You may have heard about list building and people saying ‘the money is in the list’. Having a great customer list is apparently the closest you can get to that most sought after position where you can press a button and the money starts rolling in. Sounds good doesn’t it? But how do you get a list like that?
Well, as with most things it takes time and effort. The people who can credit themselves with having the most targeted and profitable lists have spent a long time and a lot of hard work growing their list. It doesn’t happen over night but you have to start somewhere right? That somewhere is the ‘lead magnet’.
This is what todays post is about. We will go through what a lead magnet is, how they can help you to grow a profitable list and how to go about creating one.
What is a lead magnet?
A lead magnet is essentially something of value which you give away in exchange for personal information. Generally a name and email address. It needs to provide your potential customer with something they want or something they will find helpful. It has to be worth them giving you their email address.
The good thing about a lead magnet is that you can create it so that it targets the type of customers you’re looking for. If you’re in the make money online niche, create something related to this. You will then attract people who have an interest in this and want to learn about it. This will allow you to grow a niche customer list which is the most profitable kind; ca-ching! You don’t have to be in the make money online niche, this system works for any niche. Just take a look at some of the interests you have, if you visit a website related to that topic, there will more than likely be an option for you to put in your email address and get some information on that subject in return.
How do I make a lead magnet?
A lead magnet can come in a variety of different forms. Knowing your customers and their needs can help you to decide. For example if you’re in the physical product niche, you could offer free shipping to people who sign up for it. You will find that most lead magnets come in digital form as we live in the digital age. They are usually one of the following; eBook, report, MP3 or a video. Whilst they can provide any kind of information, they do have to provide something specific and related to your niche. Lets take a look at some at some examples;
Below is a screen shot of a lead magnet in the making money on line niche. You provide your name and email and you get a video about how to make money online. The ‘million dollar formula’ part makes it intriguing and makes people want to find out more. It is targeted at a specific audience who want to know how to make money online.
Below is another example in the health and nutrition niche. As with the making money online niche, this is large niche which can cover a variety of different topics. Here they have chosen to provide a video course, and this time the subject matter has been narrowed down to something really specific; a low carb, high fat diet. You will also get access to their weekly news letter by signing up, which could be a lead magnet on its own.
Both of the examples here have used video as their lead magnet. If you’re just starting out, a video might seem a bit specialist or a bit daunting. Videos are actually pretty easy to make and are a very effective tool to have in your make money online tool kit. It is something I am currently learning about and getting my head around and a subject area that I will cover in the future. Fortunately for now though, lead magnets also come in the form of reports or eBooks, which are very easy to make and lot less scary!
If you take a look a the example below, you can see here an eBook is the lead magnet. The title is intriguing and makes you think ‘I want a piece of that!’ Other ideas for written lead magnets that work well are case studies, check lists, and templates. You can be as creative as you want. The most important thing to remember when creating a lead magnet is to focus the subject in relation to the type of customers you want to build your list around.
Lead magnets do not have to be lengthy detailed pieces of work. Research actually indicates that lead magnets that are short, concise and to the point are much more effective that pages and pages of blah. The more specific you can make your subject, the more conversions you’re likely to get.
Whatever it is you are offering in your lead magnet, you have to make sure you deliver. For example if you’re promising a blueprint on how to make a million bucks in 24 hours, chances are your customers are going to be disappointed. This will lead them to believe you’re full of $&*% and they will probably unsubscribe from your list the first chance they get.
You don’t need to spend ages designing and researching your lead magnet. Just make it specific and valuable. Get it created and get people signing up to it, you can always tweak it from time to time to see if different words, sentences or subjects make any difference. You may have done this already, if you have let me know what worked for you, or let me know which format you prefer to receive information in. I look forward to hearing from you.
Bye for now 🙂