Lead Magnets: What You Need to Know

How to Create a Valuable Free Offer to Grow Your List

Lead Magnets

Believe it or not, building and nurturing an email list is more important to your coaching business than any social media activity you can partake in. You have probably heard the age old saying: “The money is in the list,” more than you can remember. Some would go as far as saying that if you don’t have a list, you don’t have a business!

Why Entrepreneurs Need Lead Magnets:

The concept behind lead magnets works because of one simple truth. People love to get valuable stuff without paying for it. When the stuff is exclusive and solves a specific problem, people will love it even more.

When creating a lead magnet from a scratch, the success depends on its type and how you position it. But, before we get into that, let’s examine the “recipe” of a great lead magnet.

3 Step Lead Magnet Recipe for Coaches and Consultants:

If you take a look at my Wise Owl CAMP: Client Acquisition Marketing Program that I take my clients through, the Lead Magnet falls into the Client Attraction Content. It’s part of the foundation of a good website & marketing funnel. Without it, your funnel will not work.

Most people will not subscribe if you just invite them to get your newsletter or to sign up for your blog posts. You’re more likely to convert your website visitors into leads if you offer them something irresistible. Give them something of value; something they’d actually pay for. Because they actually are. Their email is the currency.

Creating a lead magnet that converts visitors into leads and then into clients is a combination of art and science.

Tailor your lead magnet to your ideal client

  • Begin with the goal in mind & lead them to take baby steps.
    Engineer your lead magnet so that after your subscriber receives it they will take the next logical step, in your funnel. Maybe that’s booking a strategy session, buying your book, or attending an event. Make sure the steps between your funnel are small enough that it’s comfortable for your lead to take. For example, most people won’t feel comfortable booking a discovery call as the 1st step of your funnel. They aren’t ready to share their problems and fears with a stranger. Don’t ask too much.
  • What problem can you solve for them and help them see results quickly and easily?
    Sell the benefits of what they want most. Are they stressed out and would see quick results with a guided meditation? Can you show them how to accomplish a task more easily? Would they benefit from a curated list of the top tools or resources for their niche? Be sure to grab them emotionally with the title and help them to remember the “pain” they are in and give them a glimpse of their promising future.
  • How do they like to consume information?
    Do they love watching videos? Do they listen to a lot of audio books, or do they prefer reading a book? Are they podcast junkies? Do they prefer visuals? Do they take every Facebook quiz that flows through their news feed?
  • Where will they be viewing this lead magnet? In a mobile-first world, you should produce the lead magnet that will work well on mobile. Consider an audio file or video they can play on their phone. If you’re creating a PDF be sure to look at it on your phone first to make sure the text is easy enough to read.

Make your lead magnet short & sweet

One of the hardest parts of creating a lead magnet is knowing how much information to share. A good rule of thumb is to KISS – keep it simple sweetheart. Teach the what & why do not teach the how. (You can save the “HOW” for your paid services or products!)

A 20,000 word EBook sounds like an impressive idea, but your subscribers will not likely read all of it. If you are covering a complex topic with many details, length is secondary. As a general rule, make it consumable to ensure that a high percentage of your subscribers will actually put it into use. You want to make your lead magnet easy for your visitors to read & implement and quick and easy for you to create!

Don’t settle for anything less than a gorgeous lead magnet design.

I know what’s on the inside is what really matters, but people DO judge a book by the cover or a bottle of wine by the label. The perceived value of your lead magnet increases greatly if it’s well designed to showcase and highlight the content.  If you are writing a short guide as a lead magnet, avoid text walls. Make it easy to read, and format it in a way that makes it attractive. Use bullet points, short sentences, images, sub-headings, and colors.

Make it easy to read, and format it in a way that makes it attractive. If you are writing a short guide as a lead magnet, avoid text walls. Use bullet points, short sentences, images, sub-headings, and colors.

You don’t have to be an amazing graphic artist to create an amazing looking lead magnet. Try out a program like Canva or look for templates for Microsoft Word or iWork Pages for well-designed layouts you can use.

Be sure to have an amazing headline as well! 🙂

Surprise Gift: Download your free Lead Magnet Planner! Quick Lead Magnet Planner

Are You Ready for Some Great Lead Magnet Ideas?

Stay tuned for next week’s post. I’ll be sharing some great lead magnet ideas for coaches and consultants.

In the meantime, check out my lead magnet below & learn how to double your conversion in under an hour with my “new and improved” website cheat sheet!


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