4 Reasons WHY You Need a Great Lead Magnet
I want to talk today about a great lead magnet. And i’m guessing you’re here for that reason also?
This topic is obviously wide open so let’s narrow our focus a little and talk about these 5 things in particular:
- What is a Lead Magnet?
- 4 Reasons You NEED a Great Lead Magnet
- Do I Need a Lead Magnet Template?
- 8 Different Lead Magnet Types
- Create a Lead Magnet
My main focus for this blog post to be honest is point 2 which is to give you 5 reasons why you NEED a great lead magnet!
Cos I believe that you’ll get some what inspired and realise the absolute importance of doing this immediately irrespective of how you’re marketing:
- Video Marketing
- Social Media Marketing
- Youtube Marketing
Without a great lead magnet you cannot maximise your returns on these platforms and your online business will struggle with the biggest and most important thing:
Cashflow! Let’s break this down…
How can your online business struggle with cashflow from not having a lead magnet?
Well we do need to break it down and take a few steps back before we answer that question so first…
What is a Lead Magnet
A lead magnet is something you give away for free in order to get people’s email address.
A lead magnet is also known as;
- Opt in offer
- Sign Up Incentives
- Ethical Bribes
- Killer Bribes
- Irresistible Bribes
- Content Upgrades
- Free Gifts
So, what ever YOU know it as doesn’t really matter its all the same thing that different marketers have coined as their term for the same thing.
Its a way of giving something of value to someone so they will opt into your email list and you’ll find a few on this post alone 🙂
With that light being shed and now you know what a lead magnet is… how can your online business struggle with cashflow from not having a lead magnet?
The reason I bring this up, and no i’m not exaggerating, 7 and 8 figure online business owners claim that 80% of their income comes from one thing: email marketing!
Now, here’ the thing: once upon a time “Join the Newsletter” worked as a great lead magnet. But not anymore i’m sorry people want more of a reason then that to give you their email to message them and to waste their time inputting their email address in the first place.
This is WHY it must be a GREAT lead magnet!
Give something of value away that people WANT.
Something that’ll help people solve a problem that they really want to rid of.
And no it doesn’t have to be hard core 21 day video course on resolving problem X.
We’ll talk more about this later on.
For now tho, if millionaires are claiming their online businesses 80% and more comes from email marketing? And the only way you can do email marketing is by having people opt into your email list? And the only way to do that is to have a great lead magnet???… are you starting to see the power here or what?
And… with out a great lead magnet people WON’T opt into your email list and there fore you’ll miss out on 80% of your potential profits!
I’m guessing you don’t want to do that? I didn’t either when I learned this myself.
I wanna talk about this briefly though before we get into the second more meaty part of this blog post!
4 Reasons Why You NEED a Great Lead Magnet
So i’m believing that you’re seeing the value of having a great lead magnet. Or even just a lead magnet for that matter!
Honestly, its better to get SOMETHING up rather than nothing at all.
For me for example when I was told to get SOMETHING up I was scared.
I put it together, cos I knew I had to, and put it up there and within 10 days I had 7 leads! POWERFUL.
So, i’ll give you 5 reasons why you NEED a great lead magnet:
1. Great Lead Magnet’s Solve Problems
Honestly if you can do this you’re going to make money online! FACT.
What problem should you solve?
Well, it depends on your niche and your market and also your ideal customer.
Once you figure those 2 things out you’ll find some very common problems.
Then put together a video course or email course or even just a simple cheatsheet that resolves this problem!
In doing so alot of your market will be inclined to opt in which means you have leads.
Then taking them thru your autoresponder and using email marketing strategies you’ll start converting them into customers.
Solving problems will put you in the advisor role cos you’re now Known, Liked, and Trusted!
This is the most powerful position someone can get into because you can influence – when you get there DON’T abuse people! Use your power instead to guide them and help them build a successful life and business… A bit deep? I’m serious!
2. Great Lead Magnet Provides Results in Advance
As I said earlier on if you solve problems for people you’re going to make money PERIOD.
And the reason that happens, other than what i’ve mentioned above, is because you’re providing results in advance.
This is you giving an answer, solving a problem, for someone you don’t know, see how that comes off really well for you?
Now, when you can help your prospect take 1 step towards solving their problem, or 1 step TO solve their problem, you’ve got a winner!
Don’t go so far as to resolve all of their problems in 1 great lead magnet.
1 problem, 1 solution, you’re now in the ‘good books’ with your prospect and you’re on your way to building a great relationship where you can start building a successful business.
3. Great Lead Magnets Position You Properly
Going a bit deeper into the point I touched upon in point 1 a great lead magnet does position you well.
You come across as someone they know, like, and trust. You come across as the trustworthy advisor.
This is the major goal of all online marketers because of the influence you now gain on someone else.
People now know they can approach you with questions and get answers.
They know the answers you provide will be valuable.
So, when you recommend something to resolve their actual problem (like a paid one for example) they will listen to you even if they have to pay to find the solution.
4. Great Lead Magnets Provide Instant Access
A great lead magnet gives people INSTANT access to what they want.
People are looking for an answer right now its your job to provide it.
Give the people what they want!
You can do this online so easily with opt in lead building software’s like Thrive Leads.
Thats what I use and as you can tell by my site I can just about build whatever I want with this kick ass software.
Seriously I love it. For the technicalities it makes simple, and the price they ask for, this is well worth every cent!
Make the free lead magnet available immediately for people. Make it downloadable by checking the email you’ve sent them.
In doing so you’ll be conditioning people to;
- Open your emails
- Click your links in your emails and
- You deliver on your promises!
Super powerful subconscious stuff people are going thru from simply opting in for your lead magnet!
Starting to see the super powers that lie behind this simple ‘thing’? Now…
Do I Need a Lead Magnet Template?
Fact; NO YOU DON’T!
Would it help? Maybe…
We’ll dive a little further in in the next section.
But here’s the thing we overcomplicate things in our own mind!
We think we need a 21 day video course on how to solve problem X but thats just not true.
In fact it’d most likely be detrimental to your success.
I like the idea of: 1 problem 1 solution.
What was the purpose of the content i’ve put out there? What’s a problem based around that topic? How can I answer that ‘problems question’ with a lead magnet?
See how you could put together a 10-15 minute video that’d answer that problem? Thats worth opting into!
See how you could write 2 or 3 pages, which’d take less than an hour, answering that problem? Again, thats worth opting into!
Don’t over complicate it. Even when we’re going into this list…
8 Different Lead Magnet Types?
Here are 10 of the most common lead magnet types that are available online and a brief description of what they are;
- eBooks: write up a Word doc and convert to a pdf. Now you have an eBook.
- Resource Guides (e.g. Checklists, Cheatsheets, Reports) These work pretty dam good especially checklists and reports people seem to absolutely love!
- Audio Files: my 100% preference i’m not going to lie but thats because its my learning style.
- Video Training Files: I also love videos! They have a highly perceived value and people are inclined to opt in for them.
- Software Trials: i’m not a Software person to be honest but trials is smart because it gives you an insight into something that could be really helpful for your online business.
- Swipe Files: something someone is using that you can copy/model to gain the same or similar success.
- Free (but Short) Consultations: I use this myself but not necessarily for email opt in’s but rather business opportunity opt in’s however it would work well just make sure you keep it under 30 minutes!
- Email Autoresponder Series: This is also a popular give away because people who are new to the online world have no clue how to put together a good email autoresponder series.
How to Create a Lead Magnet
So with the 8 types of lead magnets i’ve mentioned above how do you go about creating a lead magnet?
C’mon you already know how to do this! Don’t discount your intelligence by asking this question.
But, let’s break it down at a simple level just to give you ideas of how to create a lead magnet;
Documents: eBooks, Guides, Checklists, Cheatsheets, Reports, Swipe Files
These are all small things that you can start with a simple document.
Start with Microsoft Word or whatever document creator you want.
When you “Save” it click on the PDF version: BOOM! You’ve just created it.
It really is that simple don’t overcomplicate this like I did ok? Leave it there…
You need a few things to do this one so its a little more complicated:
- Voice recorder software
- Audio file editor
First you put together your content just like mentioned above.
Then you record your own voice of that content.
Once you save it then be sure to edit out any “imperfections” if you will.
Click save. Done. Simple! And again lead it there 😉
This is almost the same as creating an audio lead magnet. You need these:
- Video recorder software
- Video file editor
I’d recommend you use Camtasia. I’ve used this for years and its awesome.
You can find free options if you want but whenever i’ve used them I personally have been disappointed and felt very limited.
So, put together your content just like mentioned above.
Record your screen, or yourself if you want, face videos do outperform screen capture videos.
Once you save that file open it up and edit your video and save.
Boom! You’ve just created a video you can use as a lead magnet and it has high value.
Now this one is a little more technical frankly and it does take alot of skill and time.
If you’re technically inclined this might be a great option for you.
I myself have never created a software give away and likely never will.
But to give you an idea cos I know most people are in the same boat as I am.
If you’re going to spend money on software as a give away you’ll want to make sure you understand your niche market and your ideal customer avatars of you’ll lose alot of money.
Great Lead Magnet Summary
I trust this blog post on great lead magnets was helpful to you!
I mean if it wasn’t you wouldn’t be reading this, am I right or right? I’ll wait…
So irrespective of which topic it was be sure to take advantage of the How to Create a Great Lead Magnet eBook i’ve put together for you to the left there just click on the image 😉