A “Lead Magnet” is a type of packaged information (free report, CD checklist) that you can offer in your advertising to generate leads (enquiries). Offering a “Lead Magnet” in your advertising will increase the number of inquiries you receive. In a test I ran for my own business, adding a “Lead Magnet” increased my inquiries 45 times.
The key is to not get bogged down in creating your “Lead Magnet”. This is where most people fail. They take weeks and months to create a simple “Lead Magnet” and lose hundreds (potentially thousands) of valuable leads (and sales).
“The Lean Startup” by Eric Ries is a great book that I recommend to my clients. He talks about the importance of speed in business. If you have an idea, implement it immediately.
So when you’re creating your Lead Magnet, don’t think it has to be perfect. Make it work for you.
If you create your “Lead Magnet” in 24 hours (instead of the 6 months it takes for most people), you’ll be able to test 10, 20, 30 more ideas and enjoy the benefit of much better results.
Accelerate your rate of learning and achievement by implementing fast.
Let’s take an example to show you how it can be done. I have a yellow pages directory in front of me. I’m flipping to a page, any page, a bit like “Yellow Pages Roulette”. And the lucky page is headed: Landscaping.
A simple “Lead Magnet” for a landscaping business could be a free report called: “How to Choose a Landscaping Company.”
“How to Choose…” is a great headline for almost any industry.
“How to choose an insurance agent”
“How to choose someone to design your kitchen”
“How to choose an electrician”
To create an effective “Lead Magnet”, it is essential to understand the fears and desires of your prospects. It’s about getting in there and understanding your prospect better than they understand themselves.
Once you understand them, make a list of things they’ll want to know before making a purchase decision.
Dig deep. Think about what your client is trying to accomplish.
For example, someone who wants to landscape their home may want to achieve several results. First of all, you may want to improve the appearance of your home so that you can enjoy barbecues during the summer months. They may want to take more pride in their home, especially when they are entertaining (receiving compliments from guests). Or they may want to improve the value of their home.
You can create (test) several different reports (“Lead Magnets”), or at least test several different titles (with different ‘hooks’). A title might be: “How to add $50,000 to the value of your home with just $1,000 in landscaping.”
Once again, understanding the needs and wants of your target market is a really critical factor here. Another “Lead Magnet” (with a different “hook”) might be: “The best way to design houses if you live in the mountains.”
“How to landscape houses if you have a house in the city” would appeal to a completely different market. And then you can have special “Lead Magnets” focused on topics like…
• Landscape paving
• Laying bricks and landscape blocks
• Landscaping for terraces
• Landscaping for Retaining Walls
You may end up with many different reports. That’s a really powerful thing because you’re tapping into all the different potential niches of your customers. Remember, not everyone wants the same thing.
Once you’ve identified the topic for your Lead Magnet, ask yourself: What are the seven questions people ask about this particular topic?
Could be eight questions. But six questions. Simply make a list of questions that your prospects are most likely thinking about.
Let’s say the landscaper’s report is “How to Choose a Landscaper That Will Add Value to Your Home.” Question number one might be: Why is landscaping important to home price value?
And then you just answer the question.
You can start by citing a study that shows how much gardening can improve a property’s value.
And then you could tell some stories about houses that have increased in value due to gardening.
You could talk about the top three things people look for in a home.
We recently sold our house. When we met the owners (after the sale) they said they loved the garden. That’s what really got them hooked on wanting the house.
One by one, continue to answer the questions that are on your potential customers’ minds.
You could talk about the different types of landscapers: some may be more suited to homes, while others specialize in resorts or businesses.
Another question is: What questions should you ask a landscaper before giving him your business? Perhaps there are critical questions that help the client judge the ability and experience of potential landscapers.
Another thing could be: How do you decide on the landscaping approach? If you landscape your home, what is the design process? How does the approach differ by area? It may be that you have different trees depending on the different climates – mountain or coast.
I know that I have focused on a particular industry (landscape). But think about how this applies to you. No matter what type of business you have, this applies equally.
Let’s say you run a martial arts school. Your questions could be…
1. Why is martial arts important for children’s confidence?
2. What are the different types of martial arts?
3. What questions should you ask your martial arts school before joining them?
4. How do you decide which school to send them to?
And then you end the “Lead Magnet” with a call to action that summarizes your points of difference and provides your contact details. You can also make a limited time offer on a consultation or a special bonus with your purchase.
Follow this simple process and create a “Lead Magnet” that draws new customers to your business like bees to a pot of honey.