My intent with this blog is to give you a quick and concise look at a strategy every entrepreneur should be using to generate leads and convert more clients… lead magnets. I’ll share what they are, why they are effective and how to use them to close more clients. I’ll also share the best formats and frameworks you can choose from to create a collection of your own.
What you will learn is relevant no matter where you are on your business-growth journey – just starting out or sailing past 7 figures.
What is a lead magnet?
Put simply, a lead magnet is a free item that is automatically given to prospective clients in exchange for their name and email address. Whether it’s a PDF, an audio or a video, your lead magnet gives potential clients an ‘experience’ of you so they can get a sense of who you are, what you offer and the impact of your work, product, or service.
When you have a collection of well written, professionally presented lead magnets you will increase the effectiveness of all your marketing efforts, whether it’s attending a local networking event, launching a high-ticket program or anything in between.
With a collection of well-designed Lead magnets, you will…
- Grow your list with people who are interested in what you have to say.
- Differentiate yourself in the market by demonstrating your knowledge and experience on a topic.
- Provide relevant and meaningful value by sharing information your prospective client is seeking.
- Build trust by showing you understand their challenges, concerns, hopes and aspirations.
- Begin the process of creating connections so they are open, interested and engaged.
If you are new to the concept of lead magnets, you need only Google a topic of particular interest, check out a few websites and notice what others are offering. The offer of a free item sometimes comes in the form of a pop-up, a message inviting you to download a document or an opt-in box that promises to send you something cool. Lead magnets are everywhere!
From this point forward, become a student of lead magnets by opting in, checking them out and making note of the invitations, titles and content that appeals to you.
Amplify Your Lead Magnet
It’s important to note that the impact of your lead magnet on your sales success can be greatly enhanced when you combine it with an assessment. It’s a strategy we call the “Double Win.”
At Magpai, we teach our subscribers to include in their assessment auto-responder, a special free gift as a reward for taking your assessment. We suggest this because our research shows that by combining the assessment with a well-designed lead magnet, we empower the recipient to discover the missing pieces prior to experiencing your genius and expertise through your free gift.
This combination of “awareness of the gap” and the “presenting of the solution” not only opens their hearts and minds to what’s possible, but it also positions you as the solution to the pain or discomfort they are feeling.
Why You Need a Powerful Lead Magnet
The primary reason for developing a collection of lead magnets is to have multiple ways to attract and engage potential clients who want to learn more about what you offer.
With a lead magnet you have…
- An interesting and valuable next step for clients you meet while networking
- A way to capture the information of people who visit your website
- A free gift you can offer when speaking to groups, live or online
- A value-driven way that others (referral partners) can introduce you to their network
- A value-add post in social media that helps grow your list
- A downloadable resource you can list in your blogs, articles or post online
- A cool next step you can share at the end of a podcast or interview
- A complementary gift you can include in your signature that leads to an opt in
- A next-step invitation for your LinkedIn profile
When you have a series of lead magnets you feel good about and that position you as the expert they’ve been looking for, you will power-up all your marketing efforts and experience greater success.
Once you decide to incorporate lead magnets into your marketing strategy to attract your ideal clients, you will likely wonder… what type of lead magnet should I offer. While the list is vast, there are basically two types of lead magnets.
Immediate Gratification Lead Magnets
These lead magnets are instantly downloaded after the opt-in and can be consumed in a relatively short period of time.
- Tip sheet
- Cheat Sheet
- Case Study
- Turn-key Template
- Swipe copy file
- Aptitude Assessment
- Free physical book
- Personality Assessments
- Brief Audio Training
- Brief Video Training
- Event tickets
- Guided Meditation
Deep Dive Lead Magnets
These lead magnets are longer in length and require more of your prospect’s time to consume.
- Webinar/Masterclass training
- Tool kits
- Webinar replay
- A Deep Dive Manifesto
- Masterclass replay
- 5 Day Challenge
- Free coaching session
- Deep dive bootcamp
- Training Transcript
- Book Excerpt
- Special Report
The key is that you remain open to the possibility that this maybe the missing piece that is keeping you from having a consistent stream of qualified prospects who are looking for what you offer.