Lead Magnets That Convert — Tips from Our CEO Jim Belosic

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Posted by Chelsea Hejny on 11 Mar 2015 / 0 Comment

In January, 2015, social media marketing pro Rick Mulready launched his new podcast, “The Art of Paid Traffic.” His new show focuses on the different ways you can use paid traffic (think Facebook ads, Twitter ads, YouTube ads, etc.) to grow your business.

His goal is for his listeners to walk away from each episode having learned one, two or maybe even three proven paid traffic strategies or tips that they can add to their “test list” of things to try with their own business.

On episode 20 of the AOPT, our CEO Jim Belosic joined Rick to talk about what’s working well right now when it comes to lead magnets. They also discussed how to deliver a meaningful, strategic product/content to attract quality leads.

You’ll find this discussion relevant whether you’re an online business owner or you have a local brick and mortar business.

You can listen to Jim’s episode of The Art of Paid Traffic here — trust us — it’s a good one, with lots of tips and insight. You can also check out the transcript of the episode below. Enjoy it, folks!

Transcript: 

Rick: On today’s show, Jim Belosic, who is the CEO of ShortStack, joins me to talk about lead magnets. Yeah, we’re totally going to geek out on lead magnets today. Specifically what’s working well when it comes to lead magnets. Whether you’re an online business owner or you have a local brick and mortar business.

Rick: On today’s episode with Jim, we’re going to get into things like what is working right now when it comes to lead magnets. And again, we’re going to be talking about whether you have an online business or you have actual business where people walk into.

We get into things like should the format of your lead magnet be consistent with the paid products you’re leading people to — interesting discussion there. Jim shares what today can make you look like a rockstar marketer or an amateur marketer (we don’t want to be looking be looking like an amateur marketer!).

We talk about why mobile needs to be a priority when considering your lead magnet. He shares tips to increase your webinar registrations on your landing pages.

And he also shares details about a company’s campaign that got over 220,000 qualified leads in a matter of about seven days, and then they saw a 70 percent conversion rate of those leads who wanted more information about the company. Pretty cool stuff — okay, let’s go hang out with Jim.

….

Rick: I’m excited to welcome Jim Belosic, who is the CEO of ShortStack, here to the Art of Paid Traffic. Jim, how are you doing today?

Jim: Good, good. Thanks for having me!

Lead Generation

Rick: Absolutely. So I want to talk to you about lead generation, specifically what you’re seeing right now out in the marketplace for how marketers, entrepreneurs and businesses are using the ShortStack platform.

Specifically, what is working well right now when it comes to generating leads and what businesses are giving away in exchange for that lead? Anything come jumping out at you?

Jim: Yeah. The number one thing is quality. So there’s kind of two really big buckets of giveaways. One is content marketing and giving away content, like a PDF download or a ‘hey, here’s five photoshop templates,’ or whatever. And then the other bucket is contests. I’ll talk about contests first.

We’re seeing a shift away from just giving away an iPad or something silly that’s really to the business … we’re seeing not only the value go up when it comes to contesting, but we’re also seeing kind of the thoughtfulness, I guess, of the prize is increasing.

So if I’m a restaurant, we’re not seeing them giveaway iPads, we’re seeing ‘hey, going to do catering for your office Christmas party,’ or dinner for two, or whatever.And it makes more sense to their audience so in return we’re seeing increased entry rates. The same thing goes for content.

People aren’t just regurgitating stuff that they stole off of someone else’s website and giving it away, they’re actually dedicating a lot of resources to creating really good content and then using that to give away for marketing purposes.

The Kinds of Giveaways that Bring More Leads

Rick: When businesses are shifting away … because yeah, you’re right, there was that big trend for a long time where businesses or people were giving away iPads or whatever it may be and they were getting a lot of entries … but they weren’t quality entries because people were just looking for a chance to win that iPad even when it wasn’t relevant to the business.

So you mentioned that businesses are getting a higher number of opt-ins or registrations into that contest — are they also higher quality entries … leads for them?

Jim: Exactly. Yes, they’re better qualified. It’s kind of a two for one deal where getting … sometimes it’s localized leads, which is really critical.

So again, using that restaurant example, if I’m giving away that iPad, people might be entering to win from wherever because it’s an iPad. But if I’m giving away, ‘hey, come to my restaurant, experience it, it’s in your neighborhood,’ … those people who just wanted the iPad … they’re never going to visit because they live five states away … they’re not going to enter.

But the people who are close and interested, whether they’re return customers or maybe the just heard about you, the leads are way, way better.

The same thing goes with the content. So when you’re giving away high-quality content, specifically if it’s been written just for your audience, what we’ve seen is if you adjust your writing level and level of detail and analysis in your content … you know, maybe you make a white paper that’s geared toward enterprise and you have a lot of really heavy data analysis … the leads that want that paper are very high qualified. They are going to be more likely to be enterprise users.

Whereas if you say, ‘Top Five Tips for Sending An Email,’ it’s like well … make sure you use spellcheck … it’s low-quality content so you’re going to get lower quality leads — depending on your product, of course. Overall people are putting in more effort and more effort results in better leads.

The Importance of Relevant Prizes

Rick: What do you think about making sure that the format in which the opt-in or is giveaway is delivered to somebody … so whether it’s a PDF download or an eBook or a video series … what are your thoughts on how closely in format it needs to be to the actual paid product?

For example, if I’m selling a video-based training course, do you think that it’s better to have the format of the giveaway to also be in video format to “train” that person to know the quality and type of work you can give them … or that you will be giving them in the paid experience when they become a customer?

Jim: Yeah, I think when it’s applicable you should definitely do that. You should set expectation.

So if I’m giving away a video course and my pitch to the audience is via a video then they know what they’re getting into. Again, you’re kind of pre-qualifying the lead. If they’re like ‘Oh my, I don’t want to want five hours of this guy,’ they’re probably not going to enter. But if they watch the video and they’re like, ‘Okay… this could be really cool. It’s produced well. I am interested … ‘ then they’re going to go forward.

If you are talking about how to improve your email campaigns and that comes to you via email, you might go ‘Oh, they made it through to me, maybe they can help me get through to my audience.’ I would say do it whenever possible, but one of the biggest considerations is mobile.

If you’re delivering ads or creating landing pages in order to do something, keep in mind mobile and make sure it works on mobile because … we’re not seeing as much as we did last year, but we still see every once in a while see ‘hey, come download my thing’ and it’s advertised on social media or wherever. I’m on Facebook on my phone and I click the ad, or I click the post, it’s either a blank page or something doesn’t work. I can’t enter or maybe it’s a tiny screen I have to pinch around to enter because they forgot to consider mobile.

That can really make you look like a rockstar or like an amateur.

Why Campaigns Must be Mobile Friendly

Rick: That’s a really good point that you bring up. Making sure that the mobile experience is a good one is so important.

Being someone runs a lot of Facebook ads, and obviously I teach Facebook ads, a trend I’m seeing right now that I don’t see that people are super comfortable yet with, say, registering for a webinar for example, or entering their name and email in exchange for that free download, on the mobile device.

Are you seeing the same thing?

Jim: Yeah. What we’re seeing is what’s we’re calling action-gating. Which is, ‘give us your email in exchange for X.’ Like-gating, of course, was really popular with Facebook … so it was ‘Like my page in order to see whatever.’ We wanted to get away from like-gating — well, Facebook helped do that for us with their depreciation — but we wanted to do something that just wasn’t black or white … there’s levels of grey to it.

So instead of ‘fill out these five fields in order to get my thing’ maybe have the first field required then the other three optional.

Now when it comes to mobile, if you see that your mobile entry rates are lower, you may want to start playing with what’s required. One of the things we always suggest is, ‘hey, do you want to register for my webinar’ …. and we detect that they’re on mobile … we just ask for their email address. Then you can email them automatically that says ‘hey, thanks! There’s one more step, go ahead and click here if you prefer to be on a desktop.’

Once they get that email, whether they read it on their phone … it will still go to a desktop environment and then they can go ahead and do the registration, pay with a credit card, or whatever they’re more comfortable with doing on a desktop.

The Fewer Required Fields, the Better

Rick: I’m really excited to see this year, in 2015, where or do people … you know I think about myself and ask if I’m likely to fill out a bunch of information on my phone … probably not quite yet. But I’m really excited to see sort of what that trend … or where that trend goes in 2015.

But I love about making sure you’re really clear about which fields are required and maybe lessening the required fields when it comes to having that mobile landing page for people. I like that.

Jim: Yeah, we’re kind of going towards make everything more optional and at the user’s own pace. So at least get that email from them via mobile and if they forget or if they don’t register later, you can email them to say ‘hey, we noticed you were interested … perhaps it wasn’t a good time … you were trying to text at a stoplight or something … how about we try it again?’

So at least you still have that lead and you can still nurture that lead … but don’t rush them … don’t force them to do it right then because, like you said, everyone has a different level of comfort when it comes to entering data, especially when it comes to mobile.

Takeaways from the Most Successful Campaign EVER

Rick: Sure, sure. So I’m going to kind of put you on the spot, Jim. What’s sort of the coolest or most successful execution you’ve seen in the form of lead generation over the past, let’s just say year, 2014?

What is the most successful campaign that you’ve seen?

Jim: The one that sticks in the top of my mind … I think they had like two hundred and some thousand entries … 220,000 entries in a very short period of time. I think it was seven or eight days. And what happened was, they had a very relevant offer … and a high-value offer … to a very well-targeted audience.

They were actually giving away … they were going to pay off your student loans and it was targeted at students. So when they did their paid ad buys … students are very easy to target … and students are of course always looking for ways to save a buck … but they didn’t just say ‘hey we’re going to give you $ 50 toward 10 percent of a book.’ They said … I think it was like $ 5,000 … something pretty decent.

So they had just this huge influx of leads and all of them … I don’t know what the percentages are … but the early data showed that they were extremely well qualified because not only could they enter the contest to win, they could take another step that was optional to request more information about this particular lender and the people who entered the contest and then requested more information was, I think the conversion rate was 70 percent or something ridiculous.

That’s when we kind of really lite up because we were kind of preaching that high value stuff gets better leads, but when we saw this, we were going … oh my gosh, I guess we didn’t just make that up, it really is working.

Rick: Right, right. High value … high quality … make sure that we are considering creating our pages and campaigns. Especially as we head in here into 2015. All really, really good stuff. Thanks so much, Jim, for joining me on the Art of Paid Traffic.

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