YourParkingSpace was first launched in July 2006 as a platform for renting out empty driveways. With additional investment, the brand was re-launched in 2014 with a unique proposition allowing motorists to find and book hourly, daily and monthly parking UK-wide. The proposition now encompasses a wide range of options including driveways, private off-street parking spaces, lock-up garages and, significantly, spaces from property management companies and commercial car park operators.
Campaign objective and project background
At the end of 2016, to support further business expansion, YourParkingSpace undertook a digitally driven advertising initiative targeted by postcode, and supported initially by an in-house team. It quickly became apparent that the in-house resource could not provide a scalable solution, given the level of demand and the untapped potential within the market. Without an efficient process to handle inbound leads, the original marketing investment would be lost so the model needed to cope not only with potential high volumes but also fluctuating volumes of leads. Leads needed to be qualified and followed up in a timely manner, and moved quickly down the pipeline for conversion, rather than building a growing pile of rapidly aging enquiries.
As a result, the decision was made to engage a telemarketing company will a flexible resource that would provide a longer term scalable model. After an initial pilot and mixed results with one agency, The Telemarketing Company was engaged due to their experience and expertise supporting similar business models, where robust qualification and efficient processing of high lead volumes were key to success.
A briefing took place at the Brighton offices of The Telemarketing Company and a team of agents was trained on the client proposition and the requirements for executing the campaign. The objective of the online advertising campaign was to generate leads from those interested in renting out their unused spaces, targeting enquirers in postcode areas with a shortfall of parking space. The Telemarketing Company was tasked with calling the leads generated to present the full proposition and convert them to registrations on the YourParkingSpace website. Having gained agreement from prospects, the agents would gather the necessary information and create the online client profile during a live call. Once the profile was set up, agents would email a draft to the prospect for approval within 24 hours and deal with any relating questions.
To ensure a strong return on investment for the client, it was critical to achieve high conversion rates alongside high volume throughput of leads and this was a key focus in the early stages of the campaign. Through close collaboration and regular client feedback, supported by call recordings, the approach was refined and the process streamlined to allow agents to provide the right level of information without impacting conversion rates. The agents needed to explain the free offer and guide the client on setting their own price, providing examples of similar sites in their geographical area. Although converting leads was the priority, the quality of conversion depended on a positive customer experience and prospects feeling secure in following that process.
Once a balance was found between a consultative approach and lead conversion, the campaign steadily gained traction. 1749 leads were processed in the course of the 18 week campaign. A total of 581 hours of calling took place achieving the target run rate of four conversions per hour (£6.00 - £8.00 per conversion) by the end of the campaign, with an overall average of three conversions every hour. As a result of the streamlined process, importantly, 1732 results were generated on the first call made, providing the efficiencies needed to support ROI.
YourParkingSpace is pleased to have a proven model that can manage high volumes of inbound digital leads and respond to them in a timely, consistent, efficient and continuous fashion. They are now focused on developing this into an ongoing revenue stream for the future.