Most website owners, blog owners, internet marketers get lead magnets wrong and end up with no email list sign-ups as a result.
They have a graveyard of opt-in freebies that failed miserably. Done correctly, you could have 40 percent of your visitors subscribe to your email list.
Nowadays people are less willing to give out their email address, especially that a lot of websites are competing to get it, for the exact same subject, so why should they choose yours?
When a visitor enters your website, it’s best to assume you only have one chance to convert them and this chance is only for 2.6 seconds.
70% of visitors to your site will visit once and never return. So you’ll need to sign them up for your list.
As a marketer, it is your job to give them a compelling reason to do so.
Email is a very personal thing. People are only going to give you their email address if they have a good reason, a good incentive.
Therefore you have a lead magnet – usually some valuable, downloadable piece of content – to give people a reason to join your email list.
If you want to generate leads online, then your business needs a lead magnet. Period.
A Lead Magnet is an irresistible bribe offering a specific value to a prospect in exchange for their contact information.
The emphasis is on irresistible. Your lead magnet should be so hot that it is almost impossible to say no to it.
The goal of the lead magnet is to maximize the number of targeted leads you are getting for an offer.
Let’s say you have a blog post on the top 10 ways you can improve your blog sales.
Which offer do you think will get the most email signups?
Ask yourself what ‘change’ should your opt-in freebie offer your subscriber?
The best opt-in freebie advertises the greatest outcome for the least amount of work, therefore make sure that your lead magnet does the hard work for your prospects in no time. The title needs to communicate this (I will tell you more about creating titles in another post.)
The following are the qualities of the best lead magnets:
A content upgrade is a special kind of opt-in bribe created specifically for a particular blog post or page.
While this is more work, it increases your opt-in percentage.
Bryan Harris uses content upgrades in all his blog posts He says his opt-in rate is between 20-30%, even reaches 60% for some posts.
Before you create a Lead Magnet, you need to know who your ideal customer is, where they are, and what they will buy.
Many marketers have a total disconnection between the customer, the opt-in freebie, the email content and the product they are trying to sell.
This is the primary mistake.
I know this is contrary to what everyone is teaching you.
They tell you just to whip up a quick PDF, doesn’t matter what it is, and once you have the email address, you are good to go. WRONG!
The opt-in offer, aka lead magnet that converts AND pre-qualifies prospects.
You don’t necessarily want everyone to sign up for your list: You actually want to filter out low quality leads.
Low quality leads waste your time and efforts.
The reality is that you need to sell the idea of signing up for your list, even if it is free, and receiving and reading emails from you.
If you only sell your lead magnet, or it has not much to do with the content of your email sequence, you are in danger that they will only sign up to get your freebie and they won’t ever read your emails.
You need to pick a topic for it that is tightly aligned with the product or service you’ll soon be selling them, and your email sequence, otherwise you end up with an non-targeted list.
Because sure, you can create any old lead magnet in 30 minutes that converts and gets people onto your email list – but how is that valuable if those prospects are totally unlikely to buy from you?
You end up with a dead e-mail list.
Many people don’t want an e-book. E-books as lead magnets have been used forever, but almost no one reads the whole thing, and it takes you way too much time to create one.
In my experience the best and easiest kind of bait is original, well-written content that solves a problem that your audience are likely having.
For a lead magnet, simple, actionable checklists and templates convert the best.
Here’s the key…
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. This is a “rule of thumb,” of course.
But we don’t recommend, for example, a mini-course delivered over 14 days or a 300-page e-book as a Lead Magnet. These Lead Magnets take too long to consume and are unlikely to be specific.
People love examples of how to do stuff, especially if it removes some of the guesswork from their jobs.
A free trial, especially if it is a full one, is considered a valuable lead magnet.
E.g. Netflix offers a free month of service for new customers.
A cheat sheet is a reference tool that provides simple, brief instructions for accomplishing a specific task.
E. g. a list of hot keys for Microsoft Word.
Lists of resources will help you find answers to all your questions about a certain subject.
A toolkit is an assembly of tools. E. g. a website building toolkit.
A free software or app is usually perceived as high value, especially if it has a useful function
Coupons are high-converting, there are entire websites built around this subject.
A discount is very similar to a coupon.
Have people submit their email addresses to have a chance to win a free item or service.
A checklist is an easy to consume item.
These are very popular, e.g. ad templates, e-book templates.
A swipe file is a collection of practical things and is perceived to have high value.
In order to be valuable, this needs to be a special video or audio, otherwise no one will care.
If you have a webinar or a podcast, giving out a transcript for it is a valued option.
Guides are popular, they are a sub-category of free e-books.
A report is similar to an e-book, but it is much shorter. Make it exciting and short.
People like case studies, because it adds practicality to dry theory.
Do you have an e-book or a video? Give out the beginning part as a teaser. It will be much easier to sell it.
A free course is used a lot, however it is not necessarily the best converting lead magnet, because it takes longer than 5 minutes to consume. In order to be successful, its value needs to compensate for this.
Spreadsheets are used a lot as lead magnets They are practical, low value and easy to create.
Webinars are extremely popular in collecting leads, especially that they offer tons of value.
Do this if you have personnel available. It is a good way to give a reality about your business with your personal touch.
Catalogues need to be delivered, therefore it is not strange to ask for contact information in exchange.
This is a popular content upgrade. Take a successful blog post and publish it as a PDF.
Allow your content to be accessed only if they sign up. This could be a library, a course, membership, anything. Just set up a password.
Great tutorials are always in demand, as people always want to learn new things. This is a kind of an e-book, make sure it is short.
I am not sure why, but infographics are very popular. If you create a good one, you can get major traffic from people sharing it.
An example for a library would be a collection of videos, e-books, reference materials that can be viewed on the spot.
Always look for a better-converting lead magnet.
Do A/B testing, change the title, change the benefit, play around with it.
Ready to create your lead magnet?