Increase Your Conversion Rate with Lead Magnets

Transcribed from video:

Hey, guys. How is it going? It’s Charlie here from Hutchinson Web Design. Today what we’re going to take a look at is something called lead magnets. This is on the back of some work we’ve been doing for a customer recently, trying to get more people to opt in to their main list so that they can follow up them up with sort of like automated email campaigns as well as just making sure that they can extend their prospect list really of people that they can follow up with to sell their services too.

So I’m not too sure how much everyone is aware but roughly the average conversion rate, if you’ve got some sort of lead form or lead capture on your website or webpage, if you’re driving traffic via something like pay per click, SEO, Twitter or something like that, you’re probably looking at about a conversion rate of five to eight percent which obviously if you’re spending money to drive traffic to a site, get in like less than half or less than one in every 10 people signing up. The numbers don’t necessarily always work out depending on what your method to get the traffic there.

So this was the trouble that one of our clients were facing. They came to us wanting to get more bang for their buck on what they were doing online as I said so they could build up a bigger list and obviously make sure they could get more follow-up as well. Now what they did have, they did have some sort of general opt-in stuff or newsletter form on their website that wasn’t really doing too much. But what really interests us was the pretty strong Twitter following.

Their Twitter account had about 2000 followers on it. They were updating that everyday with tweets pointing out to different articles and reference points and whatever it might be. So it’s a pretty good account with a pretty solid following on it as well and all of this time, the stuff that they were tweeting out were getting retweeted by their followers as well. So it gave us a good indication that the actual people that were following them were fairly engaged with what they were doing.

So the company that we’re talking about, it’s a company called Studio HDRI Maps and what these guys do is they sell into the 3D or like CG arena. They have an online store where they sell sort of like digital downloads. Now these are maps that go into a lot of 3D applications that their customers use. So what we suggested they did was they started with a promotional giveaway giving away three of these HDRI maps sort of like a taster in exchange for an email address; the obvious idea being they can then follow up these customers or these potential customers with some sort of sales process.

So they were onboard. They were game. We thought rather than to do this to the website, they get quite a lot of visitors to the website already. Let’s track and see what we could do on Twitter. So what we did was we set up a schedule of tweets to go out over a seven-day period. The first one being, “Want free HDRIs? Download three on us for free,” with a link going to a landing page and then the second one was, “We’re in a good mood. Three free HDRIs on us,” again with a link going through.

As I said, this link pointed to a specific landing page which was this one here. So all traffic ended up here and in total, I think we sent 1245 visitors to this page from these links. As you see, it’s a very, very simple landing page. Nothing to do with the main website and it’s purely about this offer that we’re talking about and no external links go anywhere else. So once someone is on this page, they’ve either got to take action or they’ve got to leave the page altogether.

As I said, very simple page. The key elements of  which is a Twitter exclusive badge which makes anyone think that they’re coming from this link that is purely for the Twitter followers. So it’s not open to the general public which again gives a nice message to people landing and we’ve got a nice big headline here again through that we talked about and all we ask for is a name and an email address and then a big massive call-to-action button underneath.

Now once they click this button, they go through and they have to confirm their email address for the double opt-in. Now on the back of that with 1245 visitors, double-opted in, we had 584 people complete that process. That’s 584 names and email addresses of people within a week from that 1245 visitors.

So what does that acquaint to? In general terms, that is roughly a conversion rate of 46 percent all because of the free giveaway and the fact as I said – not the most – not probably the best-designed landing page out there but the key elements were there. Nothing too fancy but it did the job. So as I said, a 46 percent conversion rate on that compared to your typical five to eight percent.

So I guess the moral of this story is if you’re looking to try and catch your visitor information, leads or whatever it might be from your website, even if you’re trying to get people to fill out a quote form, make sure there’s some sort of incentive for them. It could be a free ebook, a few sample of your product. It could be like a three hours consultation or whatever it might be or it could be a free voucher, 10 percent off your first purchase or whatever it might be. But as I said, this sort of incentives are fantastic for getting people to take action and obviously if people take action on this sort of style form here, what is going to happen is you are going to then follow them up using their credentials.

So that’s it. As I said, the moral of the story is if you want a better conversion rate, get someone to a page where they can get some sort of incentive to download, where you can follow them up at a later stage. It’s a great technique to use. As I said, the numbers speak for themselves.

As always, any questions, feel free to get in contact. Leave them in the comments section below. We look forward to hearing from you. Thank you very much.

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