If you’re an online business owner, you’ve undoubtedly heard of the infamous “Lead Magnet.”
A magical PDF that magnetizes your lead generation efforts by pulling in an endless stream of clients eager to throw money at you.
For most digital CEO’s, the reality isn’t so impressive. Lead Magnets can be an enormous waste of time and money. It’s especially true if you’re hiring a copywriter (like myself) or graphic designer to help create it. But when done the right way? They can become a powerhouse fueling an endless stream of leads to your online offering or coaching services.
So what is it exactly? A lead magnet is something of value that is offered to potential buyers in exchange for their email address or other contact information. Lead magnets usually offer a piece of downloadable content, such as a free PDF checklist, audit, report, eBook, whitepaper, video, calculator, etc.
IMO, understanding the strategy behind a rock-solid Lead Magnet is a foundational piece of Marketing 101. It’s also one of the hot topics my clients and I chat about when they grab one of my action-packed, zero-fluff strategy calls.
So without further ado, let’s dive into my top 5 tips for generating more leads with your Lead Magnet.
Tip 1: Begin with the End in Mind
By the time clients reach me, many already have a lead magnet in place. That’s not the problem. The PROBLEM is their reasoning behind the lead magnet’s topic. Typically, online business owners pick the topic they feel most comfortable with, what they enjoy writing about, or what they think their audience needs (not wants).
This reasoning can make creating the lead magnet less daunting, but that doesn’t always translate into effective. The criteria for selecting a topic should NOT be what’s enjoyable, but what will move your prospect down your sales funnel. Ask yourself, what topic will be valuable enough to make my prospect want to share his email AND make him more receptive to my offer?
If you’re scratching your head wondering, “What *do* I want my prospect to do next?” or “Receptive to what offer?” you need to stop right now. Creating a rock-solid sales funnel should be your priority – not a lead magnet.
If you need help, click here. If not, just remember the goal of the funnel is to move your audience through the customer awareness stages. If successful, you’ll take your audience from Unexplained Discomfort in {your niche} > “OMG, this incredibly smart and trustworthy person has the exact solution I’m looking for!”
NOTE: Each step in your marketing should have only one goal. Getting an email, pitching your coaching sessions, and sharing a discount to your online course beta launch is NOT one goal. It’s self-sabotaging.
Tip 2: Don’t Pitch a Solution When There is NO PROBLEM.
This tip piggy-backs on the first one and is one of the BIGGEST mistakes I see online business owners make with their messaging. Additionally, if you’ve been losing money on paid ads, you’ll want to pay extra close attention! Don’t assume that because you “targeted” a prospect that they are aware they have a problem.
For example, let’s say you have an online course that helps people balance their gut health and fight candida overgrowth.
You might be tempted to create a lead magnet titled:
“Say Goodbye to Candida and Reclaim Your Gut Health in Just 7 Days”
The issue with that title is the majority of your audience may not be aware they even have a problem with Candida. All they know is that they crave sugar, feel bloated after drinking beer, and have struggled with nail fungus for years. There is a HUGE disconnect with your messaging that’s preventing them from taking action. It’s way too easy to see that headline and shrug it off as “this has nothing to do with me.” Never assume your audience knows they have a problem – the burden is on YOU to make them aware.
To be effective, your messaging has to connect the dots taking them from “oh yeah, I have noticed I do ____, ____, and ____.” to “Wow! That’s what it’s called?! It describes my discomfort perfectly, THIS is the problem I have! I wonder if he/she can help me??”
A better title would be:
“Say Goodbye to Sugar Cravings and Bloating in Just 7 Days with Our Total Gut Balance Program”
It addresses the vague discomfort they’re experiencing and introduces it as a problem. The next step in the sales funnel will be communicating to the prospect that you are the expert to solve that problem.
Tip 3: Stop Expecting Your Lead Magnet to Do ALL the work
I hate to be a “Debbie Downer” here, but the harsh reality is the majority of prospects who opt-in to receive your killer Lead Magnet will not even read it. Yep, you heard me right. I’m guilty of opting in to receive reports I’ve never opened, and I’m sure you are too! It happens. The sooner you come to terms with that reality and act accordingly, the better.
The goal of the Lead Magnet is to get your prospect’s email, NOT make the sale for you.
Once you get that email, that’s when the real fun begins! The next phase in your sales funnel is an email sequence that warms the lead and reinforces the value you provide.
A possible four email series flow might look like this:
- Reiterate you “get them” and understand their concerns. Use their exact language and highlight pain points.
- Hint that their issues are even more troubling than they realize – and need to be addressed urgently.
- It’s okay and not their fault. You’ve helped other people just like them solve their problem and your solution is perfect for them too!
- At this point, you’ve established trust, created a sense of urgency, proven your expertise with case studies, and helped them envision a future without ____ problem. Now it’s finally time to pitch your offer and ask for the sale.
Tip 4: Stop Trying to Be the Hero
When it comes to being a thought leader and expert in your field, you need to walk a fine line between being aspirational and annoying. If you catch yourself starting each sentence with “I” and the majority of your sales page is focused on YOUR story (not the story of your happily transformed clients), there’s a good chance you’ve wandered into annoying territory.
If you want to help others AND make money in the process, strive to make your prospects the HERO in their own story. Your messaging should inspire and empower them to realize their potential – with your product obviously!
Sure, you can be aspirational and share your story of “lost to found” as part of your origin story. It can also reinforce the big “Why” behind your offering, but be wary of letting it dominate the conversations you have with potential prospects. Nobody likes a braggart.
Tip 5: Have a Solid Re-Targeting Strategy in Place
As an online business owner and digital CEO, lead generation is the lifeblood of your business. You must squeeze all the juicy goodness out of every lead that wanders into your sales funnel. We’ve made sure there’s a compelling email series in place in case they don’t read the Lead Magnet, but what if they don’t read the emails? Or what if they end up in the dreaded “Spam” folder?
A solid re-targeting strategy will help you reach leads that get lost or need an extra push as they move through your sales funnel. While there are several ways to accomplish this, the easiest and most common is utilizing a Facebook/Instagram advertising re-targeting campaign. Assuming you have your pixel installed, once a lead lands on your page they’ll be “cookied.” You’ll then be able to deliver ads directly to them to drive more conversions.
Since these leads have now been “warmed up” and are problem aware, you’ll want to go straight into messaging that focuses on you and your unique solution. Ad creatives that focus on social proof such as client testimonial videos, press mentions, or even awards/recognition are all highly effective.