29 Oct Survey Case Study: How to Use a Lead Generation Survey for E-commerce Customer Acquisition
This week, we further explore just how powerful surveys can be for lead generation.
Over the last couple of episodes, I’ve been systematically debunking people’s most common objections about surveys. We went through an entire mountain of examples and “what if” situations.
For this episode, I want to share a survey case study; a real-life practical situation from one of my most recent projects with a client who owns an e-commerce business.
I’m helping them generate new leads using surveys, and I want to give you a high-level overview of my process from start to finish.
With each step, I will highlight some of the crucial questions that need to be answered and share cool secrets of the trade.
In this episode, you’ll learn how to structure surveys, predict your budget using my bulletproof formula, and set up a customer acquisition strategy that works!
I’ve built my affiliate marketing business using this exact model.
Remember – it always comes down to figuring out the math and how to make it work in your favor.
How I Help My Clients Generate Leads with Surveys
I’m going to breakdown my process into steps and take some time to address every single point.
The First Step
Whenever I work with a client, I always start things off by asking this simple question. Are we selling multiple products or just one?
It’s an important thing to figure out right away because it will determine your segmentation strategy.
Are you matching different products with different audience segments? Or are you just creating a perception that you’re doing that by tailoring your messaging to each segment?
You have to understand the purpose of your survey before you can create it.
In this scenario, my client owns an e-commerce business that offers three different products: probiotics, weight loss, and hair products.
At times, external factors come into play and help you make a decision.
For instance, some of these products contain CBD oil, which is approved only in certain states. This helps narrow down our options right off the bat.
The most important thing is to ask your client to provide you with ANY relevant information about their audience.
So here, my client came back with sales data that clearly showed probiotics were their best-sellers by far, so we decided to work with that particular product exclusively.
What’s the Goal on the Back End?
Another critical bit of information for me to know is what are we trying to achieve on the back end?
Knowing the goal of the survey helps me get specific and creative about achieving it during the build-up.
There are always lots of different things you can offer on the back end. It can be something free, like access to a Facebook Community or some kind of a lead magnet.
For this particular client, if they tried to sell their product of the back end, then offering a coupon or some other discount would be an excellent way to go.
“Data is going to tell you whether it’s working or not.” – Eric Beer
Segmenting Your Audience
Now that we know what we’re selling, we can create segments based on people’s objections and needs.
Some people will need probiotics because they feel bloated, other’s might use it to get rid of constipation. The key thing here is to segment people into sections and group them based on the issues they need help with.
This will allow us to create custom messages tailored to the needs and objections of each section. These types of messages are always more likely to resonate with your audience and increase conversions.
Coming Up With a Survey Hook
The survey’s hook contains the big promise about your survey. You need to explain why they need to take it and highlight what they’ll get from it.
For our case study, we can go with something along the lines of:
“Learn What Type of Probiotic Is Right for Your Stomach Issues”
How to Create a Customer Acquisition Strategy
Creating a customer acquisition strategy is what allows performance marketers to be so effective.
It’s about gathering all of the relevant numbers and creating a system that works in your favor.
You need to create a system by which for every dollar you put in, you earn back more.
“Any advertiser would welcome paying $100… If they’re going to make $240.” – Eric Beer
One of the most important metrics you need to know is the lifetime value of your customer. It’s what allows you to plan out your budget.
Using the lifetime value of your customer, you can now determine your customer acquisition allowable. In other words, you can now define how much money you can spend on acquiring each new customer.
Each system consists of your allowables and predicted conversion rates. That way, you’ll know right away if a deal is good for you and your client or not.
Check out the full episode to learn more about how I use valuable metrics to create a killer customer acquisition strategy!
Thanks for tuning in for another episode of the Performance Marketer Podcast!
See you next week!
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Think about it, they'll take as many leads as possible, as long as the conversion rate stays the same, and the cost per lead stays the same, right? Obviously, we try to lower the cost, and it would be that much better of a business. But at the end of the day, any advertiser would welcome paying $100 all day and night, if they're gonna make $240 bucks.
I spent the last 17 years building my eight-figure performance business without using any of my own money, working with some of the most brilliant direct response marketers in the world today. Now, I'm looking for entrepreneurs to join my affiliate army, built on ethics, transparency, and good old hard work. Join me to change the perception of how people view the greatest business in the world, affiliate marketing, and follow along, as I learn, apply, and share performance marketing strategies, working with some of the brightest people on the planet. My name is Eric Beer, and welcome to the Performance Marketer Podcast.
Hey, what's up Performance Marketers? Welcome back. Today, I want to talk to you guys and show you a real example of applying surveys to your lead gen strategy with a client. I was speaking to somebody earlier today, and they have an e-commerce business. And what that means is that they sell products, they ship something from the warehouse to a client, to a customer. Alright, so customer goes on, they buy something, and then it gets shipped out to the customer. It's an online business. And we're talking about generating leads and creating a lead flow process for their marketing strategy. And we're implementing surveys to do so. So just want to take you through like a high level of a quick, what do I do with them? How do I go about doing this to decide on what the direction of these surveys can look like? And you guys can kind of put some pieces together. But ultimately, the first thing I want to do is I want to look at who's the customer and I also want to look at how many products do they have? Is it multiple products, or is it just one core product? So in this instance, there were multiple products, and they have probiotics, and they have a weight loss, and they have a hair product. And they're targeting females anywhere from like 25 to 50. And you can go into more detail about that. But for the sake of this example, we're going to skip it. But so the point is when we looked at the multiple products that they had, one of the ways that we would have to decide on how we're going to segment is if we're going to be promoting multiple products, or just that one core product. So what I like to call in the segments is either we're going to be matching multiple products to different segments, or we're going to take all of our segments, and then we're going to then funnel them all through to create a perception that the core offer is the solution for their needs. So it's either matching or perception. So in this instance, weight loss probiotic, and the hemp, CBD, CBD is only approved in certain states. So that limits us right on when you're buying. So we're out there and we're generating leads, there's going to be some qualifications. But uh, we made a decision that we were going to focus on one of the products. So the idea is that the client is going to go back and look and get some more information on who their customer is like, how are they buying? What are they buying as much information as they can get? So they can come back and say, okay, like, we're gonna go and do the probiotic. That's the most popular. This is the highest purchase product bah, bah, bah, bah, bah. Right? So they're gonna go and get some information. But for me, it's more. Okay, well, what's the goal on the back end, and there were a few things that we talked about. One is they have a community of Facebook community. So we could be driving somebody to a survey taking them through the flow, and at the end, giving them the ability to join this private Facebook group, so that they can join the community. And then the advertiser will have the person's email address to communicate with them that way, in addition to getting them into the Facebook group, but if they wanted to try to sell something, or in the back end, then the things that they can do is on the back end, is like giving a coupon for purchase, or a “buy one, get one free”, having samples of the product that they can test, or free shipping. So those are a few of the options that we have, that we can see which one converts better and right you go out. You never really know what's going to convert. And that's why your test data is going to tell you whether it's working or not. But so once we figure out the product, we figure out the segment, we figure out the survey goal, we're in a pretty good position. Now to know what We're going to do next right? So we come up with our survey hook, in this instance, probiotics, what probiotic fits your stomach issues, something along those lines, right. And then you create your segments on all the people, which is like people that feel bloated or have guests, maybe the constipated or the runs, right? So you segment them by those different issues. And then based on where they fall is where you're going to now focus on that area on the outcome page. But so once we do that, we set up our questions, we get the lead opt-in, we have our outcome, we're all set. We know we're going to drive traffic, what happens now is, it's the acquisition strategy. Right? So the questions I have for anybody that's going to be doing this for this client, is alright, well, now what's the lifetime value of your customer? The reason we want to know what the lifetime value of the customer is, is because we want to know what the customer acquisition allowable that you have, right? What's your budget. So in this instance, it's like, to give you an example, if there's the lifetime value of a customer is $240, then let's say that you're going to use $100 as your allowable, the amount of money you can spend to acquire a customer. Okay? So for us, knowing that we can now look at the survey to figure out what we can afford on a lead basis. Right. So we don't know what we can click or afford, right. So it's gonna come down to a bunch of different factors. And it comes down to this, right, if you're allowed was 100 bucks. And now you're going to go out and start buying traffic clicks. If you're paying on a CPC, it's how many people click, go through the process, and then sign up as a lead opt-in and get to your outcome page, that would be a lead. Now from that point on, you'd want to say, "I have X amount of leads that I get how many people convert into a customer, so let's call it for easy numbers." Let's say you generate 1000. leads. Okay? So on 1000 leads, let's say that you now spent $5,000, okay? On the test, so you generate 1000 leads with the $5000 bucks you spend. So at that point, you just divide 1000 by 5000. Right? And you get a $5 cost per lead. But you don't know if it worked or not. You don't know if you can afford $5 or not. Right? So what we have to look at the clients look at as well as, what's the conversion rate gonna be? So on those thousand if you spent five grand, and now you got 1000 signups, can you back it up? And you just said you have an allowable of $100. So how many sales do you need? So you take the $5,000 of media spend, and you divide it by 100? So in that case, what is that? 50? That's 50 sales. Okay, so you would need to get 50 sales off of those 1000 leads. And that's the metric that you're going to go out and test and see. Right? And, you know, is it? Is it possible that you can get that? What is that a 5% conversion rate? Right? It's not crazy. It's not crazy. And if that's the case, and we're able to do that, think about it - they'll take as many leads as possible, as long as the conversion rates stay the same. And the cost per lead stays the same. RightObviously, we try to lower the cost. And it would be that much better of a business. But at the end of the day, any advertiser would welcome paying $100, all day and night, if they're going to make 240 bucks. So I just wanted to show you guys this, right? This is how you apply a survey to your lead generation marketing plan when you have a business. Right? So this is for any e-commerce type of business. You could do it if you're in the services of your dentist or a chiropractor. Right? If you're a coach if you're trying to get people to get onto a webinar, or you're trying to sell somebody high ticket or a mastermind. So, in any event, I just wanted to show you guys that I hope it was helpful. And if you have any questions, you can always reach out. Otherwise, I will talk to you soon. All right, good. Bye.
Would you like to learn how I built my business using other people's money? If so, then go join my 21-day challenge at performancemarketersecrets.com. I look forward to meeting you and welcome you into my family. And remember, results don't lie, but the people who don't have any tier. Thanks for listening.