Have you ever played Chess? Don’t you love the feeling of gaining checkmate on your opponent? In every game of Chess, checkmate is achievable. It’s just unclear who is going to win the game; you or your opponent. What about your ad targeting? Are you willing to really hone in on your analytics for greater success and lead gen?
Dennis Yu, CTO at blitzmetrics, has created a fool-proof plan to increase lead gen results through what he calls Metrics, Analysis, and Action.
So what’s the secret? Instead of having you read this entire article, I’ll tell you right now, (because I know you’re going to continue reading either way). — It’s Counterbalance.
What is your instinct on the chessboard when your opponent moves a pawn 2 spaces. React! Counterbalance with your pawn 2 spaces.
Now that you know the secret, let’s start from the beginning.
What are your actual numbers, scores, and results? Create a database where these can be known, and updated with ease. You don’t want to be running around with approximates and then realize that your CPC is lower than you think.
Now’s the time to work the noggin`. With our numbers (metrics), what can we do to significantly make an impact with the least amount of effort? Just because you’re busy, doesn’t mean that you’re productive.
How can you get more conversions at lower cost for conversion with the same ad? Cutting daily spend to get a higher cost per click isn’t a smart move. In ad modification, there’s always a counterbalance metric you need to be ready for.
Wouldn’t you rather start you business on a firm foundation rather than from scratch? Think about it. Don’t waste your time with paid ads if you’re getting great organic (non-paid) leads and results. Amplify what you have to be successful.
So you’ve made a plan, then get it going! Dennis Yu calls this the Top N. You can customize a campaign in 15 minutes with the strategy of looking at the top 5 leads, placements, clicks, and ignore everything else. If you know that this one move will be the best for your advancement on the chessboard, don’t worry about any of the other pieces because you are in the best position with your move. Don’t overcomplicate things.
Let’s say that you look at the top 5 selling ads from your list. From there, you see an ad with a .4% CTR (Click Through Rate). Is this a good or bad statistic? You don’t know because you need more information. That’s where the counterbalancing comes in to play. Looking at the board and where the rook is doesn’t really matter if you aren’t also looking where the knight is. So, look at the other metrics. If that same ad has a 24% conversion rate and $13 CPC (Cost per Conversion), then there is a great ad at play.
“That’s the beauty of counter-balancing metrics. There are two sides to every story, and no single metric tells the whole story.” -Aj Wilcox
With this being your plan, you can work over and over on other campaigns as well with the same MAA–Metrics, Analysis, Action. Continually improve your content with this process making sure to weekly record the information to have great board control on your lead gen.