Moneyball Media was created to serve the small and local business owner communities that I have worked with and cared so much about for 21 years. “Moneyball” is a term used in sports as a strategy to gain a competitive advantage without outspending revenue. It first came out of the now famous storyline described in the 2004 New York Times bestseller by Michael Lewis – Moneyball: The Art of Winning an Unfair Game.
Prior to the 2002 baseball season, the Oakland A’s were considered a small market team at a competitive disadvantage to larger market teams like the New York Yankees. Faced with a limited budget to acquire outside talent, the A’s front office led by General Manager Billy Beane, employed a different strategy to counter the traditional spending ways of franchises with higher revenue.
Is this a similar storyline? Local and small business owners face intense competition at every step. Sometimes with neighboring business who have a better location or bigger budgets for advertising. With payroll to meet and a lease to pay, your marketing plan has to provide a sure return on investment. In the book, teams were overpaying for past performance using outdated “vanity” statistics such as home runs and batting average used to measure individual skill that didn’t translate to wins for the team.
Similarly for small business owners, traditional ways of marketing your business have been disrupted by mobile search, social media, and related changes in customer behavior. It is no longer effective to throw money at outdated methods geared towards gaining attention for products and services. You must have a longer term strategy that combines elements of offline interaction, as well as a visible online presence for the increasingly short attention spans of customers today.
Billy Beane’s successful attempt to assemble a competitive team on a lean budget was founded on computer generated analysis to acquire talent at less cost. The A’s selected players based almost exclusively on their on base percentage. At that time, expensive home run hitters were what fans were buying tickets to see.
Employing the right local SEO strategies, and yes – management by numbers (analytics) to measure your online and offline marketing efforts is essential. The good news is evolving technology is leveling the playing field for small business. You have choices when it comes to systems and tools that fit your budget. Digital era “Moneyball” is cost effective.
A ‘media first” mindset for your marketing plan is key. Your company website is the hub for everything you do with your brand. It is the beginning point for all lead generation efforts and provides consistent visibility for your products and services if designed properly. Yes, I said designed… the old way of throwing up a digital brochure online by paying an inexpensive graphic designer doesn’t work now.
Google is constantly updating its search engine algorithms in order to make search better for its users. Websites should be designed by someone who knows how to optimize your online presence so that it will continue to rank well after search engine changes.
In 2002, baseball traditionalists were hostile to the idea of building a roster without marquee players. The A’s started poorly that year. Eventually the team won an unprecedented 20 consecutive games, and went on to land a playoff spot before losing in the first round of the postseason. Although they missed the World Series that year, but the result was a sea change in the way all baseball executives and team owners operated going forward. In business, you must change or die.
I meet and talk to countless discouraged suppliers, vendors, and professional services providers either too busy, overwhelmed by their options, or simply unwilling to change their old approach to a new game. If you are are interested in competing more effectively in your local marketplace, we would love to put together a actionable game plan that works for you.