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OnTheMarket announces doubling of traffic to site since flotation

Land Insight to 17 April NS

OnTheMarket this morning announced a sharp rise in traffic to its site last month, with 12m visits during March.

It said this was more than double the traffic in February – when it was admitted to AIM – or in March last year.

The statement to the stock exchange said: “The directors consider this growth to be 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.”

It added that OTM continues to grow its agent customer sales team. It is envisaged that the team will have doubled since flotation by the end of this month, “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”.

CEO Ian Springett said: “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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Source:: OnTheMarket announces doubling of traffic to site since flotation