In today’s blog post, we will be exploring the next part of the Lead Funnel Formula – Lead Magnets. This formula was introduced to you in the Skill Up Saturday blog post on the 8th April 2023- part of this quarter’s theme ‘Consistent Cash Flow’ where the content will be focussed on helping you generate more cash flow, more leads, more sales and more profits in your business.
So, what is a lead magnet?
A lead magnet is a marketing term for a free item or service that is given away for the purpose of gathering contact details from a prospective buyer; for example, lead magnets can be trial subscriptions, website graders, internet speed tests, scorecards, eBooks, samples, white papers, e- newsletters, and free consultations etc. Marketers use lead magnets to create sales leads which (if nurtured over time and solve the problems for the prospective buyer) can lead to a sale. One of the problems facing time-poor business owners though is these magnets can take a lot of time and energy to produce. Podcasts, e-learning courses, video series, and contests all sound great – but who has time to create them all?
So, how can you create a lead magnet?
- Figure out who your ideal customer is and what they want.
The goal of a lead magnet is to offer something your audience wants in exchange for their contact information. To do this, you have to know what avatar you’re targeting and what offer would entice them.
- Create, design, and name your lead magnet.
Now that you know what your offer will be, it’s time to get your designer hat on! You have to create and design your lead magnet. If you don’t have an in-house designer, you can use a brilliant tool we have showcased in Techday Thursday – Canva. This tool offers hundreds of templates that you can customise to build your lead magnet, everything from books and presentation slides to worksheets and reports, plus all the social media image sizes too!
- Build your conversion sequence.
The next step is building your conversion path, which must include your landing page, thank-you page, form, and email sequence.
Starting with your landing page, there are a few best practices to improve conversions:
- Have a dedicated landing page that doesn’t include a navigation bar. This will keep users’ focus on your offer and not the other pages on your website.
- Write a clear Call To Action (CTA). Your CTA should be clear, short, and to the point. It should also use words that will appeal most to your audience.
- Consider eye scanning patterns. Users in Western cultures typically follow F- and Z- reading patterns, which is why most landing pages are designed with key elements placed in those zones.
- Add social proof. Adding reviews and testimonials to your landing pages adds credibility to your offer and can increase your conversion rate. On your form, the two pieces of information you’ll want to include are name and email.
- Set a schedule to update regularly.
Depending on the type of lead magnet you create, you may need to update it every six months to a year.
At the end of the day, the key is to gather contact information, keep them interested in your business with valuable information, samples etc and make the next step to buy from you so irresistible that the selling is already done for you.
What lead magnets are you using?
Do you need help in building some?
Let our Team know if you are and we can get you on the right path to a consistent bunch of warm leads for your business.
Have a great day!
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