Market, Scale, Grow: Facebook Ad Marketing Strategy for Teacherpreneurs

201 | Matching Your Lead Magnet to Your Audience [A Case Study]

• Jenzaia • Episode 201

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Traditional lead magnets aren't always the right choice for every business, especially when targeting time-strapped, cash-rich B2E clients who need efficient solutions rather than DIY resources. 

Through this client case study, I explore way you can match your lead generation strategy to your specific audience's needs and preferences (and your own!)

In this episode, we'll chat...

✨  The differences between B2C and B2E audiences
✨ What to do when a traditional PDF lead magnet isn't right for your audience
✨ Three steps to identifying the RIGHT lead magnet
✨ Some of the expected trade-offs with different types of lead magnets including conversion rates and costs per lead

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Speaker 1:

Hello and welcome to this strategy session. So excited to have you here. If we've never met before, I'm Tinsaya. I am a mama, a teacher, business owner and I run Facebook ads because I love doing hard things. That's what my best friend said to me the other day when I was helping her with her ad account. Today we're going to be talking about how to pick your lead magnet, and I'm going to be basing this conversation on a conversation I had with a client earlier this week, and I guess how to pick your lead magnet isn't necessarily the right option. I think maybe it's better to say, like, what to promote in your business when a freebie opt-in isn't the right choice. That's probably a more accurate statement, because I think that there are definitely times when a free download of some sort is the right option, but then there's other times where it's not. And so recently, getting started on an ad sprint, a client and I were talking and we decided that a free lead magnet pdf download was not the right choice for her, and I want to just chat through this in case that's the the case for your business as well.

Speaker 1:

So a little bit of background information on this client number one. This is a new iteration of her business, or like a side venture, if you will. She's had her main business for over 10 years and she's kind of branching off into this new area, a new way of providing her expertise, and so she doesn't have a gigantic email list or gigantic audience of people who need this thing. She knows that it's valuable, she knows people want it, but she doesn't already have all of the contacts like she does for her main business and that our end goal is on-demand trainings. She has an audience that is similar to a B2E, so business to entrepreneur type business. This is where you're selling to the CEO or someone who's high up in a business and has purchasing decisions but is also really busy and has a lot of commitments on their plate. They're no longer in the startup phase. They're no longer in the pinch, every, every single penny phase. That's possibly because they're like in a vp position or some sort of managerial position where they have a large budget that they're able to spend, or it might just be that they're full-on CEO again wanting to spend a budget. So her audience has a good amount of financial resources and doesn't have a lot of time resource, and so we had to look at this from that angle.

Speaker 1:

Most of my clients and most of the time I'm talking to people who are serving teachers or homeschoolers or moms these people tend to have a lot of time when you're serving a consumer. So B2C, business to consumer your clientele usually has a lot of time, not a lot of money, and they want to figure out how to DIY it, do it themselves, least amount of money. They're willing to piecemeal different things together so that they can get what they need without having to pay a lot of money. It could be beginning of business too. So that's a typical audience that my clients have and this obviously does not fit that bill because it's the opposite not a lot of money sorry, normally it's not a lot of money but a lot of time. And for these ones this client, her audience is not a lot of time, but they they do have money, and so we really had to think about it from that angle.

Speaker 1:

Now, she, my client, had already created quite a few different assets for her business. So she already had a free lead magnet, a free PDF download, she already created a five minute video training and she already has everything set up for people to book a call so they can determine which of her on-demand trainings makes the most sense for them. We also talked about using a webinar, so that's more of like a 45 minute, 60 minute training with a sales pitch at the end, and we talked about live launching. So the first step that we did was list out all of the different lead magnets and then, once we kind of I had a good idea of all the lead magnets and all of the options, we talked about her audience's needs as well as her needs. So I already talked a little bit about this in kind of the introduction.

Speaker 1:

Basically, these people aren't likely to download a freebie and they aren't likely to sit through a really, really long training Again, not a lot of time. So they don't want to be having to piecemeal things together from this freebie and that freebie Not a lot of time. So they don't want to be having to piecemeal things together from this freebie and that freebie Not a lot of time. So they're not going to sit through a 60-minute training, right? Additionally, my client is at a point in her business and her life where she doesn't want to be live launching regularly. So her main business is pretty busy, her life is pretty busy and live launching is not in the cards right now.

Speaker 1:

So we needed one of the options that could be evergreen, ongoing but also wasn't going to take up a ton of time of her audience, and that left us with two options. Option number one was the five minute video to booking a call, and option number two was direct to booking a call. So now that we identified which lead magnets might make the most sense for her, we had to really look and think about identifying which option was the absolute best for running ads to cold audiences, people who've never heard of her before, because, like I already said, she doesn't have a large list for this iteration or this part of her business. One of the main reasons that we settled on running the ads to the five minute video with a call to action to book a call is because of that cold audience piece, because these are people who've never heard of her before. They're going to need some warming up.

Speaker 1:

I say this all the time, but trust in the online business is at an all-time low, low, low. It is harder now than it was five years ago. Low, low, low. It is harder now than it was five years ago, 10 years ago, to get people to just like snap a finger and buy, and so you do need often some sort of warming up to happen before they're going to buy. The way that her landing page is actually set up the video is there, it's available free. You don't have to put your email address in, you don't have to do anything, you can just watch the video and then leave. So the way that that's set up gives people that freedom to come and watch the video, and then right underneath the video is a link to book a call, and then further down are the different on-demand training options that she has available, and if you click on them for more information, it actually takes you to the sales page. And so, while our main goal is going to be getting people to book those calls because that's another trust builder once they hop on that 10-minute call with her after seeing the video, they've built that trust. They're building a relationship. Hopping on that call is a really, really great way to solidify that relationship, really solidify the trust, and then for her to make the sales pitch on the call. But if, for whatever reason, they're even more crunched on time or they know exactly which one's the right option, there are the links that are also available there, so people can watch the five-minute video and then hop straight to the sales page and get started with those on-demand trainings right away without any delay, which I also really liked that piece of the puzzle for this specific audience.

Speaker 1:

So some of the downfalls to this type of funnel is I already mentioned this but we're not collecting email addresses and so, especially with newer people who are newer to facebook ads, I really like to have collecting the email addresses, because that's a really powerful metric for you to see. Okay, my money is doing something. So many people have had negative experiences with Facebook ads where they boost a post and expect all kinds of wild things to happen and nothing happens, or you don't really know what happens, or you're not able to track what happens, or whatever. So when we run ads to a lead magnet and we're getting email addresses on, there is a very specific thing that happens. It usually happens really quickly and it typically happens for a very reasonable cost per result. So I really like that. But in this case we're not collecting email addresses, so hundreds of people could go to this page, watch the video and nothing happens, and we don't have any way we don't have the same way to continue to market to them as we would if we collected their email address.

Speaker 1:

Now, some of the ways that we're getting around this. Number one the pixel is installed so we're able to use that audience and retarget them down the road or bring them back to that page, bring them back to the book, a call page. So that's number one. Number two she has an exit pop-up on the page. So when you go to exit off the page, this pop-up comes up and some of the people will hopefully opt in, even if they might not be interested in signing up for a call or purchasing one of the on-demand trainings right away. So having that exit intent pop-up helps to, will help to capture some of those leads and so, again, not our main purpose, but it is nice to have it there to recoup some of those people who might be lost otherwise.

Speaker 1:

Number two with her specific tech setup, we won't have a ton of data based on video view. So some platforms allow you to see what percentage somebody has watched, when they dropped off, how many times they re-watched it, have very granular data, but this specific platform doesn't. So we will be able to see how many people viewed the page, how many people clicked the button and went to book a call? How many people viewed the page? How many people clicked the button and went to book a call? How many people actually viewed the video? But we won't be able to get more specific or more granular there, and so that I put in the downfalls.

Speaker 1:

But she and I talked about that and we're kind of looking at this type of advertising or like this type of promotion, similar to a radio one or a billboard or postcards, where you put it out in the world and and you can't really like track anything. Billboards, for example, they have statistics on how many people drive that specific road each day and, like I'm thinking of realtors, they have these gigantic boards. Let's just say it's a busy road that has 10,000 cars that drive it every single day. That's what we, that's all we know, right, and so if, after you put this billboard up, you have a 1% increase in calls, it could be because of the billboard, absolutely. But maybe it's because you recently sold a house and the person that you were helping has spread your word to every single person they know and suddenly all their friends are calling you right, like as a realtor, when you put up a billboard or one of those bus advertisements or whatever it might be.

Speaker 1:

You don't necessarily know where people got your name from. Also, I'm thinking of like a very specific realtor in our area, in my area, and if I were to use him I wouldn't even know what to say, like where I heard about him. I hear him on the radio, I see him on billboards. He used to live in my neighborhood and so he was friends with people and we would see him at neighborhood gatherings, like when they did the Easter hunt in the park or when they brought the firefighters to the park, at gatherings, like when they did the Easter hunt in the park or when they brought the firefighters to the park at all, like they did all these events at our community center. That was just down the road and we would see him there and people we knew would be interacting with him and we'd be having conversations with him and you know, like he just was part of our circle, like extended. I wouldn't say he was like in our direct circle, but he was in the next circle out around us and so had we, when we moved, used him. I literally couldn't have said, oh, it's because I heard his name on a billboard, or because I heard him on the radio or because a friend recommended him, because all of those things kind of happen simultaneously.

Speaker 1:

So I'm digressing severely here. But we will have to keep that in mind, that we're not going to have those numbers available for some of the things that I would want, like I would love to have information about percentage of the video viewed when people are dropping off. I would really appreciate having that, but we won't and we're just gonna have to move on from it and recognize that advertising works by showing up everywhere and that omnipresence and this reality because of the situation, and that is, quote unquote, a lower conversion rate and quote unquote higher cost per results. And why I'm putting that in quotations is because, yes, we will be a lower conversion rate in comparison to a typical lead generation ad. This is lead generation. She's trying to get people to book a call, to generate those leads, to get them to purchase the on-demand trainings. These are lead generation campaigns.

Speaker 1:

However, in our mind, lead generation campaigns are free downloads, getting people to sign up for the freebie, get their email address, or maybe it's for an evergreen webinar or maybe it's for a summit. Those are the more typical lead generation type campaigns that we talk about on this podcast and I think that we have in our brain and this watch a movie, watch a movie, no. Watch a video, sign up, book a call. These are going to have lower conversion rates by nature because it's a bigger ask. It takes more energy from that person's the lead, the potential lead. It requires more energy, more time, more effort for them to sign up for a call. It's definitely less work, less of a demand to put your email address in to get a freebie. The higher the demand, the lower the conversion rate is. So that's just absolutely normal part of advertising.

Speaker 1:

The more you ask someone to do, the less likely they are to do it. Second of all, the higher the ask, the higher the cost, and so this is very similar that the more you want someone to do, the more complicated it is. The more more time consuming it is, the higher it's going to cost, the more the advertisement is going to cost to work, which results in a higher cost per lead. When someone enters their email address to get that free download, it's a very low ask, whereas asking someone to book a call and jump on that 20 minute call with you is going to be a higher ask and therefore a higher cost, and so, yes, there's a lower conversion rate and a higher cost per result. But that is to be expected with this type of ad and we want to be comparing apples to apples and not apples to oranges, and comparing a typical lead generation campaign to this type of lead generation campaign will be comparing apples to oranges, and so that's really important with all campaigns to remember that the higher your ask of your audiences, so the more complicated it is, the more time consuming it is, the more intensive it is, the harder it is going to be to get them to do it. So, lower conversion rate and the more it's going to cost you, higher cost per lead. And also the more steps that someone needs to take is going to result in a lower conversion rate as well, because at every single step that someone has to take, they're going to fall off. So in this case it goes add to landing page to view the video, to book a, a call to actually show up to the call, right, like there's a lot of intensive steps, whereas with the lead generation, those typical ones, it's add to landing page, enter your email and we're done. Typically so, though, all of those play into it and so kind of a downfall, but 100% to be expected.

Speaker 1:

Now let's talk about the upsides. So upside number one is that this is the perfect lead generation for my client and her audience, and that's the really, really important thing that I want to drive home is it might not be the typical thing that I would recommend. It may not be what you're seeing a lot of, but that doesn't mean it isn't right for you and it isn't right for your audience, and that's why it's always really, really important to take those into consideration before starting to run ads. What's right for you? So in this case, like she didn't want a live launch, making sure that it wasn't a live launch type of advertisement and then second, what's right for the audience, and we talked about this. They have very little time but money, and so we want them to be doing something that takes very little time and gets them to the purchase point quicker.

Speaker 1:

Second upside is that we can actually also use the video on the landing page as an ad itself and have the CTA of the ad be book, a call, and so in this case, we can A B test two different ads One driving people to the video so they can watch the video, and the other one having the video play in the platforms like as a native video in the platforms and then with the link being book a call, and so they skip the step of going to the landing page and hopefully still get the content. Now, historically, when I've ads like this and I've a b tested those two options, the landing page actually will often do better because they're more primed and ready to watch a video, especially a five minute long video. Uh, when a five minute video pops up on instagram or facebook as a native video within the platform, it is much less likely for someone to want to sit through that. So it's always good to A-B test something like this and I am calling it an upside because it gives us more versatility and more options with the ads, and that's always a good thing. And then I already said this, but apparently I wrote it twice is that it's the right fit for the audience and the client and like that's all that matters. That's my first upside and my last upside what's right for the audience and what's right for the client is right for the ad, and that is what is most important.

Speaker 1:

So if you have been struggling with creating a lead magnet that makes sense for your business, maybe what we just chatted through right now. This case study is perfect for you and your business and it will give you a really good idea, or starting place, of some of the steps that you need to take. So just to reiterate those steps, the first step we did was consider all the different lead magnet options, list them all out, chat through what they would look like. Step number two was to look at the type of audience and their needs, so that we could, in step three, compare the lead magnet options to the needs of the audience and what type of audience was, so we can select the best audience. I really hope that this was helpful. Thank you so much for being part of this Saturday strategy session and I'll be back next week with a brand new episode. Bye.