Zoopla has put out another press release highlighting the traffic to the OnTheMarket site. This time, looking at the week by week traffic figures from HitWise. While the traffic numbers don't look good for OnTheMarket, the business of Zoopla must be hurting a little given the continued bombardment of press releases about OnTheMarket. We wonder what next week entails.
Here is the press release ...
The latest Hitwise data shows that traffic to OTM last week fell by 25% compared to the previous week, highlighting that the new portal is so far failing to gain traction with consumers, despite the scale of its launch marketing campaign. Traffic to rival sites was up over the same period with Zoopla Property Group (ZPG) and Rightmove (RMV) seeing traffic grow by 4% and 2% respectively.
Traffic to OTM has been falling steadily for the past few days, following the end of its 6-week launch marketing campaign. And with two months since its launch, far from closing in on market leaders ZPG and RMV, the gap is now widening. ZPG’s audience remains 21 times larger than that of OTM, handing a significant advantage to those agents that have stuck with the market leaders.
Traffic stats for w/e 22nd March (Hitwise)
Perhaps more troubling for OTM is the apparent lack of engagement by those visiting its website, with an average of only 1.5 pages viewed per visit last week versus 7.1 on Zoopla, according to Hitwise. ZPG’s total consumer engagement last week was nearly 100 times that of OTM with 21 times more visits and almost 5 times more content viewed per visit.
Lawrence Hall of ZPG said, “We are data and results driven and will leave others to make wild and unsubstantiated claims and promises. It certainly appears that over the past couple of weeks things have gone from bad to worse for OTM with traffic falling notably from an already low base and very low engagement levels per visit. Two months in and the data shows clearly that OTM is a very expensive and ineffective marketing channel at this point.”
“Every day that OTM restricts its members from spending their marketing budgets freely those agents are spending far more and getting far less than they should. That makes those businesses less efficient and competitive and the longer that OTM takes to act in removing the marketing restrictions placed on its members, the greater the damage it is causing to those businesses and the bigger the advantage it is handing to their competitors.”