High Converting and Viral Lead Magnets!
Lead Magnets are a crucial part of marketing online, and if your lead magnet doesn’t follow certain guidelines, you won’t convert many people into buyers. But I guess before we get started, I should make sure everyone understands fully what a lead magnet is.
“Lead Magnet” is a term used in marketing for anything you use to collect a person’s email or contact information. It can be a coupon, a free pdf, free training video, a free demo, a trial version (if its software or membership), entry into a contest, and pretty much anything that a person would give their email for. Once you get emails/numbers, you can easily remarket to them and make money selling your own products or affiliate products.
In this article I’m going to talk about making high converting info lead magnets, then I’ll cover “non-info lead magnets” and then last, I’m going to teach you about a lead magnet that can go viral, Just to let you know in advance, the video only covers making high converting info lead magnets.
The most common type of lead magnet is what I call an “info lead magnet”, which is some sort of written report/white paper, or a cheat-sheet, a checklist, a “How To” guide, a training video or a splinter product of a main product. A splinter product is just taking one small part of a main product and turning it into a mini, stand-alone lead magnet.
For an example of a splinter product used as a lead magnet, if you go to this squeeze page you can see we give away a free training on getting traffic for leads and sales. The training includes 3 methods that we use to get consistent traffic that converts. Inside the training we also include a short sales pitch for our complete Rebel Traffic Mastery video course which covers 10 methods we use to get converting traffic. So, basically we “splintered” part of our main traffic training course, and created a smaller course to use as a lead magnet.
Using a splinter of your product as a lead magnet converts well because people have already gotten a taste of the good stuff and they won’t mind paying for more (I believe drug dealers use the same method). You just need to make sure you’re giving them something they’ll want to pay more for.
Check out this video where Shane shows you what is necessary for a high converting “info lead magnet”.
When you are thinking about what to use as a lead magnet, keep in mind that the best content is Short and Actionable. People like things that are helpful, actionable, and short. You want to be sure to grab their attention on the first page.
If you do a pdf style lead magnet, your entire report doesn’t have to be more than 7 pages long. If its a video, it doesn’t have to be more than 10-15 min long.
Make sure your Lead Magnet LOOKS high quality as well. If you’re not good at graphic design, you can always outsource the design on Fiverr.
Include an intro about yourself, your business and your services inside your lead magnet (for info type lead magnets only).
When you’re creating your info lead magnet, always keep in mind: SHORT, USEFUL, and ACTIONABLE.
Another good type of lead magnet that is a “non-info” lead magnet is a coupon or free voucher. These don’t really have the potential to go viral, but if you have a store with a physical location and you want foot traffic, using coupons and free vouchers is a great way to get people into your store. Just make sure the lead magnet is considered valuable enough to make the effort to go to the store. Don’t give a %10 discount on a can of coke as a lead magnet.
The discount or coupon should also be either a limited number, or a time limited offer. Scarcity and time limited offers will make people more motivated to take action.
Even if you have an online store or products, you can still use coupons and vouchers as lead magnets. I know a lot Udemy instructors who use course coupons as lead magnets (they offer the course on massive discount). But, we don’t make our readers opt in to get our coupons. You can get all of our courses for 91% off by clicking here. Or click on the Banner at the bottom of the page.
And now for the moment you’ve been waiting for…the viral lead magnet!
Are you ready for it? I actually already mentioned it in the fourth sentence of this post, but I didn’t label it as being a viral lead magnet. Go ahead and read the first two paragraphs again and see if you spot it….or just read on.
The one type of lead magnet that can go viral, is a contest, in particular, a Facebook contest. This is not a theory either, this is a method that I have been using to rapidly grow my clients’ lists for the last 3 years. To show you how it works, I’ll just give an example of how I used a FB contest as a lead magnet that went viral and was high converting.
One of my clients is a very large photography store and offers different photography services and classes. So, as a lead magnet, I set up a photography contest in a Facebook tab and offered photography related prizes like DSLR cameras, camera equipment and photography classes. To enter the contest, people had to submit their name and email addresses.
Since it was a photo contest, the participants wanted their friend’s to vote for their photos, so they shared the contest as much as possible and pushed their friends to vote. My client got a massive increase in followers on their FB page, and a massive amount of free exposure and reach on Facebook.
Lets face it, the idea of winning a valuable prize is more exciting than a training pdf that they probably won’t read (a massive percentage of people who download pdf lead magnets never read them, and the ones that do, usually don’t make it past page 3 or 4.).
How did we make conversions from this contest you ask? In order to collect their prizes, contestants had to go to the main shop. Once they were in the main shop, the sales team took over and many of the contestants ended up becoming regular paying customers. The lifetime value of just two regular customers is more than the cost of all the prizes and contest expenses. That’s not to mention all the exposure, email leads and new Facebook fans they got from it.
Using a contest as a lead magnet won’t work for every type of business, but it will work for many types of businesses as long as you use a little bit of imagination and creativity.
For contest lead magnets that convert well, you want to make sure that the contest theme and prizes are specific to your target audience and attractive enough to make people want to enter to try to win.
Using a contest as a lead magnet is more time consuming and complicated than just creating an info lead magnet, but you can get amazing results very quickly by using a good contest. If you want to learn more about using FB contests as lead magnets (and how to make a passive income from them), then you can click here and check out our course on making a passive income using FB contests or click the image below.
So to wrap it up, to make high converting lead magnets: if you’re using an “info lead magnet” like a pdf, you want to make sure its short, useful and actionable. If you’re using a coupon or free voucher, you’ll want to make sure its perceived value is enough to make people take action. Use a contest with attractive prizes for a potentially viral lead magnet.
With these different types of high converting lead magnets, you can get profitable leads for pretty much any type of business.