More than 95% of your visitors won’t buy anything on their first visit. They’re either just browsing, still in the research phase or not entirely sure your offer is what they need. It takes time to build trust, instill confidence and build a relationship.
So if we know that the overwhelming majority won’t buy anything on their first visit, why push it? You’re just going to turn them away faster.
Instead, you should try to capture their email address and begin forming a relationship. Money is in the list, as they say… and they’re right!
Having an attractive lead magnet will accelerate your email list building like it’s on steroids.
If you’re currently getting 5 subscribers a day and you’re able to increase it to just 8 a day, the difference in 30 days would be almost 100 new subscribers (150 vs. 240). If even small improvements like that can make a difference, imagine what a killer lead magnet can do for your list.
What Are Lead Magnets?
A lead magnet is the free value you offer to convince your visitors to give you their email addresses.
Getting their email is a transaction. You want their email, so you have to offer something they want in return. Your job is to sell the idea of subscribing to your list and you need an attractive lead magnet to do so.
If your lead magnet is something people want and it seems to be worth going through the hassle (typing the email address, worrying about spam, etc.), you will get their email.
The speed of your list building depends mostly on the value of your lead magnet.
Lousy, unattractive lead magnet = very few sign-ups.
Valuable, attractive lead magnet = tons of sign-ups.
Yes, the design, location and usability of the email capture form all matter, but the lead magnet is what makes the biggest difference.
Nothing magnetic about it. No reason whatsoever given for joining. Probably a good indicator that they don’t take email marketing seriously.
This IS a lead magnet:
There’s a clear offer in place and its communicating the value the subscriber will receive. It has a somewhat spammy feel to it (a bit much hype), but all in all, it’s pretty good.
Naturally, you need to deliver on your promise of value. Under delivering will result in useless emails. Money is not just in the list, but in the relationship with your list. You want to have an impressive start.
How to Build an Attractive Lead Magnet:
Your goal is to come up with a magnet that makes visitors super excited.
Ask yourself: what’s the one thing that would be insanely useful to my audience? You could probably even charge money for it, but won’t.
The truth is that a lot of websites try to capture leads. Many have a lead magnet in place and most offer “free reports” or whitepapers. “Me too” is a terrible strategy and you don’t want to sound like everyone else.
5-Step Checklist for an Attractive Lead Magnet:
Understanding what your ideal customer wants is essential and goes without saying. You want people to go through the lead magnet and learn something… gain something useful, experience an “aha” moment.
The bigger the positive impact of your lead magnet, the better push you have given the prospect.
Take your current lead magnet or the new idea that you have for one and check it against this list…
- Does it add as much value as possible? The better the offer, the more people will take it. A free car to every subscriber? That’d be a guaranteed 99% conversion rate. (Hey, there are always skeptics that won’t believe a good offer when they see one.) Try something less… extravagant, but start with the best possible idea and downgrade from there rather than thinking about one notch above “join to get free updates”.
- Does it evoke an emotional reaction? “For free, really!? I want that!” That’s the reaction you want them to have when they see your lead magnet. Emotional reaction is very important.
- Have you put in the necessary work? There are no shortcuts. The more effort you put in, the better the outcome. If you want to create a killer lead magnet, be ready to sweat.
- Are you setting false expectations or stretching the truth? Nothing is worse than broken promises. Fool me once, shame on me. And I won’t risk being shamed twice.
- Is this really the best possible idea? Look at the lead magnet idea you’ve got and ask yourself whether it’s possible to come up with an even better one. If yes, go back to 1.
Building the best possible lead magnet takes time. It’s okay to start with something mediocre so you can capture at least some emails while you’re working on your killer lead magnet. You’ll just be losing the visitors that are coming in now if you have nothing while you’re creating.
Temporary solutions have the annoying ability to become permanent ones, though. Don’t settle for a mediocre lead magnet.
How to Structure the Lead Magnet Offer:
Start with the hook: why this should be important to them. Craft a benefit-oriented headline.
- Promise: what they’ll get when they subscribe.
- Connect: why you created this and for whom.
- Key Points: issues & solutions, could be in bullets.
- Call to Action: what they should do next.
Don’t ask them to fill in too many fields. In most cases, just email is enough. Read this post about the design of the form.