The following was shared at the most recent LeadsCon Conference: “A lack of trust between buyers and sellers has meant that data from buyers that could have really helped their vendors to optimize their campaigns either hasn’t been provided or has not been provided in way that was really helpful, at a very atomic level.”
Spoken by Jon Kelly at a panel discussion on lead quality and the ever increasing role of data in customer acquisition strategies, the comment is cause for pause. When one thinks about how data capture, measurement and operationalization all work to improve the many elements in the acquisition and conversion path (forms, scoring, time to call, LTV, sources), it’s still a wonder that data sharing is still an industry issue. The sharing of data enables both sides of the data relationship to make better decisions. This is the ultimate goal that should drive greater sharing. Better marketing decision-making flows from greater data sharing. As the panel discussion at LeadsCon highlighted, what marketers need and want is not always reflected in their actions. “We all have the same goals which is we all make an investment whether it’s purchasing impressions or buying leads and we want the greatest return on our investment,” commented Graham Skidmore of Quicken Loans, who participated on the same panel. His comment highlighted the need for improved data sharing that drives:
- integration of front-end and back-end data, enabling higher-quality solutions and providers to deliver scale
- automated solutions and continuous optimization that allow CPC models to demonstrate greater efficiency than pure CPA models
The need for trust is a key issue. As an industry, we need to see that as we share data, we are building models of trust that can filter out lower-quality solutions from the higher-quality solutions. As Jon Kelly added, “the industry has done a poor job of understanding data. Allow the market where a higher quality lead gets paid what it’s worth. Allow the generators to generate better leads.”
