So, what exactly is Ping Post? Simply put, it is the fastest way to buy leads and sell leads. The process starts when a lead seller sends out a “ping”, a snapshot of the lead containing just enough key information for lead buyers to assess its quality. A “ping” should not include any personally identifiable information (PII) about the consumer. Lead buyers can then evaluate the lead based on their specific criteria, like geographic location or vertical-specific data, such as homeownership status for home insurance leads. Once lead buyers have evaluated the lead, they place their bids, and the lead seller selects the highest offer. The lead’s identity and contact information remains confidential until the full lead data is “posted” to the winning bidder.
If you’re imagining a back-and-forth negotiation between the lead seller and lead buyers, think again, this is a lightning-fast transaction with no direct communication between parties. Let’s take a look at an example of a Ping Post auction in action: Assume you generate leads for mortgage brokers. You have a network of buyers interested in purchasing potential mortgage applicants. When a lead is generated, you send a "ping" with partial information to your lead buyers, which might include:
Each lead buyer receives this anonymized data and quickly evaluates the lead's potential value. They submit real-time bids based on how well the lead matches their target customer profile. For instance:
Once all bids are received, the highest bidder wins the "post" - full lead details including contact information, allowing them to directly pursue the potential mortgage applicant.
Using Ping Post as part of your lead generation strategy ensures efficient lead distribution, competitive pricing and targeted matching between leads and buyers. Now that you’re up to speed on how Ping Post auctions work, you’re ready to start thinking about how you can build your own revenue-generating Ping Post operation!
What technology is required to buy leads or sell leads via Ping Post?
Lead sellers need to have an API system or use a CRM software that can support three critical functions: send partial lead data (the “ping”), process real-time bids, and securely send full lead details (the “post”). Similarly, lead buyers need to have a platform that can receive “pings”, return a response (the buyer’s bid) and receive the “posted” lead data.
What you should know before starting to buy leads and sell leads?
The Federal Communications Commission (FCC) has adopted a new One-To-One consent rule that takes effect on January 27, 2025 which requires explicit, individual consent from consumers before their contact information can be shared or sold for marketing purposes. Discover how Ping Post can operate under the new FCC requirement and check out how SIT-BAC can help you stay compliant.