“Not everything is created equal.
Not everything delivers equal results.
What I like or think will work isn’t nearly as convincing as the data.”
~ Debra Hilton
What “Big Data” Tells Me…
One of the advantages of writing for the direct marketing big boys in the US markets is the regular data digests about what’s working now, especially with respect to some of the controls I’ve written. This helps me advise my consulting and copywriting clients with a scale of information that they could not afford for themselves.
In May, I learned some very useful facts about lead magnet performance. While the data is skewed towards the US simply because of the market reach, the smaller global figures support the US findings. Most of the discoveries simply supported existing information and showed that not much has changed in terms of effectiveness, although there are some interesting innovations.
Anyway, here is a summary of the findings:
- For pure lead generation, discovery quizzes are the most powerful tool with relevant checklists a close second;
- Surveys are better indicators or what people think they should do, than what they actually decide;
- Short, graphic-centric lead magnets are great for price-shoppers and tyre kickers. High download level in most markets, but low conversion to buyers (single-digit range);
- eBooks & reports that address the buyers’ issues on several levels have the highest conversion rate (up to 80% in many markets) especially for complex purchases with multiple stake-holders.
- White Papers and Academic-style reports seem to be downloaded more for research & citation purposes than purchasing decisions;
- Audio ebook downloads are very popular – and are equalling ebook results in many cases where offered;
- Wholesale Lead Magnet piracy is on the uptick so it’s important to make your magnets uniquely yours and weave your stories and calls to action throughout to make them uncopyable.
The Choice is Yours…
Knowledge is power. You can know something and then choose to act on your knowledge… or not. If you don’t have the information, then all you can do is walk in the dark.
I was fascinated to see the dramatic difference in ROI between the short, pictorial ebooks and the longer more comprehensive ones in numerical terms. I’ve seen similar results for some clients who have both types of download and confirmed it with a split test.
Your mileage may be different, but our discovery was that the ‘sexier’ ebooks launched them into an internet search for other providers and created researchers rather than buyers. On the other hand, the longer more persuasive books created a prejudice in our favour. Some prospects called to enquire (clearly as part of a comparison process) and decided to pursue our buyers’ journey instead.
When you consider what is happening inside your prospect’s mind and business you will often see the need to use different ‘hooks’ for different people and stages of the buying process.
The Power of Time and Layering
Dan Kennedy talks frequently about the dangers of following popular wisdom and cutting your presentations short. I agree. Notwithstanding the received wisdom on grasshopper focus-times my experience is that people focus when they have a need, and when they see value.
Possibly the emphasis on ultra-short soundbites is a reflection of the structure that is usually used to present elements: a combination of self-aggrandisement and sales pitch.
When people read or listen to your book or watch your videos, they are spending time with you and getting to know how you think and what you value, so the longer they spend the more likely they are to buy. If you offer genuine experience, expertise, and wisdom that will shine through and your prospects (and clients) stop wondering whether you know what you are talking about and start asking more useful questions like:
- Will you have capacity to work with me?
- Can I afford your services?
- If not, can you recommend an alternative?
- What results can I expect?
- What will I have to change if I work with you?
The time they spend with you is an investment of a non-renewable resource so when your prospect is sufficiently engaged to stay with you they are pre-disposed to buy. If they can also offer your book to other decision-makers on their team and let you speak to different aspects of the decision, then you have even more likelihood of making a sale.
You can use one longer lead magnet (eg. Your book or ebook) to appeal to multiple stake-holders and decision-makers remembering that you are your best sales person. I can’t tell you how many sales fall through because the original adopter was unable to explain adequately to the accountant or IT team why it made sense.
Alternatively, you can create separate lead magnets for different departments. On the surface, the latter approach might seem to make more sense, but the data suggests that when all stakeholders have access to a single authoritative source of information, even though they focus on the aspect of most interest to themselves, they are convinced by the wholistic approach.
Marketing Can Make Your Business More Attractive
Dynamic Direct Response Copywriting provides an insight into how to research and write powerful advertising copy that irresistibly attracts your ideal prospect and pre-disposes them to work with you.
Purchase your copy today at https://hiltoncopywriting.mykajabi.com/offers/vLy6oYgm