Leads Are Weak 5 Ways To Increase Lead Quality Ep 222

Summary Notes


In the Gym Secrets podcast, the host and guest discuss strategies for enhancing lead quality in marketing, emphasizing the balance between quantity and quality. They outline five methods: targeting specific demographics, increasing the steps required for lead capture, varying the nature of the offer, incorporating applications with qualifying questions, and providing value upfront through content. The guest, highlighting the importance of a robust monetization system behind marketing efforts, advises starting with a wide net and refining the process to maximize customer value. They suggest that these techniques should be employed when lead volume is high but quality is low, and operational capacity is a consideration.

Summary Notes

Introduction to Gym Secrets Podcast

  • The podcast focuses on strategies for acquiring customers, increasing customer value, and retaining them.
  • It also discusses the failures and lessons learned in the fitness industry.
  • The podcast aims to provide value and encourages subscriptions.

Welcome to the Gym Secrets podcast, where we talk about how to get more customers, how to make more per customer, and how to keep them longer, and the many failures and lessons that we have learned along the way. I hope you enjoy and subscribe.

This quote sets the stage for the podcast's theme, focusing on gym business strategies and sharing experiences for educational purposes.

Increasing Lead Quality

  • Lead quality is crucial for optimizing sales and cash flow.
  • The balance between lead quality and volume is important for marketing strategies.
  • Five methods are discussed to enhance lead quality.

So, quick thing that just came up recently, I was asked to explain what are the ways to increase lead quality? And so there are five ways ways that you can increase lead quality.

The speaker introduces the topic of lead quality and indicates that there are five specific strategies to improve it.

Trade-offs in Marketing

  • Adjusting variables can increase lead quality but may decrease volume.
  • The goal is to find an optimal setup for sales by balancing these variables.
  • Marketers should aim to remove bottlenecks to maximize volume without sacrificing quality.

Now, that being said, the monetization structure behind it, you're going to want to play with these variables so that you can optimize your throughput, so you can get the most amount of sales or most amount of cash up front, depending on whatever it is that you're optimizing for.

This quote highlights the importance of tweaking marketing variables to achieve the best balance between monetization and lead quality.

Method 1: Targeting

  • Targeting can be refined by zip code, income level, or profession.
  • Targeting higher-income areas can lead to higher quality leads.
  • Targeting is a trade-off between quality and volume, and costs may be higher.

Number one, your targeting. So the targeting, you can do this in a couple of ways. One is you can just do it by zip code. Other you can do it by income level or profession.

The speaker describes the first method to increase lead quality, emphasizing the importance of precise targeting based on various demographic factors.

Method 2: Steps in the Lead Process

  • The number of steps a lead must complete can filter for more qualified leads.
  • More steps indicate higher interest or pain points, leading to better quality.
  • This method also involves a trade-off between lead quality and volume.

Number two is the number of steps that they have to jump through, right. If someone has to do ten steps in order to get on the phone with you versus one step, they're going to be more qualified because they took more action, so they're more in pain and they're more likely to want to work with you, right?

This quote explains how increasing the number of actions required to become a lead can improve lead quality by ensuring that only those who are genuinely interested or in need will complete the process.

Nature of Offers and Prospect Quality

  • Different types of offers attract different types of prospects.
  • Free offers, such as giveaways, generate a higher volume of leads.
  • Paid offers or direct calls to action, like scheduling a sales call, yield more qualified leads.
  • The structure behind the offer, or the "mousetrap," is crucial for monetization and leveraging volume.
  • The addition of an application process can significantly increase lead quality.
  • Applications with paragraph responses indicate higher effort and thus higher quality leads compared to multiple-choice questions.
  • The psychology behind application questions can help qualify leads by revealing their goals, acknowledging their problems, and gauging their willingness to invest.

All right, so a free offer versus a paid offer or a free amazing giveaway compared to a click here to schedule a sales call is going to create a very different type of prospect.

This quote emphasizes that the type of offer (free vs. paid) influences the kind of prospect that will be attracted to it, with free offers typically drawing a larger, but less qualified audience.

But if you don't do a giveaway and you do a straight to call, then that person is going to be more qualified than somebody who is opting in for just like a giveaway or whatever.

Here, the speaker suggests that leads generated from direct calls to action, such as scheduling a sales call, are generally more qualified than those from giveaways.

Simply adding an application before they have access to you will increase the quality lead.

The speaker indicates that implementing an application process before a prospect can interact with the service or product provider filters for higher quality leads.

And you can also, there's a lot of psychology behind the questions that you're asking the application.

This quote acknowledges the psychological aspect of the application process, where the questions asked can help in identifying the lead's commitment and fit for the product or service.

Say, hey, are you willing to spend at least $500 on the thing? It doesn't mean it has to be that, but at least it gets them in the ballpark around where you're going to be, right?

The speaker advises setting expectations about potential costs in the application process to ensure prospects are aware of the financial commitment involved, which further qualifies the lead.

Podcast Multimedia Enhancement

  • The podcast offers a video version for a more engaging experience.
  • Visual effects, graphs, and additional content in the video version can enhance understanding and retention.

Hey, guys, love that you're listening to the podcast. If you ever want to have the video version of this, which usually has more effects, more visuals, more graphs, drawn out stuff, sometimes it can help hit the brain centers in different ways.

The speaker is promoting the video version of the podcast, highlighting that it contains additional elements like effects and visuals that can aid in engaging different cognitive processes for the audience.

YouTube Channel Promotion

  • The speaker is promoting their YouTube channel as a free resource.
  • They suggest checking out the channel for those interested in the content.
  • The channel is mentioned in the context of providing additional value to the audience.

"You can check out my YouTube channel, it's absolutely free. Go check that out if that's what you are into."

The quote is an invitation to the audience to visit the speaker's YouTube channel, emphasizing that it is a free resource for those who may be interested in the content provided.

Increasing Lead Quality

  • Speaker B discusses methods to increase the quality of leads.
  • Emphasizes the importance of providing value first in advertisements and content.
  • Suggests that providing tactical, implementable value can lead to more qualified leads.

"And then finally, the fifth thing that you can do to increase the quality of the leads is provide value first."

This quote introduces the key idea of providing value to potential leads as a strategy to improve their quality.

Content's Role in Lead Conversion

  • The content of an advertisement or video is crucial for lead conversion.
  • Content that adds value and demonstrates expertise can position the advertiser as an authority.
  • This authoritative positioning can make prospects more likely to spend money.

"So if you have a video that's incredibly compelling, but doesn't necessarily explain anything or add value to the consumer, then you might get lots of leads with the quality and might not be as high versus a video that might be 5 minutes long and provides a tremendous amount of value, tactical importance that they can immediately implement in their lives, then that person might be more qualified if they come in because they're like, this person has already provided me value."

The quote explains that content which provides actionable value can lead to higher quality leads than content that is merely compelling but lacks substance.

Business Model Consideration in Marketing

  • Understanding the business model is essential for marketers.
  • A business owner should be aware of how their marketing efforts fit into the overall business strategy.
  • The speaker prefers to cast a wide net initially to generate flow and then refine their approach.

"And so what I mean is, I just want to get flow. Once I get flow, then I'm going to try and create a series of offers and upsells on that flow that will allow me to make more money on the customer."

This quote reflects the speaker's strategy of first focusing on generating a high volume of leads and then developing additional offers to maximize revenue from those leads.

Sales Engineering and Choreography

  • The speaker emphasizes the importance of sales engineering and choreography behind marketing actions.
  • Knowing the numbers and metrics associated with different stages of the customer journey is critical.
  • These metrics help in making informed marketing decisions.

"And typically, if you are good about your sales, engineering and choreography, behind the opt in, behind the application, behind the call, that's the model itself, then you should know what your numbers are on."

The quote highlights the necessity of understanding and tracking key performance indicators in the sales process to ensure effective marketing and business operations.

Marketing Decision Making

  • Making marketing decisions requires understanding the return on investment at various time intervals.
  • Without knowing these numbers, it is challenging to make informed decisions.
  • The speaker suggests that when the volume is high but quality is low, it may be time to implement strategies to improve lead quality.

"If you don't have those numbers, it will be much more difficult to make decisions about your marketing without that."

The quote stresses the importance of having concrete data on marketing returns to guide decision-making processes effectively.

Advertising Strategy and Operational Capacity

  • Adjusting advertising throughput to match operational capacity and desired lead cost.
  • Doubling lead costs can be justified if it aligns with the company's handling capabilities.
  • The importance of balancing lead volume with the ability to manage the influx operationally.

If I can get, let's say I'm booking some sort of national campaign and I'm going straight to call if my team can't handle as many, and I don't mind doubling my lead cost to put a fence up because I can't even handle the flow that's coming in, then in that instance it would be worth it for me to double my lead cost because it doesn't matter as much to me and I can't handle the operational flow.

This quote emphasizes the decision to increase lead costs in scenarios where a team is unable to handle a high volume of leads. It acknowledges that sometimes it's more practical to pay more per lead to ensure the operational flow is manageable.

Monetization and Sales Sequencing

  • Starting with the broadest possible customer base and refining the process on the back end.
  • Focusing on the business model, monetization structures, and sales sequences to support high lead costs.
  • High volume and high ticket sales are achievable through a refined business model.

But for me personally, I tend to start with the biggest net and then try and see what I can do on the back end and put the onus or the responsibility on the model and the monetization structures and the sale sequence so that I can afford whatever I want and then ultimately have a high volume, high ticket sale or mid ticket sale type business.

The speaker shares their personal strategy of casting a wide net initially and then optimizing the business model and sales process to support the costs and desired sales volume. This approach allows for scalability and higher ticket sales.

Replicating Business Models Across Industries

  • Applying the same successful business model to various industries, such as gyms, supplements, and online fitness.
  • Achieving more profitable operations by transitioning to models with lower lead costs and unlimited lead flow.
  • Continuous improvement of the business model is crucial for success.

And we've rinsed and repeat that exact same model in brick and mortar for the gym, we've done it for the supplement company, we've done it for gym launch, we've done it for now the online fitness model...

This quote illustrates the replication of a proven business model across different sectors, highlighting the adaptability and effectiveness of the model in various contexts.

Lead Cost and Monetization System Evaluation

  • The relationship between lead cost and the monetization system behind it.
  • The necessity to evaluate the entire system to ensure traffic costs are sustainable.
  • Adjusting the business model can be more effective than tweaking marketing efforts.

For many times though, you just need to look behind the lead at the monetization system that they're coming into to make sure that you can afford the traffic rather than trying to tweak the front end.

The speaker advises that examining the monetization system behind the leads is often more important than adjusting the marketing strategy. This suggests that the overall profitability is more dependent on the system that converts leads into revenue.

Increasing Lead Quality

  • Implementing qualifiers to refine lead quality if necessary.
  • Balancing the cost per lead with the quality and operational capacity.
  • The option to increase investment per lead if it aligns with the business's handling capabilities and profitability goals.

So maybe it was giving you an answer without giving you an answer or giving you the five things, even though you might not actually need that. It's usually the model itself, but if you do have an issue of having too much traffic and the people aren't qualified, and you're willing to increase how much you pay per show, or you don't have the operational capacity, then adding 1234 or five of these qualifiers in is an easy and fast and reliable way to increase the quality of the leads coming in close.

This quote suggests that while there may be specific tactics to improve lead quality, often the solution lies in refining the business model itself. However, if there is a need to manage excessive traffic or unqualified leads, strategically increasing investment per lead and adding qualifiers can be effective methods to enhance lead quality.

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