Did I Just Increase Sales With One Single Change?

Hey. It's Matt. Welcome to Money Lab. I just did some math, and I wanted to share it because it's striking. So I had mentioned on the podcast before that I needed to find so we're we're we're back to the subject of the lead the the battle of 2 lead magnets.

The first lead magnet, the one has worked the best for me, has been the pool care cheat sheet, a downloadable cheat sheet. People subscribe. You know, the conversion rate is relatively high depending on certain articles. But, overall, I'd say it's around a 3 to 5% conversion rate from traffic to email subscribers. It depends on the time of year.

It also depends on the article, so that's the rough estimate. Now there are some articles where the conversion rate is upwards of, like, 10 to 15% and other articles where it's down as low as 0% or even maybe 1%, because whatever article they're reading does not match what the cheat sheet is offering. So it just it's a slight disconnect. So what I've gone and done today, and it is now live, and I talked about this on the last episode, is I've gone and created a custom you can now choose per article which offer you want to show. Okay?

So if you choose the cheat sheet, it will show the cheat sheet. If you there's a drop down. If you wanna show the pool care plan, it will then show the pool care plan. Okay? I also included a custom headline for that offer.

So now I can change the headline for the offer, depending on which one I choose, per article. So, for example, if someone lands on an article about pool algae, we're getting rid of pool algae and, you know, getting rid of pool algae. And they convert it, like, I'd say, maybe 4%. But if you change the headline to read instead of it saying the the generic, like, save time and money on pool care with a free cheat sheet, it'll say I could change it to whatever I want. So I could say, you know, stop worrying about algae with a free pulled cheat sheet.

So then now all of a sudden the algae article connects more with the cheat sheet, And I believe that will increase conversions because I've done an AB test, and it does increase conversions. But I could also flip it from the algae one for the cheat sheet. I could switch it to the pool care plan, and perhaps it could go even higher, and I could also change the headline for the plan to include algae terms. So I think that is another dial turn to crank up the conversions even higher. Now I'm gonna keep this episode short because I have a meeting in 20 minutes, and I'm freezing my balls off down here.

I'm gonna turn on my heater. Okay. So I'm so fucking cold. It's not even funny. The basement gets ice cold.

Ice cold. Okay. My worry, though this was my worry. I have had a consistent conversion rate for the last, I wanna say, 3 years, where the people who subscribe get the cheat sheet or they subscribe, I should say. They want the cheat sheet.

They click the button. They enter their name and email address, and then the next page they're taken to is a 50% off offer for the course. Okay? And then the cheat sheet is delivered in their inbox. That has converted safely 3% for years.

Okay? My worry was what happens when I switch the lead magnet from the cheat sheet to the pool care plan? There's added steps in the process. So instead of so for the cheat sheet, like I just said, they click a button, a pop up comes up, they enter their name and email, they click get my cheat sheet, and it immediately takes them to this offer page. Okay?

They may not pull the trigger right then and there, but they get an email. And in the email, there's a button to download the cheat sheet. It also says, hey. You're you have 24 hours to take advantage of this offer. And then it sends a follow-up email 4 hours before the offer ends, reminding them that that offer is about to expire.

Okay? That, again, that series, that funnel has converted at about 3%, which is actually pretty good. Alright? So that means for every 100 subscribers that come through, 3 of them become customers. I could do the math and just go, okay.

How many subscribers will it will it take, you know, to to to run through this? And that will be my number. Now the source of the subscriber, I do think plays a part. I don't have this information, although I could pull it up, and I might I may actually do that. In fact, let me write this down real quick.

Facebook versus organic question mark. Okay. My worry was, what happens when I switch to the pool care plan as a different lead magnet? Okay? I already know that the pool care plan gets me more subscribers.

It has a higher conversion rate than the cheat sheet. I know that from AB testing using Crazy Egg on a handful of pages. So I'm like, okay. I've what I didn't know is how many of the people who sign up for the plan will convert to, you know, customers? Is it 3%?

Is it more? Is it less? I don't know the answer to that. I was worried about that. So here's what I've done.

The the pool care plan exists only on 2 pages right now. The home page of our website and a split test on our main article about pool care. Okay? So it appears on probably the 2 best places on our website. And this is not a true test, but it is significant.

And now that I'm thinking about it, it's really not a true test because of the source. Anyway, I'll share the data regardless. So for the pool care plan, the funnel is this. It's it's slightly different. They land on a page.

They click a button to get their free pool care plan. It takes them to a type form, which is well designed and looks like our website. It asked them 3 questions, 3 multiple choice questions that they do not they can skip if they want to. And then it asks them for their email address, and that's it. After that, there's a button that says, thank you for your submission.

We're working on your plan right now. We'll email it to you. And then there's a button I think that says complete or, like, you know, it's like it says next or something like that. If they click that button, they are then taken to the OTO, the one time offer, the 50% off offer, and they could buy. Right?

My worry was, how many people what would be the conversion rate? Is it still 3%, or is it lower or is it higher? So I ran the numbers, and I just took the last 7 days. So the cheat sheet currently, in the last 7 days on the website, I've gotten 2,716 email subscribers from the cheat sheet offer across the entire website, because that's the besides the homepage. Of those 2,700, 27100 people, 83 of them converted into sales, and I made $4,471.

Okay? That is a 3% conversion rate almost on the on the money. Again, that's what it's always been. Contrast that to the plan, the pool care plan opt in, which again appears on only 2 pages, the home page, which I would argue is, you know, pretty generic page, and our our most popular article. And I think this is where the numbers get skewed, but let's read them out anyway.

In the last 7 days, I had a 141 subscribers. Of those 141 subscribers, 17 of them bought for a total of $833. That's a 12% conversion rate. That is 4 x what I'm currently getting. Now, that is that is striking.

That is striking. I there is one variable that is a bit skewed, and that would be the fact that some of those people are subscribing on our most popular article that also happens to get the most sales. So I do not think it's a 4 x multiplier. I just but I could probably safely say that I could double conversions. Not only that, I'm increasing the conversions of subscribers because the pool care plan is a better lead magnet.

Steph had made the assumption that because people are sort of pot committed, they want this custom pool care plan more than the cheat sheet. And because they're willing to jump through a few more hoops than the cheat sheet, because the cheat sheet only asked them to do 2 things. Give you give us your name and give us your email address. Okay? Anybody can do that.

Pretty easy. What the plan does is it makes you answer 3 questions and then an email, and you're looking for a very specific thing. You're looking for a plan, not a cheat sheet. So it's it's a little psychologically, it's a little different. And so her hypothesis was that more people would buy the course because they're a little more pot committed.

And when I say pot committed, that's a poker term, by the way. It's like it's kinda like some cost. Right? You're already you're already in. You might as well see the you might as well see the the the with the river, I think, is the last card or whatever.

So or the flop. I don't remember. The river, the turn, the flop. Is that the I don't remember. Anyway but, no, don't play a lot of poker if if at all.

So, yeah, I think so that is that is hopeful. Now I have gone ahead and set up this pool care plan thingy across the site, and I can, in one fell swoop, completely switch every single article and home page, which is already there, to the pool care plan. I can do it with custom headlines as well, but I don't have to do it with custom headlines because there's the there's a default for everyone. Assuming let's say I do that today. Today is Thursday.

It is before it is the 20 6th April. I have a few more days, in fact, 4 more days until May. What I could do and probably will do is turn every single cheat sheet offer into the pool care plan across the entire website. And then I will just keep a close eye on numbers. And I will run I will run those numbers.

I wanna know a few things. Did the site in the last 4 days get more you know, traffic withstanding. You know, we have to compare it to traffic. We have to. So did my conversion rate go up to from from from traffic, regardless of where it comes from, to and I'll probably just do organic.

Yeah. Because that makes sense. Did my organic traffic to email subscriber conversion rate go up? That's all I need to know is the conversion rate number because I can't just do do we get more sign ups? Because we we definitely have more traffic each week leading in the season.

So it was just incrementally getting more and more traffic as more and more people are searching for, you know, pool stuff now that we're entering season. So just the conversion rate number. And then the other number is sales conversions. I don't really give a shit if they're buying the 50% off offer or not. But with Klaviyo, it tracks everything.

So even if they so if they buy a course and they get an upsell, then that's the value that's gonna go in there. But I actually, I I don't know if it counts in terms of it's I don't think it counts in terms of placed orders, although it could. And it doesn't matter because that would be the same for the cheat sheet as well. So what I could do, unfortunately, I won't be able to compare it, the the the the number to what would have been the cheat sheet, but I can safely say that I know that my number is 3%. That's the cheat sheet conversion rate from cheat sheet, lead magnet to sales, specifically on the OTO, the one time offer.

3%. My benchmark is 3%. If in the next 4 days, that conversion rate is higher, then then I just keep the cheat sheet or I sorry. I keep the pool custom pool care plan going. And I've basically officially switched over to my new lead magnet because I it just makes us more money.

Once I find out that, then starting May 1st, I will begin to run ads. And I'll probably just run ads to our home page because the home page has the best offer, and it also has many other things you can do. So I kinda feel like that's the best move or directly to the Typeform, which would probably work even better. So that's the update. I have high hopes.

Today, I'm gonna kinda scares me a little bit because we're, like, in we're we're we're not in season yet. It's still April, and April is not season. May is when it starts, and, really, May 15th is, like, okay. May 15th, like, we're going. And if I can find out if this is gonna work better for us, This could be a really good May, and I'm excited because it seems to be trending that way.

So fingers crossed. Let me know if you have any questions. Shoot me an email, money matt@money@matblah blah. Matt@moneylab.co. Bye.