I know that this post by Steve Rubel was posted last year, but in mining my RSS feeds from Google Reader today, I came across this post on the movement towards Moneyball Marketing as marketers look to online and had to talk about it because of how much I enjoyed Moneyball.
In Michael Lewis’ Moneyball, Lewis showed how baseball manager Billy Beane built a successful team by changing the critical stats. Rather than choosing players based on the big time stats that the Yankees liked, the A’s started getting players with good on-base percentages and slugging percentages–players that weren’t as highly sought after in the drafts and had less star mentality.
As Rubel projects, the same could be true for marketing in the online realm. Marketers looking to reduce costs could go more niche and find smaller sites that produced better results. These sites wouldn’t have as much of a “star mentality” and don’t charge as much for advertising.
I had never thought about Moneyball applying to marketing until I read this post, but now it seems like a great way to describe the more efficient way of marketing on the Web. Rubel also lists some ways to start applying the Moneyball method:
Here are three ways you can apply Moneyball Marketer in your organization today:
1) Become a Super Cruncher – Look beyond the common methods for evaluating media and identify more meaningful, perhaps esoteric statistics. For example, make a buy based on a site’s ability to drive consumers to complete high value tasks.
2) Skip Reach, Go Niche – As hard as it is, try forgoing some of the larger sites in favor of emerging niche ones that deliver a higher percentage of your target. Work with them to create measurable, outside-the-box programs. For example, consider Takkle – an emerging social network focusing on high school sports.
3) Think Relationships, Not Impressions – The most successful companies in business today recognize that relationships rule. Consider launching programs that allow you to hone your relationships with narrow segments of your audience. Go beyond impressions.