You’ve got your content marketing up and running. You’ve got a steady stream of visitors coming to your site. You’ve got a pretty steady clip of blog comments piling up.
But there’s a problem.
Your conversion rates are way too low. You’ve got oodles of visitors coming to your site, but they’re not buying. Sure, maybe a few of them are getting in touch with you, but it’s not enough. You’ve got to crank up those numbers.
No worries though: this is where you make a lead magnet. If you already know about lead magnets, this is old stuff to you. If not, let me set the stage.
First off: the real action in selling online doesn’t come from your site. It comes from your email list. So you need to be able to build that email list.
But of course there’s a problem here, and it’s pretty obvious: people don’t love giving out their email addresses online, and they’re going to want something valuable in exchange. That’s where your lead magnet comes in.
So what is the lead magnet? A lead magnet is whatever you offer your prospects in exchange for their contact information.
It could be an eBook, a free trial period, or a free 30-minute consultation. It could be any of a wide variety of things. The point is that it’s something valuable that you’re giving away to your prospects.
Why use a lead magnet?
- It leverages reciprocity. You give your prospects something valuable and they’ll be disposed to exchange value with you.
- It establishes your authority with the prospect. This way, you don’t have to tell them you know what you’re talking about. You show them.
- It allows you to educate your prospect on the value of your products and services without the whole drama and angst of a sales presentation.
- But most importantly: it incentivizes your prospects to give you their email addresses.
A good lead magnet is part sales document and part educational piece. Writing a good lead magnet can take significant time and effort, but the results are well worth the investment.
Just like content marketing, some companies prefer to outsource the work to skilled professionals who have demonstrated an ability in the field. But if you’d like to have a crack at it yourself, I’ve got some steps together that you can follow in prepping your lead magnet.
Choose Your Topic
I’m a writer, so I’m going to assume we’re going with some kind of written informational lead magnet. This isn’t the only kind of lead magnet you could consider, but it’s the one I’ve got the most expertise and understanding in, so we’ll go with it.
(Just in case you’re interested, some other types of lead magnets include free trial offers, access to market information, etc.)
One of the classics of the lead magnet genre is the how-to guide. This is pretty intuitive, since it’s just an eBook guide that tells your prospect how to get something done.
Ideally, your how-to guide will be about something your prospect could do if they had the time or energy, but that it’s easier for them to hire your organization to do for them. (This is part of the underlying sales message of your lead magnet.)
More than likely, you’ve already got a pretty clear idea of what a good lead magnet topic would be for your organization. If not, take a minute and think of some problems your organization solves for clients who could take care of the problem for themselves, at the cost of some major inefficiency.
It shouldn’t take you long to think of something.
Write and Produce Your Lead Magnet
When you’re writing your lead magnet, remember it’s supposed to do three things:
- Add value to the prospect.
- Educate your prospect about your products or services.
- Incentivize the prospect to give you their contact information.
I don’t want to beat a dead horse, but this point is important: the lead magnet isn’t primarily a sales tool, but you want your prospect to finish reading with the distinct impression that they could do the thing, but it would be better to adopt your professional services.
You don’t necessarily want to sell them immediately, but you want them to at least imagine buying from you.
But that’s not the main goal. The main goal is to give the prospect something valuable, so he or she will be more disposed to open your sales emails and do business with you later on.
That means you want to give good information, for one thing. And for another thing, you want the copy in your lead magnet to be well-written and conversational enough that the prospect will actually want to read the thing.
You’re asking for your prospect’s time and attention here, and that’s the most valuable commodity they have. That means your lead magnet had better be good enough to deserve that attention.
Set Up Your Email List
Now that you’ve got your lead magnet produced, you want to get it up on your site where it can do you some good. If you haven’t already done so, this is the time to get your email list up and running.
Your email list is going to be the most valuable sales tool in your digital marketing efforts. It’s going to give you the chance to educate your prospects on your offerings and gradually dial in on their needs and desires.
That’s why you’re going to want an opt-in screen that’s optimized to generate as many opt-ins as possible. You want to make sure your prospect has a real incentive to give you his or her email address and open up the lines of communication.
You’re going to want to run your email list through a batch email service such as Mailchimp. Mailchimp is usually a good idea for new email marketers, because it has a free option and allows the service to grow with your list.
We’ll talk about this in more depth some other time, but you’re going to want to make sure to optimize your opt-in and rigorously iterate your sales emails on a long-term basis. (These are serious issues, but unfortunately they take us pretty far afield from this blog post.)
The important thing is that you realize email marketing is a serious commitment and it’s something that will take a lot of adjustment, especially at the beginning.
Your lead magnet is the first crucial link in the chain leading your website’s visitors from their first visit to the day they become customers or clients. The idea is simple, but the execution can vary incredibly.
Some lead magnets are brilliant pieces of writing. They’re funny, thoughtful, informative, and a joy to read. Those are the lead magnets that build goodwill with the prospect and dispose him or her to open your emails when they show up in the inbox.
Some lead magnets are awful, boring, predictable things with confusing language and useless information. They’re the kind of thing that make a prospect want to unsubscribe from your list as soon as possible.
Remember that when you’re putting together your lead magnet. This is one of the first points of contact a prospect will have with your brand.
What kind of first impression do you want to make?