Quizzes provide value in two ways. The first is by bringing in new sales leads (you can collect emails, names, phone numbers, etc. using your quiz.) The second is by selling ads based on the amount of traffic a quiz can bring to your site.
I’m going to go through exactly how two of Interact’s customers created strong ROI from running quizzes.
1. New sales leads
Interact quizzes have a built in feature to collect leads and add them to your marketing automation program. One of our customers who has had excellent success using this feature is Skilledup, a content site that does in-depth tutorials.
They have a tutorial about Microsoft Excel, and embedded a quiz into it. The screenshot below shows the opt-in screen of the quiz. This screen comes between the questions of the quiz and the results and can be skipped by people taking the quiz.
And here’s the quiz as it looks embedded in the page. It’s a native part of a guide that was getting strong SEO traffic before the quiz but wasn’t delivering leads. The quiz was an attempt to spice up the page to increase the amount of time people spent on it but more importantly to get targeted leads (since Skilledup knows where these leads are coming from, they can send them to a list specifically about Excel).
Since embedding the quiz, it has been completed 24,746 times, and 6,413 people have opted in to receive email updates despite the obvious “skip this step” button on the quiz. (this screenshot comes from an internal Interact database)
Now according to Marketing Sherpa, a new email subscriber can be worth anywhere from $2 to $100 dollars. Since Skilledup is in the digital products space, I would assume it’s near the low end of that spectrum.
Worth of leads collected (assuming $2 per lead): $12,826
Interact cost over 12 months at $350/mo: $4,200
Return on Investment: 305%
2. Ad revenue
This one is going to need me to make a case like a lawyer, which I will do. You see it’s always a bit difficult to really calculate ROI from what’s known in the advertising world as “pageviews.” That’s why I’ve done my best below to equate the traffic that Forbes’ college quiz gets to actual ad dollars.
here we go.
Our test subject is Forbes’ college quiz. The college quiz got 60,000 hits in the first week. That was in July 2014. Since then the view count on the quiz has ballooned to 151,000, or roughly another 3,000 hits each week since then (it’s now February 2015).
The first step in figuring out how much that traffic is worth is to search the term “college quiz” in the Google Keyword Tool. This gives an idea of what other companies are willing to pay for ads that target the term “college quiz.”
So for every person who clicks on a college quiz ad, the approximate revenue created is $1.32. As you can see in the screenshot below, Forbes is running Google ads for that very term on their college quiz page.
So hypothetically Forbes gets $1.32 for every person who clicks on that ad, and according to SEOchat the average click through rate is 1.5% across all adsense powered pages. That means for every 1000 visitors to this quiz page, 15 should click on an ad.
So now let’s figure out how much money Forbes has made off of this quiz page. The first week they got 60,000 hits, and if we plug that into our calculator, that means they made $169.71 a day, or $1187 for the week.
However, things certainly did not end there. The quiz ranks #1 for the term “college quiz” which means it’s getting consistent traffic, nearly 3,000 new visitors per week.
So each week they are bringing in another $254 in ad revenue (revenue from the additional 3,000 hits). Given the search position for the quiz page, this traffic has been tremendously consistent over the last seven months.
Now let’s calculate some totals here. For the first month Forbes needed the $350 a month plan with Interact, and then for the next 7 months they’ve needed the $150/mo plan (based on their traffic stats).
Total Interact spend by Forbes: $1400
Total Ad revenue from the quiz page: $2965
Return on Investment: 211%
I rest my case.
Now I realize that this is an approximation, but it’s certainly possible to make money from running quizzes, and it’s been done time and time again with Interact.