Enlightening 60 Day Marketplace Analysis-Observations and Options

After analyzing the national lead generation activity for the first full sixty days, we have definitely blazed a new trail. We have redefined the makeup of the leads being served up and found a baseline for creating the optimum ad series lineup.

Lets address these two items one at a time, first the makeup of the leads being served up. The conventional thinking among your typical direct response agency is to open up the flood gates and serve up the largest, most impressive volume of leads possible. That is where the philosophy ended up the last company I founded and I never bought in, and it created a tension that never receded. The purpose of that statement is not to revisit the past for any other reason than to explain the way we target today and how totally different it is. Also to remind you that you are in charge of how your ad dollars are being spent so you have options. 

Phase #2 of the evolution of the prefect ad series is now in process. Some of you all have received a screenshot of the one or two low-on-the-totem-pole, “worst converting” ads that we discontinued. We then found images performing better in other markets and replaced them with those, BUT we are now in the “inserting videos to test their conversion rates" mode. There will be a video we provide of your product, with voice over and scripts we send, so that you all can start “showing” folks instead of simply “telling” folks who you are, and encouraging them to engage. You may end up with 2-3 static ads and 2-3 videos but we will let the markets tell us by their actions which ads to run. We have known we needed to inject these for a while, and now that we have a base line and know we are only keeping high performing ads we can take the next step to refine your ads series!  

The targeting baseline is firmly established now. It’s a “real world” good news-bad news scenario/result. We’ve never seen so many grands, baby grands, players and digital requests! We also have felt a 35-40% drop in volume overall and a couple of droughts from time to time that we’ve learned how to work out of. Change being the only constant, the gestation period of the higher end leads is longer. Getting things out of the other end of the pipeline takes longer and takes a shift in method. We’ll be addressing that on the 25th in a Leads Follow-up National Workshop. The quality does come with some protocol revisions. The easy stuff has been mostly purged. It was intentional though. In questioning our customer base it was an overwhelming consensus that CPL (cost power lead) and volume was not as preferable as more “quality leads.” Now that this has been accomplished we have to learn how to work them most efficiently, thus the reason for the workshop.   

In summary, here are the digital portfolio options: 

#1: Understand that the quality is quantifiable and proven to be better, keep the ad spend/budget as is and learn to work them as efficiently as possible knowing the nature of them and that they need “more and better” nurturing. More than just constant phone calls, texts and emails to talk them into the store, they need value added that positions you as the safest place to get what they need… we can help you build that content.   

#2: Add more quality leads to your sales staff’s opportunities by calling us and finding out your market’s CPL for the improved leads and add as many as you want and can fund. The more you have the more that will buy both the next quarter short term and long term. Understand that there are new activity levels and methods needed to out-sell your competition at the top of the market and we have experience in what it takes to accomplish this. It is a culture shift, but a necessary one of you desire to outsell anyone else on your market, more fine pianos.  

#3: Add a digital DirectFlow campaign to harvest leads we are staying away from with the acoustically oriented method and message. There is no right or wrong here, having lower price stepping stones to sell in between larger ticket sales is a momentum builder. Digitals, if they are a major part of your business model, may be important. Those leads are easier to harvest but deserve a different targeting metric, ad, landing page and list. 

#4: and the least desirable option, is to go back to the blanket targeting of old and haul back in all the digital and lower price point oriented leads. This will TRIPLE the net we throw out, increasing the leads, BUT contaminate the targeting algorithm that we created to concentrate on acoustics and larger ticket items. Once more this is an identity and strategy decision, not a right or wrong issue. We can serve you anyway you want and need to be served, including going back to the targeting I helped craft that was volume oriented and that many of you became used to. 

We truly value your business and will abide by whatever instructions we are given as we build your portfolio out to best suit your needs and goals. Reach out to us at your next opportunity and communicate your desires and needs. We remain at our service and grateful to be there.

-The DSD “A” Team.