Reducing the cost of acquiring new leads is the goal of every marketer and business owner.
One of the most rewarding ways to do so is to use a quiz on your website and social media platforms. Quizzes are a popular form of interactive content that score high in terms of SEO and low-cost lead acquisition.
This post will discuss how you can use simple quizzes to reduce your cost per lead (CPL).
Yes, it’s totally possible. Check out this case study of how Krister Ungerböck reduced his CPL to 25% of their industry’s average.
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What is your cost per lead?
One of the most critical metrics marketers and advertisers must keep an eye on is the cost per lead or CPL.
CPL can be defined as the amount you spend to acquire a lead. Your CPL will vary from campaign to campaign and platform to platform.
For example, if you spend $700 on Facebook ads and generate 100 leads from your campaign, your CPL for that campaign will be 700$/100 = $7.
Let’s briefly look at a few factors that impact your CPL:
#1 Organic lead generation
Organic lead generation refers to using free channels to generate leads for your business. Examples include content on search engines or social media posts. Because these leads come organically, your CPL is $0.
#2 Paid lead generation
Paid lead generation involves using paid means to generate leads and includes
- Paid ads on search engines
- Social media
This is where CPL comes into play as you’re spending to generate leads. And you must try as much as possible to keep your spending low.
#3 Lead generation tools
Whether you’re using organic or paid platforms to generate leads, you’ll need to use some lead generation tools to increase your efficiency. Examples include:
- Landing page builder
- Quiz software
- Prospecting and outreach tools
- Funnel builder
- Email Service Provider (ESP)
- Customer Relationship Manager (CRM)
Using a combination of some of the above lead generation tools, you can build a quiz marketing funnel that will bring you leads at a fraction of the cost of other lead generation strategies.
The benefits of lead generation through quiz marketing
Gone are the days when generating leads was a simple matter of putting up a landing page and watch as prospects flock for your offer.
With the competition for the same customers becoming stiffer by the day, generating leads is becoming harder. It’s also becoming more expensive.
That’s why savvy marketers are turning to quizzes like this one from DoFasting to boost their lead generation efforts.
What are the benefits of integrating quizzes in your marketing strategy?
#1 Quizzes are an excellent type of interactive content
One of the benefits of using quizzes in your marketing campaigns is their ability to attract and engage prospects. With a quiz builder, you can easily create interactive quizzes to engage more customers and boost conversions
That’s because quizzes are a form of interactive content. If your content management system is WordPress, then, you can use the WordPress quiz plugin for creating engaging quizzes and questionaries.
And if you’re wondering, interactive content is more popular and converts better than static content.
Not only are quizzes interactive, but they also have the advantage of taking personalization to a whole new level. You can tailor your quiz to speak directly to your customers’ aspirations, pain points, and personalities. And you can give them professional feedback, pointing them to the right product or service, which, obviously, you offer.
This product quiz from Eachnight is a perfect example of suggesting the best product option to your customers based on their preferences.
#2 Quizzes help boost SEO
Search engine optimization (SEO) plays a significant role in organic lead generation.
And that’s precisely why you must use quizzes in your marketing campaigns. Quizzes are a great way of boosting your SEO because:
- They encourage engagement. The more people interact with your content, the more search engines deem it valuable.
- Search engines love content designed in a question-and-answer format (like FAQs).
Remember, if your prospects find your brand via search engines, your cost per lead comes down to $0.
#3 Quizzes help with lead qualification
Quizzes are an excellent way to qualify your leads.
The reason for that is simple — only people interested in your product/service are likely to take your quiz. A well-designed quiz will attract, engage, and qualify your leads. As a result, you’ll enjoy higher conversion rates. Generating qualified leads right off the bat is a great way to lower your CPL.
How to set up the perfect quiz for your business
To get a high response rate, you’ll need to create an enticing quiz that triggers respondents to complete all answers.
You need to design a quiz that commands high response rates.
Here are a few tips to help you set up a quiz that will encourage participation and help you reduce your CPL:
Tip #1: Optimize your intro screen for engagement
The intro screen is the first thing your prospects see when they come across your quiz. Make sure to optimize it for engagement:
- Craft a catchy title
- Explain the objective of the questionnaire.
- Highlighting the benefit of taking the quiz.
- Use relevant, eye-catching visuals and color palettes.
The key to a successful quiz campaign is to get people to take your quiz. And your intro page must be designed to do just that.
Tip #2: Ask personal (psychographic and demographic) questions
Another hallmark of effective quizzes is that they ask the right questions. To do that, you must know your audience.
Create a buyer persona by conducting in-depth audience research.
This will help you craft highly personalized questions. Your audience research must include:
- Demographic data. This is data on your target audience’s physical attributes such as age, location, gender, occupation, etc.
- Psychographic data. This is data on your prospect’s intangible attributes. Examples include aspirations, values, interests, attitudes, and personality traits.
Building your quiz around your audience’s psychographic and demographic data is one of the best ways to ensure high engagement and participation rates.
Tip #3: Use the quiz as an email list building tool
You can create your quiz to ask for the respondent’s email address at the beginning, middle, or end of the quiz. Placing your email address field at the top only works if your quiz is compelling enough to make prospects sign up for it. The other options (middle and end) convert better as you would already have built up anticipation for the quiz results.
Another option when using your quiz as a lead generation tool is to decide whether you want to make the email address field compulsory or not. The deciding factor here is whether you want to use your quiz for quantitative or qualitative purposes.
Bottom line — if your respondents give you their email addresses, they are highly qualified leads. You can send them an onboarding email to welcome them to your company and design a follow-up strategy to nurture them. A tool like Survey Anyplace allows you to auto-segment your leads according to how they answered the questions. This makes it easy for you to send personalized follow-up emails.
Tip #4: Give personal feedback
Once your participants are done taking the quiz, don’t just give them a score. Instead, use the last screen of the quiz to provide additional feedback and recommendations. Giving this personalized feedback will endear you to your audience as they’ll see that you truly have their best interests at heart.
Besides giving feedback on the last screen, you can design a personalized PDF report they can download. This is your chance to prove your value, expertise, and professionalism. You can also encourage those who didn’t submit their details earlier, to do so now.
This is especially applicable to agencies in a consulting, coaching or educational setting.
Tip #5: Design for a mobile experience
Mobile is fast overtaking desktop as far as the source of internet traffic is concerned. That’s why, when setting the perfect quiz for your business, you must design it for mobile. In the above-mentioned case study, 95% of the respondents took the quiz on their mobile devices. Designing your quiz for a mobile experience is key to increasing your conversion rates and decreasing your CPL.
Quiz types you can use to reduce your cost per lead
Depending on the type of business you run, you can use different types of quizzes to generate leads without breaking the bank. Here are some of the most common quiz types you can leverage:
Personality quizzes are some of the most popular quizzes across industries as they help participants take an introspective look at themselves.
You can build personality quizzes around many traits, such as product personality quizzes and many more. They can also be used in a corporate setting to understand employees’ personality traits better.
Another effective quiz type you can use to generate leads for your business is a maturity assessment quiz. This is a quiz designed to help your clients gauge where they are in their business in relation to other players in the industry.
The results of a maturity assessment quiz help respondents see where they’re falling behind, uncovering their pain points. It gives you the opportunity to help them improve the areas where they score badly. This is an ideal situation to offer a professional feedback report at the end of the assessment.
Product quizzes are a great way of leading consumers to the right product or service. You can ask questions that will automatically guide the respondent to the product they are looking for.
Take the example of this “bra quiz”. It’s not always easy to know what type of bra will fit your specific body type. A quiz can help women discover the ideal shape of bra, without needing to try them on.
The fact that they take your quiz, makes them highly qualified leads. They wouldn’t take the time to take the quiz if they weren’t interested in seeing the result. As a seller, you can add links to the right products in the last screen of your quiz. Make it as easy as possible for your lead. Before you know it, they will convert and buy your product.
This is especially useful in an eCommerce setting.
If you’re looking for a way to reduce your CPL and increase your revenue, quizzes are the way to do it. Besides being versatile, personalized, and engaging, they’re also a low-cost way of generating leads at every stage of your sales funnel.
A useful surplus: You can collect the results of your quiz and create a blog article or White Paper with the findings, sharing your informed insights. People will refer to your data, since mentioning numbers and stats is essential to write high-quality content.
So go ahead and get started with your quiz marketing. You and your audience will be hooked.