Lead magnet, freebie, opt-in — they’re all the same thing! But if you’re still not sure what I’m talking about, no worries. Here’s the skinny on lead magnets and whether or not you need one.
Lead Magnet 101
The basic premise behind a lead magnet is to attract people to sign up on your mailing list. When you’re cruisin’ through the interweb and you land on a website that you just LOVE, you might see a pop-up that says, “Grab My Free Guide To Amazing Super Cool Stuff!” that prompts you to fork over your email address and boom – you’re on their email list.
Example Lead Magnets
“Sign up to get 10% off your next order.”
“Get Your Free Guide to A Clutter Free Life!”
“10 Steps To A Clean Home”
Lead Magnet Formats
A lead magnet can be almost anything. You could send subscribers a simple one-page PDF with a list of tips on cutting clutter. Or maybe it’s a video on how to set up an organizing system for children’s (never-ending) artwork. There are quiz lead magnets, coupon lead magnets, tutorial lead magnets, template lead magnets. . . you get the idea. The internet is your oyster!
The Most Important Part of Your Lead Magnet
Your lead magnet has to be something that YOUR people want. If you sell luxury products, you don’t want your freebie to be “5 Ways to Get Things Super Cheap!” Alternatively, if you’re audience is comprised of moms who are trying to be fiscally responsible at home, you probably DON’T want to go with, “Where to Find the Finest Luxury Goods. Expensive, but SO worth the investment!”
NO. Don’t do that!
Instead, sit down and think about what your people REALLY want. And then figure out how to give them a bite-sized free snippet of that transformation. It needs to be valuable enough that they feel like they’ve gotten a check-mark in the WIN category, while not giving away the store.
If they want to get their home organized once and for all, offer them your “5 Step Process to Clear the Clutter in Any Space” or your “Free Video Tutorial on Organizing Your Fridge.”
These are just ideas I’m spitballing here, so the important thing is to DO THE WORK of figuring out what your people want. And remember, you can always ask them! Ask past clients what they would have found incredibly useful before they knew you and you’ll get a load of great information.
Do I Need a Lead Magnet?
The only person who really knows the answer to this is, well, you! It really depends on what kind of business you’re growing. If you have no use whatsoever for a mailing list, then you may not need one. Or if the idea of email marketing gives you the willies (even if you hire it out to a fabulous copywriter who will do it for you), then it’s probably not for you.
If you want to grow your email list, however, and begin some pretty significant email marketing (which Forbes says has a $42 ROI for every $1 spent, by the way) then it’s probably a pretty good idea.
What’s The Next Step After a Lead Magnet?
Well, I’m going to tell you! Stay tuned as I continue breaking down the various elements of your sales funnel (lead magnet, landing page, thank you page, email sequence, & sales page– whew!) and how you can create one for your business. More to come!