Your email list is one of the most valuable assets you can have in your business. And in order to grow your email list, you need to learn how to create a killer lead magnet. So in this video, I’m gonna break down the exact three-step lead magnet formula that I follow to attract highly qualified leads and then turn those leads into sales. Keep watching.
So, you wanna learn how to build your email list and get more qualified leads in your business.
Well, first, let me tell you what not to do.
“Hey guys, subscribe to my email list, so that I can send you more emails.” Yeah, not exactly the way you wanna go. I mean, come on we all get enough emails in our inbox as it is. So the last thing anyone really wants to do is sign up on yet another email list and get even more emails.
So the way you have to think about it is this, people do not actually want your emails, they want help. So the best way to build your email list is by offering them help in the form of a lead magnet that you will give to your prospects for free in exchange for their name and email address.
But here’s the thing, it has to be good. I see time and time again business owners that just slap together some arbitrary content that they have lying around, call it something fancy, and then expect people to come flocking to their website to sign up. But it doesn’t work like that.
So in this video, I’m gonna walk you through the three things that a good lead magnet must include.
At the end of this video, I’ve included a list of the four most popular types of lead magnets that you can offer in your business to grow a list of highly qualified leads.
All right, so let’s dive in. First of all, what the heck is a lead magnet anyway?
Well, a lead magnet is some form of content or information that you offer for free to attract qualified leads, AKA people who are actually interested in what you do and are therefore more likely to buy from you at some point in the future.
Now this doesn’t just help you grow your email list but it also creates trust, builds authority, and yes, gets you new customers.
All right, so now the very first thing that your lead magnet has to do is solve an immediate need. Hopefully, you can read my writing. Now, you will sometimes hear people call a lead magnet an ethical bribe. And just saying that makes me cringe a little bit because I hate the term bribe because it makes it feel like what you’re offering isn’t insanely valuable and you’ll need to convince people to want it.
So let me rewrite that in juicy black letters, solve need, yes, much better.
So sometimes you’ll hear a lead magnet called an ethical bribe. And just saying that makes me cringe a little bit because the term bribe makes it feel like what you’re offering isn’t insanely valuable and you need to convince people to actually want it. It sounds a little douchey when in reality, a good lead magnet is anything but douchey.
A good lead magnet will provide massive value to your audience and make them think, “Holy crap if they are giving away this for free, I cannot imagine how much value I’d get if I actually became a customer!
“So in fact, I am a firm believer that you should give away some of your best content for free.”
That is why I literally spend hours every single week creating these free YouTube tutorials for you. And just like when I’m creating these videos, the best way to make sure you’re giving your audience something valuable is to actually ask what they want.
So every single lead magnet that I’ve created is in direct response to questions that you guys have asked me for help with something or something you wanted more clarification on. So always make sure that your lead magnet is valuable and solves an immediate need or challenge for your audience.
All right, now, the second thing your lead magnet must do is create desire.
Now remember the ultimate goal here is to have your leads become customers. And if your lead magnet doesn’t create a desire for more, chances are your leads will just sign up to get the free thing, and then they will bounce.
So while you want your lead magnet to be insanely valuable and solve that immediate need, you also wanna create desire for your leads to go deeper and learn more from you.
That’s how you build community and that is how you build an engaged and active email list and that is how you turn your leads into lifelong fans. Remember that. “But how do you create desire?” You ask.
Well, you do it by providing useful but incomplete information.
Yes, useful but incomplete information. And we’ll talk about the four ways to do that in just a minute. But first I wanna talk about the third thing that every lead magnet must do and that is you might’ve guessed it, it must sell. Your lead magnet is one of the best sales tools you have.
So let’s refer to the classic where I will explain this in a little bit more detail, all right?
AIDA Funnel, Tone of Voice: Professional
The AIDA funnel is a widely recognized marketing model used to guide potential customers through the stages of awareness, interest, desire, and action. This strategic framework helps businesses effectively communicate their products or services to their target audience, ultimately driving conversions and sales. By understanding and implementing the AIDA funnel, companies can build strong customer relationships and achieve their marketing objectives in a professional and efficient manner.
So obviously you have your audience’s attention, right? You got that with a well-crafted and well-written landing page. Then of course you piqued their interest, obviously because they have signed up for your free lead magnet. But then you have to build desire which is what I’m gonna talk about in just a hot second. And then lastly, you want your audience to take action.
And this is where they actually buy and you get their money.
Now, this can be done in the actual lead magnet itself and I’ll share some powerful examples of lead magnets in just a second, or you can follow up via email with an invitation for them to take that next step.
Or of course, you can do both, which is what I recommend. All right, now as promised, let’s talk about a few of the ways that you can create desire with useful but incomplete information. Because this is where most people get it wrong, right?
It’s easy enough to share valuable information and then of course, to make an offer but like most sales tools or any copy assets that you write, the hard part is actually bridging the gap between the two and creating desire.
And so there are four ways that I like to do this. The first is to solve step one, all right? So this is inspired by Frank Kern’s Results in Advance method. Your goal here is to give away just part of the solution.
You want your lead magnet to provide information that will genuinely help your prospect, and leave them wanting more.
So you first need to identify your prospect’s most desired end result, and then educate them by breaking that down into actionable, achievable steps. Then in your lead magnet, you simply solve the first step for free. By doing this, you are adding value and providing fast results but also creating the desire for your prospect to go deeper so you can help them solve step two, step three, and so on, of course leading to the sale.
So this is so powerful because once people start seeing results with what they got for free, they’ll not only trust you more but they’ll also be more excited and primed to keep that momentum going.
So an example of this type of lead magnet comes from my own archives.
- My Hot Offer Checklist is a highly valuable PDF guide that tells you all the information you must have in order to write a hot offer.
- But of course in order to write a full high converting sales page, you need more than just a guide.
- You gotta take it one step further and join my 5-Day Write & Ignite Challenge and you can check that out at the link below.
All right, now another way to create desire is to diagnose a problem.
All right, now this is where you educate your prospect on a problem they didn’t even know they had. Now, this works really, really well for a more unaware audience. So you help them identify or diagnose a core problem and then you give them an immediate fix for free. Then you sell them the remedy that gives more long-term results.
So a great example of this is the chronotype quiz by Dr. Michael Breus. With his quiz, he diagnoses the reason you have sleep problems by pinpointing your unique chronotype. Then he offers you a personalized solution to help you sleep better based on your type, followed by of course, an offer that will help you go deeper to address the problem long-term.
Now quizzes are awesome lead magnets for two reasons.
- First, they are engaging and fun for the audience, everyone loves learning about their favorite topic.
- And secondly, the quiz itself literally gives you so much valuable information about how to best help your audience.
So it is quite literally a win-win for you and your prospect.
All right, now the third way to create desire is to give the “what,” but sell the “how” right? Now, here you focused on educating your prospect on what they need to do to solve their core problem and achieve their most desired end results and why that is so important.
So you’re gonna give them the action steps, the framework, the secrets, or the formula for them to follow, which they could implement on their own and see immediate results.
But after you give them all of that what for free, you can then position your product as the how, or the comprehensive action plan will help them more easily, quickly and effectively get to where they wanna be.
So a great way to do this is through a MasterClass or a webinar like this one from Mindvalley where Vishen Lakhiani shares his “Three Keys for Transformative Living.” And then of course he would present an offer at the end of this webinar for those who wanna go further.
All right, now, the fourth way to create desire is to give a free sample.
So this is probably the most simple of all lead magnets. You simply offer your audience a free taste of what you offer and what you’re ultimately trying to sell. So getting an early commitment to receive something for free, makes it way easier to then ask for the sale later on.
It is the good old-fashioned law of reciprocity at its finest.
The principle of reciprocity is a fundamental concept in various fields, including economics, psychology, and social sciences. It posits that individuals tend to respond to positive actions with their own positive actions, creating a sense of mutual exchange and cooperation. This principle has significant implications for business relationships, as it emphasizes the importance of giving and receiving in order to foster long-term partnerships and successful outcomes. By understanding and applying the law of reciprocity, professionals can build trust, goodwill, and mutually beneficial connections with their clients, colleagues, and stakeholders.
So all my E-commerce friends will know this one well. Here is an example from Lunya.
Upon arriving on their website, you are hit with a pop-up asking for your email address in exchange for $20 off your first purchase. It is a no-brainer. I mean, who doesn’t like a good deal, right? So there you have it, my tried and true lead magnet formula with four different ways to add value, create desire, and make those sales. I hope you enjoyed this video.