How Do Brands Acquire Consumers From Marketplaces?

It takes a lot of money to directly market a product or service. Commercials, billboards, and even online ads can cost millions of dollars and aren’t guaranteed to have a good return. However, there is one area that many businesses overlook: marketplaces.

The Benefits of Marketplaces

It’s no surprise that the “word of mouth” feeling of being introduced to a related service carries so much weight. Think of how many review sites you can name off the top of your head to recommend food options or even movies. Other people’s recommendations carry weight, making it extremely impactful to hear about a new brand in a familiar way.

Marketplaces can be an incredible pool of people that are prime for conversion. Just think about it — people there are already shopping for products or services that may be related to what you’re offering. Here’s an example: let’s say a person was looking to adopt a pet from a marketplace specifically devoted to helping people find animals. If you offer pet insurance, wouldn’t it be beneficial to communicate with people who intend on adopting an animal?

From a consumer perspective, marketplaces are a great way to find the right service and then be introduced to the right company. And yet, these consumers are constantly at arm’s length from businesses that only do direct marketing simply because these individuals are shopping on different sites that the business can’t access.

Take the company EverQuote for example, which represents more than 100 insurance carriers, works directly with 19 of the 20 top auto insurance brands, and has more than 8,500 direct insurance agents. They represent about 7% of the $6.5B total digital spend that carriers rely on, servicing tens of millions of consumers a year, and their business brings sellers together with interested buyers. Essentially, they act like a HomeAdvisor, Zillow, eBay, or Amazon type of business, thus making them one of the strongest insurance markets ever.

How Drips Helps Brands Cut Through the Noise

Entering a new marketplace can be a challenge if a company hasn’t occupied that space before. There are a lot of compliance-related hurdles to jump through, especially when it comes to determining how and when to contact (or not contact) an individual. On top of that, the experience has to be good for the customer as well. But the biggest issue is perhaps competition with the amass of robo-dialers that are leveraged by companies that purchase them.

Fortunately, Drips can help by doing what we do best — making one-on-one connections with audiences at scale without the added headcount. Our conversational outreach approach allows us to connect with consumers on their own time, when they’re more receptive. Our AI-powered platform is built to hold conversations that last for days or even weeks. (Learn how Drips keeps audiences engaged.) And if a person isn’t interested, we often learn why when we’re removing them from a campaign.

Drips gives you a whole team to build a campaign in a way that resonates with your audience. We also help to incorporate best practices into all our outreach strategies that are compliant with state and federal laws.

Want to see Drips’ platform in action?

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