Hook, freebie, ethical bribe, lead magnet… it is known by many things. Regardless of the name, the concept holds the key to growing you a sustainable, long term business.
So What Is A Lead Magnet?
A lead magnet is a very clever tool. You give something of value to a potential client in exchange for their email address. They join your email database and you give them something free (and of value) in return.
Now this something free can’t be any old thing. People are becoming more and more cautious about handing over their email addresses. On a daily basis you can receive hundreds of emails to your inbox. So to add another to that list of emails you already receive, it has to be really worth your while.
Lead Magnets can be anything that your clients will find useful. It could be a PDF how to guide, an email challenge, a quiz, a short course, a checklist, a video guide, a discount to spend at your store, a printable, or anything else that you can think of that would be of value to your target market.
It is important that your lead magnet relates to your business and is a logical starting step for the relationship with your client. Ultimately, you want them to become a paying client so don’t give them a freebie on horses if you really sell crayons. The content in your lead magnet should be worth paying for. Give your potential clients enough value so they can see you know your stuff, but not so much that you have nothing left to give.
What Does a Lead Magnet Do?
A lead magnet is the first real impression you give to your potential clients. It is the first time that they really get to see your business content, so make sure it impresses them. If your freebie is not well thought out, or has very little valuable information then your reader is likely to delete it without a second thought – closing the door on the opportunity to work with them.
The hook is designed to make those potential clients want to work with you, so treat it as an opportunity to impress and inform them.
When people sign up to receive your ethical bribe, they also join your email list. This means that you have the opportunity to market your services to them again and again with a regular newsletter. They may not be ready to buy from you just yet, but if you keep drip feeding them useful information, when they are ready you will be at the front of their mind.
What Should a Lead Magnet Be?
There are 5 key points to consider when creating your lead magnet
- It must be of value to your target market
- You should solve a problem for your potential clients
- It should take too long to consume – ideally only 5-10 minutes
- Visually it should look good and be consistent with your branding
- It should leave them wanting more
Don’t think of your lead magnet as giving something away for free, think of it as an opportunity to work with some amazing new clients. Providing a lead magnet, and then directing your potential clients down a sales funnel is a great way to grow your business.
Do you have a lead magnet in place for your business? If not, I challenge you to have one prepared in the next month. Let me know how you got on with your task in the comments below.