4 Types Of List Building Offers You Need

Welcome to Million Dollar Grit, the podcast that dives deep into the world of entrepreneurship, where tenacity meets strategy and dreams meet reality. My name is Julie and I explore the raw, often overlooked truths of what it takes to succeed in business and in life. It's not just about the glossy success stories. It's about the grit it takes to get there. Hey, this is Julie. Hope you're doing amazing today. I want to talk about lead quality. I know that may on the front end sound like a boring topic, but it's actually not. And the story behind this goes as follows. I have a client and she reached out to me in Voxer and she was discussing an offer that wasn't converting very well. And it's instinct for anyone to immediately think, okay, the offer's not good, or possibly the sales message or the sales page isn't good, the price is wrong, and all of those things are incredibly important. I spend lots of time talking about those things, but in this case, the offer has sold before. There is some market validation. The next question that came outta my mouth was, well, you know, what's the source of the traffic? And she said, you know, this is from my email list, but a majority of these people have gotten onto my list because of a quiz. And so this took us on a discussion about the quality of your leads, the quality of your traffic. So if we are looking at any kind of online business, we grow our email list through free offers. That's, you know, usually how it's done. We also have in our arsenal as marketers, we have these low ticket offers. And so I want to sort of rank them, talk about the different categories, and then have you take inventory of your business and look at, okay, well, what quality leads am I attracting based on what free offers and gifts are out there? So I actually want to start with the highest quality lead first. And it's a little bit of a misnomer here because the highest quality lead that you can get in your business to sell, you know, your products is actually a customer. But we're talking about the customers who spend a very small amount of money. So right at the top, the very highest quality that I've seen are people who buy your low ticket offers. So technically, their customers, those folks are already showing that they're willing to take their credit card out when the offer is right. So if you have your, your classic sales funnel, you click on a Facebook ad, you're invited to purchase something that's 27 or $37, there's an order bump, there's an OTO. And, and that is the high, the highest quality lead slash customer that you can get. And they are most likely to be buyers of bigger things. In fact, I have lots of people say, well, how can a $37 product predict whether or not someone's gonna buy a $25,000 program? You can't predict it, but I guarantee you someone who's willing to spend $37 in your funnel is more likely to buy a $25,000 program than someone who, who has never taken their credit card out. So right under that I would put micro trip wires. These are slightly different than your classic low ticket course funnel. These micro trip wires are usually less than $15. So you know, $9, $7, $5, $3. They're usually some sort of template or file of some kind. It's like a paid lead magnet, if you will. Those are also high quality leads because they are getting their credit card out, but they're not spending, you know, 27, 37, 47. They're only spending 3, 5 or 7. So if you don't have either a low ticket course or a micro trip wire in your company, in your business, you may want to consider because they do technically cost more to acquire the customer, but then they are a better lead, much, much better quality on your email list. So then we go down and the next sort of level of commitment underneath getting a credit card out would be things that are event based. So free offers that are event based consist of webinars. Right. So live in time webinars challenges. So live free 5 day challenges workshop series. Right. So we, we taught a three part workshop series where it's a free class for three weeks in a row on like say a Monday. You know, those are high quality leads because you're asking people to commit time and energy and attention. And so while they're maybe not quite as high quality as a paying customer, they are going to be, you know, technically more expensive when it comes to Facebook ads. And so people might be like, well, I can get leads for cheaper if I do a quiz. Sure you can. But quality wise, you're probably getting a better lead. When someone is willing to participate in some sort of event, you might actually want to put a free phone call in there as well. If you offer like free strategy sessions, that would be sort of an event based, like the event is the coffee chat, if you will. So that's kind of the second level underneath the, the low ticket course micro tripwire customer lead type people. So if we go even lower than that now we're getting into a little bit less high quality, but can still be great leads. And these are people who purchase, I'm sorry, not purchase. They download free gifts most often. These are checklists, these are PDFs, they may be ebooks, guides, workbooks, things like that. They are your classic freebie, if you will. We call them opt ins, lead magnets, freebies. Those can oftentimes be cheaper than what it costs to get someone to attend your webinar. But again, quality wise, it's going to be a little bit lower. And so those are easy to put out, easy to run and tend to, you know, depending on your niche, you can get still one $2 leads off of Facebook ads if we go one level lower. Now we are in the lower quality bucket of quizzes and giveaways. And so these types of free offers tend to attract freebie seekers. Even though you can find good, good people in there, more than likely the quiz is going to be that sort of impulsive, like, I want to take this and I just want to get my results. Assessments. If you, if you position your quiz a little bit more like an assessment, then you sort of communicate psychologically like, hey, this is going to take some time. If you make your assessment involved enough, I would actually take that and now move it over to the event bucket, in which case you probably have a high quality lead. But you know, back in the day when you, you know, we're scrolling on Facebook and you see all those like play buzz quizzes like what Disney princess are you? Those kinds of things. All those quizzes that like get the leads, get you lots and lots of leads tend to be very low quality. And I put in that bucket giveaways as well, since people are going to throw their email in the ring for some free, you know, chance to win something. And so those are in the lowest bucket. There is technically a lower bucket, but it's not necessarily a lower bucket, it's just a shadier bucket, if you will. And this is buying email lists outright. You're not supposed to do this, scraping email addresses. There's a lot of gray hat tactics where you're not even putting out a free offer, you're just gathering a list from somebody else, whether you're paying for it or not. You have no idea what the quality of that lead is. Right. You don't know how dead the list is. So I, I definitely don't recommend that. But, so you're hearing me talk and you're looking at what free gifts you have in your company. Ideally, you Want to have at least one free off it in one free offer. Sorry guys. In every bucket. Except I don't really think you have to have one in the quiz or giveaway bucket. I think quizzes and giveaways can work well if you're trying to like quickly grow an account, like a social media account, it's, it's a little bit more of a vanity metric, but you'll see like Instagram influencers and stuff, they do giveaways and it like blows up their account. They're not actually expecting that all those leads are going to be high quality leads. So you say, okay, in my company, do I have a free gift that is, you know, PDF checklist, some sort of ebook or guide? Do I have a free gift that's event based, meaning a challenge or a workshop series or a webinar or a phone call, or if you have an assessment that you can make pretty detailed so that it takes a commitment of time. That is the key. The commitment of time is what drives the quality that lead up. And then do I have something low cost, either in micro tripwire form or in low ticket course form and do I have one in each of those three buckets? And if you do, awesome, yes, you could totally try a quiz or a giveaway, but if you don't, I would recommend that you get one free offer in each one of those buckets. What's that? What the, what that is going to do, my goodness, I can't talk today, is it's going to sort of cross pollinate your email list. So not every lead that comes in the door will be super high quality on the PDF on the checklist, which is fine, but a lot of them will be. And you'll have a lot less of the customers buying the micro trip wires or the customers attending the webinars, but those will be higher quality. And so you'll get the best of both worlds. You'll get the speed of growing a list quickly, you'll get the quality of those more commitment heavy type gifts and then you cross pollinate it together. And then you can be reasonably certain that when you deliver an offer to this list and you've done a decent job with the funnel, with the offer, with the sales message, you should get a 3 to 5% conversion rate. But if your list is being built off of one PDF checklist and some quiz out on the Internet, you're not really going to be able to depend on that 3%. So I hope this was helpful. If so, please leave me a review. Hit me up on Instagram. Send me a DM and I'll talk to you soon. And there you have it, folks. Another dose of Million Dollar Grit. I hope today's episode has left you feeling inspired, equipped, and ready to face your own entrepreneurial journey with resolve. Remember, until next time, embrace the struggle, harness your grit, and keep pushing forward. You're stronger than any challenge you face. I'm Julie, and this has been Million Dollar Grit.