What’s a lead magnet?
A lead magnet is a free resource you offer to prospects in exchange for their contact information. Lead magnets can take various forms, including videos, PDFs, checklists, and more. By offering valuable tips and advice in your lead magnet, potential customers are more likely to trust you. Use the following steps to create your first lead magnet.
Seven steps to create your first lead magnet
1. Find out the most common questions your prospects have
Your lead magnet needs to appeal to the questions and concerns your potential customers already have. Use the following sources to perform your research:
- Your email inbox. Search your inbox for messages where you have answered questions with past customers. Questions that you have answered multiple times may be a good topic for a lead magnet
- Reddit. Search on Reddit for topics related to your services and products. For example, if you offer SEO services, look for popular questions in sub Reddits dedicated to SEO or digital marketing.
2. Outline three title ideas
Based on your initial market research, write down three ideas for lead magnets. The title doesn’t have to be perfect at this stage –note down a working title and a few bullet points.
3. Choose a format that suits your strengths
You can use multiple formats, including written, audio, and video. Many people have a preferred approach. If you are a writer, you might prefer to create a PDF. Creating an audio or video recording may feel more comfortable if you prefer public speaking.
4. Create the draft
Once you have your preferred format, go back to the three initial ideas you drafted in step two of the process. Pick the idea sounds most helpful. Once you have your idea, start to create your lead magnet.
Keep the quick win rule in mind as you work on the draft. Your prospect should be able to consume your lead magnet in 5-10 minutes and learn something valuable.
5. Edit the lead magnet for quality
Your lead magnet is a critical asset to create a positive first impression. Therefore, you must spend time and effort on editing. There are two ways to approach editing depending on your resources.
You can edit it yourself if you have limited resources. Most people find it difficult to edit their work, but there is a way to make it easier. Give yourself some time, at least an hour, before finishing the draft and starting the editing process. That short break will help you look at the lead magnet with a fresh perspective. If you are working with a written lead magnet, you can use apps like the Hemingway Editor and Grammarly to further enhance the quality of the lead magnet.
The other approach is to outsource editing of the lead magnet to a freelancer. This approach is an excellent choice if you are on a tight timeframe and need outside support.
6. Publish the lead magnet to the Internet
To maximize the number of potential customers who download your lead magnet, you need to promote it. Start by mentioning your new lead magnet on social media and your blog. In addition, you can send an email to your list about the lead magnet to let them know about it.
How many lead magnets do you need?
Creating an effective lead magnet takes time and effort. Therefore, you might be wondering how many you need to create. The answer depends on the size and complexity of your business. One lead magnet is probably fine for a small business like a solo graphic designer or consultant. On the other hand, larger companies like IBM and Salesforce constantly create new lead magnets for new product launches and promotions.
Company size is not the only reason you want to create a new lead magnet. Not every lead magnet will find success. If your lead magnet has been seen by at least 500-1000 relevant people and none of them have downloaded the lead magnet, that is a warning sign! Your lead magnet title and concept may not be appealing enough. To fix a lead magnet that is not converting well, start changing the title. For inspiration, see the “Magnetic Headlines” resource by Copyblogger. It will give you the fundamental skills needed to create better titles. If you try 2-3 additional titles for your lead magnet and there are still no sign-ups, you may need to develop a new lead magnet concept.
Lead magnet ideas for freelancers and service providers
The best way to understand how a lead magnet works is to look at a few different examples from freelancers
In each of these examples, note how the company has created an engaging call to action to prompt action. Now that you understand how a lead magnet works, let’s cover how to choose a lead magnet idea and develop it fully.
1. Worksheets and Checklists
Checklists and worksheets are valuable documents that help people to solve a problem. For example, a tax checklist might guide a person through preparing their tax return for the first time. Typically, checklists are short – about one page. You can also include a few pages of additional commentary to help the reader to understand how to use the checklist. Worksheets, in contrast, are a bit more involved. A worksheet can be several pages long and guide the reader through a more complex process.
The Freelancer’s Checklist PDF
Produced by Julia Niven, the Freelancer’s Checklist is a free freelancer resource. The resource covers setting up a business, researching your marketplace, accounting, working with clients, and finding clients. By helping beginner freelancers with basic questions, they are more likely to buy Niven’s freelance products.
2. Case Study
Offering a case study is an excellent way to prove your credibility as a freelancer, coach, or consultant. Instead of talking about yourself, it is much more believable for a past client to discuss their results from working with you. There are different ways to present case studies: short quotes, interviews, and in-depth stories. Generally speaking, a case study is most useful when it contains specific details and exciting results.
Case Study For Freelance Copywriters
Many freelance copywriters struggle to achieve their income and lifestyle goals. That’s a reason why Shiv Shetti started a coaching company. He teaches freelance writers a process to obtain retainer contracts worth up to $5,000 per month. To promote his services, Shetti has created a video case study. The case study describes his and his students’ results using his business process.
A webinar is an online presentation where you can present to a large audience from the comfort of your home or office. Initially, it is generally best to deliver your webinar live to the audience. The live aspect sets this lead magnet apart from the first few examples. Your potential clients can hear your voice, get your perspective on questions, and know you better.
It is helpful to understand that it typically goes into this lead magnet to plan a webinar. In terms of length, webinars are usually about one hour in duration, including time in the end for a question and answer session. In terms of technology, there are various options on the market, including Livestorm, Zoom Webinar, and WebinarJam. The webinar content is usually presented as a PowerPoint presentation or another presentation app like Keynote. Make sure you choose a webinar platform that gives you the option to appear on screen personally and lets you manage the audience (i.e., mute attendees so that you can focus).
KPMG, one of the largest accounting and consulting firms globally, uses webinars to share the firm’s expertise with clients. Past webinars have covered various topics, including EU taxes, business restructuring, and environmental taxes. While live webinars offer the best ability to connect with your audience, recorded webinars (also called replays) are worth offering.
4. Drip email courses
While a webinar offers an intense experience for an hour, a drop email course is a different experience. When a prospect signs up for a drip email course, they receive a series of emails delivered over several days or weeks. It is crucial to communicate the structure and duration of the course in advance. For example, will you send emails every day for 30 days or seven days? It is difficult to claim that your emails will be a course without a time constraint.
Aside from duration, your drip emails need to be organized logically. That means you can introduce the problem in the first email. In the following emails, you offer more tips. At the end of the course, give the reader the following steps, such as contacting you for a consultation.
30 Day Habits Email Course
Author James Clear offers a 30-day email course called “30 days to better habits.” However, sending a daily email for 30 days might be overwhelming! To address this concern, Clear’s webpage states: “You will get one short email every three days for a month. You can unsubscribe any time.”
5. Video course
Offering a video course is somewhat less common because video courses are usually sold as digital products. There is a way to make a free video course work as a lead magnet – make it short. Specifically, it is best to plan a video course lead magnet that takes less than an hour to consume. With a lead magnet, your goal is to help the recipient achieve a single quick win.
Created by Brian Yang, this 51-minute video course is freely available on Udemy. The course explains using multiple platforms to get clients, including Facebook Groups, forums, and YouTube videos. The course had over 3,000 ratings and an average rating of 4.2 out of 5 stars when we checked the course. Yang has nine paid courses available on Udemy and offers other business services for students who enjoy the free course.
6. Free consultation call
Offering a free sample is a tried and tested strategy to promote products in a retail setting like a grocery store. By offering a part of your services for free, potential clients can better understand how you think and determine if you are a good fit. That said, there are two challenges to offering a free call as a consultant or service provider. First, these calls can take up a lot of your time, so you should be thoughtful about who you accept for a free consultation call. Second, it is essential to offer valuable insights to the client. Some potential clients will be concerned that a free consultation call is nothing but a sales call. Therefore, it is wise to explain what clients will get out of the call.
Offering a free consulting call online is easy – use PeachPay. You can use PeachPay to book both free initial consultations and charge for more in-depth consulting calls.
Shopify Consulting Call
One of the world’s best known Shopify consultants, Kurt Elster, offered a free consultation through his company Ethercycle. Ethercycle automatically sends an email to you when you request a call to filter call requests. By asking a few questions upfront, the company minimizes call requests from potential clients that are not a good fit.
What Happens After Someone Receives Your Lead Magnet?
Creating a great lead magnet is a meaningful way to connect with potential clients. Once a prospect decides to work with you, it is vital to have a reliable way to get paid. Sign up for PeachPay today to start accepting payments from around the world.