In the latest in our series of conversations with industry experts we dive deep into the world of Co-registration with the help of Hein van Vroenhoven from Response Concepts. If you’re interested in Co-registration then this is for you. We cover the basics and build up to the big stuff, going deep into how the industry works and how you can make it work for you too.
- What is Co-registration and how does it work?
- What is unique about co-reg leads in comparison to other types of lead generation?
- What are the typical challenges you face in co-registration?
- Are there particular niches or verticals where co-reg leads work well?
Below are some abridged extracts and key ideas we explored during the conversation, but be sure to check out the whole podcast if you want to learn even more.
What is unique about co-reg leads in comparison to other types of lead generation?
Hein van Vroenhoven: If you look at how co-registration sits within the marketing mix, co-registration is all about impulsive responders versus more planned responders. If you know specifically what you’re looking for you go to Google, which is a planned response. But if you’re looking to grow your client database beyond those consumers that know exactly what they’re looking for then you need to be looking at different methods to grow that client database and co-registration is an effective method of generating new clients.
It’s all about the pyramid model. The AIDA model. Awareness, Interest, Desire, Action. We move consumers up that sales funnel. We detect an interest from a consumer in a particular product or service, that our clients bring to their attention. And from thereon they need to work with those leads and move that particular consumer up the pyramid.
It’s an interesting point. I guess rather than looking at it as the quality of the lead generation it places more impetus on the sales channel to move the consumer to the next stage?
Yep. I mean there are obviously other methods to generate better qualified leads but they are a lot more expensive, so if you’re looking to grow you prospect database of consumers who are expressing an interest in your product, then co-registration is a very effective method of doing so.
You keep the cost very low because you are sharing all the costs of the online landing pages, of generating the traffic. All that cost is shared by all the clients that participate.
I think it’s worth explaining exactly what co-registration is at this point. What is co-registration and how does it work?
Co-registration means there could be a particular site that consumers arrive on, and there are multiple offers being promoted by different companies. When the consumers go through that journey they see a range of varying offers they reply to, not a single communication from a single company. The costs are shared by all the companies participating in this particular publication or campaign.
How do you typically draw visitors in on a co-reg site?
In order to generate the volume of leads and registrations that are being generated - which are fairly large numbers - the way to do that is to offer the consumer something. There needs to be something offered in return, so usually this is a prize draw. It can be related to a particular product, but in general it’s a prize draw as the generates the attention from consumers. They will then interact because they want to win something. They will the fill out their details on a form - with this all in accordance with GDPR - consumers are then invited to go through the co-registration page.
What are the biggest challenges faced in co-reg?
The proper consent needs to be obtained from the consumer and needs to be in line with the GDPR rules that are in place since 2018. This is what all of clients are looking for. This is paramount in the industry.
It’s also about the return on the investment. Any company taking the data will, over time, look at the investment being made and to see if enough customers have been obtained to offset the cost for generating those leads in the first place.
It’s all about generating new customers, which is why I do a lot business with broadband customers in the UK. Virgin, Sky. The telecom companies. Vodafone, O2. The energy companies. All of those companies are always looking for ways of generating new clients in the most cost effective manner, and in terms of generating a big number of leads on a consistent basis, co-registration is an effective method.
Be sure to check out the full conversation by listening to the full podcast below. Or check out similar podcasts in different areas of lead gen by subscribing to the podcast for the latest episodes.