Co-registration (co-reg) is a very popular marketing tool that leverages a preferred list or offer to generate leads for other offers.
This arrangement to share a user’s information, if and only if the user agrees, is prevalent in the financial industry. This opportunity to piggyback an offer can introduce new potential customers to a company or offer in a non-invasive, low-cost way that gives the user the power to decide if they want the connection to be made. Some co-registration programs will only display a few offers while others may display page after page of promotions.
The Pros & Cons of Co-Registration
Like all advertising channels, this type of permission-based marketing has its benefits as well as its limitations. Co-reg leads are typically less expensive, and these offers can sometimes generate a very high number of leads in a short amount of time. These offers can also be very targeted based on the initial offer or list which first generated the lead.
Despite the cost and volume benefits, co-reg puts your offer in direct competition with other offers. The quality may also suffer as a result of users who simply sign-up for all of the free offers presented. Also, since co-reg programs do not immediately re-direct the user to your site, the user may not recall your offer at the time you are able to fulfill their offer request.
How To Set Up A Campaign For Co-Registration Success
Asking your publisher or network the right questions prior to beginning a co-reg campaign can set the appropriate expectations and allow you to estimate a realistic return on investment.
1) How many offers will I be competing with?
Depending on the publisher or network, your offer could be one of few or one of many. Ask your rep if they limit the number of co-reg offers that will be shown at any one time. While some publishers may put the “all mighty dollar” ahead of their clients and add you to an ever-fluctuating list, other publishers will put a strict cap on the number of offers they will run at any one time to protect their advertisers.
2) Is the publisher able to geo-target your co-reg campaign?
Some co-reg publishers may not have the technical tools in place to recognize the IP location before showing co-reg offers. You will be responsible for paying for both domestic and international leads. However, some publishers, like INO.com, can display and charge for only the leads that fit your geographic criteria. By regulating this variable, advertisers are able to improve their return on investment as well as test new potential markets.
3) How quickly can I follow up with the offer-taker?
With co-reg, you are introducing yourself to a user that is also getting an introduction from other companies. It is important you make another point of contact as soon as you can. This way, the user remembers your offer. While your internal capabilities may dictate your follow-up speed, make sure the publisher has a way to send your leads in a timely manner. Ask them if they can send you an email in real-time with the user’s information, send you daily spreadsheets with all registrants, or a mechanism to pass the data to your database.
4) How will I determine if this campaign is a success?
While this is more of a conversation to have with your internal team, publishers recognize that co-reg is a numbers game. The campaign will be successful or a flop depending on how much you are able to monetize the lead and how quickly you are able to recapture your initial investment. These two metrics will be based on your initial cost per lead. Cost per lead will often fluctuate as a result of supply and demand.
INO.com uses a different model to price our co-reg campaigns. Although the order volume will have a great influence on price, we also take into account how our users respond to an offer. The better-performing offers will take rank over lesser-performing offers. In this case, we are able to offer better pricing to advertisers that use less of our inventory, yet generate high response rates.
Co-registration can be both an effective and efficient tool to have in your marketing toolbox when coupled with the right publisher. When the advertiser’s needs are not of primary importance, some publishers try to generate a high quantity, low-quality lead. However, other publishers, like INO.com, have the technical capability and the integrity to serve as a high quantity and high-quality lead source for financial marketers.
Director of Advertising