How to Make a Lead Magnet or Offer Magnet
Attracting customers is like attracting the hot guy or girl from across the room. No one tells you exactly how to do it, but you know the more attractive you are, the better chance ‘something’ is going to happen.
Same goes for business. You have to make your business attractive to new customers.
What are Lead Magnets?
A lead magnet in simplest form is an ethical bribe in exchange for a persons email address. You can ask for other fields as well, like their name and phone number, but the market is moving more and more towards email only.
The difference between a sign up box and a lead magnet is the compelling offer… a freebie that has tremendous value in exchange for their email. When you have the right lead-magnet, your advertising process gets so much easier.
Having the right lead magnet can make a difference between just having a website…and having automated income.
If you aren’t currently using a lead magnet, this one change can catapult your business into the stratosphere.
There is a concept in business known as “moving the free line”. Eben Pagan, a high end business marketer, is usually credited with this term.
What it means is that once a customer enters your site or sales funnel, there is this line that separates your free content from your paid content, software, hosting, etc.
Creating a lead magnet is a way of moving the free line back one step so the user isn’t prompted for their credit card on the very first screen.
In an ultra-competitive market, this allows those that truly have the goods to demonstrate value to their would-be customers before asking them for the sale.
Giving someone an email is theoretically free, aside from be annoying to receive too many.
This often gets those that are hesitant to spend money into your sales funnel…or at a minimum, onto your autoresponder series.
This gives you a better chance to convert them to customers using a staggered multi-contact approach.
What Are The Benefits of Lead Magnets?
There are a lot of reasons to create a lead magnet, some of them I just mentioned above…but here are some additional reasons that are worth taking note of.
– You create a sense of reciprocity with your subscribers. Once you have given them something, they feel compelled even if it’s ever so lightly to do something for you in return.
– You create curiosity about your paid program. When the user gets this high value item from you, they can’t help but think, “what’s the paid content going to be like?”
– When the lead magnet is of value, people will share it with others.
Make Sure It Resonates
You want to make sure your lead-magnet offers something that resonates with your brands overall message. In other words, don’t offer them a set of Ginsu knives when your website is about Child Safety.
Your lead magnet should also tie in with the ad, article, YouTube video or press release that you are getting your traffic from. So if your ad states, free report on retirement planning…it only makes sense to make your lead magnet deliver on that promise.
Most times it’s a bit of a given that people will be receiving ongoing emails from you after the opt-in. But you might want to clarify that for new subscribers. You can do this either on the thank-you page or in your first email to them after registration.
Getting People Into Buckets
First you have to get people into buckets… What are buckets? Buckets are categories that your customers fall into. One of the biggest mistakes that I see marketers make is they pitch the same message to all of their clients.
Let’s say for example that you have a Business that books travel to Puerto Vallarta, Mexico. Each person coming there is looking for something different.
Your clients might fall into the following categories (or buckets)…
- Students looking to travel for Spring break and release finals energy in Mexico.
- Retirees looking to find a second home in a warmer climate.
- Families looking for a stress-free all-inclusive resort on the beach.
- Single men and women looking for adventure and possibly love.
- Adventure minded people of all ages looking to zip line, 4×4 and deep sea fish.
Each one of these groups would respond to a different lead magnet. When creating the NicheBuilder blogging experience we developed our theme with this in mind, allowing for a different lead magnet on each and every page of your website.
So you can write a blog post about “Partying in PV” and have a lead magnet that appeals to the partiers…
and on another page you can write a different blog post about the Real Estate opportunities in PV and have a lead magnet aimed at retirees…
Having lived there for the better part of two years I saw people come and go every day. The companies that had a solid internet presence filled their boats and tour buses every day while those with little to no Internet presence sat around trying to hustle the locals for a couple of pesos here and there.
In this example we’re talking about offline businesses, but the same goes true for online businesses.
An online business is usually delivering some sort of digital good such as a course, a print out, a tutorial or anything else that can be delivered electronically.
In order for a lead magnet to be affective, the person downloading it has to use it.
If the person doesn’t actually use it, then having a lead magnet is okay, but unlikely to propel the visitor to the next step.
Make Them a Promise
Get into the conversation already going on in their head. I get emails all the time saying, “it’s like you knew what I was thinking… how are you doing this?”
- Ask them what they are having trouble with…
- Find out what their biggest challenges are…
- Know your customer avatar intimately… what do they do on the weekend? what causes do they think are noble?
Make it Highly Valuable
Give them something of value in exchange for their email. Listen, web users are not dummies. They are real people and they realize there is value in them giving you their email address.
Whatever you give them should provide value in their lives. And that doesn’t mean just title the offer to get them to click through. This is your first transaction with them. It should be pleasant and leave them with a good emotion about your company.
Name Your Lead Magnet
This is the name of the actual product that you are giving away. This should deliver results in advance and use language that your customer is familiar with. It should be of high value to them.
Gardeners How I Grew Tomatoes In the Snow
Investors How to Successfully Straddle the Option
Peppers Survivalists How To Purify Any Water
Guitarists How to Learn Songs Faster
Marketers How to Get $1 Leads
Travelers Get First Class Flights At Coach Prices
Choose a Type of Lead Magnet
When creating your lead magnet, it’s important to match your lead magnet to your viewer. Are they visual? Most men are… a quick peek at the porn industry pretty much validates that. Are they auditory? Do they want to listen to you? Art Bell has made a total career with his soothing voice and his night time radio show. Are they readers? Most products originally start like this. But what about including a graph or two? Or an infographic? In the next several paragraphs we’ll discuss the types of lead magnets. Maybe this will trigger the necessary thoughts for choosing one for your customer.
Types of Lead Magnets
In the internet game, time is everything. Offering a cheat sheet that simplifies something complex or helps someone navigate a complex process is a great way to get the email.
A list of keyboard shortcuts for Excel that you can print out and put on the wall is a good example here.
WordPress is the 800 pound gorilla in the room these days.
It can do a lot on its own, but often requires special plugins to do specific niche related tasks.
For example, we created a special plugin called LinkTrust that redirects users through an affiliate link but shows the root URL of the destination when hovered. So instead of a complex affiliate link for Verizon wireless, it simply shows… www.verizonwireless.com.
We give this plugin away for free in exchange for the visitors email.
Webinars are still the craze in the online world, but they are not used in the same way they were used 5 years ago. As the free line has moved, so has the purposing of webinars.
Now webinars are being used for more than a 90-minute sales pitch. Offering your subscribers a webinar where they can see how you do business differently, with no sales pitch, will often bring them to the door with checkbook in hand, even if you don’t ask for the sale.
Checklists are awesome! I mean, how do you know if you’ve completed something unless you are following a checklist.
That doesn’t mean you’ve done everything right, but having something done for each step of the process will help whoever is helping you to check your work and make new suggestions.
Resource lists are concise and easy for the user to digest. Some examples travel resource lists, outsourcing resource lists, lending resource lists…basically anything that will save someone trial and error time.
Think of this, you could call 30 lenders to see if they will lend at 10% down, or you can download a list of 6 that will for sure do it. This probably saved you 2 hours of frustration.
Survey, Quiz or Poll
Take this survey is a great way to get people to start down your funnel.
In the online marketing world it might be, “Are you cut out for Online Business? Take this Survey to find out…”.
The quiz is gaining a lot of popularity right now. The Ask Formula from Gary Levesque is currently a New York Times best seller. In it he demonstrates how to find out exactly who your customer is by analyzing their quiz and survey responses, then developing your offers to specifically target those problems.
Infographics help you bridge the gap between the online and the offline world. If your info graphic is solid, People will print them out and post them on my wall.
Think about it this way… can you name the last 10 websites that you visited? Okay, those are your most favorite sites… now can you name the last five sites you visited that covered a topic you are researching?
Exactly. By creating a info graphic that is worth printing out…
You’re now in their mind every time they sit down desk or glance at the wall.
Spreadsheet are great because you can build complex formulas into them that make people’s lives much much easier.
Examples of this could be a property valuation worksheet for the real estate market or a funnel calculation worksheet for Internet marketers.
Probably one of the oldest and most widely used formats for the lead magnet. This is essentially the person signing up to receive your autoresponder emails over a specified time.
The only difference is, rather than a marketing message, the expected result is an educational course that teaches the subscriber something.
Your video course can be delivered either all at once or over a specified period of time
This can be a limited time offer. The next stage in your customer funnel will be the tripwire offer or lead-in offer. So you might presell a special discount on that product in exchange for their email.
Giveaways are pretty straight forward, unless you are collecting emails for one big prize. Then you need to check with your specific state as to the governing rules for giving away prizes.
Free Trial (SAAS)
This one is very near and dear to our hearts. We like to have as many people as possible on NicheBuilder and providing people with a trial allows them to see just how easy and time-saving NicheBuilder is.
Private Facebook Group
Offering access to a private Facebook group can give your visitors a sense of community, and really give them a chance to connect with you.
Coupons will offer a discount on any product. What’s nice about coupons is you can cross pollinate your message with complimentary products. In our case, that might be a coupon for a $1 domain, so long as it’s purchased through NicheBuilder.
This one works great for business coaches, attorneys, dietitians and consultants of any kind.
It used to blow me away how $400 an hour attorneys would sit and spend 2-3 hours educating me for free. But in hindsight I usually ended up spending forty grand with them throughout the ensuing relationship.
Free Tickets To An Event
This is a great one. One of our close relationships, FortuneBuilders, they offer free tickets to their hotel events where they will educate you on how to flip real estate in your current market. At the event they offer more personalized coaching to move you closer to your goals.
A swipe file is a collected group of email copy, graphics, word documents, screenshots and whatever else a person might put aside for future reference. Marketers may offer this collection of materials in exchange for the email address.
Access to An Online Tool
This might be in the form of a downloadable app, a keyword tool, a domain searcher, a blog name generator, a blog post name generator or any tool that works for your specific niche.
If you were a chiropractor or acupuncturist, you might have a tool that shows a description for the pain in the area where you are feeling it.
A Gated Video Course
This is a nifty little tool. Wistia has developed this into their portal very nicely. You can set how long you want the video to play before the email form pops over. You then need to enter your email to continue with the video.
Access To a Private Blog Post or Content
This is pretty common, it can be very similar to an email course, only the user gets all the information all at once, after they enter their name and email.
As marketers, we’re in the business of Time. I loved the movie In Time with Justin Timberlake. It’s about a time in the future where the only thing that matters is time.
Your business should be structured in a similar format. The only thing that matters is time. Where you can, try and position yourself in the market to save your subscribers time.
Whatever your competitors are doing, simply do it faster for them.
The 5 Minute Rule
And speaking of time, can your website visitor consume the lead magnet in 5 minutes or less? This is key. Look at it this way… If you give them a 279-page eBook, while that might be of tremendous value, your new lead will probably feel they need to digest at least some of this mammoth book before moving onto the next step with you. Your ideal lead magnet gives them a valuable piece of the puzzle, but not the entire puzzle. They will be able to complete the puzzle with your first paid product.
Finding Ideas for Lead Magnets
I’m going to give you a really quick hack for finding out what’s getting traction in your niche. http://www.BuzzSumo.com
When you go there, you simply enter your keywords and they will show you what’s getting the most Facebook Shares, Twitter Shares, Pinterest Repins and Google Shares. Simply look at the title and copy and start conjuring your own version. If you need traffic for your offer, why not contact the same people and see if they will share your link as well.
Are you being specific enough?
When you are too vague in your offer, it is difficult to get people to take action. Consider, “How Would You Like to Make More Money Online?” versus… “Make $35 Dollars Online in the Next 24 Hours!” The first one will probably get lost in the
Did you focus on one big thing? Our tests have shown that focusing on one big thing vs. 100 smaller things, gets a higher click through rate.
Even The Button Matters…
It’s important to have optimized CTA (call-to-action) language on your button as well. Give Me The Report! is much better button text than Sign Up Now!
Connecting Your Autoresponder
In order to have an effective lead-magnet, you’ll want to have an automated system on the back end, even if you plan on calling every lead and broadcasting sporadically.
This automated system warms them up to working with you.
The first email should thank them for allowing them into their busy life, set some expectation as to how often they will hear from you and deliver the ethical bribe that you offered for their email.
Once you have your landing page built, you will want to connect your autoresponder to that page. That’s done by importing your html form from Aweber, ConstantContact, iContact or MailChimp.
When you do that on NicheBuilder, we will automatically pull the form fields and add them to your landing page for you.
Single vs. Double Opt-in
There are several trains of thought on this. We have tested giving them the material directly after the option on the next page, after the confirmed optin, in the first email, etc.
Your goal should be to create enough of an instant impact with your reader that they give you their best email, without having to trick them into giving it to you. Make sense?
Best Places to Have Your Opt-in Form
Facebook is great for advertising your lead magnets. You can advertise there based on age, male or female, pages they have liked, geographic location and several other parameters.
Sending traffic directly to your blog post is better than sending them to your landing page.
By sending visitors to a blog instead of a squeeze page, all of the ad-nazi’s at Facebook and Google will approve your page.
You won’t seem like such a money-hungry scammer (not that you are)…because you are bringing the user to valuable content, not to a page specifically designed to siphon user information from “their” users.
The reason Facebook and Google are so strict, is because they value the privacy, user data and wallet of “their” users. If they show ads and allow a negative experience into their users lives…that will reflect bad on them. Too much of that, and they are no longer in business.
Testing Multiple Lead-Magnets and Adjusting
Having one lead magnet isn’t the end all beat all. You really should have more than one. But this will happen naturally over time. When your first lead magnet starts adding subscribers, you’ll either automatically be receiving feedback from your customers about it, or you can survey them. What you are looking for is the parts that they like most about it.
So for instance, let’s say you gave away a guide to buying musical tickets cheap in NYC. And your product is an affiliate promotion for the various shows. Your customers tell you they were thrilled that they got to see Chicago (the musical) for example.
This data tells you something. Maybe what people are looking for is a way to get to see Chicago for less?
So you can create a new LeadMagnet guide that specifically focuses on the musical Chicago. This might convert better overall as the person visiting your page might be thinking, “sure they have deals, but not for Chicago…”.
Easy Setup On Your NicheBuilder Blog
The best advice that I can give new marketers is to simply get it done. Repeat after me…“done is better than perfect”.
When implementing your lead magnet on NicheBuilder it’s as simple as filling out a few small forms, uploading a picture and clicking save. Our goal is to reduce the technical pain when creating online assets such as your blog and lead magnets.
Let’s Get Started
If you aren’t currently hosted with NicheBuilder, now is your chance to take advantage of the number one blog posting for WordPress available on the Internet.
Simply click this link here to get started right now, and we’ll see you on the inside.
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