How Deep Data Analysis Can Help You Generate Highly Targeted Leads That Convert
Put yourself in the shoes of your prospects for a moment. They’re being followed around the internet with your ads, they’re getting phone calls and texts from you, and are receiving emails pitching your products.
Some of them will convert, for sure…
But chances are, most of them have little interest in your products. Yet, you’re still targeting them… And it’s costing you a fortune.
But you’re not alone.
A recent study from HubSpot showed that 73% of all leads, seemingly regardless of how they’re generated, are complete garbage; and only 27% of leads are qualified, and “sales ready”.
That’s right. Just 27% of leads are qualified and ready to be converted into buyers… whether it be through phone sales, display ads, social media, email, direct mail, or SMS text.
This means that for every dollar you spend on a lead, up to 73 cents of it may as well be tossed in the trash. And this doesn’t even count the money you throw away marketing to these dead leads after they’ve been generated or acquired.
But since lead generation is probably the single most important part of your company’s sales cycle, you can’t simply stop generating and marketing to new leads just because most of them are of very poor quality.
You can, however, generate and market to your leads in a smarter, more profitable way, like Brad Pitt did. Yes, that Brad Pitt.
We’ll explain in a moment.
Now, you probably already know a whole lot about your customers. What they buy, when they buy, and where they live, for example. Of course, modeling your lead gen efforts after your current customers is a no brainer, but unless you have a strong in-house data analyst, you’re probably missing the mark here. Because believe it or not, the surface data really doesn’t tell you all that much.
Of course, a decent data analyst’s salary could be north of $125K a year, so affording one can be a challenge. But having a strong data analyst, if your budget allows for it, will truly transform your lead gen efforts, conversions, and sales. That’s because most companies are doing a 6 inch dive into a 10 foot pool!
But, if hiring a data analyst is not something you’re ready for, you should instead partner with a data analysis company that focuses solely on lead generation and conversions, like Conversion Media Group. CMG will do a 10 foot dive into that same pool and uncover much of what you may be missing.
More about Conversion Media Group in a moment. First…
Deep data analytics can help you truly understand your current customers, what they really want to buy, when and how is the best time to contact them… and how to properly model your ideal leads based on the hidden data within your individual customer profiles.
Going granular into the data reveals not only who your ideal leads are, but can tell you about the kinds of products you should be selling to your current and future customers, even if you’re not selling them yet.
Data analysis is a growth generator. Take the movie “Money Ball” for example. This Hollywood blockbuster starring Brad Pitt was based on the formulation of the 2003 Oakland Athletics.
But it wasn’t a baseball movie.
It’s the true story of how deep data analysis transformed a very weak baseball team into a contender.
While most of the baseball scouts of the era were busy “modeling” their new player acquisitions (leads) after current players with good track records, the analytics team in Oakland found a new way to build success.
They dug far deeper into the data than anyone else had done before. As a result, they were able to assemble a team that looked on the surface to be “non-qualified” but were, in fact, highly qualified.
So much so that they went on to win 96 games and make the playoffs.
Thanks to finding value in data, the analytics team at the A’s were able to accomplish this amazing feat with one of the smallest budgets in all of Major League Baseball. Today, every MLB team employs an entire division of analysts to search through mundane data to find value.
Your business should too.
But you don’t need to hire an in-house analyst when you can partner with a group of data analysts at Conversion Media Group… for a fraction of the cost.
Think for a moment. If only 27% of your leads are truly qualified, what would happen to your conversion rates and sales if you could increase your number of qualified leads by just 25%?
It would be a game changer, right?
This is where CMG’s data experts come in. Our deep data analysis allows us to generate highly qualified, highly targeted leads for you. Coupling your data with our data creates an end-to-end feedback loop which uncovers hidden gems that otherwise go unnoticed. We can dig into your current customer profiles to uncover the truly important information that’s hidden within, then properly model and generate your ideal leads.
Then hand them directly to you, in the micro-moment, when they’re ready to buy.
Of course, our data analytics can also help you discover the products you should be selling, and which you should abandon, how to increase your conversion rates and, most importantly, how to help boost your sales.
Conversion Media Group is data.
Now, before you spend $125K on an in-house data analyst, give CMG a call. Our highly accomplished team is ready to help you grow your business quickly and efficiently.
But even if you already have an in-house data analyst, give us a ring and we’ll help him or her uncover the hidden data-gems that are often overlooked. The gems that grow businesses.