The quick answer to finding out if your ethical bribe, the freebie you offer new subscribers is really working is to look at your sign up statistics, then decide.
I was blithely making more and more “ethical bribes” to encourage people to sign up for my newsletter in one of my niche areas.
It seemed to be tough to figure out what would motivate folks to “join my list” so I could market other products and services to them, keep them up to date with what was going on on the site. Frustration was the name of the game.
Then, I finally got an a-ha.
I was logged into my email marketing service provider, trying to figure out what page was the download page for one of my sign up boxes.
I was startled to see that right there, in the list of sign up boxes, was the number of times a sign up box was seen and how many people signed up.
What was that old saw? Could’a had a V8?
One of my ethical bribes, an ebook that I made last year, had a conversion rate almost twice as high as the next best offer: like it was converting at 18.4%.
Not too shabby as the kids would say.
Then I looked closer. (I do have a masters degree in Statistics, I just don’t often use it. And, this is really not even close to advanced statistics.)
There is one sign up box that had tons of “displays.” It was on a page that lots of people had visited. But only a 3% conversion. Nothing close to the ebook with its 18.4%. I was thinking it was a waste.
But, then I took a closer look and realized this form was on every page of my website, sometimes twice on the same page, it has been up about six months and it has already gotten almost 50 new sign ups, with no additional effort on my part.
So, it was a low percentage, but the highest number of new subscribers.
About that 18.4% sign up box? Well, although was the box was only displayed 98 times, there were really only 75 different people that visited the page (some folks must have been there twice or maybe it was me editing the page) which means the ratio of subscribers divided by unique visitors was actually 24.0%.
Not too shabby.
Now here is the “could’a had a V8” moment: this 24.0% converting ethical bribe was the second ethical bribe/sign up box I’d constructed. I wanted more sign ups, so I kept on making new ethical bribes/sign up boxes trying to get more traffic.
Of course, most of the other ethical bribes, sign up boxes weren’t converting any where near what the ebook box was converting.
I had the answer all along. I just hadn’t been paying attention to the stats.
The side benefit of this little exercise? I also noticed that sign ups requesting the ebook were twice as high as those that were offering audio products. Seems my audience may like to read more than they like to listen.
Time to make more written products than spending tons of time on audio products.
I wonder what would happen if I used video?
I’ll just have to keep watching my numbers.
But now, I need to go investigate this thing about creating hover popups. Sounds intriguing.