A Lead Magnet is an irresistible bribe offering a specific chunk of value to a prospect in exchange for their contact information so you can begin marketing to them via a sales funnel.
The goal of the Lead Magnet is to maximize the number of targeted leads you are getting for an offer. It’s the first step in my Customer Value Optimization process.
First, you must understand the single most important element of a successful Lead Magnet… Specificity.
Lead Magnets don’t have to be lengthy, complex or time-intensive to create. The perfect Lead Magnet will offer TREMENDOUS value within 5 minutes of the opt-in. You MUST solve a specific problem with a specific solution for a specific segment of your market. Lead Magnets convert far better than Websites as they are specific and contain content on only ONE big promise.
The key is your Lead Magnet must be consumed by the prospect for it to have an impact. The perfect Lead Magnet will offer tremendous value within five minutes of the opt-in.
Notice how simple and specific this Lead Magnet is… get a Report on how to grow enough food to feed a family of 4 in just 4 square feet of space – even if you don’t have a yard.
Specificity is the most important element in our 8-Point Lead Magnet Success Checklist (you’ll get the entire checklist at the end of this post), but there are actually seven other elements that matter when creating your Lead Magnet.
You can run Adwords ads and Facebook ads to them.
Here are 9 Lead Magnet types that do it right followed by the 8 points that must be included in every Lead Magnet…
Reports and guides are among the most common types of Lead Magnets. If you use a Lead Magnet of this type — be careful. You could easily violate the specificity rule with this kind of Lead Magnet.
2. Cheat Sheet/Handout
Cheat sheets and handouts work well. They have a different “feel” to them than reports or guides. They are generally very short (one page or so) and cut straight to an ultra-specific point. You can deliver these as checklists, mind maps, or “blueprints.”
3. Toolkit/Resource List
A toolkit/resource list can make a great Lead Magnet for the right business and market — this can be delivered as a “starter kit,” templates or a glossary of things they need to know.
4. Video Training
If it makes sense and you have the skillset, video can be a very effective way to deliver on your Lead Magnet.
5. Software Download/Free Trial
Software companies often offer a free trial of their software as a Lead Magnet.
6. Discount/Free Shipping
For those selling physical products on or off-line, discount clubs or free shipping offers can be an effective Lead Magnet type.
An online quiz or survey can be a very engaging way to generate new leads. To get the results of the quiz or survey, participants must give an email address. The results will then be delivered to that email address.
An assessment or test, particularly if it is delivered online to increase the speed of consumption and gratification, can make a powerful Lead Magnet.
9. Blind/Sales Material
In some cases, the most desired piece of information for the market is pricing and descriptions of products or services. Ikea harvests contact information in exchange for their catalog. And they can deliver it digitally to speed up consumption and gratification.
Now that you’ve seen several types of Lead Magnets, we set out the components of a successful Lead Magnet.
8-Point Lead Magnet Success Checklist
1. Be Ultra-Specific
Lead magnets should NEVER be vague. They must offer an ultra-specific solution to an ultra-specific market.
2. One Big Thing
Everyone wants a “magic pill” or “silver bullet,” so it’s always better to make and deliver one big promise as opposed to a lot of little ones.
3. Speaks to a Known Desired End Result
What does your market REALLY want? If you can figure that out and offer a Lead Magnet that promises it, prospects will gladly give you their contact information.
4. Immediate Gratification
Avoid using newsletters and multi-day courses as a Lead Magnet. Your market wants a solution and they want it NOW.
5. Shifts the Relationship
The best Lead Magnets do more than inform…They actually change the state and mindset of your prospects so they’re pre-framed to engage in future business with your company.
6. High Perceived Value
Just because it’s free, doesn’t mean it should LOOK free. Use professional graphics and imagery to establish real monetary value in the mind of the visitor.
7. High Actual Value
If your Lead Magnet is all sizzle and no steak, you may get prospects’ contact information, but you’ll lose their attention. To win, you must promise AND DELIVER the goods.
8. Rapid Consumption
You don’t want your Lead Magnet to be a roadblock in your sales funnel, so, ideally, it should be able to be consumed or experienced within five minutes.
The Lead Magnet Thank You page is often where we make our next offer.
Here’s the big takeaway… Many of the items in this checklist boil down to this underlying principle: Specificity matters.
Take a look at your Lead Magnet through the eyes of this checklist. Are you promising too much? If so, test something more specific.
Now, I know what you’re thinking after getting this far… How Do I Get Traffic to My Lead Magnet?
Wrong question. The fact is that traffic is all around you. Google, Facebook, and LinkedIn have billions of users they’ll happily send to your Lead Magnet.
(RELATED: 7 Lessons Learned from 1,140 Facebook Ad Campaigns in One Year)
The right questions to ask are: •What offers will I make to new leads?
•How well do these offers convert?
•How much is a visit to my Lead Magnet landing page worth?
•How much is a new lead worth?
•How much is a new sale worth?
What if I told you that every time you generated a visit to your Lead Magnet landing page you made a $10 profit? Could you get traffic to that page?
Sure, you could spend up to $10 to generate that visit without losing money. (RELATED: How 6 Pro Marketers Would Spend $10/day Buying Website Traffic)
To answer these questions, start by understanding the complete Customer Value Optimization process. The Lead Magnet is Step 1 of the 5-Step process.
Then understand these two simple metrics that determine what traffic, leads, and new sales are worth to your business.
With the right Lead Magnet in place and a funnel behind it… your business will become a lead and sales generating machine.
Download the 8-Point Lead Magnet Success Checklist now.
NOTE: Before you create a Lead Magnet, you need to know who your ideal customer is, where they are, and what they will buy. Download our proven Customer Avatar Worksheet now and get clear on who you’re selling to.
This content was taken from a blog written by Ryan Deiss of Digital Marketer which includes images of many Lead Magnets – https://www.digitalmarketer.com/lead-magnet-ideas-funnel/?utm_source=newsletter-email-broadcast&utm_medium=email&utm_term=newsletter&utm_content=dmblog-5-6-18&utm_campaign=Blog%20Post%20Featured%20Emails.
Call us NOW on 027 489 5009 or email email@example.com to design and create your Lead Magnet to boost your customers and sales.