Why You Must Create A Quality Lead Magnet If You Want To Build Your List
Marketing strategies continually change as more and more people are getting used to the whole “Subscribe To List” thing.
That’s why if you’re still marketing like it’s 1998 … you are literally throwing money away!
What You Will Discover
- Why using the old method of list building simply doesn’t work
- How to build your list the correct way
- How to create a lead magnet that leads love
- The different types of lead magnets
- How to implement it to its fullest
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[su_heading size=”24″ margin=”40″]This is how you build your list the WRONG way[/su_heading]
Even though you will often hear me say that there is no right or wrong way when it comes to internet marketing, there is unfortunately a wrong way of approaching list building. Let me break down what most marketers will do when it comes to building their list.
- They have a boring message like “Subscribe To Our Newsletter”.
- This is NOT attractive and if you are doing this, please STOP! You’re literally leaving a lot of potential leads behind.
- They give away something that has absolutely NO VALUE!
- Yes, you may get some leads doing things this way, but let me tell you straight up that the quality of those leads is very poor. Think about it? After they subscribe to your list and go through the junk you are giving away, the next logical action is to unsubscribe, isn’t it?
- Selling hype in their emails and redirecting them straight to the sales page after they opt-in.
- Let’s just say that this method is NOT entirely wrong, but if you have the option of doing this, I highly recommend you don’t (unless you are very experienced and know your market really well)!
- The reason for this is because you’re not really giving anything away and if the sales video SUCKS, you have lost all trust and in your lead’s eyes, you’re just another typical marketer. In other words, you won’t be able to distinguish yourself from the crowd. That’s why I always recommend you prepare something to give away in your first email to quickly gain that trust back.
[su_heading size=”24″ margin=”40″]This is how you build your list the RIGHT way[/su_heading]
So, if none of the above is the right way to build your list, what is?
What you want to do is offer a quality lead magnet.
What is a lead magnet? Good question![su_quote]”A lead magnet is really just a bribe we are giving away in return for the prospect’s name, email address, phone number and so on.”[/su_quote]
What? Isn’t that the same as giving something away something for FREE?
Correct. But at the same time, no!
Let me explain.
Say you are giving away a free report on ‘How To Make Money’. If you’re running Facebook ads and your target audience are people, who are interested in weight-loss, what do you think will happen? Literally NOTHING!
This is because your target audience is not MAGNETISED to your ethical bribe. You’re still giving something away for free, but it’s NOT a lead magnet to your audience.
The purpose of your lead magnet is to make them feel like they need what you’re giving away.
Which of the following examples is the stronger lead magnet?
“Free report reveals how you can make money online”
“Free report reveals 3 simple strategies to make your first online commission”
This goes without saying, right? Of course the second one… WHY?
Well, because we are more attracted to what the second lead magnet has to offer. It is more specific.
Don’t get me wrong, the information can literally be the same, but how you position your bribe, decides whether it will be a quality lead magnet or just another freebie.
Hope all of this makes sense, because I know I was so confused when I first heard of a lead magnet.
So the next question is…
[su_heading size=”24″ margin=”40″]How Do We Create A Quality Lead Magnet? [/su_heading]
This is a lot simpler than you think.
There are actually 3 steps in the process and if you skip any of them, you are doing it wrong! 🙂
- You need to know what information your market is looking for.
- What are their struggles, desire, pain and so on? I highly recommend you read ‘In-Depth Market Research‘.
- You need to create a lead magnet that is of high quality and contains the information you found in step 1.
- So let’s use the acne niche for example. There are lots of searches on Google such as ‘what’s the best cream for acne’, ‘how to wash face correctly’, or ‘how to pop pimples to remove all pus’. There are literally gazillion more search queries!
- Simply provide your prospects with the information they are looking for and use it as a lead magnet. For instance, “Discover Top 5 Face Washing Techniques To Reduce Pimples”. I hope you get the point. 🙂
- The last step is to use a strong hook and attack them.
- It might sound harsh, but as marketers, that’s what we do. Using the example I used above about face washing, imagine if I had written something along the lines of “Free report that shows you how to wash your face properly” OR “Learn how to wash your face the correct way”. As you can see, prospects will NOT get hooked by the information we are giving away. Instead, we might say something like ‘Discover proven techniques to wash your face and reduce pimples”. Hope You get the gist, otherwise read my copywriting post.
- Always remember that our our bribe needs to become a “Magnet” to our leads, hence (I’m sure you guessed it), it’s called a Lead Magnet [su_animate type=”bounceInLeft” duration=”4″](haha)[/su_animate]
Once you have completed step 1 and got all the information you need to know, the next step is to actually create the lead magnet, right?
The question now is: How do we deliver the information to our prospects?
Let’s just say there are no right or wrong answers.
It all depends on your niche and your target audience.
I’m sure by now, you’ve read 1,000 reports or watched “Free Training Videos”, which turned out to be sales pages or sales videos, right?
People within the internet marketing industry are used to seeing these. In fact, they have grown very sick and tired of it! So, what you want to do is change things up a little.
Andy and I used our “Six Figure Affiliate Marketing Blueprint” as our lead magnet and it’s working like gang busters! Imagine if we had a “Free Report” or “Free video”, it wouldn’t work so well.
That’s why you really need to do your proper market research and you must know how your market responds to different formats. Of course, you could test out different formats and then conclude what is best for your market.
That being said, here are some common and popular lead magnets that you can create:
- Free ebook or report
- Free video training (Actual training video and NOT the sales video)
- Case studies (Converts quite well for IM niche, because they can see us actually doing what we teach and it’s a lot easier to build trust with our leads)
- Software (Anti-Virus programs for example)
- Cheat Sheet (Very useful and converts very well if you can target the right audience)
- Webinars (This is similar to video training but has a higher perceived value)
These are just some examples of lead magnets that are most commonly used when marketing on the internet.
There’s a lot of other lead magnet strategies used in offline businesses. Some examples are:
- Free food (This is where they will give you a small sample of what they are selling. After you try it out, next comes the “Ninja Pitch”. Works very well!)
- Free Consultation (Some professional services are willing to give you free consultations, because they know there’s a high chance you will become a customer.)
- So on and so forth 🙂
As you can see, if you don’t have a lead magnet to attract your audience, you are literally leaving so much money on the table.
To finish up the post, let’s answer the last and most obvious question:
[su_heading size=”24″ margin=”40″]Why do we need a lead magnet? [/su_heading]
Let’s just jump straight into it!
- Ability to build a quality list
- A lot easier to sell because there’s a trust factor
- Conversion will increase because you’re giving something that your prospects wants and needs. Make sure the hook is strong and effective!
- Lastly, it positions you as an authority which will ultimately result in more sales which means more $$$.
That’s it! I hope you enjoyed the read and see the importance of a lead magnet.
Just before I end the post I want to leave you with some tips 🙂
- Make sure the information you’re giving away is specific (e.g. “3 Free Paleo Diet Recipes” as opposed to “Free Recipe Book”)
- The content needs to be easy to digest (e.g. 100 page report vs a 12 page report) Just give them what you promise and that’s it!
- Make sure it’s of high quality and not some junk! (Goes without saying really!)
- If possible, make it unique! It always pays off, trust me!
- Ninja Tip: If your lead perceives your lead magnet as higher quality than a previous product they have purchased… You’re in for the long haul 🙂
OK! My hands are getting tired so I better end it here! 😛
If you have any cool tips or information that I missed, please do share! I’d appreciate it heaps!