Just like you track and measure all your goals (since you set SMART goals), this part will be easy to find out. As a reminder, a SMART goal is a goal that is specific, measurable, attainable, realistic and time-bound.
For example, if you create a lead magnet to spread brand awareness while building your list, it’s going to have a very different metric to watch than if you set up a lead magnet to sell and promote a specific product tor service.
If you want to be sure your lead magnet is working as planned, you’ll need to set up analytics for the following:
Click-Throughs to the Lead Magnet Landing Page
When you promote the lead magnet, are you getting enough traffic to the offer? If not, perhaps you’re using poorly targeted headlines? Perhaps something is wrong with the offer itself? More than likely, you’re just not using the right targeting parameters to get the right audience to look at it.
Number of New Email Subscribers Due to the Lead Magnet
If you are getting a lot of traffic, are you getting a lot of subscribers too? If you’re getting lots of traffic but few downloads and subscribers, double check your landing page to ensure it speaks to the issues the freebie will solve based on what the targeted audience wants and needs.
The Number of New Subscribers Converting
How many new subscribers are becoming buyers? If you get lots of sign-ups but no one is converting after they’ve received all of your autoresponder campaigns, there has to be something wrong with the targeting of the freebie. Go back to square one and come up with a new freebie idea that is more focused on the target audience that needs your solutions.
Feedback Received about the Lead Magnet
When people receive the lead magnet, what are they saying about it? Set up your autoresponder to ask them once they’ve had enough time to consume it. The feedback can help you make it better. If you’re not getting any feedback, and the traffic is low and conversions are low, start over. The most important aspect of using freebies to build your list is to laser target the lead magnet toward only the ideal audience you want to sell a specific solution to. Don’t try to make your lead magnets too attractive to too many people. It can help to create client avatars and collect other information that helps you better target your ideal customer with your information.