Lead magnets are a very effective marketing tool for bringing prospects into your pipeline. But so many lead magnets fail because they don’t have all five of these essential components.
The very first thing that your lead magnet should be is something your ideal prospect wants, but not necessarily what you know they need. We know we need to eat our vegetables, but we want pizza. You need to offer what people want. Later on, you can give them what they need. But you can’t help them until you get them in the door. What does this look like?
In my business, everybody wants to know how to have a bestselling book. Well, having an Amazon bestselling book is not hard and most of the “bestselling” authors you see are Amazon bestsellers, not New York Times or Wall Street Journal bestsellers. And, a bestselling book on Amazon doesn’t necessarily mean the author made a lot of money. Business authors don’t necessarily need a bestselling book (although it’s nice to tick off that box). They need to write a good quality book to establish their credibility and attract the right kind of clients. But I know everyone wants a bestselling book. So, one of the things that I do is I bundle “How to Become a Bestselling Author” with the course they need on how to write a quality business book. People click like crazy because of the bestselling author material. I take them on a path that says, “Yes, you can be a bestselling author. That’s not hard. But when all those people buy your book, you want to make sure you look smart.” I use what they want to give them what they need.
Second is that you must deliver on what you promised when people signed up, whether the promise is in the title of the lead magnet or on the landing page where they opted in. You cannot promise information or a result and then say, “That information is in my Super-Duper Platinum Course.” You cannot say, “You need to buy my private coaching to get that.” You can say, “Here’s the short answer but it really deserves a more in-depth look. For a full step by step process, you can buy my book.” But don’t ever say you’re going to give people something and then not give it to them. You don’t want to break trust ever, much less at the beginning of a relationship. The lead magnet is an introduction to you, if you break trust right off the bat, they’re never going to work with you. Be trustworthy; be a Boy Scout.
The third essential component of a lead magnet is giving people a quick win. This is because we are in the age of instant gratification. I go on a diet. I diet for one day; I expect to lose 15 pounds. I want instant gratification. It’s not happening. I’m an adult; I understand it doesn’t work like that. It doesn’t mean that I’m not disappointed. There’s a reason why the diet pill business makes so much money: people want miracles. Now, that’s an extreme example. But people are used to having instant gratification. You order something online; it’s delivered same day, sometimes within hours. That’s why you want to give people some sort of quick win or some sort of ninja hack that they can try out right away. It’s even better if it’s easy to do.
One of the best examples of a quick win was a cross-pattern exercise that was supposed to help your brain function. When I was reading the lead magnet, it sounded so simple that I just stood up and did it. It was great. It’s was, “Here’s what you need to do; here’s how to do it.” It was so easy even I could do it. And I felt like I had accomplished something. So, of course, I thought the site I had found it on was valuable and the authors were geniuses. Why? Because they made me feel like I had accomplished something, even though it was a small thing. It made me more likely to learn more about the course they offered and buy it.
Fourth, you want your lead magnet to align directly with your services. For instance, if you’re an auto mechanic, you might want to give people a checklist for scheduled maintenance. Should people have their oil changed every 3,000 miles or 5,000 miles? If I have synthetic oil, is it changed every 6,000 or 10,000 or 2,500 miles? People need to know that if they want to keep their car running well. How often should I rotate the tires? I don’t know. I can look it up in the manual which is buried somewhere in my glove compartment. But if I had a handy little checklist from my mechanic, that would be better, much easier.
Another example might be tips for decluttering your house. If you’re a real estate agent, you can have a leave-behind that tells people how to prepare their home for sale. When real estate agents go on listing appointments, they may or may not get the listing right away. A smart seller probably interviews several agents. Suppose one of the agents, along with the normal paperwork that agents give homeowners, also gave the homeowner a book (or booklet) with the agent’s name as author titled, How to Get Top Dollar for Your Home. Have they differentiated themselves from the competition? Do they look more professional? More successful? You bet. It’s amazing that a little extra effort can put you ahead of your competition. A smart seller will see the extra effort the agent put into her materials and think the agent will also put extra effort into selling their home.
Last and probably most important, the fifth essential component of a lead magnet is telling people what their next step is. The next step is to work with you in some way. This can be something very easy and low risk. Sometimes you lead into another free thing. For example, they go through your lead magnet and towards the end you say, “Take this quick quiz” or “I created a special training for you.” If they move on from the lead magnet to your next step, they are telling you they are interested in what you have to offer. They are raising their hands.
The next step might be a low-priced offer. My How to Become an Amazon Bestseller could be a freebie that takes people to a $47 mini course on how to launch your book. I already know they are interested in writing a book and being successful with it. So how to launch (or re-launch) their book is a good bet as a logical next step. And it’s an easy step because $47 is not a huge financial amount to most people. If people don’t know you very well, they will pay anywhere from zero to maybe up to about $100 if they think your information is good. Give them an easy next step that is low priced. They’re qualifying themselves by saying, “Yes, I’m willing to spend money on this particular thing.” And that helps you find your better prospects.
Or, your next step might be a twenty minute strategy session or consultation with you. It’s a fantastic value for the prospective client and a very fast way for people to get to know, like, and trust you. (It’s also a quick way to determine if this is someone you want to work with.)
But you have to make it very clear what you want the person to do. You need a clear Call To Action (CTA). When you’re giving your next steps, you have to tell them not just what that next step is, but what to physically do to take that next step. “Click the button below to get How to Launch Your Book.” “Click the CALENDAR link to set up your 20 minute laser strategy session.”
I know it sounds almost silly, but studies have shown that when you explicitly tell people what to do, the percentage of people who do it goes way up. So, tell them, “Go Here.” “Put Your Name and Email Address in the Box Below.” “Click the Orange Subscribe Button.”
Think of an item that you can put in your lead magnet that will be a quick win for your prospect and then decide what you want the prospect to do after they have read or listened to your lead magnet. This will guide your call to action or CTA.
This is an excerpt from my book, More Leads, Less Work. You can find it, along with other books from the Small Business Marketing Mastery Series on Amazon.