Barely a day has gone by without Rightmove being in the news over the last few weeks. Whether it be the gathering storm of its inventory suppliers threatening to cut it off, its share price capturing very rare negative headlines or its bungled attempt to placate agents, there has always been something.
It’s fair to say Rightmove has been getting some stick, but today it has come out swinging by announcing its ‘biggest ever marketing campaign’ in an email to agents today. The big news (or lack thereof) as far as agents are concerned is that although there are sympathetic noises coming from the company, there are no concrete details about fees in today’s email. Commercial Director, Miles Shipside had this to say:
"We recognise that agents will have a difficult period after existing pipelines complete. While we’re only five weeks into our four-month 75 per cent discount, we’re closely monitoring the situation as we're profoundly aware that our customers’ revenue growth is critical to the way we all move forward in these uncertain time"
What is included in the email are ten points of action that Rightmove will be committing to broken down into three sections:
- Relaunch Email Alerts to over two million home-hunters who have active alerts set up
- A video strategy to promote leads and try to reduce unsuccessful in-person viewings.
- Re-assuring home movers that viewing is safe
- Sharing early local sales demand indicators with agents
- Faster qualification of tenant leads
- Detailed analysis of the source of leads that result in a sale or a let
- An “introductory rate” with external suppliers Moneypenny and Viewber
- Training for the new normal and social distancing through webinars
- Biggest ever national marketing campaign “using the strength of our brand and investing in our biggest ever national advertising campaign”
- And a new property details page which will offer more focus on agents’ brands, photos and video content.
After a torrid few weeks, Rightmove will be hoping that agents will be pleased to hear that it is opening its war chest and investing in a massive ad campaign and giving prominence to their brand on detail pages. Whether today's announcement reassures agents wavering on the edge of cancelling their subscriptions though will be another matter.