YOU'VE DONE IT!
You’ve created a great website, made business cards, and now business is booming, right?
If you seem to be getting traffic to your website, but you're not gaining new customers, you are probably missing a key component of your online marketing funnel.
You need something to turn your visitors into customers. Creating a lead magnet can do just that.
What's a Lead Magnet?
A lead maget is sort of an ethical bribe. Your business offers something of value to your customers in exchange for some type of contact information you can use to send them more information and updates in the future. However, realize that people are very protective of their inbox, so you have to give them something that has some real value.
Popular lead magnets include:
- Quizzes - people love to test their knowledge and gain insight
- Checklists - what to do - or not do - to get a specific result. For example, on my site I have 25 Website Must-Have's that's popular with anyone looking to build a new website.
- Templates - give your visitors a way to get a result faster. For example, most of my clients don't have Photoshop or fancy editing tools, but they all have PowerPoint, so I have an offer that helps non-designers create graphics just using Powerpoint.
- Educational opportunities - these can be whitepapers, ecourses, webinars, videos, in-person workshops - any kind of "HOW TO" will work - as long as it solves a specific problem for a specific client. My clients often tell me they feel like a "best kept secret" - so in response I created an ecourse called "From Invisible to Impactful."
7 Keys to Creating a Good Lead Magnet
1. Make sure your lead magnet has a high perceived value.
Don't make people register to receive sales literature. Is the information you're providing so valuable that you could actually sell it if you wanted to? That's a good offer!
2. Focus on the needs of your ideal customer.
Before you put together your offer, create a buyer persona so you KNOW what they want before you spend the time creating what you think they might want. Too many people skip this step and then are disappointed when they don't get any downloads.
3. Make your lead magnet look good.
Spend some time and money on designing the front cover. Use the picture of your offer right near your form so it feels more "real." Put your lead magnet on a landing page where you provide more detail about the offer.
4. Sell the benefit of the lead magnet.
Don't jump into why people should buy your products and services. Focus only on the immediate benefit they will derive from the lead magnet itself.
5. Keep it short and sweet.
In today's digital age, the problem is not the lack of traffic or customers to attract, but a lack of attention. Keep your lead magnet short and simple, something that can be easily digested by your website visitor in about 5 minutes or less. Nobody wants to spend more than a couple minutes on a video anymore and as marketers, we have to adapt. There are exceptions. Webinars are still highly valuable and can have high conversion rates, but they also have high no-show rates.
6. Follow up
The purpose of a lead magnet is to pull people into your marketing list so you can continue the conversation and deepen the relationship. Ideally you will have some marketing automation in place to keep in front of this prospect. Your email list should always be managed by a third party software tool, whether that's Hubspot, MailChimp, iContact or something else.
7. Offer a variety of lead magnets
Ideally, your business will build up an arsenal of free stuff to give away, like comparative buying guides and how-to videos. Why? Because it takes time to build enough trust so that people will leave an email address in exchange for a freebie. Plus you want to appeal to different people to sell different products and services.
Where should you use your lead magnets?
EVERYWHERE! If your lead magnets are truly valuable, why wouldn't you share them? Put them on your home page, on relevant product/service pages, on blog posts, and on your social media sites. And don't forget about offline promotion! Print your offer on postcards and hand them out at networking meetings.
All things considered, your lead magnet can be whatever you want it to be. Get creative! Be DIFFERENT than your competition. Remember that the main function of a magnet is simply to attract; it’s up to you to get them to stay.
What's been your most effective lead magnet? Do you have a lead magnet that's not getting the downloads you'd expect? Please share in the comments below!