John Lee Dumas is a master at Lead Magnets and Infusionsoft marketing automation.
A Lead Magnet is free content that you exchange for a lead’s email address. If you use Infusionsoft (Keap) smartly, you’ll then deliver an automated sequence of emails to that lead to provide them even more content — and eventually a sales pitch.
Here’s how EOFire does it:
Step 1: Lead Magnet
John created two free email courses that he uses as Lead Magnets: a Free Podcast Course and a Free Webinar Course. He made these easy to find all over his site.
Step 2: Marketing Automation
Upon signing up, leads are entered into an Infusionsoft automated marketing sequence that delivers 10 to 15 days of free content packed with some of John’s best strategies for launching and hosting successful podcasts and webinars.
Step 3: The Pitch
The Free Courses not only serve up advice on how to be successful with your own podcast or webinar, they also give leads the opportunity to join one of EOFire’s paid courses — Podcasters’ Paradise and Webinar On Fire.
But do these free email courses actually convert leads and drive revenue?
Because the EOFire team has set up Infusionsoft tagging on all leads who sign up for these courses — and you should too — we can use SegMetrics to see just how valuable the 1-2 punch of Lead Magnet/Infusionsoft automation has been.
We’ll walk you through the simple process.
First, we’ll create the segment in SegMetrics…
And we can now we see the real lead value for the people who signed up for those Free Courses.
In 2015, the 21,617 people who signed up for those Free Courses brought in $900,842 in revenue. That’s an average Lead Value of $41.67 (Lead Value = Revenue / Number of Leads)!
(Note that this type of easy, powerful data analysis is not available inside Infusionsoft, nor in any other Infusionsoft analytics tool. Only SegMetrics.)
What about people who didn’t join one of EOFire’s courses? To see what they’re worth, we create a segment of all leads who DON’T have those Free Course tags …
The 34,439 leads who have NOT signed up for those free courses have brought in $658,260 in revenue. That comes to an average Lead Value of $19.11.
That means that leads who sign up for the Free Podcast Course and the Free Webinar Course are 118% more valuable than leads that don’t.
Let’s step back and think about just how valuable this free content strategy is to EOFire.
In 2015, 39% of EOF’s leads joined one of their free email courses. On average, these leads are worth $22.56 more than leads who don’t sign up for the free email courses. This is in large part because these funnels are so good at giving high-value content and converting people into paying customers.
Even with stagnant lead growth, if EOF could increase the percentage of leads that join a free mini-course from 39% to 49% — and the Free Courses continued converting 118% better — that would add $126,424 in revenue in 2016. Just from giving away a free course to more people!
And not only are each of those “Free Course Leads” worth 118% more than average leads but the sales funnel is entirely automated.
Instead of taking hours to plan and promote a live webinar or write new copy, EOFire can automatically deliver the high-impact content it already has. This means that John and the EOFire team actually have time to relax, sleep or dream up new ways to grow their business.
That’s why we invented SegMetrics: So that smart companies like EOFire can get the answers they need to grow their Infusionsoft businesses and enjoy the rewards of a successful business.
And Answer #1? Yes, EOFire’s free email courses are money-makers, and John should put more energy in sharing these valuable tools.
