Have you heard of lead magnets before? What about Opt-ins? Freebies? All the time, right? Is your brain broken with all the lead magnet information that is flooding the internet?
I hear you.
Digital Marketer defines lead magnet to be an irresistible bribe offering a specific chunk of value to a prospect in exchange for their contact information.
When I was a beginner, I was at the exact same position. I wanted to learn all about lead magnets. I researched and read and repeated and after all the reading and deep digging, I thought my brain would blast.
The truth is, the more you research, the more confusing it gets. It is best to design one plan of action according to your needs and create a template that you can use every time you want to come up with a new lead magnet.
Using this strategy, you can also create multiple lead magnets in different formats or with different content and split test to nail it down on the one that works best. And this goes for every kind of marketing strategy.
Based on all the information I came across, I created a 5-step solution that has helped me streamline the process of creating lead magnets. And today, I want to share these tips with you.
This process will help you create your lead magnet in about 100 minutes.
But before we dive into this 5 – step process, I want to share with you a few pointers to keep in mind that will help you create better lead magnets, every single time.
1.Pain point: Address a specific paint point of your audience. When you do your research, come up with that ONE thing that your audience is really interested in learning.
2.Specificity: This is the most important point to keep in mind. Create your lead magnet in such a way that you address a SPECIFIC problem or answer a SPECIFIC question or give a SPECIFIC example. A newsletter is NOT a lead magnet.
3.Consumption: Create your lead magnet in such that the reader does not have to put in hours of work for him to consume the information in your lead magnet. This is one reason why I like swipe files and cheat sheets as lead magnets. They not only provide great value to the reader, but can also be consumed almost instantly and are also easily accessible for future reference.
Creating an email course and a video series is great but it’s important for them to be a mini version, for example a 5 five-minute video series, so that the viewers do not lose interest due to the length of the video.
Another great way is to provide one or two videos as sample from your paid video course. Those too make for great lead magnets.
4.Simplicity: Keep your lead magnet simple to consume and easy to understand.
5.Value: This is important. Provide A LOT OF value. Remember, this is the reader’s first interaction with your brand. Work hard to make a good first impression.
6.Focus on connections, not conversions: You are using a lead magnet so you can get your readers’ email address. But this email is of no use if the reader doesn’t trust you and is going to unsubscribe as soon as he receives the lead magnet.
For this reason, every time you create a lead magnet, it is important to keep in mind that you want to use it to build relationships and not only focus on conversions. And you can build relationships by talking in the language of your audience.
Now that we have got those pointers out of the way, let’s get on with the process.
Do your research- 15 minutes
The main point of this research is to understand your audience. And your competitors.
You want to create a lead magnet that people would pay for, but since you are giving it away for free, they wouldn’t want to miss the opportunity. Remember we spoke about addressing a specific pain point? (It is also known as a hook). This is where it helps. A lot. There are ton of places where you can do your research.
a. Amazon books section: Go through the comments and reviews on some of the books in your niche. You will get some valuable information and pain points to address. Select a book with good reviews and click on the Look Inside option. Go through the index, you could find some great ideas for your lead magnet.
b. Udemy courses: Same thing. Go through the list of courses in your niche. Find good and bad reviews and try to pull out some hooks that you can create your lead magnet around.
c. Quora and Reddit: Another amazing place to find a specific pain point to address in your freebie. Search for questions in your niche. Go through the answers. Pull out one thing that seems to be a constant pain point and address it in your lead magnet
d.Competitor Websites: Look at what your competitors are doing. Especially the big ones. They have a huge community, meaning that they are doing something right. Subscribe to their lead magnet. Got any ideas? You could also skim through the comments on their articles or guest posts and get ideas from there.
e.Surveys: If you already have an email list or a Facebook page/ group, surveying your customer is an ideal way to getting to know their pain points.
Decide on the format – 5 minutes
Once you have done your research and have a visual outline of the content you want to create, it is now time to decide on the format of your content, meaning, how you are going to present your content to your audience. Don’t spend too much time thinking over this, especially if you are a beginner. Instead, spend that time creating content and providing value. There are a ton of different formats for a lead magnet, I have listed a few of them here.
a.Swipe files and cheat sheets. Mini e-books and PDFs
If you are just starting off, swipe files and cheat sheets are the best! But make sure you invest some time in creating your content. You don’t want your freebie to be like everyone else’s. There is no value in that and readers will perceive you as just one of the crowd. Be different, do your research and come up with something that provides more value than most people. I have listed these 4 together because they can be created in the same way. Using Canva!
If you know Photoshop or any other designing tool, of course you would use that. But for people like me who get cold feet when designing something, Canva is a savior. I found this cool video by Hustle and Groove showing you how to create a lead magnet in Canva. She also has a Canva lead magnet cheat sheet! https://www.hustleandgroove.com/creating-lead-magnets
These are my favorite type of lead magnets (besides swipe files) They are extremely easy to
create and you don’t need to spend time thinking d the topic since they are an extension of
your blog post or article. You can create these just like PDFs, in Canva.
c. Discounts/ Coupons
If you are a product based business, discounts and coupons are a fantastic way to get opt-ins. You can move your leads up the value ladder by using this lead magnet for a discount on your digital products as well. These can also be designed in Canva. Remember to keep a track of the people who register to avoid misuse. You can also give them a unique code via email that they can use, once they give you their email address.
d. Mini video series/ mini email course
A mini email course is also another great freebie to offer. And all you need to do is create a sequence of 4-5 emails. You would want to keep in mind, though, that you have to keep these emails interesting enough to engage your readers. Boring emails are not only not-read, but also cause un- opening of all further emails.
e. Giveaways/ Challenges
Giveaways and challenges are a great way to get people excited about your brand. Hosting a
giveaway/ challenge over a length of 3-5 days, gives you the time to build a relationship with
the audience and helps build trust and brand awareness. You can host the giveaway over email or have a dedicated Facebook group for the same. Twitter is also a great platform to increase interaction for giveaways and challenges.
f.Resource Library: A Resource library is a value bomb. If you have been writing for
a while, it is great to set up a resource library for your members to access. This does not only
provide a TON of value, but helps create a paid resource over time. Add all your freebies,
videos, webinars and templates to the resource library and create a password- protected
Melyssa Griffin uses a free library as her lead magnet, and it is clearly working for her.
Create your content – 45 minutes
Now is the time to go ahead and create your content. Once you know your audience and have studied competitors, you will be in a much better position to create valuable content.
You don’t need to an expert on the topic, you can provide valuable information by digging deep, looking for answers to questions your audience might have and bundling it up into something unique. Remember, you want to provide more value and most others in your niche. Keep at it, and you
will get there.
Design the Lead Magnet – 30 minutes
This takes time, especially for first -timers. Whether you are great at design or not, make sure you align your lead magnet in line with your brand. The colors, the font, the design should all scream your brand’s name! Content matters a lot, but design matters too. Keep it simple and classy. This step takes some time to master, practice a lot.
Ask these questions – 5 minutes
Once you are done with your lead magnet, ask these questions to be sure that you have created a high converting lead magnet.
a.Does this lead magnet address ONE SPECIFIC pain point or hook?
b.Does this lead magnet provide enough value that people would pay for it?
c.Can this lead magnet be consumed instantly?
d.Does this lead magnet address a problem that audience in my niche has?
e.Does this lead magnet align with my product/ service? (if you have one yet)
f.If this lead magnet simple to consume?
g.Does this lead magnet talk in a language that is easily understood by my audience?
The internet is an infinite loop, once you start reading and researching, there is no end. Hence, I suggest that you time yourself. I have given you an example of how much time you could spend on a particular step in the process, but you can obviously adjust it according to what you feel is right for you.
For example, if you have already decided on the format, you can skip step 3 and spend those extra 5 minutes on creating your content or designing your lead magnet.
Most importantly, create at least 2 lead magnets addressing two different pain points and test them. Repeat this process after every 60 days. So basically, at any given time, you will have two lead magnets.
I hope these tips help you begin your journey of creating lead magnets.
What did you create for your first ever lead magnet?