What is a Lead Magnet & Why You Need One

Lead Generation

Did you know that 80-90% of the visitors to your website aren’t ready to hire you at this present moment?

What if there was a way that you could continue the conversation with those visitors, get them to know, like, and trust you, and eventually convert them into clients?

In this article, I will share with you a simple method for doing just that – it’s called a lead magnet.

What is a lead magnet?

Simply put, a lead magnet is a free piece of content or service that helps potential clients solve a real problem they are having right now. 

A lead magnet works so well because the free content or service you’re giving away is so valuable – so irresistible that visitors to your site are willing to hand over their name & email to get it.

What makes a lead magnet irresistible?

There are six keys to creating a well-performing lead magnet. 

A lead magnet must:

  1. Solve a real problem they are facing
  2. Promise a quick win (something actionable to achieve)
  3. Be super specific
  4. Attract your ideal client
  5. Be instantly accessible
  6. Demonstrate your expertise

Think about it this way: for your lead magnet to be appealing to potential clients, it must promise a specific outcome or transformation. 

What larger problem do you notice many of your clients are having before they reach out to you? Can you isolate one part of that larger problem and provide them a solution? 

Types of lead magnets

People today are bombarded with requests to sign-up for newsletters, webinars, and similar give-aways, but what seems to work?

Here are a few things that do:

Checklist or cheat sheet

These are easy to digest and are actionable. They’re also easy to create. They could be a to-do list someon could follow to complete a goal.

Think about what result you could help them achieve and simply provide the action steps needed to get them there.

Resource List / Swipe File

This could be a list of recommendations, or a curated collection of inspirational examples to help them reach a goal. 

Don’t overlook a swipe file – these can be valuable time savers for potential clients and something that can really help them.

Templates

Let’s pretend for a moment that you’re an accountant and have created several Excel templates that help you manage your client tax returns.

Why not provide one of these templates to potential clients? It will help them stay organized, save them time, and if they decide to work with you – all their information is already in the format you’re most familiar with.

5 – 10 Page Guide

This is a common lead magnet and it works really well because you’re isolating one specific problem a potential client has and providing a solution that doesn’t require them to read an entire eBook.

Guides are nice because you can include images, charts, infographics and other visual aids to help reinforce your content. 

Prospects Sign Up – Now What?

Once your potential client enters their name and email to receive your lead magnet, what happens next?

Ideally, they receive an email immediately with a link to your free content. But then what?

This is where you need to have a Welcome Email sequence in place. The email sequence is typically five emails and does several things:

  • Provides them with even more free content to help support and supplement your lead magnet
  • Introduces your business and how you help clients just like them
  • Gets them to know, like, and trust you
  • Provides them with social proof – letting them know what other clients have said about you
  • Let’s them know that your paid service can really help them solve their big problem
  • Provides them with a clear call-to-action on how to start working with you.

This five email sequence is bringing them down the funnel from awareness, to interest, to desire, to action. 

Summary

Letting 80-90% of the visitors to your website leave without attempting to capture their name & email is a lost opportunity. By implementing a lead magnet on your website, you can continue that conversation and help convert more of your visitors into paying clients.

If you’re interested in adding a lead magnet & funnel to your website, we can help. We build you a customized lead magnet, create your five-email sequence, and build you a highly converting landing page for your lead magnet to help convert more visitors into conversions.

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