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TODAY'S OTHER NEWS

OnTheMarket claims 12m visits in March - double figure in February

OnTheMarket has this morning issued a statement claiming that its portal traffic reached circa 12m visits during March - more than double its February visits. 

OTM uses Google Analytics figures for its assessment.

OTM’s statement goes on to says that this is still “early days” following its float on the Alternative Investment Market but claims directors consider the figures “very encouraging and expect momentum to continue over the coming months through a combination of the increase in marketing and the traffic generated by increases in branches signing up and listing properties.”

The statement adds that the portal’s growing customer sales team will, by the end of April, be double the size it was early this year, “increasing its capacity in the field to engage directly with the thousands of small and medium-sized agent firms which make up the majority of the market.”

It makes no reference to the portal’s share performance, which has seen it drop significantly from its 165p launch price on February 9 to a close yesterday of 108p.

Ian Springett, chief executive officer, says: "We are very pleased to have delivered a major uplift in visit traffic in the first full month post-IPO. The early signs show that even before the full ramp up of marketing spend, we have been able to generate significant increases in our levels of traffic to the site. We now look forward to a period of investment in marketing to build effective consumer engagement with the portal and will deploy more resource to proven marketing activities to attract more and more property-seeking consumers to OnTheMarket."

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