site where listing data is available without early registration.

3.       Quantity of leads - For many it's a numbers game. High traffic and forced registration can equal a lot of leads.  Just keep in mind that you may see higher bounce rates and a greater preponderance of bad contact data (Mickeymouse@hotmail.com is probably not a good lead!). Qualifying and responding quickly to legitimate candidates may be challenging, so make sure you have the systems and resources available to handle this kind of volume.

4.       Quality of leads - Less restrictive registration requirements (the default is voluntary registration to save searches or favorites) will not capture as many leads, but these tend to be better qualified candidates. People who volunteer their information usually have more targeted search criteria, are more likely to transact sooner, and more likely to be receptive to engaging with you. Bounce rates are much lower, site visits last longer, and repeat and referral traffic tends to be higher.

5.        Your lead generation strategy - Are you investing each month in pay-per-click or other online advertising to drive people to your web site? Some would argue that the best ROI on paid campaigns is to force registration very early, perhaps after a single listing detail page view. Are you requesting visitors to your web site provide their contact information from a 3rd party application, such as a guestbook utility from your web site provider? Think about the user experience here, and how many people will be willing to complete a second form immediately after the first (or at all). Put yourself in your web site visitor's shoes, and walk through the entire experience of visiting your site for the first time. Would you do what you are asking your visitors to do?

6.        Traffic - Agents who are driving hundreds, or even thousands of unique visits per day to their site may be just fine with forcing registration early in the process, because they have the numbers to justify the higher bounce rate. Conversely, sites getting only a handful of daily visitors might benefit from leaving registration as strictly voluntary.

Ultimately, it boils down to personal preference, and what fits best into your business model. If you are driving lots of traffic and have the resources and systems to scrub a lot of leads, then a more restrictive setting may work for you. You may get a high bounce rate and lots bogus contact information, but that may not matter if you are still winning customers from it. Or maybe you would rather build trust with web site visitors by offering access to good listing information and tools before requiring registration. You may find quality is more important than quantity if your visitors are permitted to assess the value of the IDX search before being asked for their information.

If you are struggling to decide what settings will work best, feel free to experiment. You can adjust your settings at any time, so try different strategies and combinations of settings until you find the right mix that works for you. And if you have any questions, feel free to contact us.

The Tip of the Week blog posts every Friday morning. Each Post is labeled "Easy," "Intermediate," or "Expert" based on the concept being discussed. Blog posted originally on Thursday at http://blog.wolfnet.com