How to build a lead magnet that’ll increase your sales
When I first started working with this fitness creator to build a membership website, I thought the sales process was simple.
Build a website, promote to their audience, and people will sign up.
I mean after all, this specific fitness creator was producing content on a regular basis and has a huge following.
So this should be all that is needed in the sales process, right?
I soon realized there is an additional step that makes all the difference when it comes to converting a lead into a customer.
You see, we launched the website and sales were great.
But it wasn't until we implemented a free trial on this membership website that we saw sales skyrocket.
This did the following:
1. Leads could test the program for free with nothing to lose.
2. If the leads feel the product is of value to them, then the clear next step is to continue to beyond the free trial. They build trust for the product and become a customer.
3. If they decided to not continue, we still captured their contact details. We can use these contact details to convert them into a customer again via other marketing initiatives.
This is an example of a lead magnet.
In case you're probably wondering "What's a lead magnet?"
It's a tool used to attract your ideal customers by offering a solution to one of their problems.
You usually offer the lead magnet for free in exchange for the contact details i.e email, phone number.
A lead magnet makes it easier for you to sell your main product/service by giving people a sneak peak of what you have to offer.
It's about giving lots of value to your audience for free so they can see how you are the person to help them solve their problems.
By doing so, you build trust with ideal customers.
And by building trust, you warm up your audience to buy your main product/services instead of just trying to sell directly to them.
This will increase engagement with your ideal customers, builds your authority in your niche, and make you more money.
It's a powerful tool but you have to do it right in order to see results.
Here's the process I use to build a lead magnet that will turn prospects into customers.
How to Build a Lead Magnet
1. Decide what problem you want to solve
Your lead magnet should solve a problem for your ideal customer.
The first step to build out a lead magnet is to decide on what problem you will be solving for them.
Once a problem is solved, it usually creates more problems.
The same principle applies to life and business.
You want to make 1 million dollars.
You make it.
Now you have tax problems.
You usually trade your problems for better problems but they are still problems.
It's a never ending cycle.
Your lead magnet should solve a problem for your leads and reveal a new problem that needs a solution, which is your main product/service.
What are some problems you ideal customer may have?
2. Choose what type of lead magnet you will build
The are three different types of lead magnets you can offer.
They are the following:
1. Reveal A Problem
This type of lead magnet pinpoints current problems of your prospect.
You lay out the problems for them and solutions to fix their problems.
You could plug your own products/services as solutions to the problems you revealed.
Some examples: audits, evaluations, assessments, inspections
For example, I offer a free website audit to point out what changes prospects should make on their website to make more sales.
They can either make the changes themselves, hire me to make the changes for them, or hire me to build out a completely new website.
By the way if you want a website audit, you can find out more information here.
By pointing out problems, your lead sees you as an expert and that you are the person to help them solve their problems, which makes them more likely to buy your product/service.
2. Free Trial
As in the example I mentioned with membership websites earlier, you offer your prospects a trial of your product/services.
You let them try out the whole product/service or give them limited access at no cost for a limited time.
If it works for them and solves their problems, then they will convert into a customer.
For example, a fitness coach could give the first online session free. If the lead likes the session, then they will sign up.
By giving a free trial, people can experience what you are selling at no cost to them to eliminate any doubts they have about the product/service. This builds trust and leads to higher sales.
3. Free Step
You give away the first step in a multi step process.
Some examples: free course, ebook, template, webinar, guide
For example, if you are selling a course on how to do a handstand, you could provide a part of the course for free.
If the prospect finds value in the free course and feels this will get them to their handstand goal, then they will buy the full course.
By showing them how your product/service gets them one step closer to their goal, you help them see the value in your main product/service.
3. How will you deliver the lead magnet?
Once you decide on what type of lead magnet you will build, the next step is to find out how you will deliver this lead magnet.
Here are some options:
1. Webinar
Host a pre recorded or live webinar to educate your leads.
Example: A business coach could host a webinar on best practices to build a 7 figure business.
2. Free Guide and Ebook
Pack useful information on how to solve a specific problem into an guide or ebook.
Example: A social media marketer can give out a guide on how to build out content for all social media platforms.
3. Free Service
Offer to work for your clients for free to show them what you can do for them.
Example: A yoga instructor could an introductory 30 min yoga class for free.
4. Free Trial
Give users access to your product/service for free. Limit the amount of access they have or limit the amount of time they have access for.
Example: A creator with a membership platform could offer a free trial to get leads to test their product. They can give them a limited time trial or limit the features they have access to.
5. Templates
Give away useful templates to save your audience energy and time.
Example: A videographer can give out free luts/color grade presets.
6. Checklists
Build a checklist that helps leads stay organized. Make a checklist for your processes and give this to your audience.
Example: A copywriter can make a checklist for everything to check before publishing a long form article.
7. Audits
You can highlight the problems of your leads by doing some type of assessment.
Example: A web designer can give out website audits to show leads what changes need to be made on their website to get results.
8. Quiz/Survey
Create an interactive quiz or survey that provides leads with useful insights.
Example: A skin care creator can make a quiz/survey showing what type of products they recommend based on a series of questions.
9. Case Study
Show leads your expertise by sharing a past project that you got some serious results for.
Example: A consultant could give leads a case study showing the process of how they helped increase sales for a past customer.
10. Free Course
Create a video or series of video solving a problem for your leads.
Example: A dance teacher could give a free course showing how to master the basic steps.
4. Make it easy, fast and relatable
Whichever you choose, you want to make these are easy and fast for them to consume. The easier and faster it is to understand the more likely they will buy your stuff.
And please make sure you are building a lead magnet that is directly related to what it is your offering.
For example, I wouldn't build out a lead magnet where I teach you the basics of programming.
Although I have the experience and expertise, this is by no means is directlty related to any product or service I am offering.
Make sure you are giving away something related to the product/service you are selling.
4. Give an insane amount of value!
I can not stress this step enough!
Make sure you are giving your prospects something that actually helps them solve their problem.
Give away your secrets here.
Make your lead magnet mind blowing.
Make it so good that even if they do not buy from you after consuming the lead magnet, they have nothing but good things to say about you.
By doing so, you are building a reputation for yourself and setting yourself up as an authority in your niche.
So make sure to cut the BS and make sure you lead magnet is full of value.
5. Provide a clear Call to Action
Last but not least, there is no point to have a fire lead magnet if you don't tell them what are the next steps.
You should provide a clear next step for leads who consume your lead magnet.
Obviously, the next step should be to buy your main product or service.
Don't try to be fancy here, just tell them how you can further help them solve their problems through your products/services.
Take these steps to build out your lead magnet.
Because a strong lead magnet will help you engage with your ideal customers.
Sell more compared to just trying to sell direct.
And build trust with prospects since they can see the value you have to offer, which makes them more likely to buy your products/services.
Take your time with building it out and make sure its 🔥🔥🔥.
It will help you on your journey of building, growing, and monetizing your personal brand.
Once you build out your lead magnet, the next step is to build a landing page for your lead magnet.
Why do you need a landing page?
Well a landing page shows off your lead magnet, your place to collect emails, and give away your free product.
In next week's newsletter, I will be showing you how to build a landing page built to convert.
Make sure to sign up for my newsletter to receive it straight to your inbox.
P.S - I will also be giving away a template for you to use ;)
Until the next one.
- Angel