Improving leads with machine learning
Innovative businesses like Lead Tech rely on data science to improve their marketing and the services they offer their partners. With machine learning, we’re able to make more intuitive decisions and deliver greater results.
Lead Tech’s paid media team delivers targeted paid advertising campaigns to attract high-quality financial advice leads for our partners.
In this blog, paid media manager Matt Wilkinson explains three ways his team uses machine learning to help our partners increase their performance.
What is machine learning?
Machine learning is a subset of artificial intelligence (AI). Data is input into a machine learning program to identify patterns, hypothesis and other insights. More data gives the machine a chance to gain more experience.
These technologies are used in everything from medicine to retail. They help us solve problems and find solutions to complex problems in a fraction of the time it would take a team of data scientists.
Here’s how we’re using it to improve our service.
1. We’re improving our optimisation strategy to generate better leads
Lead Tech uses machine learning to gain powerful insights into what our customers are looking for and the factors that lead to conversion. We’re able to examine all aspects of our paid media activity to create more effective campaigns.
Our partners’ performance data is central to our understanding. It shows us what’s working for partners, so we can continue to improve keyword targeting, messaging and sites for better results.
To boost performance and efficiency, the paid media team is building a custom tool that will allow live data to feed into our bidding process in real-time. This will allow us to adapt our Google Ads strategy much faster to drive higher-quality leads to partners.
2. We’re delivering more quality leads per postcode
The machine learning process we’re using to optimise campaigns gives us greater control over leads by region. We use this data to determine the demand for leads in specific areas to fulfil our partners’ lead requirements.
We’re able to deliver a consistent stream of leads throughout the month to our partners and increase. our visibility in postcodes where they need more leads.
We’re using this strategic approach for all of our customer-facing brands. This ensures Lead Tech generates the best quality leads for our partners, leading to more satisfied customers.
3. We’re matching the right customers with the right partners
The insights generated through machine learning also informs how we approach customer journeys. We look for connections between conversion rates and lead quality to create better experiences.
For example, a potential customer searches for ‘pensions’ on their mobile. Historical data shows us what the ideal journey, brand and partner looks like for that customer. The next step would be tailoring our ad and website copy to deliver the best conversion rate and lead quality.
These examples are great opportunities to help us constantly improve future marketing.
How partner performance data powers machine learning
Machine learning is only as effective as the data that’s fed into it. Thanks to our scale and the number of partners we work with, we have a great amount of data to work with.
We work with our partners to continually improve the quality and quantity of the data we use. The performance data they share helps our machine learning tools grow smarter. And as we continue to develop our machine learning tools, we’ll see improved results for everyone.
This is why our partner success managers put so much importance on our partners sharing their lead performance data with us.
Work with Lead Tech
Lead Tech has pioneered the lead generation market for over a decade. We use the latest technologies to support many of the largest financial advice firms in the UK.
Get in touch to find out how we can deliver the results your business needs to achieve its targets.