A “Lead Magnet” is a type of packaged information (free report, CD checklist) you can offer in your advertising to generate leads (enquiries). Offering a “Lead Magnet” in your advertising will increase the number of enquiries you receive. In a test I conducted for my own business, the addition of a “Lead Magnet” increased my enquiries a whopping 45 times.
The key is to not get bogged down when creating your “Lead Magnet”. This is where most people fail. They take weeks and months to create one simple “Lead Magnet” and miss out on hundreds (potentially thousands) of valuable leads (and sales).
“The Lean Startup” by Eric Ries is a great book I recommend to my clients. It talks about the importance of speed in business. If you get an idea, implement it straight away.
So, when you’re creating your “Lead Magnet”, don’t think it has to be perfect. Get it out there working for you.
If you create your “Lead Magnet” in 24 hours (instead of the 6 months it takes most people), you will be able to test 10, 20, 30 more ideas and enjoy the benefit of far greater results.
Speed up your rate of learning and achieving 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 flicking to a page – any page – a little like “Yellow Pages Roulette”. And the lucky page is headed up: 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 title 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’s critical to understand your prospects’ fears and desires. It’s all about getting in there and understanding your prospect better than they understand themselves.
Once you understand them, make a list of the things they will want to know before they make a purchasing decision.
Dig deep. Think about what your customer is trying to achieve.
For example, someone wanting to landscape their home may want to achieve several outcomes. Firstly, they may want to improve the look and feel of their home so they can enjoy barbeques during the summer months. They may want to feel more pride in their home, especially when entertaining (receiving compliments from guests). Or they may want to improve the value of their home.
You could create (test) several different reports (“Lead Magnets”) – or at least test several different titles (with different ‘hooks’). One title may be: “How to Add $50,000 to the Value of Your Home with Just $1,000 in Landscaping”.
Once again, understanding the needs and desires of your target market is a really critical factor here. Another “Lead Magnet” (with a different “hook”) may be: “The Best Way to Landscape Homes If You Live In the Mountains”.
“How to Landscape Homes If You Have a Home In the City” would appeal to a completely different market. And then you may have special “Lead Magnets” focused on subjects like…
• Landscape Paving
• Landscape Brick and Block Laying
• Landscaping for Decks
• Landscaping for Retaining Walls
You might end up with lots of 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?
It could be eight questions. Or six questions. Just make a list of questions that your potential customers are most likely to be thinking about.
Let’s say the landscaper’s report is “How to Choose a Landscaper Who Will Add Value to Your Home”. The number one question might be: Why is landscaping important in home price value?
And then you just answer the question.
You might begin by citing a study which shows how much landscaping can improve the value of a property.
And then you might tell a few stories about homes that have increased in value due to landscaping.
You might talk about the top three things people look for in a home.
We recently sold our home. When we met the owners (after the sale) they said they just loved the yard. That is what really hooked them into wanting the home.
One by one, continue to answer the questions that are on the minds of your potential customers.
You could talk about the different types of landscapers — some may be more suited to homes while others specialise in resorts or businesses.
Another question is: What questions should you ask a landscaper before giving them your business? Perhaps there are critical questions that help the customer to judge the ability and experience of potential landscapers.
Another thing might be: How do you decide on the landscaping approach? If you landscape your home, what’s the design process? How does the approach differ depending on the area? It may be that you have different trees depending on different climates – mountains or coast.
I know I’ve focused on one particular industry (landscaping). But think about how this applies to you. It doesn’t matter what type of business you own – this applies equally.
Let’s say you run a martial arts school. Your questions could be…
1. Why is martial arts important to kids’ confidence?
2. What are the different types of martial arts?
3. What questions should you ask your martial arts school before you jump on board with them?
4. How do you decide which school to send them to?
And then you finish the “Lead Magnet” with a call to action which summarises your points of difference and gives your contact details. You may also make a time limited offer of a consultation or a special bonus with purchase.
Follow this simple process and create a “Lead Magnet” that attracts new customers to your business like bees to a honeypot.