Back to PodcastThe BEST Way To Attract Highly Targeted (and Cheap) Leads That Buy In this episode, you’re going to discover how to quickly build your email list, generate cheap (but highly-qualified leads), and immediately convert those leads into paying customers and clients (even if you’re starting from scratch). Download as an MP3 by right clicking here and choosing “save as.” RSS feed for Marketing Your Business Q & A with Ryan Levesque Q: What is a quiz funnel? [00:47] A: What is a quiz funnel exactly? In a nutshell, a quiz funnel is this… When someone lands on your website, instead of asking them to opt-in, instead of asking them to buy your product, you begin by asking them a series of questions to understand a little bit more about their situation so you can direct them to the best offer, the best product, or the best marketing message for your one product or service if you only sell one thing. What it allows you to do is to customize your messaging, customize your copy, customize your creative based on a person’s situation, so you can ultimately better sell, increase your conversion rate, but also better serve that person. So, at a high sort of theoretical level, that’s what it is in a nutshell. Q: What’s the difference between a quiz funnel and a survey? [01:48] A: People hate taking surveys but they love taking quizzes and this is evidenced by all sorts of data. For example, if you just imagine the word survey, it evokes work, right? “Please take a moment to take this survey.” We’ve all gotten those emails before from all the companies that we do business with. And most of us, what do we do when we get an email like that? We just say, “No, thank you.” But if you’ve ever seen one of those quizzes, one of those assessments, they’re irresistible. If you think about Myers-Briggs, the Kolbe assessment, the Enneagram test, the DISC assessment, the StrengthsFinders test, the Sally Hogshead’s Fascination Profile… You know, I could go on and on and on. We tend to become obsessed with these types of tests. The reason for this is because there’s a universal concept that applies no matter what market you’re in. We call it the power of self-discovery. It doesn’t matter what you sell, if you teach people how to build a membership site, if you teach people how to play guitar, if you help people grow their business, the thing that people care more about than anything else is themselves. Me, myself, and I. And if you can offer the promise of teaching me something about myself, it’s irresistible. And so, the difference between a survey and a quiz, a survey is one where you’re actually giving information. You’re giving useful information for the benefit of the person asking you to take the survey. A quiz funnel, is different in that the benefit is that the person taking it is going to learn something about themselves and will get value from it, just by knowing the answers to your questions – just like when you take the StrengthsFinders assessment, or DISC or Myers-Brigg, etc. You learn something about yourself, which then is of benefit to you. And so, we’re using that principle, that concept of self-discovery, and we’re using it in a marketing context, to set us up to be able to sell our product or service on the back end of that quiz funnel. Q: Why would a business want to set up a quiz funnel? [04:40] A: There are five big reasons that a quiz funnel makes a lot of sense. So, the first one is incredibly cheap leads. You can cut your cost per lead anywhere from one-third to one-tenth of the cost – going from $1 per lead to $0.10 per lead One of our good friends, Mastin Kipp, has a business that helps people with personal development. He has a book and he was looking to generate leads and sales for his book and he was driving people straight into a traditional funnel. Well, he put a quiz funnel on the front of it. He asked people to answer a set of questions and based on those results, it gave a custom outcome, a custom video, and then he used that video to position his book. He was able to take his cost per lead from $6 per lead to under $0.76 per lead, simply by putting this in front of people. The second big reason is incredibly high volume. When you do one of these quiz funnels and you do it right, they become very shareable. People like to share these with their friends. So, the volume that’s available is incredibly high. Oftentimes, you can grow your audience by anywhere from 10 to 80 times simply by using a quiz funnel in your business. Q: We’re learning so much about all of these people who are taking these quizzes and that plays a huge part in all of this, right? [09:30] A: You hit the nail on the head. So, what’s amazing about this is it’s one of these rare cases where not only are you able to get more leads and get them at a cheaper price, but the data that you’re acquiring along the way is incredibly valuable. Q: After somebody collects this kind of data, how can they then use it? [15:24] A: It’s a great question and it’s a perfect segue into reason number four, why quiz funnels are so powerful, which is that they result in incredibly high conversion rates. And here’s why. With all the data that you’re gathering along the way, it allows you to do things like customize your copy, customize your case studies, customize the content that you’re putting in front of someone, now that you know a little bit about their situation. You can often double or even triple your sales conversion rate, which is effectively tripling your business simply by putting up a quiz funnel and then customizing your sales message ever so slightly based on a person’s answers. And I’ll give you an example of this in action… So, it’s a company called SnackNation. They are a subscription business. They sell a physical box of snacks that is sent to you or your office by mail. They use a quiz funnel to figure out what type of snacks are right for you. And they use that to curate the right snack package for you. Now, you can imagine for a moment that if you’re going to get a generic box of snacks in the mail, versus one that is curated to your preferences, to your tastes, to the certain types of foods that you avoid, gluten-free or dairy-free or things like that, what is going to convert better, the one that is generic or one that is tailored to a person’s situation? SnackNation went from $8 million a year in their business to $24 million a year in their business and landed on the Inc 500 list at the number 24 fastest-growing companies in America. They did it on the back of this quiz funnel, which took their business from successful to wildly successful. Q: Is there anything else that quiz funnels helps us do? [22:02] Here’s the coolest thing about quiz funnels. Not only does a quiz funnel will help you better sell, but it also helps you better serve. So, not only do you win as a business owner, but even more important than that is your customer wins. Because when you can put the right offer, the right piece of content, the right resource in front of someone, it allows you to serve them at the highest level. So, it’s one of these rare things in marketing and in business where you can go to bed at night and you can sleep well knowing that yes, you’re profiting from it, but at the end of the day, it’s also enabling you to serve your audience at the highest level. So, you not only better sell, but you better serve. Q: What are some of the different types of Quiz Funnels? [32:18] A: So, when it comes to the type of quiz funnel, there are three frameworks that you can really choose from. The first one is what we call a Type Quiz. A type quiz is one where you’re helping people identify what “type” they fall into. The psychology behind why this is so powerful, has to do with something called categorical perception in human psychology. And basically, what that means is we as human beings naturally have a desire to put things into different buckets. For instance, we know that humans are so complex that it would be impossible to put people into different buckets, but we still want to do it. You’re a friend, you’re a family member, you’re a co-worker. We naturally organize the world in this way. The second quiz framework is what we call a killer framework. The killer framework is where you’re helping people point out a mistake that they’re making in their life. The reason why this is so powerful has to do with the psychology of loss aversion. This means the fear of loss in people’s minds is infinitely more powerful than the promise of gain. The third one is a score-based quiz. The reason why a score-based quiz is so powerful is because of comparative psychology. We have this natural need to compare ourselves against both our peers and to compare ourselves against where we should be relative to where we are right now. Q: I know that you have a free workshop that’s coming up that’s going to walk people through this in more detail. People can go join that by going to GetYourQuizFunnel.com. What are you going to be sharing during this free training? [48:30] A: I’m going to be going through dozens of different live examples in all sorts of different markets to both get your creative juices flowing, and also kind of paint a picture for what this looks like on your website. You’re going to get access to my quiz funnel template. So, think, a template for every type of business under the sun. So, an e-commerce quiz funnel template, a membership quiz funnel template, and so on and so forth. You’re going to get access to my 101 profitable quiz ideas. So, if you’re looking for some ideas for what your quiz might be like you’re going to get access to that resource. I’ve got a quiz funnel blueprint that’s going to walk you through all the steps required to implement this step-by-step. I’m even going to be building an actual real-life quiz funnel in real-time, and we’re going to do this together. We’re going to cover all the nuances, all the questions, dozens of examples, and it’s a one-time-only thing that’s happening live. So, you absolutely want to make sure that you get there to be part of it. And for anyone who’s interested in potentially building a quiz funnel in your business, I’m super excited to have you part of this quiz funnel workshop, which is totally 100% free. Closing Remarks I want to encourage everybody to go to GetYourQuizFunnel.com. Come join Ryan. I’ll be there attending. I’ll be in the comments so you can come see me. I’ll be bouncing my ideas off everybody while we’re there. So, GetYourQuizFunnel.com. Ryan, thank you so much, buddy. I really appreciate you. Memorable Quote “Not only does a quiz funnel help you better sell, but it also helps you better serve.” – Ryan Levesque Resources RyanLevesque.net Choose: The Single Most Important Decision Before Starting Your Business GetYourQuizFunnel.com Rate & Review the Podcast Reviews for the podcast on iTunes and greatly appreciated! They help us build awareness for the show, which in turn allows us to bring value to more listeners like you. Not only that, but they help us better understand what matters the most to you so that we can constantly improve. If you received value from this episode, it would mean the world if you could take a moment and leave your honest rating and review. You can do that by clicking here.