Creating A Good Lead Magnet
Creating A Good Lead Magnet
Lead magnets can be used to acquire, nurture and convert prospects into buying customers. In simplest terms, a lead magnet is a bride. It’s a free incentive given in exchange for potential customers’ email addresses. If the incentive is good enough, you could ask for even more information, such as name, address, phone number, and more. However, people put a high perceived value on their email addresses. They know that giving out their email addresses can lead to high volumes of unwanted email messages. Therefore, your lead magnets must be perceived by prospects as having an equal or greater value than their email addresses, or they won’t be willing to exchange their email addresses for your lead magnets.
A good lead magnet attracts a qualified audience of relevant consumers. Most of the lead magnets used by marketers today are forms of digital content, such as an ebook, checklist, worksheet, tutorial, template, or other lead-generating value-adds. Many of the email marketing programs you create will start with a lead magnet, but those programs will fail if you’re not offering something your target audience wants enough to give you their contact information to get it.
The good news is if you choose the right lead magnet and spread the word to the right people, your email list is guaranteed to grow. With that said, you need to understand what makes a lead magnet successful.
Good Lead Magnets Solve a Specific Problem
The best lead magnets provide useful, meaningful, or educational content quickly and clearly in a manner that is easy to digest so people can consume the content without feeling overwhelmed. Your lead magnets won’t be successful if people don’t use them. Instead, create lead magnets that do the thinking for your prospects. Don’t communicate in general terms or about broad topics. Instead, choose a laser-focused topic and provide specific details to solve the prospect’s primary problem related to that topic.
Good Lead Magnets Are Relevant
Lead magnets must be relevant to your business, products, or services as well as to your target audience, or they won’t attract qualified prospects. For example, if you own an accounting practice, then giving away an iPad as a lead magnet might not drive the best results for your business. You’ll get a lot of opt-ins for it, but how many of those leads will be interested in your accounting services? A lead magnet should fill up your funnel, but if you are filling your funnel with people who will never buy from you, you're wasting your time marketing to them.
Instead, an accounting practice would have more success attracting qualified prospects with a tax preparation checklist or a hidden tax deduction cheat sheet. Someone who is interested in tax preparation and deduction is likely to have an interest in obtaining accounting services at some point. Once the accounting practice has qualified leads on its email list, it can use email nurturing and conversion funnels to push those leads further through the overall marketing funnel until they purchase.
Good Lead Magnets Are Action-Oriented
Your lead magnets should be easy to follow and give prospects everything they need to complete a specific action or take the next step to reach the desired goal. A lead magnet that provides general information won’t be useful to your target audience. Instead, you need to do the work for your prospects.
If your lead magnet is a resource toolkit, provide links to all your recommended resources along with explanations of how and when to use them. If your lead magnet is a swipe file, make sure people know exactly how to use it immediately. If your lead magnets aren’t actionable, then they’re not specific enough and are unlikely to be perceived as delivering adequate value.
Good Lead magnets Offer High Perceived Value
The perceived value of your lead magnets is the value that prospects attach to them. Since lead magnets are usually offered for free, prospects create value for each lead magnet in their minds. This value is derived from the messages and images you use to promote each lead magnet. Remember the perceived value must exceed your prospects’ perceived value of their email addresses, or no one will want your lead magnet.
The best course of action is to always offer lead magnets that could be sold for a fee. If the content is good enough that someone would pay for it, then it should pass most prospects’ perceived value tests. That means your lead magnets should be valuable. Therefore, invest time and money to create irresistible lead magnets that are better than what everyone else is offering to your target audience. You never want prospects to be disappointed after they receive your lead magnet because they’ll project that negative experience onto other experiences with you. It means they probably won’t buy from you because they’ll expect to be disappointed based on their previous experience with your brand. A poor-quality, low-value lead magnet can do a lot of damage to your brand reputation and your business, so always plan on over-delivering.
Good Lead Magnets Are Easy To Access
Deliverability matters, so make sure your lead magnets are easy for prospects to access once they opt in by producing their email addresses. Most email marketing providers make it easy for you to set up an automation that automatically sends a message to anyone who opts in to receive your lead magnet. That means as soon as they submit their email addresses using your opt-in form, they’ll receive a message that includes your lead magnet or a link to download or access your lead magnet.
Good Lead Magnets Are Not Entirely Self-Promotional
Lead magnets should be useful, meaningful, educational, entertaining, or indirectly sales-related. They should not be directly self-promotional. How many people do you know who would trade their email addresses in exchange for an ad? As a consumer, would you make that exchange? Most people would not. In fact, most people would be angry if they were promised something useful, meaningful, educational, entertaining, or helpful and ended up getting an ad, whether or not they gave up their email addresses for it.
The purpose of a lead magnet is to build your email marketing list so you can start developing a relationship with prospects that can eventually turn into sales and brand loyalty. If you start by baiting them with something useful, then switch the deliverable with something promotional, they’re unlikely to stay on your email list for long. In fact, they might even tell their friends, family, and social media connections about their bad experiences. That kind of negative word-of-mouth can do much damage to your brand and reputation.
Therefore, it is important to think of your lead magnet as the first step to building a relationship with potential customers so they can develop trust in your brand.
That’s all for now, my friends. See you all in my next article.
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