Lead Magnets: The What, Why, and How
Lead Magnet. Freemium. Opt-in. Free offer. List builder.
Maybe you’ve heard these words before and were so confused that you just wrote it off.
Or maybe you’re in the trenches of figuring out what exactly you can offer to YOUR people, but are so lost and confused, you’re ready to just scrap the idea completely.
Before you get overwhelmed and decide that you don’t need a lead magnet, let us explain exactly what it is, what should be included, what you should be offering, and if you really do in fact need one.
What is a lead magnet?
You may have heard of a lead magnet, or freemium, or opt-in, etc. All of these are exactly the same thing.
They are a FREE offer that you can give to people who are interested in you or your business in exchange for their email address.
We call this a “lead magnet” because it is something that we are creating FOR our ideal client that they want +/or need that will get them on our list so that we can nurture them and possibly get them to purchase our service or product. Essentially, you are using it to attract leads to your business, thus we call it a “lead magnet.” But, since they are FREE, you may also hear the terms “freemium” or “opt-in” instead.
What should a lead magnet include?
You lead magnet should really be no more than 10 pages TOPS and should be something your ideal client can start incorporating ASAP into their life.
A lot of great lead magnets include checklists, steps, planners, guides, etc. Something that is short + simple that will guide them to what they need.
The base of your LM should be the information your ideal client came looking for with the steps for them to put it in place. So, you will also need to include the basic information that speaks to them.
You will also want to include a brief introduction about you, speaking to who you help. For example, our help statement at The Biz Runners would be, “We help health + fitness coaches uplevel their business through strategy + systems.” We could also go on to talk about helping these coaches with social media strategy and list building, as well as filling up their fitness programs. What do you do to help the people you love to work with? Speak to that so they know YOU are who they want as their coach.
You may also want to include additional ways people can work with you. Maybe you have a free fitness group they can be part of that leads to your paid programs. Or maybe the next step after their free guide is to work 1-on-1 with you. Whatever the next step is after the guide, you will want to include it in the free offer. This will be their first point of contact with you, so you want them to know that if they loved this guide, they will love your paid-for offers as well.
What should I offer my audience?
Oh, the age-old question. What do I want to give away?
A lot of times we are told we shouldn’t give away too much. However, that screams scarcity mindset and your potential clients won’t know exactly what you CAN do for them.
Our theory is show them EXACTLY how you can help them and where you are an expert while speaking to their WANTS. You basically want to wrap into a package exactly what your ideal clients NEEDS packaged in what they WANT.
For example, “I want to lose 5-10 pounds and get rid of my tummy pooch.” That’s what I WANT. What I NEED is to start counting my macros + a workout program to go along with it. I know I can’t spot reduce their mommy belly, but I know that if I tell them how to start tracking their macros and give them the basics of that, they’ll start to lose weight and get rid of their belly. I’m giving them what they NEED but packaging it as what they WANT.
So, your first step before doing ANYTHING else is to write down your ideal client’s pain points. What are they struggling with? What do they WANT? And then write down what you can do to solve that issue for them.
Here is an example of a lead magnet we have for our ideal client. Our ideal client is a health + fitness owner who struggles with what they should be posting on social media. They want more people in their program but they don’t know how to do it and end up getting so overwhelmed, they don’t post at all. They want one of 2 things: (1) ideas of what to post on social media or (2) someone to do it for them. But, what they NEED is consistency. They need to SHOW UP. So, we offer them a content calendar with advice on what to post each day. Giving them what they NEED packaged in what they WANT. And if they want someone to do it for them - well, we can do that too!
Do I really need one? What’s the point?
Maybe you’re new to business. Or even if you’re not, here’s really what it comes down to.
How are people going to know that they want to work with YOU?
Yes, you can post on social media and blast people with your programs. But, are you offering them a way to see if they actually LIKE working with you? How are you nurturing them and getting to know them on a more personal level?
The point of a lead magnet is a way for you to show your ideal client exactly what you need and build a list (a TRIBE if you will) of people who love learning from YOU and what YOU have to offer them. You can promote your product or service all day long on social media, but if you’re not filling your people up with VALUE and what you can offer them, you’re never going to have a paying client.
Really, it’s a great way for you to build an email list, which is one thing in your business that belongs to you. Your followers aren’t really yours on social media. What if Facebook or Instagram shut down tomorrow? Even if MailChimp or ActiveCampaign shut down, you’ll have enough of a warning where you can download your list and take it with you.
So, to answer your question… YES! We definitely feel as if it is something you need to have. You don’t need 15 of them. Just 1 that you can promote on social media, to your list, etc. Get it out there in the world and start loving on your people and watch your business GROW!