The term “lead magnet” is seemingly everywhere these days. A quick perusal of the internet will bring you countless sources claiming to know hidden secrets about the top X lead magnets or how to turn your website itself into a lead magnet.
While lead magnet is more of a catch-all phrase nowadays, there is one type of marketing campaign that effectively gathers not only the most leads but the best leads as well: online quizzes.
Not all leads are the same: Some will convert at a close to 100% rate while others never stood a chance. Marketers have to find ways to make sure that each lead is as high-quality as possible in order to achieve the most success — and quizzes are perhaps the best solution.
Quizzes — yes, those same quizzes that your high school friends keep sharing on Facebook — are an interesting way to both get and convert leads. In a world dominated by lead magnets, quizzes may be the most magnetic. If you want leads to stick, you simply need to use quizzes in your marketing strategy. Here’s why.
How marketers can use quizzes to generate leads
The fact of the matter is that quizzes on average provide a much higher raw lead generation rate. The average opt-in rate for most email marketing campaigns sits at 1.95%, with anything above 4.75% being in the upper echelon. Quizzes, when optimized, can easily get up to a 40% opt-in rate — that’s an 8-10X improvement. Why is this the case?
The rapidly maturing Gen Z simply doesn’t have the attention span to respond to many of the current marketing tactics — you need something that will quickly get in and out and grab the lead. Quizzes offer a solution to this problem, where people can quickly find out a piece of vital information about themselves while giving you their contact information.
Of course, there is a bit of skill that goes into collecting leads — you can’t just throw them into a quiz and expect results straight away. Typically, lead forms work best when given right before the results: Once they have spent the time taking the quiz, quiz takers are much more likely to give their information before seeing their results. Furthermore, don’t make the lead form mandatory – this actually scares people away.
Qualifying leads based on their quiz responses.
Once the leads are stuck to the magnet, it’s still not certain that they will stay there. Most leads are being squandered by companies who don’t effectively interact and qualify them. A massive 71% of leads are lost by online companies. The problem is that many of these leads remain virtually unknown beyond an email address, leaving marketers little ability to personalize marketing campaigns.
It’s safe to say that well-qualified leads are much more valuable — the only problem is that companies find the qualification process difficult. Luckily, quizzes offer an easy way to get around this problem — and they can be done in a way so that the customer doesn’t even know it’s happening.
Quizzes are an organic means to quickly gain information about each lead — in order to automate follow-up campaigns that leverage the in-depth information gathered through each quiz.
Here’s an example: Imagine you’re a financial planner — providing advice to high income middle-aged and retired clients. You could create a personality test “Are you actually (financially) ready to retire?”. The quiz could naturally include questions like “What’s your annual income?” and “How many more years do you plan on working?”.
Each quiz taker will answer naturally — as they’re keen to get the results of the quiz. You can then use each question response to qualify your leads — you would tag people who answer both “$100K+” and “aged 45 to 54” or “55+” as hot leads for rapid follow up. All other leads would be tagged “unqualified” — and you would not involve your sales team or send your marketing messages.
Next you can specifically design marketing campaigns to them. Most top-quality quiz makers will even let you automate this process, saving time and money while drastically improving conversion rates.
Convert more sales with targeted special offers or product recommendations.
Even better, good marketers can include some sort of incentive to entice their users into filling out a lead form. This depends on a company’s specific industry, ranging from a free consultation to discounted products to free ebooks. Giving something of value will increase consumer trust even before they become a customer, giving the company a valuable head start.
In addition to a lead form, companies can put a call to action button at the end of the quiz personalized around each quiz taker’s results. Ideal for product or content recommendations, quiz takers are are much more likely to click and engage around call to actions that are specifically geared towards their interests. In the hands of a good marketing team, this process of quiz-powered recommendations is as easy as shooting fish in a barrel.
Lead magnets are almost a misnomer these days, with nearly every type of online method claiming to have some sort of mystic marketing cure-all. Of course, no campaign is perfect: It’s impossible to convert every lead. But with quizzes, marketers are able to not only find the most leads — they also find the best leads.
