The hallmark of success in lead generation is the ability to draw highly optimized leads that result in conversions. Continuous performance enhancements and adjustments made throughout the lead generation process – from CTA to conversion – are pivotal to successful campaigns for digital brand marketers. Here are several data-based optimization opportunities and targeting strategies that promote strong, successful and effective lead generation campaigns.
Understanding Data To Optimize Your Leads
Verification is an important step toward getting the best lead quality and can be the result of a mix of different validation factors. These factors should be implemented with flexible parameters agile enough to change as new needs arise within the campaign. Lead intelligence partners can provide phone and email verifications and other similar services that produce high-converting, clean leads, filtering out many unqualified leads. Assertive verification allows the best leads to make it to the “choose and use” phase of lead generation, and data is fundamental in this process.
Demographic Data
Demographics – age, race, geography – can allow for early and easy segmentation after a lead has entered the funnel. These demographics can be identified via form fields or with data appends after a CTA has been taken, qualifying the leads to fit campaign parameters. By working with a lead intelligence partner, dozens of demographic data points can be appended at the time of lead creation, offering real-time insights and potentially higher scoring leads. Once this customization is in place, brand marketers can use campaign automation to reach specific customers at a point in the campaign when they might need more nurturing or contact.
Behavior Data
Behavioral attributes, including hobbies, attitude, lifestyle and online habits, can offer insight into who is responding and how similar they are to prior converters. An additional benefit of demographic and behavioral data is that, generally, “lookalike” leads (or leads with similar demographic and behavioral characteristics as prior customers) are more likely to convert than people who don’t look like prior customers. By identifying behaviors and attributes common in higher-converting segments, consumer data enables marketers to create more tightly targeted campaigns in the future.
Disposition Data
Disposition data, including statistics on how often leads have been previously dispositioned and for what reasons, can provide insight into the likelihood of a lead to convert. In general, a lead with multiple prior dispositions is considered less likely to convert than a fresh lead.
How To Use Data For Lead Decisioning
Lead buyers can use detailed lead data via data appends from lead intelligence partners in a variety of ways. Some buyers use data to determine which leads to accept or reject, while others may “right price” leads or pay a higher price for certain types of leads that may be more likely to convert and a lower price for leads that don’t fit their ideal profiles. Plus, by understanding more about each prospect as soon as lead data enters the lead management system, lead buyers can use this intelligence to internally route prospects to the sales teams or representatives with the best chances of closing each lead type. Alternatively, some leads may be designated as strictly for email follow up, because they are less likely to convert.
Choosing The Right Data Appends For Your Business
Since most lead intelligence companies charge by the lead for data appends, lead buyers must be selective in order to choose the types of lead intelligence that will have the most significant impact to their businesses. Testing historical data is key in determining which lead appends will move the needle by identifying leads most likely to convert and weeding out those least likely to convert. Although the fee per append is often nominal, the costs can be significant when scaled. Brands should strive for positive or break-even ROI, understanding that more efficient internal resource management, like minimizing unproductive outreach from call center staff, can help keep overall costs down.
Optimizing Lead Funnels Takes Significant Time And Expertise
It can be difficult to understand all the nuances of lead optimization, and constant monitoring is key to campaign success. Sometimes, working with a professional is the best way forward for lead buyers. The Digital Media SolutionsTM (DMS) managed services team develops, executes and optimizes digital marketing campaigns on behalf of its clients, and has extensive vendor management and lead intelligence experience. The team uses Sparkroom®, a proprietary technology of DMS, to gather, translate and reformat data from multiple sources, including lead intelligence providers, to provide holistic views of marketing performance. Connecting pre-lead and post-conversion data, Sparkroom allows marketers to easily draw insights and optimize campaign performance.
Reimagining Your Lead Funnel?
Contact Digital Media Solutions today.
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More Content by Sarah Cavill
