How To Build A Lead Magnet That Converts

Read on: gibusconsulting.com

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• List - What is a lead magnet and how to build one that gets you customers - 4 steps

(in a 5 minute read)

Most people think a lead magnet is something that attracts ‘leads’.

But that’s not quite true.

It’s something that attracts strangers and turns them into leads.

Not sure what a lead is?

This is someone who has:

→ interacted with your brand with intention

→ that you have some way of contacting (email/phone)

→ who has the potential to become a customer

So now that you know:

what a lead is ✅

what a lead magnet is ✅

Hopefully, you can see the value in creating a lead magnet.

It’s an important part of the process of turning strangers who don’t know about your business into paying customers.

So how do you create a lead magnet that doesn’t lead to the person:

• downloading the lead magnet and never consuming it

• consuming the lead magnet and doing nothing after that

The perfect lead magnet recipe has 4 parts:

1. Solves a narrow problem

2. Delivered in the optimal format

3. Relevant and is a stepping stone to a paid product

4. Shared via a landing page optimised for conversions

Here’s how you can do it ↓

1. Solves a narrow problem

The idea here is to solve a small piece of a greater problem.

So it solves a narrow problem, that once solved, opens up a new problem that is larger, wider or more expensive (should be what your paid service/product solves)

How to do it:

• Take your paid product/service (big)

• List out the smaller problems that exist within it

• Pick from that list to create your lead magnet

Example:

• Customer problem - “I have a few business ideas but I don’t know if any of them are viable”

• Lead magnet - How to validate your business idea in 5 steps - Free strategy call

• Customer has the call and solves their problem

• New problem - “I know what business idea I want to move forward with but how do I attract customers? or make sales? or build a compelling offer? or know how to price accordingly?

• My core offer (coaching) - solves a bigger problem of how to actually build and launch your business

(This is a real example from a new coaching client of mine who had been ‘working’ on their business ideas for the past 6 months and made zero progress.)

2. Delivered in the optimal format

The format of the lead magnet is critical to ensure the prospective customer actually engages, consumes and takes the necessary action afterwards.

Questions to consider:

• What stage of the buying process is the prospective customer in?

• What do they need to know?

• What is the most efficient way to deliver the information?

The example above could have been a live webinar, on-demand video or an email series. All delivering the same information I did over the strategy call.

All would work.

Two things to consider at this stage: engagement and ease of consumption

Here’s how to think about this.

• Low engagement / hard to consume - (e-books) - may get some downloads but nobody will read it

• Low engagement / easy to consume - (cheat sheets) - Likely gets lots of downloads but nobody cares after reading. low value

• High engagement / hard to consume - (webinar) - high value and engaging but time-consuming. The people that consume the whole thing are very high quality leads. Works well if you have an expensive product/service

• High engagement / easy to consume - (15 minute on-demand video) - affordable, not complex, go through quickly, high value

3. Relevant and stepping stone to paid product

There are lots of examples of seemingly ‘good’ lead magnets that are actually terrible because they don’t actually do what they’re supposed to do.

They may get strangers to give their email address but they don’t contribute to the main thing;

Help move people from stranger → paying customer

Example: Nutrition coach

Bad lead magnet - BuzzFeed-style quiz to see which athlete you’re most like (no stepping stone)

Bad lead magnet - Enter email address to enter prize draw to win free iPad (lots of emails but not relevant)

Good lead magnet - 10 tasty and healthy snacks you can buy in every major supermarket for those who want to stop eating unhealthy snacks and improve their diet (links included so that you can buy online right now)

(example above from a session I did with a nutrition coach last week)

4. Shared via an optimised landing page

Most small business owners don’t need big shiny websites. They need highly optimised landing pages.

Most websites are terrible. Way too much information. Visitors get bored. They scroll and leave.

Your job is to think about what the goal is of your page.

Is it to provide information? or is it to get the visitor to take an action.

It should be the latter.

I’ll be doing a deeper dive on this next week once my current website (not great) has been replaced by landing pages.

For now, here is a good example by Dan Go - https://www.dango.co/

1. Clear headline

2. Clear call to action - ‘Book a strategy call’

3. Clean picture

4. Newsletter - to bring you into his ecosystem where he’ll add value

5. Get coaching - where you answer qs (provide data) and book a call

6. Lean body90 - takes you to a video sales page

7. Another option to sign up to the newsletter

Conclusion

Lead magnets are essential if you want to create a system for getting clients.

You can get clients without one (speaking from personal experience).

But it’s significantly harder in the long term to build a sustainable business.

And much more work.

Who wants that?!

Other newsletters to consider:

I hope you found this helpful.

That’s all from me.

See you next week.

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