Black Entrepreneur Blueprint 646 - Jay Jones - How To 3X Your Lead Magnets - A Case Study

[00:00:12] Welcome to Black Entrepreneur Blueprint, the number one podcast and resource for Black entrepreneurs. I'm your host Jay Jones and Black Entrepreneur Blueprint was created specifically to educate and inspire Black entrepreneurs to launch, build and grow successful, sustainable businesses. Join us as we help build an economic power base in the worldwide Black community by building and supporting Black owned businesses.

[00:00:41] If you're currently an entrepreneur or want to be an entrepreneur, you're invited to join us each and every week here at Black Entrepreneur Blueprint. Welcome to the BEB family and get ready to elevate your entrepreneur IQ. Welcome to the Black Entrepreneur Blueprint episode number 646.

[00:01:07] I'm your host Jay Jones and today we have another outstanding and informative show in store for you. Today's show topic is how to 3X your lead magnets a case study. How to 3X your lead magnets a case study. Today I'm going to tell you guys about a case study that I had from one of my businesses and how I increased my lead magnet response to over 3X just with a simple thing.

[00:01:37] I didn't change anything about the traffic flow or anything about adding money to my ads accounts or anything like that. The total and only change I made was to the lead magnet. So we're going to get into that today. Now before we get to today's show content, let me just share a few things with the Black Entrepreneur Blueprint family. First and foremost, I want to welcome all first time listeners to Black Entrepreneur Blueprint. Welcome to the BEB family.

[00:02:05] Please stick around until the end of today's broadcast and I'm going to share all my social media contact information and resource links such as the link to the new website, which should be out by the time you hear this. Go to blackentrepreneurblueprint.com. We have a whole new revamped and revised website. We also have an assessment on the website that's going to help you grow your business. It's a free assessment and it takes about 2 to 3 minutes to actually take the assessment.

[00:02:35] So let's get ready for today's show content. So you guys know I always talked about with this podcast actionable steps moving from point A to point B. Hey, it's not a rah rah try to get you all amped up podcast. We talk actual facts and I talk about things that I have done or have or am doing currently. So one of the things that I always talk about guys is lead generation and the importance of how to generate leads.

[00:03:04] I always say no leads equals no sales equals no business. And one of the biggest factors in generating leads guys is your lead magnet and a lead magnet is a piece of content. It could be a PDF. It could be a video. It could be an e-book, whatever it is that makes somebody raise their hand.

[00:03:25] And in exchange for that content, they're going to give you their name and email address and sometimes even the phone number depending upon what you're trying to get from them. So a lead magnet is something to help you build your database. And remember this guys, the most valuable part of your business guys is your database. So if you have a business and don't have a database, I'm telling you right now, that's the first thing you have to work on.

[00:03:51] You have to build a list of prospective customers, current customers and prospective customers. So you'll be able to reach out to them at any time with any message that you want. Now, I've said this before and I don't want to veer off too far, but a database is not a group of Facebook followers or Instagram followers or Twitter followers because you can get banned and get shut down from those platforms.

[00:04:20] Trust me, been there, done that, right? And so what you want to have is a database of emails, email database, name, email, phone number. All right. So if you have that, now you're able to reach out to your customers and prospective customers at any time. Okay. I'm not going to go into the horror stories of people that have only built a business based on a social media platform like Instagram.

[00:04:47] And then when their IG account gets shut down, their business basically gets shut down. They have no way of reaching out to their customers. So you want to have a database that you own and control. All right. So I just want to make that clear. So today we're going to talk about how to 3X your lead magnets, a case study. So if you guys know or listen to the show for any period of time, you might know that I also have a mortgage business.

[00:05:15] So this is my second mortgage company that I had. And it's a small boutique mortgage company. And it's pretty much myself. I have a virtual assistant. And then I use marketing and also my contacts to generate leads. But one of the verticals that I work with is helping people who are in foreclosure stop their foreclosure. So I have a site, a landing page called stopforeclosurehotline.com.

[00:05:47] Stopforeclosurehotline.com. Now you can go and check it out. But please, if you're not in foreclosure, don't go through and fill out all the information. All right. But go to stopforeclosurehotline.com. Now, my initial lead magnet, and I want to give you guys some numbers, and then we're going to break this down. My initial lead magnet was a PDF on how to stop foreclosures. Okay. It was an initial PDF. If you're in foreclosure or about to be in foreclosure, you don't want to lose your house.

[00:06:17] This is a PDF that taught you how to stop foreclosure. It gave you a whole bunch of tips. It probably was about four or five pages long. All right. So let me tell you, and I run ads to these, you know, through various social media platforms and other lead sources. So I run leads to the stopforeclosurehotline.com page, landing page. And let me tell you, in the first 30 days with this lead magnet, let me tell you the numbers.

[00:06:46] So in the first 30 days with the PDF download, I received 27 downloads, 14 exploratory calls, three applications, and one closed loan. Okay. Now that all didn't happen. I didn't close the loan within 30 days because it takes longer than that. But these are the numbers from the first 30 days.

[00:07:09] So I'll repeat that 27 downloads, 14 exploratory calls, three applications, and one closed loan. All right. So that may sound pretty good to you, right? 27 downloads in 30 days. That's almost one download a day. Now I was spending about $5 a day with Facebook ads and other social media ads to generate traffic to this landing page.

[00:07:36] So FYI, guys, if you create a landing page and you think people are just going to show up there by happenstance, you're sadly mistaken. So you do need to drive traffic unless you have another way of driving traffic, if you have your database or whatever to drive traffic. But if you're looking for new prospects or new customers, you're going to have to spend money to drive traffic unless you have a platform that can drive traffic for you.

[00:08:04] So that was my initial lead magnet. So I always talk about online quizzes, right? Working at maximum efficiency. So what I did was I changed my lead magnet to an interactive quiz and it's about seven questions long now. And what that interactive quiz, it leads to get my fast pre-approval now. So if you're in foreclosure, there's two things I want you to recognize.

[00:08:32] If you're in foreclosure or about to go in foreclosure, now, are you more apt to download a PDF how to stop foreclosure right now? Or are you more apt to take an interactive quiz that says get my fast pre-approval now? Okay. So let me tell you the numbers. The first 30 days with the interactive quiz, I received 53 quizzes. Now, I didn't change my advertising dollar spend or anything.

[00:09:01] 41 exploratory calls, free consultations, 21 applications and 11 closed loans. Okay. And that was with my first 30 days with the interactive quiz. So let me give you the basic results versus the initial PDF download. So with the quiz, I got 26 more responses to the landing page. Initially, I got 27. With the quiz, I got 53.

[00:09:29] That's almost two times as many responses, 2x. Now, I got with the PDF, 27 exploratory calls, which is a free consultation versus 27 more, excuse me, 27 more exploratory calls, 14 with the PDF. And 41 with the interactive quiz. That's 292%, almost 3x.

[00:09:56] Now, I got 18 more applications, 21 applications with the quiz and three applications with the PDF. So that's 7x more applications. Now, I got 10 more closed loans. I had 11 closed loans versus one closed loan. So that's over a thousand percent. That's 11 times. Okay. More closed loans. And now let's talk about the revenue. All right.

[00:10:22] My revenue, I went from the PDF generated $2,933 from that one closed loan versus $33,143 versus the 11 closed loans. So that's 11x. So in a nutshell, guys, in terms of generating revenue, I 11x my revenue just by having the quiz versus a simple static lead magnet. Okay.

[00:10:52] And we want to talk about some of the takeaways from this case study and how you can actually utilize quizzes for your business also. Now, I'm going to give you five takeaways from this case study. And you guys saw or heard by the numbers the difference not just in revenues. That's just a byproduct of having a better lead magnet, but also in the number of qualified leads that I got.

[00:11:19] So takeaway number one, I call this the PDF graveyard. And why do I call it the PDF graveyard? Because most times PDFs and downloads like that, they get abysmal conversion rates. People don't want to sit down and read whatever PDF it is.

[00:11:39] So for my example, even though people were in foreclosure, which is very traumatic, they didn't want to sit there and read a four to five page, you know, how to stop foreclosure PDF. So PDFs guys are very, in terms of conversion rates right now are not that great. Do they work? Yes, they do work, but they're in the PDF graveyard. People are looking for other and faster answers as opposed to sitting there and reading a PDF. Okay.

[00:12:08] So you want to have something that people can get into and get the information quickly without doing a whole lot of work. So takeaway number one, a PDF as a lead magnet is probably going to be a graveyard. So you're saying to yourself, Jay, all right, what else can you do besides quizzes? You have videos, you have tutorials, you have workshops, things that are a little more interactive. So that's takeaway number one, the PDF graveyard.

[00:12:39] Takeaway number two, the interactive upgrade. All right. So you want to replace that static PDF download with a quiz or something that's interactive. That's going to get people engaged. Okay. So when they came to my website and the first thing they saw was the download, you know, that's okay. But now they have an interactive quiz that leads to get my fast pre-approval now. So they're not going to have to read anything.

[00:13:06] They're going to go through this short five to six question quiz. And at the end, it's going to qualify them. Okay. And we'll talk about that in a second, but it is an upgrade. People right now like the interaction. They like to have things instantaneously. So if you fill out these five or complete these five quick questions, I'm going to see if I can pre-approve you right now for your foreclosure bailout.

[00:13:34] So which one do you think people would gravitate towards more? Hey, let me download this four to five page PDF and read how I can stop foreclosure. Or let me fill out these four to five questions real quick. And then I can get a pre-approval to stop my foreclosure. Okay. So it's all about the concept of what you're offering as a lead magnet and what's more attractive and simpler for people to do. Okay.

[00:14:02] And I know reading is nothing hard about that, but people want answers immediately. And that's takeaway number two. And today we're talking about how to 3X your lead magnets a case study. Number one, take away the PDF graveyard. People don't want to read PDFs anymore. Okay. Now, if it's something short, like a checklist, that may be a little better. Number two, I just talked about the interactive upgrade, but how replacing static downloads with

[00:14:31] conditional quizzes makes a whole lot more sense. Takeaway number three, the psychology of completion. You know why prospects commitment skyrockets when they receive a personalized output and a custom blueprint as opposed to generic information. Psycho psychology of completion. So now you're answering questions, right? You're actually qualifying or disqualifying yourself based on how you answer the questions.

[00:15:00] And the response that you're going to get back is not going to be a generic PDF, but it's going to be based on your actual answers and your actual situation. So the psychology of completion, that is another takeaway. It's a customized response. It's not a generic PDF. It's not a generic video based on these quiz answers. And it's called, that's why it's called a conditional quiz based on your answers.

[00:15:29] I'm going to give you an output and you can actually go to the website, stop foreclosure hotline.com and look at it. Go ahead and go through the quiz if you want, but please don't fill it out at the end, you know, because I don't want a lot of bogus information on there, but you can see how the quiz flow works. Stop foreclosure hotline.com. All right. And now, so one of the other things is with the psychology of completion,

[00:15:57] people are saying, okay, I completed this short quiz. Now I'm going to get an answer. Am I able to get pre-approved to stop my foreclosure? I don't have to read something that takes me 10, 15 minutes and then try to wait for somebody to call me back. This is something that is automated. Okay. Now takeaway number four, which is super big data driven qualification. So data driven qualification.

[00:16:26] So as opposed to a generic PDF, you don't even know if these people are qualified to get pre-approved for the foreclosure bailout. You now have data driven qualification. So you're asking those three to five strategic, not just regular questions, but diagnostic questions up front. And it allows you to segment your audience and filter out unqualified prospects before you ever speak to them.

[00:16:53] So based on that quiz, if they fill out stuff that basically disqualifies them, I'm not even going to waste my time reaching out to them. They'll get an email from you, which is automated. But if they don't qualify, then guess what? There's no need for me to set up a free consultation or a free call. Right? So we're trying to work efficiently, right? Data driven qualification. So the quiz is actually doing the pre-qualification

[00:17:22] and the people are either qualifying themselves or disqualifying themselves. Another thing that that does is now when you have that, that free consultation call, you already have information where you can talk, educate it to the person. Hey, I see this is your situation. You're scheduled to go to foreclosure in 35 days. You know, this is the plan based on the information that you've answered in the quiz.

[00:17:51] We think we can help you out or whatever the scenario is. But once again, you already have information before you go into the call. So now it's, it's, it's, you already have a diagnostic. You know what you're working with. You know what questions to ask. It makes you look better because it's just like going to the doctor, right? I went to the doctor for, I have a back issue right now. You know, getting older is a monster, man.

[00:18:19] So I have a pinched nerve in my back and it was, it was killing me. So I went to the doctor, had to fill out about 20 pages of paper or actually I did it online. So when I went into the doctor, they already knew what was going on. So now the conversation isn't, Hey, Jay, how's your back? Does it hurt here? Does it hurt there? They went straight to a later stage of the actual conversation where we already had the diagnosis. Let me just check this out.

[00:18:49] And these are some of the plans that we can put into place to help your back pain. All right. So number four, data driven qualification. And these are some of the takeaways of today's show. How to three times your lead magnet, a case study. All right. Number five, high speed routing engine. All right. And what you want to do with these quizzes, guys, you want to set up a backend mechanics

[00:19:15] to route your, your higher qualified prospects to, to get in touch with them immediately. And you can do this with a quiz and based on the software you use, or if you create it yourself, people that are highly qualified, you can, when, when that answer comes out after they get pre-qualified, you can have them, Hey, call me right now or a Calendly link. So you can set up a call immediately. All right.

[00:19:43] And it's a high speed routing engine, as opposed to a PDF where you can have, Hey, call me once you finish reading, ba-ba-ba-ba-ba-ba-ba, set up an appointment. But this does it instantaneously. Okay. High speed routing engine. One of the biggest, uh, conversion factors guys is talking to people right as they complete an application or a complete a quiz because they're in that mindset. They need a solution to their problem.

[00:20:13] So the longer they wait, guess what? The less that, that prospect is going to convert. So the beauty of this concept is guys, you don't have to spend more money on ads. What you're doing is you're converting the people that are already coming to your landing page to get your lead magnet at a higher percentage. Same ad spend, same everything, but you're going to increase the number of people or prospects

[00:20:40] that you have in your database, which should increase the number of sales that you're going to have. Also, it's going to pre-qualify them before you even get there. That's why everything I do now guys is quizzes. Now, before I get to the last segment where I'm going to break down some other numbers for you, let me just share all my social media contact information and resource links. I mentioned at the top of the show guys, the new website, blackentrepreneurblueprint.com. Make sure you check it out.

[00:21:09] We have all types of free resources and we have a new assessment that's going to help you find out what is blocking you from working at maximum efficiency. It's going to take you about two to three minutes. It is a quiz just like I'm talking about right now. Also, if you want to connect with me guys, anything long, hit me on my email, jjones at blackentrepreneurblueprint.com. Facebook, blackentrepreneurblueprint. Instagram, I have two IG accounts.

[00:21:37] The first one is jjonesforreal, J-A-Y, J-O-N-E-S, the number four, R-E-A-L. Second one is blackentrepreneurblueprint. Twitter or X, you can connect with me at jjones001, J-A-Y, J-O-N-E-S, 001. LinkedIn, just type in jjones, SAS Entrepreneur or Black Entrepreneur Blueprint. I should pop right up. Also, YouTube guys, make sure you subscribe to the YouTube channel.

[00:22:07] Go to YouTube, type in Black Entrepreneur Blueprint and hit that subscribe button. Also, for all you first-time listeners, wherever you're watching this episode or listening to this episode, make sure you hit that subscribe button so you'll be alerted when new episodes drop. We drop every Monday morning, 5 a.m. Eastern Standard Time on all your major podcast platforms and YouTube. So I'm looking forward to connecting with you guys and make sure you hit that subscribe

[00:22:37] button. Now, let's get back to the last segment of the episode. All right, guys, here it is in a nutshell. If you want higher conversions, if you want to make more money, if you want to be more profitable, you have to change your lead magnets, right? You can't keep using lead magnets that aren't converting. You want to convert at the highest maximum potential that you can.

[00:23:03] And the beauty about quizzes, guys, it not just increases your conversions. It actually helps you qualify or disqualify people up front. So before you waste your time talking to people, hey, I see you downloaded my PDF and they're not qualified. The quiz is going to take that out of your hands. The quiz is going to qualify or pre-qualify. So here's the key takeaways again. Number one, the PDF graveyard.

[00:23:32] I talked about that ad nauseum. PDFs are not the greatest or the best way to generate leads as a lead magnet. OK, some of them may work and they still do. But you want to get a higher conversion rate. So PDFs are in the graveyard right now, unless it's a checklist or less is something super specific. Number two takeaway, the interactive upgrade. As I mentioned with the quiz, it's interactive.

[00:24:02] People are going to get it and do it real quick. You don't want anything more than 12 to 13 questions. The longer questions you have, the less you're going to convert. And you want to keep it super simple. It's interactive and they can get a response right away. Takeaway number three, psychology of completion. All right. So why prospects commitment to skyrockets? Because they receive a personalized output based on the actual answers to the quiz.

[00:24:31] So as opposed to a generic output, hey, this this PDF goes to everybody based on the answers to the quiz, they're going to get a specific output that's designed for them. Number four, data driven qualification. I just talked about that a little earlier. You have the data now. You have their name. You have their email. You may even have their phone number. They've already qualified or disqualified themselves. And takeaway number five, the high speed routing engine.

[00:25:01] So you can set up through the quizzes. You can have instantaneous responses. Somebody finishes the quiz. They look qualified. You can have an instantaneous pop up that says, hey, you look qualified for whatever the offer is. Here's my link to Calendly to set up a call or call me directly right now within the next five minutes, whatever it is. But those are the takeaways. And let me just explain how I utilize my quizzes and what I do or how I build my quizzes.

[00:25:30] So I utilize my quizzes like this. I'll have a short quiz anywhere from say three to 11 or 12 questions based on whatever the product or service is before they finish to get their answers or response to the quiz. In this case, are you qualified to stop foreclosure? They have to put in their name and email and phone number.

[00:25:56] And the only way they're going to get that is by completing all of those pieces of information. Now, why is that important? I talked about earlier in today's broadcast, the database. So now I have their name, email and a phone number. So that way I can contact them, even though if my social media accounts get shut down, I have them in my database. That's the importance of having a database. OK, so you need to understand that.

[00:26:26] And so the only way they're going to get the results is by leaving that information. And that's paramount. Now, let's talk about how I create quizzes. Now, I used to spend money on software called Interact, right? Try Interact, which is a great quiz software. There's a whole bunch of quiz software out there. But I've really got into what's called Vibe Coding, V-I-B-E, Vibe Coding with Lovable or Base44.

[00:26:56] And all of the websites and landing pages that I've been building, I've been using Vibe Coding to actually build them. And I create my quizzes inside the landing page. And so I'm not spending, you know, $49 a month for Try Interact or some of these other quiz building software. So if you guys haven't learned how to Vibe Code, man, and build websites and build landing pages,

[00:27:24] that's actually something that I'm going to be teaching later on, probably at the beginning of 2027. Because I've built so many different landing pages and quizzes for free that it doesn't make sense. I mentioned also when you get a phone number, you have to be TCPA compliant. And that's the telephone protocol. So you just can't call somebody, you know, like you used to be back in the day,

[00:27:51] just because they put their phone number in an application or a form. You have to be compliant. And they have to check a box and say, hey, yes, I understand that me putting my phone number in here allows this company to call me or whatever. So you have to be compliant, TCPA compliant. All right. And that's a federal law. Okay. So you need to understand when you have a quiz and you have a phone number in there,

[00:28:19] that's something that you need to do. But when I start teaching this in 2027, how to build landing pages and quizzes with vibe coding, I'm telling you, it's going to open up a whole different world for you. So a lot of the software that we use now, people use click funnels and all this. You're not even going to need that anymore. I don't even use that anymore. I don't use any funnel builders anymore. And I used to use a whole bunch of it.

[00:28:47] I probably tried them all, but I create and build my own funnels now with vibe coding. And I like either using lovable or base 44, but the whole key is the prompts. Now I'm not even going to get into that because that's a whole nother issue. But quizzes, guys, I've been saying this for years. They are number one. They're interactive. People will do them more readily than other lead magnets.

[00:29:13] And based on the type of quiz you have, people can get an instantaneous response. They don't have to sit there and read a PDF or watch a 10 or 15 minute video. You can get the information. The benefit to them is it's instantaneous. The response and the benefit to you is you've added somebody new to your database. And remember, the most important asset any business has is the database. All right.

[00:29:41] I say this each and every time I talk about it. But when Borders Bookstore went out of business, Barnes and Nobles, they didn't buy their inventory. They didn't buy the stores. What they did is they bought their database out of bankruptcy. They understood that that database was the exact avatar of the customers that they want to sell to. Right. They didn't need the books. They already had the books. They didn't need the locations. They already had the locations. But what did they need?

[00:30:10] They always need more customers. So your database is the most important aspect of your business. And with quizzes, guys, you're getting the benefit of building your database and also getting qualified leads. All right. So that's really the key. No leads equals no sales equals no business.

[00:30:32] And if you can get higher conversions on your lead generation activities such as landing pages by using quizzes, please, you'd need to do that. I gave you some numbers. Right. So I did 11 times more revenue with the same landing page just by changing the lead magnet from a PDF download to an actual short five to six question quiz.

[00:31:01] Same same traffic. Didn't increase my ad spend. Same landing page. But the only thing that changed was the lead magnet. So make sure you guys put that in your utility belt and start changing over some of your landing pages and lead magnets to quizzes. Because I'm telling you right now, they are one of the top converting lead magnets out there. Now, I say this each and every week, family, because it is true. We get more and more downloads because of you, the BEB family.

[00:31:31] I appreciate you guys so much. Please continue to spread the word about the podcast. Also, the new website, go to blackentrepreneurblueprint.com. Get your free resources and the whole ecosystem, the books, the online courses, everything designed to help you elevate your entrepreneur IQ. Remember, it's not about me. It's not about you. It's about us. It's about building an economic power base in the worldwide black community by building and supporting black owned businesses.

[00:32:00] Love you guys. See you same time next week. Peace.