So you want to build a huge email list? And you know that the way to do that is by providing something of immense value for free...
We call that a lead magnet.
Now imagine spending months putting your heart and soul into creating a lead magnet that you 'think' people will love to only find out nobody wants it...
You spend hundreds of dollars on Facebook ads, YouTube ads and organic out reach but people don't opt-in to your list and those that did unsubscribe because they didn't like what you gave them.
This is probably the worst situation us 'Digital Marketers' could find ourselves in.
So how can you guarantee that your lead magnet converts like crazy?
Well, that's exactly what I want to show you in this blog post...
I've got a little trick here that's worked absolute wonders in my business, and it will work for yours too.
The key to creating high converting lead magnets is all about giving the user an experience.
And immediate positive change in their current situation right after they opt-in.
Let’s get the ball rolling with how to create lead magnets that increase your opt-ins so you can build a successful business on email marketing that works.
What Experience Can Your Lead Magnet Give Your Audience?
The lead magnet game changer is an EXPERIENCE.
Say you’re selling a kind of service to help parents with unruly kids calm down and let go of their anxieties.
An easy to teach and no cost to you lead magnet would be a video that shows mom a surefire breathing trick that will calm her child down in 30 seconds.
See, you’re not giving them a small valueless book on the basics of child psychology, or the top 5 reasons why kids misbehave.
Think about it...
They want to help their kids (and themselves) RIGHT NOW because they don't know what to do anymore. They need you to help them!
So, you give them a breathing exercise that’s completely free of charge, and it’s something they can do in just 30 seconds.
And now they’re thinking “Wow, this guy is actually offering help for me to tame my unruly child.”
That’s where they’re at, and they want to experience first-hand the shift in their child INSTANTLY. And you’ve got to give it to them.
The real trick to an effective lead magnet is giving your audience an experience. You want to hook them in by providing solutions to their problems.
Plan, Test, and Increase Capture Page Conversions
In business, you got to try a bunch of things to eventually stumble upon what works best.
Crafting a successful lead magnet is no different.
It is a cycle of planning, testing, planning, and testing until you get the opt-in numbers for massive success.
Set yourself up with a few ideas, lay out a plan, if it converts at 15 or 20% keep it and improve it.
If you start to see numbers below that threshold then throw it away and try again.
One way to speed up this testing is with a split test. Split test headlines, offers, page layout, and copy.
If you get excellent results, awesome! But if it is not working, don’t quit, adapt.
You've got to try lots of variations...
It is really powerful when you begin to hit 40, 50% opt-ins on your lead capture pages.
When you use different variations with split testing then you'll start to see 2 to 3 times as many leads for the same amount of ad-spend.
It is worth the time and energy it will take to get to where you are tripling your leads every day, and the only way to get there is by split testing.
A Word Of Caution
Let's not split test too many things at once.
If you've been in the website and content creation space for a while then you are familiar with how A/B split testing works... You test ONE variable. Then see which has the higher success rate...
Then repeat...
Well this is all fine and well. However I'm talking about testing too many things at once - especially if you are just starting out.
Getting just one lead magnet up and running will be difficult enough. I'd discourage you from running multiple lead magnets if you are just starting out.
I know you want to test everything like a good digital marketer should, but it's going to take some time to build out the systems for one of your first lead magnets. Here's a short list of steps involved in getting your first one up and running.
- Make sure your website has the functionality to act as a funnel
- How will your website handle each email address it obtains?
- How will your website test for conversion rates?
- How will your website act as link between social media and email?
- Does your website have a fluid landing page, or is it clunky?
- Do you have Google Analytics installed?
This is why you don't want to start with two or three lead magnets at the same time. It's frankly just too much work! It's too much to think about when you create each aspect and system. Trying to create 2 or 3 separate funnels and follow up systems at the same time will slow you down.
Next, let's dive into an aspect that people don't realize the importance of. If you fail to do this next step then you can post the worlds best content, but you won't make any sales...
Establish Yourself As An Expert With Your Lead Magnet
Depending on your niche, there are probably hundreds or even thousands of people like you, competing against your business.
Establishing yourself as the authority in your niche is key to your long-term success.
“A lead magnet that brings massive long-term success is one that establishes yourself as an expert with your audience.”
Let me share with you this old-school lead capture idea that brought Eben Pagan from zero to a huge success.
Back when Eben Pagan was still doing his double your dating stuff, he was targeting guys who were trying to snag dates and desiring to get to second, third base, and so on.
This audience had tried a bunch of products without results, so they’re skeptical to spend money on anything new.
Then enter Pagan’s best capture page that hooked this audience, immediately.
The question every guy has on a first date is “Will she let me kiss her or will she snub me to my face?”
Immediately after the opt-in, you get this super cool test, for FREE, that gave the solution to this age-old male dilemma.
It’s what he called the “Kiss Test.”
You walk your date up to her door at the end of the date, say goodnight, move her hair behind her ear, paying attention to her movements.
If she leans in towards you, that’s your signal to kiss her. If she pulls away, your saved the embarrassment and don’t even think about trying to kiss her.
Guys who signed up tried this kiss test for themselves, and it worked.
What happens when they get the next email from David DeAngelo? (David DeAngelo was Eben’s pen name back then)
Open it, or delete it?
You bet they're going to open it...
In their head, they are thinking “What am I going to learn from the master this time?”
To build a long-term business, you want to first, gain trust. Once you are trusted, your selling odds increase dramatically.
The real trick to establishing that trust fast is to give an experience.
Popular Lead Magnets That Are Converting Well In 2020
Recently me and my team did a massive deep dive into social media (Facebook mainly) to see what type of ads and magnets were being used the most and for how long.
We discovered a cool lead magnet idea or two that you should probably be aware of. If you are going to create a lead magnet this year then I'd highly recommend going for one of these following options...
- An Ebook
- A Real Book
- A Master Class
- A Multi-day challenge
Let's take a look at each give away to help understand how and why these will boost your email subscribers.
eBook Lead Magnet
This is pure content!
You'll often hear fake gurus out there telling you, "Oh just take an old blog post that's preforming well and make it into an eBook."
Well... Hold on. Not so fast.
If you really want people to give up their precious contact information, you'll have make sure you go a bit deeper than that.
Blog posts that have performed well in the past are a good place to start. However, if you just take a blog post and turn it into a PDF and label it as an "eBook" then it may be a bit of a let-down to your website visitors.
Content
Sorry to say, but you're going to need to add more content. I would aim at somewhere between 10,000 and even up to 30,00 words.
Sound's crazy right?!
That is a TON of value to give someone for just there contact information.
Creating a lead generation give away has evolved in the past 5 years. Gone are the days of when you would charge someone $30 for an eBook.
Now we give away the same eBook because as a culture we have come to expect more and more value from the people we follow on social media. Let's be real here. Who's going to buy your eBook when they can get the SAME information for free on YouTube?
Therefore, you should just give it away. Think of coming to a landing page and seeing a high quality image of a 25,000 word eBook being offer for 100% free... Now that's an experience that will not only produce the best lead, but it will make sure your leads go through with your call to action.
A Real Book
If you are selling higher ticket items (at least above the $200 mark) then you'll want to consider turning a lot of your content into a real book.
That's right. Not just some downloadable thing, but a full on book.
This is typically done with a "free plush shipping" offer.
Ultimately you'll make up the cost of the difference in the shipping so you don't have to go too far into the hole. Books are already cheap to ship so if you can get them printed at a good price then you'll be well on your way to creating one of the best lead magnets out there.
Remember your product or service needs to warrant this level of dedication. If you have the time and cash to subsidize things for just a short while as your lead list grows then you should definitely consider this lead magnet.
Use what you already have...
Consider using the content you already have. This is why I've listed the "real book" after the "eBook". If you did your due diligence on the digital format then making the jump to a real book might not be that difficult.
If you have enough blog posts you can organize into some type of hierarchy for a tangible product then that can work too. All in all, if you have been adding blog post after blog post to your site then you'll find this process not so difficult. You may even be able to hire a ghostwriter to compile it all and then fill in the blanks.
If this doesn't suit you then I'd suggest looking at other ways to get someone's email address.
Masterclass Magnets
This is quickly becoming a very popular give away.
This has been known as many things in the past:
- A free video
- A prerecorded webinar
- A workshop
- A behind the scenes look
Whatever you you want to package it as, it's really just this - A VIDEO!
However, when you call it a Masterclass... It seems to have a higher perceived value than any of the others on the above list.
In our recent exploration of lead magnets on social media, my team and I discovered that a free give away of a Masterclass was working very well across a wide range of industries.
Remember, if you create one of these then keep it simple. Make sure you provide your people with high quality content or your sales process will fall flat.
Consider:
- Interviewing an expert
- Diving SUPER deep into one area of your product or service (don't sell here - just give value)
- Position yourself at the head of a table in an scripted discussion
Clearly, the style of this lead magnet can take many forms. You just need to be sure your video has these 6 things:
- An expert
- A few "ah-ha" moments for the viewer
- Quality sound
- Quality lighting
- A good pace (not so slow they loose interest, but fast enough to keep it moving)
- A promise
This last item of, "a promise" is huge. You want to tell people that they are going to accomplish something during your time with them. You want people to know that there lives will be measurably different after spending 20 minutes to an hour with you.
The perfect lead magnet of this type will also position the viewer (at the end of the video) to buy your product or service. In other words, I highly recommend putting some type of call to action at the end of your video.
Another Tip To Create Tour Masterclass
Again let's turn our attention back to your blog and those high performing blog posts.
You should already know what posts are performing the best on your blog.
They should be the ones with:
- The lowest bounce rate
- The highest session time
- The most traffic
- The most user comments
- The highest pop up conversions (you do have pop ups right?)
This is undoubtedly the topic you should use for your masterclass.
Remember, it needs to give the viewer a few ah-ha moments... And if people are already spending 4 to 8 minutes reading a blog post on your website then they'll easily fill out not just the email field of your optin, but also the name email field of your lead generation form.
Base your lead magnet idea off of a good performing blog topic and you'll be well on your way to creating worthwhile content that people will want to sign up for.
Challenges Lead Magnet
We used to call this an email course, but now things have evolved...
Once again, lead magnets are getting better and better. It's not enough to just create a 5 email series that guides people through different blog posts on your website.
Now people are expecting much more.
This is where challenges come in handy...
When you create a lead magnet that takes people on a transnational journey then you are truly providing them with an experience. And let's face it. This is what people want AND expect these days.
After website visitors begrudgingly give you their email address, you now have a responsibility to deliver content that will truly help their lives.
Free challenges are fantastic ways to keep your name in front of people for many days on end. This is one of the hidden benefits of this form of lead magnet.
While most lead magnets are delivered in one-off intervals, you will have created a full email course that directs people to daily videos.
This is perfect for those in the fitness industry
Think of things like:
- A yoga challenge
- A running challenge
- A hiking challenge
- A biking challenge
However it's not just for fitness challenges any more.
People are having success with other areas such as:
- A content creation challenge
- A vocabulary challenge (for learning languages)
- A crafting challenge
Really the possibilities are endless - you just have be a bit creative with this type of lead magnet.
Other Tips On How To Create A Dynamite Lead Magnet
Beyond just sifting through mounds of blog content there are a few other ways you'll want to consider as you create any of your chosen lead magnets.
Lead magnet ideas are not always easily seen. It will take a bit of work from both you and your team (if you have one).
Brainstorming With Customers
Ask your customers what they want and then deliver it.
That may sound too easy, but it really can be! Hopefully by now you have a small list of customers who are willing to help you.
Schedule a call or a short webinar with as many as you can and be honest. Tell them EXACTLY what you plan on doing. Tell your people you plan to create a new free piece of content for building your email list.
Your customers will LOVE the interaction with you and be humbled that you value their input as well. You don't need to use all of their lead magnet ideas, but you'll for SURE gain some insight as to what would work well.
At the very least you'll get a few cool ideas to use for content or a new website post.
Social Posts Leave Clues
Have you ever had one social post that came out of nowhere and just killed it?
You know... Posts that some how got tons of:
- Comments
- Likes
- Reactions
- Shares
That's your audience telling you the type of content they like (and potentially) would be willing to give their email address for.
Granted you can't just offer people a downloadable high-resolution image of your Instagram post... But you will at least have a topic starting point.
As yourself:
- "What part of this successful content can I use?"
- "What part of this post was the real gem or winner?"
Think about the mental process someone went through each time they hit that "share" button. Why did they take time out of their busy day to interact with your post?
Again, it's all about finding that jumping off point when building your lead magnets.
Open Up The Flood Gates (Briefly)
Can you offer a portion of your email list a free trial?
Send an email to a few hundred or so highly engaged leads on your mailing list explaining you are offering a free trial for your website or service in exchange for taking a survey.
Your goal here is to discover which of your existing assets you could turn into worthwhile lead magnets.
As the free trial comes to an end, ask your trial members what they like the most and what portions of your content they wanted more of! This will be the perfect ammunition you'll use to craft explosively successful lead magnets.
Now that you have a few ideas on how to create some quality lead magnets, Let's look briefly at an overall framework.
A Framework To Help You Create Your Lead Magnet Fast!
In addition to giving your users a great experience, your lead magnet needs to help your audience take a step towards their ultimate goal of solving their big problem.
Now this step they take with your lead magnet is usually going to lead them down their path closer to wanting to purchase your full product, membership or your services.
Keeping the greater 'picture' in mind of your overall customer's journey is key when creating your lead magnet so it can support your greater business plan.
This video below shows the framework I use and recommend using for creating your lead magnets and even your online courses...
You will see how your course and lead magnet topics can appear from using this framework just one time.
Check it out, now:
If you'd prefer to listen to this content from the video above, play it or download it from the podcast episode below.
I've used this framework successfully for everything from courses on my wife's site, to my current lead magnet, even for the powerpoint presentations for the public speaking gigs I've landed!
Trust in the process on this one... Draw out that framework whether in your notebook or on your whiteboard and you will be amazed at what you create!
A Quick Word About Your Landing Page
Having a quality landing page is just as Important as how you choose to create your freebie.
You may have discovered exactly what your target market wants, but if the landing page they come to is confusing, you're going to find creating lead traffic was a total waste of money.
You'd be surprised at how simple it is to create a successful squeeze page that converts well.
Like, really simple...
You're going to want to start VERY basic and work up from there.
Keep the majority of your copy above the fold.
Here's a short check list for you to use.
- Headline
- A sub headline
- 3 bullet points that shows benefits
- An image of your product
- A call to action button form (name email subscribe)
Yup... that's it.
You don't want to start with 50 testimonials.
You don't want to have a lead squeeze page that's 2000 words.
You really don't want to offer them any other options. (No links to other places like your home page or other products)
Keep things simple and to the point. You wan't people to fill out the form and move on to the next screen. Don't allow them to mess with other options.
The Long-Term Asset That Begins With Your Lead Magnet
Okay, so now you’ve got subscribers. Woo-hoo!
Then what?
Next up is to turn them into customers.
"Your lead magnets ultimate goal is to build a customer list."
One way to do this is with a simple affiliate marketing funnel.
But you don’t want to stop at just having a list of subscribers.
You need to turn these subscribers into lifelong fans, and you do that through email marketing.
Gary Vaynerchuk calls it the jab, jab, jab, right hook method. I use the words give, give, ask but it is the same idea.
For example.
Email number one “giving” another experience, more help to your audience. Email two another help to them, then email number three or four an offer that some of your audience will want to purchase.
Rinse and repeat with new “gives” and different offers, or the same offer presented a different way.
This is how you build a business that will pay you for life. You ALWAYS want to provide value first.
Engaging an audience through helpful information and after every fourth, fifth, or sixth jab (give), you offer them something else.
Over time you start to establish an audience that knows, likes, and trusts you that you can offer your products, your courses, affiliate products, affiliate courses to, ongoing.
That’s the power in choosing to build your list and its long-term value. And best of all - you own that list!
Here is an in-depth post on successful email marketing.
Remember, if you are really serious about growing an online business and changing your life for good, then you should check out my free course that reveals the 7 step process that took me from $50,000 in student loan debt to a million dollar business online.
A Successful Business Starting With Your Lead Magnet
If you'd prefer to listen to this content from the video above, play it or download it from the podcast episode below.
Turning traffic into customers is tough to dial in, but once you do, the returns from that effort are incredibly rewarding.
Over time optimizing these lead pages you can see opt-in percentages at 40 or 50 percent.
But those numbers only come from a lot of trial and error.
A successful opt-in starting percentage is 15-20%.
Dialing in your lead magnet you use and the opt-in variations you use can earn you double or even triple the leads from the same amount of traffic. That is why creating a high-converting lead magnet needs to be one of your highest priorities.
When you are paying for traffic with ads or getting “free” traffic from search results, they are effectively gone if you do not get them on your email list, an optimized lead magnet will capture 40-50% of this traffic.
Then treat that email list like gold with effective email marketing, and you have a business built on an asset that no Google update or ad platform change of service can take from you.
Give them an experience of you and your expertise, and they will want to open every email that you send and buy every product that you offer or recommend.
Don't forget, if you are really serious about growing an online business and changing your life for good, then you should check out my free course that reveals the 7 step process that took me from $50,000 in student loan debt to a million dollar business online.