A lead magnet is a piece of value that you offer in exchange for a prospects information, usually in the form of their name and email address via a capture page.
Majority of marketers lead magnet’s are empty in terms of the value they deliver.
Typically there are three conversion selling methods that marketers will implement:
1. Amateur Marketers:
- Sending traffic (people) directly to your offer for your prospect to buy.
There is no lead magnet present in this method.
There has been no value given to the prospect, they have simply been shown an offer immediately.
2. Typical Marketers:
- Sending traffic to your generic capture page
- To your offer for your prospect to buy.
Generic capture pages can convert extremely well if the person within the company that created it has optimized it for high conversions.
If you want to position yourself head and shoulders above your competition, a generic capture page would not be your best method.
Thousands of other marketers have access to the same capture page as you which means that there is a high possibility that your prospect may have seen it before.
Once your interested prospect has given you their information if you send them straight to your sales video, which is your offer, technically you haven’t given your prospect a piece of value they can take away with them that solves their problem.
You haven’t served them, you haven’t helped them, in their eyes you are just asking them to buy.
3. Professional Marketers:
- Sending traffic to a custom capture page
- To a high value lead magnet that solves your prospects problem
- To your offer for your prospect to buy
You simply want to ALLOW prospects to become your customers.
Upon creating a custom capture page that follows the formula of:
- Lead Magnet
- Call To Action
…you are positioning yourself head and shoulders above your competition because you have created something that is different, unique, personalized to you and your brand, ultimately maximizing your lead generation.
Customized capture pages also allow for you to optimize at your own discretion.
Testing and tweaking until you have maximized the number of targeted leads you are getting to your offer.
Your valuable lead magnet needs to be:
- Has a memorable name that grabs your audience’s attention
- Solves a specific problem with a specific solution for a specific prospect target audience
- Speaks to the desired end result for your prospect
- Quickly and easily consumed
- Creates a positive expectancy “I can see how I can do that too!”
- Has enormous high perceived value
- Creates an “Aha” moment for your prospect
I used to rack my brains figuring out what type of lead magnet would convert best for my business model.
Can you relate?
Check out these 9 diverse types of lead magnets that will help you choose which is the right piece of value to share with your target audience for your business:
1. REPORT OR GUIDE
A report or guide is typically the most common form of a lead magnet.
Because it works.
However, it only works if it is created effectively with a specific intention to solve your prospects problem.
Stay focused on the objective without getting side tracked on a different topic.
It is seen as the ‘view’ of a particular piece of information, which you give to prospects who are interested in receiving it.
EXAMPLE: Maverix Lifestyles
2. HAND OUT OR CHEAT SHEET
A hand out or cheat sheet can be anything in the form of a:
- Mind map
Once again this type of lead magnet needs to be very specific and usually anywhere between 1-5 pages maximum.
A hand out or cheat sheet creates a different feel to a guide or report.
People love to get their hands on the short cut answer to their problems.
Feeling like they have the upper hand, being shown the special secret way to get the job done so to speak.
3. RESOURCE LIST OR TOOL KIT
This is a fantastic lead magnet for Network Marketers / Affiliate Marketers.
It is a very useful lead magnet that clearly gives exact information on the exact tools and or resources required to create a specific result.
This can lead into a webinar training demonstration where you sell your affiliate tools.
4. VIDEO TRAINING
This particular lead magnet is an extremely powerful pre sell when implemented correctly.
It delivers to your prospect through specific pre framing, resulting in a higher quality lead as they are already pre sold.
A video series or launch style journey is another powerful form with a ton of value that your prospect is exposed to, typically for the duration of no more than 10 days.
The reciprocity mental trigger kicks into full gear when implementing this method due to the enormous value given over time.
EXAMPLE: Inside The Minds
5. TRIAL OR SOFTWARE DOWNLOAD
Typically a trial is known as a trip wire where your prospect has access to something for a certain amount of time for free or for a very small low cost usually between $4 – $9 depending on the cost of your actually product.
A software download is typically used by software companies.
6. FREE SHIPPING OR DISCOUNT
Typically these types of lead magnets are designed for tangible products you receive in the mail.
7. SURVEY OR QUIZ
These types of lead magnets are a very powerful way of engaging with your prospect, qualifying them and learning more about what they want.
It gets your prospect involved from the beginning, giving them a voice and the ability to participate in the process.
EXAMPLE: Truth Or Hype
8. TEST OR ASSESSMENT
A test or assessment allows for speedy instant gratification and consumption.
It is placed on your blog or website.
9. SALES MATERIAL OR BLIND
This lead magnet is pricing, description and updates of products and services which can be very desirable to certain niches in exchange for their information.
The content is delivered digitally for instant gratification and consumption.
At the end of the day your focus and attention needs to be on creating enormous value for your target audience and solving their problems.
Positioning yourself head and shoulders above your competition allowing for your prospect to openly receive your information creating a feeling of positive expectancy.
Once again we must simply ALLOW prospects to become our customers.
Here’ an interesting fact:
Fewer than 10% in any population use ‘price’ as one of the top three determining factors in buying decisions.
90% of sales people sell as if 90% of their prospects buy by price.
If a prospect does not buy the first time they are exposed to your offer it doesn’t mean that they never will, it just means they wont right now.
What types of lead magnets have you found convert best for your business?
Leave your thoughts and/or questions in the comment section below….