We’re going to go out on a short limb and guess you spend a ton of time and effort optimizing your Lead Magnets.
Are you nodding furiously?
You write Landing Page after Landing Page, change your offer from a PDF download to a video series, tinker with headlines, Calls To Action and button colors, all to get people to opt in for that Lead Magnet.
Are you still nodding?
If you are, that makes you like most SegMetrics users. Lead Magnets are critical to Infusionsoft businesses. It’s worth it to spend a bunch of time perfecting them.
But how do you measure the success of your Lead Magnets?
You may know how many people opt in for each Lead Magnet, but do you know how many sales result from those opt-ins? And do you know the average value of each of those opt-ins?
If you’re not tracking Revenue and Lead Value for your Lead Magnets, you’re likely missing opportunities for significant growth.
We’ll show you how unlocking this data will fundamentally change how you track your business — and maybe how you run it.
The Challenge Axe Wellness Faced
Let us tell you about our friends at Dr. Axe.
Axe Wellness (draxe.com) is one of the most successful health blogs around. They offer a ton of actionable advice. They have well-tested and high-converting Lead Magnets that deliver their users high-impact content on fitness, natural remedies, diet and overall health.
They’re also damn good marketers who know what they’re doing with Infusionsoft. Accordingly, they apply Infusionsoft tags every time someone signs up for one of their Lead Magnets (and you should too).
Let’s say you signed up for their “Essential Oils Ebook” ….
You would now be given an “Essential Oils” Tag that would trigger the delivery of the ebook as well as a drip email marketing campaign based on your interest in Essential Oils.
Or maybe you signed up for Dr. Axe’s “Healthy Recipes Ebook” …
This will trigger automation that delivers the Healthy Recipes as well as a different drip email marketing campaign. And it leaves you with a “Healthy Recipes” Tag on your contact record in Infusionsoft.
Axe Wellness is an automated marketing machine and they’ve seen their bottom line rise every time they introduce a compelling Lead Magnet. But here’s where they — like many of you — ran into some head-scratching:
How do we determine which of our Lead Magnets are the most valuable?
That’s where SegMetrics unlocked insights that Axe Wellness had never had before.
Upon signing up for a Free Trial of SegMetrics, the Dr. Axe team was able to see the values of all of their Lead Magnets … for the first time!
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Those are the New Leads, Revenue, Lead Value and more for all of their existing Tags — all available instantly.
The reaction of the Dr Axe Team?
“Mind. Blown.”
Finding Dr. Axe’s Most Valuable Lead Magnet
Once you have the data at your fingertips you have to know what to make of it.
Let’s dig into the SegMetrics Tags reporting:
For the sake of this study we’ll focus on the blue columns, which track the activity of New Leads (see here to better understand “blue” vs “green” metrics).
We see that, during the given timeframe, 20,720 New Leads were tagged with “Essential Oils”.
Of those 20,720 New Leads, X were Buyers, which means that the Conv % from Lead to Buyer is X%.
Note that those 20,720 New Leads have generated $263,794 in Revenue, which means that the average Lead Value for people who sign up for Essential Oils is $12.73.
Now compare those KPIs to the other Lead Magnets …
We see that “Health” generated 12,687 New Leads at a Lead Value of $11.72 …
And ” Fitness” generated 4,136 New Leads at a Lead Value of $18.82 …
And — the grand-prize winner! — “Recipes” generated 9,055 New Leads at a sparkling $19.26 per Lead!
This means that “Recipes” leads are worth 64% more than “Health” leads. Despite generating 3,632 fewer leads than “Health,” the “Recipes” opt-in form actually generates more total revenue!
This is why it’s not sufficient to only measure Lead Growth when determining the success of your marketing automation. One Lead Magnet could generate more leads while another generates higher value leads that ultimately generate more revenue.
From Data And Insights To Real Action
Let’s dig even further.
By clicking on each of these Tags we can then see how each of these Lead Magnets converted to the sales of different Products.
We see that “Essential Oils” leads are most likely to buy the “Essential Oil Transformation Program,” which is a $47 product.
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On the other hand, a higher percentage of the sales for “Health” and “Recipes” come from the “Healing Leaky Gut Program,” which is a $147 price point.
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Our discovery here? The “Health” and “Recipes” Lead Magnets don’t necessarily convert more people to sales, but they convert people to the sale of a product that is worth three times as much — thus the higher Lead Values.
“This will definitely impact our product development,” said Evan Tardy, President of Axe Wellness.
Now are friends at Axe Wellness can put their Infusionsoft data to work. They can develop a premium product for their Essential Oils marketing funnel and track whether this boosts the Lead Values of people who are interested in Essential Oils.
Because Essential Oils generates the most New Leads, boosting the Lead Values could have a massive impact on the bottom line.
This is our end-goal at SegMetrics. We provide the data and insights that allow Infusionsoft companies such as Axe Wellness to make game-changing business decisions.
That’s the point of using data to fuel your business. And — finally! — that’s easy to do with your Infusionsoft marketing.
