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Angie's List- It's now free for consumers, great news for small businesses



In this blog we take a look at Angie's List; their market penetration, the advice history from Pegasus Ventures and finally valuing an Angie's List advertisement for the local small business owner.

Market Penetration

In the first quarter of 2016 Angie's List, a publicly traded company, reported 3.3 million paying subscribers, an increase of 7% over the same quarter last year.

And Angie's List announced something great; the company now offers free memberships nationwide for it's new Green Subscription; potentially giving millions more access to the more than 10 million Angie's List reviews while unleashing a potential to obtain millions more reviews from the new subscribers.

"This is a transformative moment for the new Angie's List as we welcome more consumers into our community so they can experience the industry-leading value and unique services that we provide," said Angie's List President and CEO  Scott Durchslag  at a launch event in New York. "Now with our new offerings, the 10-12 million visitors coming to our site each month looking for help with their home will be able to more easily find the best local service providers."

"We completed our technology platform migration ahead of schedule, have quietly had our reviews paywall down, moved our existing members into the new tiers and have been signing up new members. This enabled us to assess organic demand and to scale the new platform more gradually, ramping up to our integrated marketing launch..."

"I am impressed with how enthusiastically consumers are embracing our new offering, and delighted with the strong growth in new memberships and engagement we are seeing. Since dropping the reviews paywall, a number of key member metrics are re-accelerating. In the most recent week, new member sign-ups increased nearly fourfold compared to a year ago and, among those members, unique visits more than doubled. In that same period, unique members searching have more than doubled and the number of service provider profile views from those members more than doubled. Although these are early days, the data is very encouraging." he added.  




Webmaster Advice from the past- what's changed?


Over the last decade Pegasus Ventures advised clients to stay away from Angie's List. Yes, this unique player carved out it's own space with a fantastic idea, but who pays for this information? How deep into any community did Angie's List reach? Look at the Better Business Bureau, providing the entire country with reviews at no cost. Even a non-BBB member gets rated after coming to the attention of the Better Business Bureau. Yet, the BBB fails to provide solid, consistent information on many businesses, especially newer small businesses.  The service offered by the BBB, frankly, also lacks widespread recognition for their business reviews. To Pegasus Ventures investing with Angie's List seemed hopeless for those looking to get back their investment times 10.  (If one figures advertising is 10% of income)  Even with over 3 million paying members how many consumers in a specific town needing a specific business pay for membership with Angie's List?

The BBB proves valuable  to some, like Pegasus Ventures customer Chem Brite Pressure Washing and Painting.  The BBB works for Chem Brite  because of long membership, superior service, a link to Chem Brite Pressure Washing and Painting review on the BBB website and Chem Brite puts the information out in local advertising ensuring potential customers click to see the A plus rating. Without a potential lead paying, even the best Angie's List review remains invisible.

BUT  IT'S FREE FOR SUBSCRIBERS NOW....Does that change the advice?

Yes.

Angie's List powerhouse advertising over the years earns huge name recognition over more than a decade. Angie made us aware of her company on television, radio, the web and beyond.  Angie's List now leverages name recognition with a free subscription option and Pegasus Ventures believes Angie will pick up millions more subscribers and millions more reviews. In other words welcome to a new ground floor for Angie's List.

Angie's List- Value advertising smart!



So, absolutely try Angie's List! Consider what percent of income goes into advertising. As a guide, if 5% of income goes to advertising than every dollar invested must return $20. Survey local competitors listed on Angie's List, read their reviews, maybe even give them a call to ask the Angie's List response they get.

Still, beware. Give an Angie's List ad time. Limit your purchase. Measure results, but keep your eye on the long term don't expect instant results. Promote good reviews on social media, your website and let customers how to review your business on Angie's List.

Be smart. Working with sales people at Angie's List? Buy value not vanity and not the highest priced option. Making Angie's List work also means integrating with other local advertising, and as mentioned earlier, with social media and your website. Be bold, yet cautious and above all put aside time to measure results regularly; or delegate this to one of your people to report back regularly both on progressing integration and metrics Angie's List makes available.


Published by:
Pegasus Ventures Copyright holder: Pegasus Ventures on 8/1/2016


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