Wondering how you can get even more leads coming to look at your products or offer? The answer lies in crafting an irresistible give-away that your folks just can’t live without.
The marketing term for these give-aways is “lead magnet.” We’ll break down what this means and how you can create a lead magnet that’s both enticing and genuinely helpful for your own audience. First of all, let’s start with the basics.
What is a Lead Magnet?
A lead magnet is something valuable that you offer to prospective customers or clients in exchange for their email address or contact information. An exchange of value. You have probably received a lead magnet yourself from a marketer. Examples would be a free e-book, a PDF checklist, a report, a guide, an audio recording or video, etc. These are free gifts given in order to obtain the person’s contact information and begin a relationship.
As a marketer, you are always trying to attract people to you so you can serve and help them with your products or services. Sometimes they need a lure to draw them in. Of course, there are many marketers out there creating new and exciting free lead magnets all the time. You want yours to be especially enticing. People need an incentive to share their information with you. Here’s a clue. People are looking for solutions.
What Makes a Good Lead Magnet?
Before you begin the process to create a lead magnet, ask this question: “What does my prospect need?” As with almost every aspect of your marketing, knowing your prospect inside and out will help you answer this question. Your lead magnet should be exactly what they are looking for.
Here’s an example:
You’ve got a post on social media talking about something relevant to your niche, and at the end you say something like:
- So, you don’t miss any updates, shoot me your email address, and I’ll add you to my newsletter list. -OR-
- Grab our free 3-page PDF that will show you exactly how to [solve your current issue]
See the difference? Which option do you think will capture more emails for your list? The one with the incentive! Exactly!
Create a Lead Magnet That is Irresistible: 8 Criteria for Lead Magnet Templates
In our signature coaching process, Your Pathway to Profit, we spend much of one session on lead magnets. It’s that important to your business. When you create a lead magnet you should utilize a proven lead magnet template. To maximize your effectiveness, we are sharing the one we have developed, tested, and continue to use. Remember this simple acronym: S-O-L-U-T-I-O-N.
Solve One Specific Problem
That is probably the most important criteria for a good lead magnet. People want their problems solved, and they want it now! When you can target in on one common problem and solve it, you become the hero. Your authority shoots through the roof.
One Specific Audience
Your lead magnet should be designed for one person in mind and be very specific. This will ensure your free lead magnet is relevant and not too general. If too general, people will ignore it.
Listen and Respond to Objections
As a marketer, you want to enter into the dialog going on in your prospect’s mind. So, as you write, try to “hear” that inner dialog. As they come up with questions or objections, anticipate and respond to them.
Makes sure the title of your free lead magnet is full of the exact benefits your ideal customer is looking for. For example: “The [perfect prospect’s] Brand New Guide to [Specific Result] without [Stuff they hate].” We suggest writing out at least ten names and choosing the best. Use a thesaurus if you want to have something truly unique and memorable.
Your lead magnet should be easily consumed within 5-15 minutes. People love instant gratification. Their time is precious. You are solving a problem, and you’re doing it with a quick win.
You are giving away something valuable, a complete solution in itself. However, it’s also one piece of a solution to a larger problem. It’s only part of the puzzle, so to speak, and you need to show how it fits into the larger process.
One Big Promise: A Real Transformation
Make sure you over-deliver and are clear on how this lead magnet will change their life, cause them to see the world in a new way, have more leads than they know what to do with, or whatever your promise for transformation is.
Most marketers forget this piece. That’s to have your lead magnet be only the first step. Don’t forget the main purpose of a free lead magnet is to move your prospect through your funnel. You’ve got their attention; don’t let your lead magnet be a dead-end street. Offer additional value, something to purchase, or a FREE consultation to get them on the phone. Lots of magic can happen when you can talk to the prospect.
Each of your lead magnet templates should follow this pattern for best results. Whenever we create a lead magnet or revise one we already have, we check it carefully against this helpful formula. You might keep it in mind when you see other people’s lead magnets.
Where Does a Lead Magnet Fit in Building Your Business?
As we’ve mentioned, the purpose of a lead magnet is to attract the people to you (like a magnet) by offering them something of value, a valuable solution to their problem. Learning how to create a lead magnet that speaks to your audience is one of the keys to growing a base of raving fans. When you can satisfy a need, you are a hero.
But that’s only one piece of building a business. You also need to know how to follow-up and nurture the folks you have helped with a lead magnet. But even that is only a piece of the puzzle. You need to be able to see the whole picture and understand where each piece fits in context.
In other words, you need a plan … a map, as it were, for building your business. To create a great lead magnet is important, but so is knowing its place and sequence in the process of building your business. The diagram shows the place it fits in our signature coaching process, Your Pathway to Profit. To learn more and see if you’re a fit for our coaching, see our Work With Us page.
Blessings to you!
David & Dana
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P.P.S. – If you know others who could profit from creating lead magnets that really entice and serve their audience, share this article with them on Facebook. And, if you’ve found it helpful, please take a moment to like and comment as well!