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OnTheMarket’s acting chief executive says the portal will embrace more social media and innovative marketing strategies in the coming period.
Yesterday the portal told shareholders that in the six months to July it had been obliged to cut imarketing spend from £6.6m in the same period of 2019 to just £2.2m this year, as the company scrambled to make savings as Coronavirus hit the economy and the housing market temporarily closed.
However, at the same time, the portal recorded several months of strong leads and Clive Beattie – who returns to his role as OTM chief financial officer when a new CEO arrives in December – now feels that the challenger portal has become increasingly established and so requires less traditional high-cost advertising and more sophisticated marketing.
“Obviously there’s more we need to do on brand awareness and there’s a high recognition of Rightmove and Zoopla because they’ve been operating for so long, but many more people have downloaded our app and are aware of the New & Exclusive feature” he says.
Beattie, in an interview with Estate Agent Today, says OTM will now embrace more social media in the coming months, and has already offered assistance with …
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