The Absolute Power of a Lead Magnet
In the coaching industry, the most important thing in growing your business includes growing your email list. If you are looking to get more engagement for your services, or if you want to boost your services and reach your ideal client, lead magnets are the key.
Let me explain what a lead magnet is.
Lead magnets are tools used for lead generation.
A lead magnet is a free service or valuable content provided to your visitors in exchange for their contact information. A free ebook, a pdf, a subscription, a newsletter, a trial of your services, or a free seminar can all be used as examples.
But, let me spill out some facts as well.
Attracting an ideal client has grown more challenging than in the past. People are smart enough to not give their email address easily!
This article will help you figure how you can, not only hook your ideal client but increase your lead generation rate sustainably.
Lead magnets are also great ways to continue to build a relationship with your lead.
However, to develop a customer relationship, you must continually provide value and reduce their pain points.
No wonder every successful business coach focuses on building a strong email list. Coaches have witnessed the highest ROI from email marketing. According to MailChimp’s analysis, “The average open rate for all industries we analyzed is 21.33%”.
In short, email marketing is here to stay. And, you need to keep building it!
The secret to developing an effective lead magnet
“Focus on the appropriate message for the right people at the right time,” said Russell Glass, Ginger’s CEO.
Your lead magnet should not only entice your lead but should also weed out those that don’t fit into your ideal persona.
People nowadays are smart enough to not give away their personal information in exchange for a low-value service.
To stand out from the crowd, your lead magnet should provide enough value for them to consider providing their contact information.
This is important. When you work on your lead magnet and deliver more than expected in exchange for your email address, you have already created a positive authentic experience for them and it helps to build trust.
Another approach is to construct a lead magnet for each sort of service you offer and target each persona separately. In other terms, divide and rule!
The right time and the right place.
Once you’ve decided on a lead magnet that fits your niche and target audience. The next step is to plan out when and where you’ll use it.
For example, asking people to sign up for your “Weekly Newsletter” without adding any value, will probably not work. Whereas, giving them a well-proofed, easily accessible copy of a client retention strategy, on the other hand, can act as an emotional trigger.
“Easy” is the keyword. Lead magnets work because it promises quick gratification, which the human mind craves.
To download that lead magnet, don’t make them fill out a long-form asking where they were born! Make it super simple and easy for them to share their information.
Feeling stuck on what type of lead magnets to create?
Here are some lead magnet ideas for you to consider.
- Free Ebook:
If you are a nutritionist, send them a complimentary ebook on a one-week detox diet.
If you are a financial expert, send them a free report on how the market performed this week.
If you’re a pet groomer, give your tips on how to keep your pet clean in five simple steps.
The possibilities are endless, identify what will benefit your client and create the free ebook. Ebooks are easy to create and highly accessible.
- Free Design Templates:
Designers, graphic designers, and website designers, in particular, can use this lead magnet to demonstrate their expertise.
- Free training/webinar:
Educate them by giving them something they can learn right now and put it into practice right away.
Free training allows them to try out your services. It also gives them the impression that their time has been well spent.
- Case studies:
Demonstrate how it worked for others. This social proof will give them a better understanding of your services and allow them to look at it from a more objective perspective.
- Providing free data analysis:
Who doesn’t prefer seeing the results of their effort right away? Analyzing data for free is beneficial because it allows them to complete their tasks and observe the type of results you deliver. This is the most effective method for any form of software service.
Give them a measure on their present webpage, if you’re offering services that claim to improve their Google Analytics.
When they ask for “how” to improve, give them “what” and then pitch “why” your services.
Netflix offers a one-month free trial, and this social proof works. Giving a trial of your services positions you as not only confident in your services, but also builds a positive impact on the value and services of your business.
- Coupon Code/ Gift card:
Like Oprah, you can also gift your visitor with a free giveaway. Gifting a coupon code/gift card for the services works like a charm. It also provides a desirable outcome. This method appears to be a hit with Amazon. Remember the time when your neighbor gifted you an amazon gift card for your anniversary. Well, that didn’t go well!!!
The logic is simple and clear. If you can provide more value, show them how you’re different and better, they’ll gladly give you their email address.
So, while you’re designing your next lead magnet, ask yourself, “Is this going to help a lead? Will they have enough value for me to stay in their inbox? Is this a problem that they care about?”
If the answer is yes, then start building your lead magnet. And, start growing your business.
I have a free case study where I’ll show you how I created a valuable lead generation sales funnel for a client. They went from not believing that ads can work for their business – to selling 10 programs in 2 weeks. If you want to know the secrets of how we got that done (in a competitive market). Grab your free copy below!