How to Use Ping-Tree Software for Business?
Increasing revenue is the primary purpose of any business, whether real estate, insurance, or consulting. This can be done effectively with Ping Tree, a unique lead distribution tool allowing advertisers and publishers to close the best possible deal at the moment of the sale.
With ping tree software from companies like Phonexa, you can distribute leads to a network of buyers while setting up price points and multiple other parameters to shape your offer. With other components of Phonexa’s all-encompassing Call Logic and Lead Management software, Ping Tree automates lead trade on both ends to guarantee that lead buyer, lead sellers, and leads themselves are better off after the deal.
However, as much as Ping Tree is valuable for buying and selling leads strategically, it may seem overly complex for those unfamiliar with this process. If you haven’t had any experience with Ping Trees, this article is for you. We’ll explain Ping Tree, how it works, and how it can help you grow your business.
Ping Tree 101
Marketers commonly struggle with quality leads. Generating leads is the top priority for marketers, whereas over half the B2B professionals see increasing the lead volume as their top priority.
But it’s not enough to generate leads – you also have to know how to sell them, assuming you are a publisher. Selling leads is not easy by any stretch of the imagination, especially when the process is not automated or set up properly.
It’s only possible to sell leads effortlessly, at the best price, and under a reasonable timeline if your process is automated and scaled. Ping Tree does both automation and scaling.
So what is a Ping Tree?
- Ping Tree is a real-time distribution of leads from sellers to buyers, using Ping Post, a method of selling leads based on various criteria set up by publishers (lead sellers) and advertisers (lead buyers).
Ping Tree software allows choosing the parameters of the sale or the purchase so you can get high-intent leads you are ready to pay for or get as much as you were expecting for the sold leads. Meanwhile, all sold leads are connected to a credible and relevant advertiser.
How Does Ping Tree Work?
- Leads are generated through a contact form, landing page, e-commerce newsletter, etc.
- Leads are validated so only checked leads are released to the market.
- Checked leads hit the market and are sold according to the parameters set by merchants and publishers.
The sale process goes as follows: First, leads are offered to the most generous relevant advertiser that fully satisfies your settings. If this advertiser doesn’t buy, the next best advertiser receives the offer, and so on. On the other side, merchants are pinged when leads are released to the market. Merchants also can choose multiple settings – a number of leads to buy, price per lead, demographics, location, age, gender, etc. – to automatically ignore the leads they don’t want to buy.
Simple and Advanced Ping Trees
Not all Ping Trees are the same. While almost any Ping Tree will allow you to sell and buy leads, there might be substantial differences affecting the overall performance of your campaigns. For example, simpler Ping Trees work great only on the side of lead buyers, whereas lead sellers have to be content with limited settings.
On the other hand, up-to-date Ping Tree software – such as Ping Post Calls 2.0 featured in Phonexa’s all-in-one marketing suite of solutions – provides the same functionality for publishers and advertisers.
- Advanced Ping Tree software allows publishers to sell leads at the highest price at the moment of the sale, increase the accept and sell rates, decrease lead returns, and more.
- Advanced Ping Tree software allows advertisers to increase the conversion ratio, double down on profitable campaigns and eliminate those lagging behind, and improve buying strategies.
But that’s not all. Leads themselves can benefit from an elaborate Ping Tree system because the latter will connect them to the most relevant merchant. They may not know the nuances, but the beneficial result will be a perfect user experience that may not only convert but also turn new clients into loyal brand advocates.
How Ping Tree Affects the Customer Journey
It’s imperative that your customers are satisfied with what you offer. In general, they are interested in:
- Getting connected to a product or service in the simplest ways possible
- Getting the information they need from a knowledgeable person
Ping Tree serves these goals by redirecting leads to a relevant agent, product, or service. On the lead’s side, nothing impedes the perfect customer journey. With no delay, you can distribute your leads to several businesses at the same time, all fighting for the client’s attention.
What Businesses Can Use Ping Tree?
Whether you sell or buy web or live call leads, you can benefit from a Ping Tree system incorporated into your lead management software. It doesn’t matter whether you sell apparel or real estate, or you are a lawyer – as long as you have customers, Ping Tree can be a game changer for any business.
Keeping in mind, though, that Ping Tree isn’t a standalone product but an integral part of lead management software, which means you will unlikely be able to use Ping Tree separately from other products.
Read on to see how Ping Tree fits the bigger picture.
Ping Tree as a Part of Lead Management
To understand how Ping Tree integrates into a lead management system and what role it plays there, you have to know how this system works in the first place.
Most lead management systems include three major parts: lead tracking, lead distribution, and lead analytics. Let’s explain these components while keeping in mind that Ping Tree mainly focuses on lead distribution.
As web leads and callers interact with your brand – click on your ads, answer questions of your IVR, consult your team, buy products from you, etc. – they leave traces of data to collect and analyze. Location, demographics, preferences, budget, age, gender, on-page activity, and other forms of interaction are captured by the lead tracking software and then used to distribute and analyze your customers.
Also, Read: How ERP Software is Needed to Run a Manufacturing Business Properly?
Here Ping Tree comes into play. The Ping Tree system automatically distributes validated leads in real time while considering the criteria set up by advertisers and publishers.
- For example, if the minimum price per lead is $100, then leads will only be offered to merchants willing to pay this or a better price. First, the most generous advertiser will get the offer, and then the offer will descend the ladder down to the minimum possible price of $100 per lead or until the match is found.
Lead analytics software interprets the previously collected data into patterns allowing you to group customers by similar parameters, whether it is location, age, gender, preferences, etc. Lead analytics help you to strategize your marketing based on your target customer groups.
How Can Ping Post Help You Get More Sales?
Ping Tree along with Ping Post can take your sales to the next level by:
- Automating the trade. Whether you buy or sell leads, automating the process will help you scale your business. Once you set up the system once, your trade can’t go awry. You will sell or buy leads in the shortest time while fitting the pre-set parameters of the trade.
- Connecting customers with the best fit. Taking care of your long-term perspectives is just as important as securing immediate profits. By ensuring your leads get exactly what they want, Ping Tree grows loyalty in your customers, let alone significantly increasing the conversion rate.
- Allowing quick adjustments if necessary. As you update your strategy, you can quickly change settings within the software so all your market moves align with your vision.
You can’t beat today’s highly competitive and ever-evolving online market if you cannot scale and automate. The more customers you have, the clearer it becomes that technologies like Ping Tree are indispensable for your success.
Businesses can leverage Ping Tree and Ping Post technologies to the point of full automation. Instead of a bloated staff of marketers and assistants, you can integrate relatively cheap software that will increase all major KPIs of your business.