Have you watched the hit Hollywood film, Moneyball? In this baseball-themed cinematic effort, leading man Brad Pitt plays Billy Beane, whose mediocre pro baseball career leads him off of the baseball diamond, into the dugout and the back rooms. He becomes a baseball manager for the Oakland Athletics.
Beane is desperate to succeed and he’s a visionary. His powerful drive and his unique mindset are the catalysts for his new take on baseball management. Suffice it to say that his approach was innovative and that it was viewed with derision by many around him. No one is more surprised than his myriad detractors when his new system pays off in a big way!
This story was inspired by true events and the real Billy Beane believed that analyzing statistics was the secret of building the perfect team! His evidence-based, data-driven approach to creating a winning team is now the stuff of legend and you may utilize the same principles that Beane adopted in order to generate, cultivate and market leads for your business!
It’s all about using the Moneyball approach in order to grab the best leads.
Today, we’re going to walk you through the process, step by step. Our guide to using Moneyball techniques in order to create stellar lead generation strategies is designed to empower you as an entrepreneur.
Data Management & Analysis for Lead Sourcing
Data is digital information which may be utilized in order to build an ideal marketing strategy. For example, if you want to get more value from search engine optimization (SEO) and pay-per-click (PPC) campaigns, as well as other forms of Web marketing, knowing how to use data for the purposes of analysis will be vital.
Data exists in different forms. One example is data which helps you to get to know which types of people buy your products. This data stipulates genders, income levels, buying patterns, ages and product choices. When you get to know your “ideal customer” via data analysis, you’ll be able to market to that type of person and attract more business. You’ll also pique the interest of loyal customers and prime them for more conversions.
Another example is using a program, such as Google Analytics, SEM Rush, Majestic Analytics or Ahrefs. which allows you to see search traffic and trends, as well as where website visitors are coming from. Knowing which pathways they took in order to get to you will help you to understand how your existing marketing strategies are panning out.
For example, if a lot of people are coming to your website pages via your business Facebook page, you’re doing something right at this particular social network and may want to put more emphasis on this type of marketing!
Knowing how to collect and use data is so important, just as it was for the Oakland As during the pivotal Moneyball era, and there are so many ways to leverage data for the purpose of effective lead generation!
Effective SEO Dashboards
In the past, marketers had to scrounge for data via “snail mail” direct mail campaigns, paper-based customer satisfaction surveys and face-to-face customer interactions. Today, data is digital and there is tons of it available. Part of using data effectively is deciding which data to track and collect. A plan is needed in order to reduce the risk of data overload. A group of data categories are known as a metric and choosing the right metrics is one big piece of the Web marketing puzzle.
As you can see, knowing which data is relevant and then using it in order to boost marketing strategies, search engine optimization and pay-per-click campaigns is part of winning at sales in the Internet Age. A lot of data may be collected via Google’s free Analytics program. It may also be collected by data mining at your official website and on social media platforms.
However, logging into to Google Analytics can become cumbersome and confusing sifting through tons of numbers on a daily basis. This is why it’s more efficient to create custom dashboards for your lead generation efforts.
Google Analytics offers users a method to create customized dashboards that will enable them to drill down on the various types of data & reports needed to be effective in business.
Organic Traffic Reporting
For example, analyze key performance indicators such as organic traffic. Use this type of report that will enable you to filter directly on organic search sessions. This type of traffic is the most important traffic because this is most likely the traffic being sent to your website without 3rd party marketing efforts.
Search Engine Reporting
Another example of an SEO dashboard is the search engine breakdown. Yes, there are more search engine platforms than Google, although Google does have the largest market share. Analyze other platforms such as Bing, Yahoo, Ask, DuckDuckGo.
Referral Traffic Reporting
One measure of lead generation that is often overlooked is referral traffic. If your business has launched an outreach campaign to build your brand and authority, it’s important to understand whether your efforts are building a stable flow of referral traffic.
Lead Generation Strategies
To add data-generating value to your website, create an opt-in form for email subscribers, if you don’t have one already. Once customers or new leads are on your email subscriber list, it’ll be easier to find out things about them and warm them for sales. Sales records should also contain a lot of useful information about who buys, when they buy and what they buy.
The overarching goal is to mine for data wisely and then utilize mined data intelligently, in order to make smarter business choices when planning out your next lead generation strategies, or while deciding which current marketing strategies are helping you to achieve your business goals.
Boost Leads With Social Media
There are plenty of great ways to boost leads with social media. One strategy is a monthly giveaway. This type of contest may be organized via Rafflecopter or a similar interface and it is designed to dramatically increase your reach (i.e. access to new leads) by publicizing your company via social media.
Participants will need to promote your company online in order to gain entries. This type of lead generation gambit is win-win for both sides and one contest per month should be enough to create impressive results.
Keeping content fresh and posting regularly will also help a lot. So, commit to adding posts, links, photos, video and other promotional materials on social media in a scheduled and organized manner. Any feedback that you receive is vital data which may be utilized for the purposes of streamlining and improving lead generation.
Everything that you post should highlight the strengths of your company and be in accordance with your company’s image and mission statement. Consistency is important.
Lead Generation Tips for Facebook
Gather leads via Facebook is one area where businesses can gather high quality leads. Simply because, when Facebook started out, it required real live users with verifiable information. This social media platform started out being college students who had a verifiable college “.edu” email address.
When marketing to leads via Facebook, you should be very responsive to others, by thanking them for their likes, shares, comments and other interactions and reciprocating in some way. It’s also important to negate the impact of any bad feedback quickly and competently. In general, this means soothing the unhappy customer and neutralizing the ill-effects of criticism. Online reputation management is an art and science and there are lots of tips out there on how to do it right.
In terms of what you post, everything should be politically correct, unless your company is all about edge and rebellion, so keep your posts clean and inoffensive. Also, be sure to use lots of images, videos, links and great copy in your posts. Post at least twice per day if possible. People want fresh content. However, it has to be informative and/or entertaining. Consider hiring someone to do it for you, if you don’t have the writing skills or savvy to do it correctly.
Use your customer data in order to target the types of people who are likely to buy from you.
How to Reduce PPC Cost Per Lead
With AdWords, you pay up when someone clicks on an ad. Lots of entrepreneurs want to reduce the amount that they pay via this type of PPC campaign. There are formulas for calculating cost per lead. For example, the formula is cost per click divided by conversion rate equals cost per lead.
- Step 1: In order to decrease your price per click you need to test your ads. The higher click through rate on your ads, the more visitors you will get. Potentially, this will lower your cost per click & increase your bid position.
- Step 2: Secondly, you need to refine your ad groups within your campaign. A huge mistake many businesses make is creating multiple ad groups and creating 30 or 40 keywords in one campaign. The problem is that the campaign will not be targeted enough, which lowers your quality score. Ensure to use 5 to 10 keywords to dial in and have a precise approach.
- Step 3: Lastly, reduce campaigns and ads that are simply not producing. You may have ads that look good, or sound good, however, they are not producing results or generating searches. Utilize a conversion tracking tool to analyze the keywords that are costing more money than the sales being generated.
Decreasing this cost by even twenty percent will make a big difference!
Hit a Lead Generation Home Run
Now that you know how to use data and evidence in order to grow your lead generation campaign, you’ll be ready for a Moneyball-style happy ending! It’s all about capturing the right data, analyze that data & implementing a targeted, and precise approach to generate leads. This will enable businesses to drive smart marketing and gives your business access to tons of new leads.
When you follow these guidelines in your business, you’ll hit a home run with SEO, PPC and other types of web marketing lead generation strategies.