If you’re trying to turn your website traffic into paying customers, it begins with an irresistible lead magnet. A lead magnet is a valuable free resource that you give away in exchange for a website visitor’s info, primarily their name and email address. The goal of any lead magnet is to convert traffic into leads.
A lead magnet can also be called a free offer, freebie, or giveaway. A lead magnet is most commonly found on a lead capture page. Lead magnets are among the most effective ways to build your email list. If you do not have a lead magnet, or you do not have a good one, then this guide may be a game-changer to your organization.
See also: Ready-Made Lead Capture Page Systems
Why You Need a Lead Magnet
If the plan is to do list building and generate leads online, you’ll have more success using a lead magnet. Why? The short answer is because people just aren’t likely to hand over their email address without a good incentive anymore. And that’s even if they like you. As someone wanting to do email marketing, you need to come up with a good lead magnet. Period.
Related: Email Marketing for Beginners
Lead Magnet Example
- What is it: For our lead magnet example, we’ll look at the lead capture page from my health and wellness email marketing package.
- How the lead magnet works: Anyone interested in getting their health under control is going to want to get their hands of this free report. All they have to do is enter their name and email address for instant access. They are immediately taken through to a “thank you” page where they can access the PDF report. Also located on the thank you page is a “upsell” section. This is where you can immediately insert your paid offer. Additionally, each lead is also added into an autoresponder that follows up with them if they don’t go through with the purchase.
- Why it works: People love free reports that help them do something better. In this lead magnet example, our free report promises to provide tips for living healthy and eating well. An email address is seen as a small cost for a potentially huge benefit.
So, now that you understand the importance of lead magnets and how they work, you may be wondering what types of lead magnets you can create?
Lead Magnet Types
Here are the different types of lead magnets to choose from:
- Report or Guide: This could be just a few pages in PDF format. It’s the most common type of lead magnet and a great way to convey information with precision.
- Cheat Sheet, Mind-maps, and Blueprints: These are short, just one or two pages, and get straight to the point.
- Resource List: There are times when this works well. It could be a list of resources for buying products, getting things done and whatever works. The key is that the information is valuable to the end user.
- Curated Guide: This can be all the best articles on a particular topic or a list of articles that guides a person through a process. And you don’t even have to write the articles yourself.
- Case Study: This can be delivered in PDF format, video, etc. The key is you’re showing how someone was able to accomplish a specific task, what they did and the results they got.
- Video: This can be a short training, a case study, an excellent story that teaches something… frankly, you’re only limited by your imagination and the promise you made to your prospects.
- Coupon or Free Shipping: If you have a retail store, you might consider giving a discount to new customers, or offering free shipping in exchange for their email address.
- Quizzes and Assessment Tests: Give away a free quiz that tells something about the person taking it, and then collect the email address in exchange for the results.
Grow Your Business
As you know, there are three ways to grow a business:
- Increase the number of customers
- Increase the average transaction value per customer
- Increase the number of transactions per customer
With the ideal lead magnet, you can increase the number of prospects and clients you’ve got joining your list. With a well-targeted lead magnet, you may even increase the average transaction value and even the amount of transactions per client, by attracting the best customers for your individual company.
As you proceed through the next segments, always think of your lead magnet as an irresistible bribe which will provide real value to your prospects.
Getting More Sales Leads
To get more leads for your business, your lead magnet has to be great. This is what will convince your prospects to ‘buy’ it using their email address. It ought to be relevant to your market and your offers. A lead magnet needs to be ultra-specific in what it provides to the consumer and it ought to be priceless, in the prospect cannot easily Google the info and discover it.
Your lead magnet is perhaps the single most important piece of your entire marketing system.
- The right lead magnet will bring you a never-ending stream of new prospects and soon-to-be clients.
- The wrong lead magnet will bring the wrong prospects or no prospects.
Creating a Lead Magnet
Here’s how this lead magnet creation guide will work:
- First we’ll choose a specific market segment to target
- Then we will craft the ‘promise.’
- Next we’ll write the title and decide on the format.
- And finally, we will actually create a lead magnet.
See also: Email Marketing for B2C
Choosing Your Market Segment
The biggest mistake I see people making is attempting to be all things to all people in their lead magnet.
Let us take the Internet marketing niche for instance. New marketers will write a lead magnet such as, “How ANYONE Can Make Money with Internet Marketing.” Evidently, they are attempting to target ALL people of all skill levels trying to make money in ALL arenas of Internet marketing.
That’s a really broad stroke…
Another one might be, “How to be an excellent parent.” Excellent parent to who exactly? Newborn babies? Toddlers? Grade school age kids? Teenagers? Adopted children? Foster children?
It is a cliche, nevertheless, it’s true: When you attempt to be all things to all people, you are nothing to nobody.
This is not to say you can only support one closely targeted market. You can operate in several different segments; you’ll simply need to create many different lead magnets — one for each section.
For instance, let’s say you are in the relationship niche.
You could create a lead magnet targeted to:
- Recently divorced men who have not dated in over a decade
- Widows over 40 who are lonely but fearful to date again
- Men who want to be players
- Older women who want to date younger men
- And so forth
I could very easily come up with another 25 lead magnet ideas, but it’s your job to do the research and choose the best audience to target your lead magnet for.
When you have decided, proceed to the next step.
Crafting Your Promise
If you’ve made it to this point, then you’ve chosen your specific segment in the previous step. Now it is time to craft a promise. The objective here is to enter the conversation your prospect is already having in his/her head.
- what their concerns are?
- what do they want first and foremost?
What conversation are they probably already having, and how do you enter that dialogue with your promise? What value can you give them that will be irresistible to where they are in life at the moment?
It’s imperative that the value in your lead magnet ought to be specific and easy to digest.
- No mega-courses here.
- No 200-page books, either.
You want your prospect to use your lead magnet immediately when they get it. If you send them a 200-page ebook, they will most likely place it aside for later.
And that almost never comes.
How do you demonstrate that you absolutely know what you are talking about and that you’re an authority, if they never use/open/consume the lead magnet?
Another thing about composing entire 200-page books to use as direct magnets — what if you are incorrect? What if you select the wrong market to target, decide on the wrong topic to speak about, or pick the incorrect promise to make?
You would have just wasted all that time when you might have found out much faster with a brief lead magnet. Your goal is to produce tremendous value without getting long or complex.
Let’s do some examples from our previous dating nice:
- Professional women in their late 20’s and 30’s looking for the perfect husband — These girls know what they want and they do not have the time to waste. You may promise to show them the way to filter out all the men that will waste their time and find the hidden jewels who will make excellent lifetime partners.
- Recently divorced men who have not dated in over a decade — those guys have been out of circulation long enough they’re forgotten the way to successfully approach girls. Plus they are concerned that things have changed, times have changed, dating has changed. So you may promise to reveal them 3 simple methods to begin a terrific conversation with any woman, irrespective of how out of practice they could be.
- Widows over 40 who are lonely but fearful to date again — they are feeling guilty about a relationship. Dating seems frightening to them. They do not have a clue how to start dating. They will need to take things really slow initially. So you may promise to show them how to find men to be friends with first, and see if things progress from there.
You’ve already got your target market, so today you’ll want to write down a few thoughts of the promises you can make. As soon as you’ve got your list, select one. If you are afraid it may be the wrong one, or you are procrastinating because you are trying to find this ideal, then just select one. You can always switch it up later.
How to Write a Lead Magnet Title
You might want to write several headlines and then whittle it down to 2 or 3 to test later. Decide on what type of lead magnet you’re going to create, and the tough part is over. You’ve chosen your market segment, made a promise and written a headline or two or three.
Now you’re going to decide what format you’ll use to deliver your lead magnet. Remember you want to keep it simple. Play to your strengths and choose something that will be consumed quickly.
Delivering a Lead Magnet
There are many ways to go about this. For instance, with my email marketing packages, I include a thank you page. On the thank you page is a download button and when people click that link, they receive their download. Plus, of course, their now on the list. They’ve had to give their name and email address to get access to the download.
Email Service Providers
If you do not already have an email service such as AWeber, (my favorite) you will want to do this today. AWeber gives you the first 30 days free. If you want to start at no cost, try Mailchimp. Their smaller plan is completely free and you won’t pay until you update later. However, AWeber is easier to use and there’s always something to be said for that.
Your email service will offer opt-in boxes which you can put on your website (in a variety of places, in addition to creating a landing page/squeeze page. Should you have a site of your own, set your lead magnet alongside the sidebar, so it’s displayed on every post. In addition, you can use a pop-up from OptinMonster.
The money is in the list – You may have heard this before, but it is true. On average, you can be making $1 for each name on your list, and some people make even more. It becomes a source of security, and it is an asset to build a responsive list of names and then be able to offer them something that helps them while making sales in the process.