A lead magnet is a catalyst, the starter to selling what you offer. And if you want more clients. You may be surprised at how important this is for your business.
A lead magnet is an incentive you give to prospects/strangers to share their contact information with you, like their name and their email address. There are many different types of lead magnet. What works best is specific to your ideal client and the problems you help them solve or services you offer. I always recommend that as a starting point in creating a lead magnet, you begin with the end in mind. For example, start with what is you offer. What are you selling? This should be the starting point because your lead magnet will complement your offer, your service. It will be a natural progression that leads to your offer.
Have you been to Costco or Sams? If you’ve ever been there on a Saturday morning, you know exactly where I’m going with this. Free food! Who doesn’t love free food? The whole point behind the free food samples is that they want to give you a taste of what they offer in hopes that you will like it and buy. I’ve bought many things because of those samples. This is the same concept in your business. Think of your lead magnet as a bite-sized sample of the value you can deliver for this potential client. You want it yummy, satisfying, and, most of all, irresistible.
Ask yourself: What’s a problem that many of my ideal clients want to solve? What’s a question I’m often asked? What information can I provide to give them a small win in their business? That may be a downloadable 7-day plan to jumpstart weight loss if you’re a weight-loss coach, a home buyer guide on the common mistakes to avoid when buying your 1st home if you’re a real estate broker, or a checklist for commonly missed business deductions for entrepreneurs if you’re an accountant.
The Best Performing Lead Magnets
Some of the best performing lead magnets can be as simple as a one-page cheat sheet or as involved as a quiz. Webinars are great and work very well. I’ve used all of these in my business and with clients. What they have in common is they draw in your ideal client because they take the next step in your business. You demonstrate value by providing information, answering questions they would have, or helping them get a small win. This indicates that you know what you’re talking about, and your business can help them resolve their challenges. It’s really important to know your ICA so you can create something amazing for them.
If you’re new to your business and clientele, I would recommend starting out with something simple like a downloadable pdf to get started. This will allow you to start testing different lead magnets to see what resonates most with your ideal client.
How a Lead Magnet Helps Your Business
The value of a lead magnet is that it creates leads for your business and can help you to start building a solid email list. Making a list of leads for your business (email list) should be a priority. Even over getting likes and followers on social media. You don’t own the followers on Facebook, Mark Zuckerberg does so if they change something or shut down tomorrow those followers are likely gone. With an email list of highly-qualified leads, you have easy access to your clients. You can reach out at any time with updates, articles, news, and offers. It allows you to build a relationship in a digital space.
When someone gives you their personal information in exchange for your lead magnet, this is one of the first indicators that they’re interested in you and your business. From there, you want to focus on building the relationship so they can get to know you better, and you can do the same.
And here’s the thing….For every $1 you spend on email marketing, you can expect an average return of $32 (DMA, 2018). It still remains one of the top ways to convert leads into clients.
Now go out there and create an awesome lead magnet.