Lead Magnet Marketing Test: The Subtle Difference That Drives Big Results

Do words matter? Have you ever wondered if the words you say or choose really make a difference in your marketing?

What if I told you that a simple change in words could cause a drastic difference in how much you pay to acquire leads and turn them into customers?

We conducted an experiment to test this out, and we’re here to share the results!

Today in 7 minutes or less:

📌 Lead Magnet Marketing Experiment

📌 Our Thoughts and Findings

Lead Magnet Marketing Experiment

This experiment all started after a conversation with a friend. We noticed that a lot of gurus and experts suggest businesses should start by creating an email list, with a lead magnet often being the go-to option. This is because many claim they can generate qualified leads for as little as $2 to $10 per lead.

To know just how effective this suggestion was, I decided to take matters into my own hands! Here’s what I set out to find:

• How little can I spend on acquiring leads using a lead magnet funnel?

• How qualified are these leads (and how closely are they related to my target market)?

• Can I convert these leads into customers?

What I did next…

1. I created multiple ads (video reels & image based ads)

2. I created a landing page (www.perfectgrowthsystem.com)

3. I spent some money!

Phase 1: Lead Generation with Reels

When I first started, my objective was to generate leads using video reels and a lead magnet. Given how the landscape was evolving, with so much marketing driven by videos, I figured I should be using video reels as the starting point for my ads instead of just relying on standard image-based ads. So, after creating the landing page for my lead magnet and producing the video reels, I launched the ads!

After spending close to $130 in ad spend over 3 days… the results weren’t that great.

My expectation was to generate leads at a cost below $10 per lead, but my actual cost of acquisition was much higher, averaging around $35 per lead… 😱😱😱

This was a failed test, and I wasn’t about to keep pouring money down the drain, acquiring leads at such a high cost without knowing if they would even convert!

So, I went back to the drawing board and did more research on famous digital marketing brands and entrepreneurs like Frank Kern, Russell Brunson, and others.

This led me to a realization… Almost 90% of them had a lead magnet funnel, and most of them were running image-based ads!

Seeing that these experts were spending multiple six and seven figures—or more—on ads each month, I decided to follow their tactics.

Phase 2: Lead Generation with Image Based Ads

After the initial failure, I decided to go old school and switch back to image-based ads. These were the variations of ads that I used!

With the ads created, I launched my campaigned once again and these were my results over the first 3 days, 7 days and lifetime of running these ads

As we continued running the campaign, we stabilized our results, achieving a cost per lead between $8 and $12. This was within the range I anticipated needing to invest to acquire a lead magnet lead in the business opportunity and marketing consultancy space for business owners.

So which ads perform the best?

This was the winning ad! This wasn’t the original text I came up with; it was only after much research that I found these words. If you compare the black and white creatives from above, you’ll realize that apart from the colors and the headline text on the image, nothing else was different!

But the ad that gave no results was the black creative with the headline “Scale Your Business Predictably & Profitably,” while the ones that produced results were both the white and black creatives with the headline “Acquire Customers, Not Just Leads.”

Such subtle differences led to paying $8 per lead versus spending money and not generating any leads at all!

Phase 3: Converting Leads to Sales

But it doesn’t stop there… because we don’t just want leads, right?

So, while we were generating leads at a cost (or investment), the real question was how to turn them into customers. The answer? By having a process!

As I was acquiring leads, I made sure that every lead had at least 10 touch points within the first 3 days:

• 1 email a day

• 1 SMS a day

• 2 calls within the first hour of opting in and 1 call each for the next 2 days

My goal was to have a conversation with them and understand the pain points in their business.

After performing these activities, I managed to converse with 6 of the 51 leads, with 2 booking a follow-up appointment with me!

I am currently still following up with 2 of these opportunities, and 1 has a pending contract to get started on building their Perfect Growth System. The pending contract would bring a positive ROI of at least 300%

Thoughts, Findings, Conclusion

Is it worth it to run a lead magnet funnel? Yes, if you have a proper process in place to convert your leads.

Things to note

• Small changes in the ads make a big difference

• You spend more money on ads that do not perform at the start

• Research on what is working in the market based on what you are advertising

• Leads are just leads - Be ready to do the work if you want to convert them into customers

I hope you took something for it and if you are interested to have a discussion on how to implement this in your business, book a call with me at https://www.mosesthien.com

P.S. We are currently doing a mini course paid lead magnet experiment! Stay tuned for results and join our community to find out more!