Exploring Lead Magnets

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  • Now that you've begun your list building journey by first taking advantage of those BFFs, those people, you already have their contact information. You've built a landing page to then convert those that are most interested to actually become members of your list, subscribers to your list. And that is part of the first stage of growth.
  • Now the second stage of growth is what I call your friends. These are people you're already connected to. And as I said, previously, I use the term friends, not in that. You text them on Saturday night, but more friends on Facebook, connections on LinkedIn, et cetera, meaning they are connected to you, but you wouldn't already have their contact information.
  • This is a powerful stage of growth because you probably have much more people that you're connected to on social media. Then you could perhaps find business cards for and something. That's interesting. It doesn't apply universally. But the people that we tend to surround ourself with, be it in real life, or even digitally to a certain extent are representative of what we do and what we're about.
  • So leveraging your friends, those people connected to you on social media is powerful for list building because you most likely are surrounded by people that have a similar mindset, a similar view of the world. Now it's not exact, there's lots of variants. However, The point is, is I think there's a lot of people that you're connected to on social media that you can convert to meaningful subscribers on your email list.
  • It comes back to this concept that we're moving from warm to cold, and we're with your friends. We are right in between both the second stage of growth, I believe is important for your momentum. Because again, there's probably much more people that you have potential. To convert to your email list versus the first stage, the first stage is very important.
  • They may be some of your most committed people. They give you great feedback, et cetera, but this is probably your first opportunity to really start growing your list in a more exponential way before. Again, we get to the expansion phase, stage three, where we go to cold people and we'll get to that in a future module.
  • But your friends back to that. Now, as I said before, I use the term friends because I'm more mean social media, friends, people you're connected to on Facebook connected to on LinkedIn and also your networking. You might be involved with certain networking clubs or groups. Those are also considered your quote friends.
  • Now, how do we begin to convert these people that we're connected to on social media and in our networking events? You see, with our first stage of growth, all we ultimately did was we built a landing page to convert people. However, we were not providing any content. We were effectively riding on the coattails of somebody caring about what we are going to do next.
  • And them knowing that we are somebody worth following we're riding on those coattails as we move towards a more cool audience and your friends are inevitably slightly more cool compared to these people that you already have. Their contact information of is we have to begin to offer value something in exchange for them being on your email list.
  • If we simply posted that same landing page that you created to convert. Your BFFs, I would make the assumption that it would not convert very well on your Facebook or LinkedIn, at least not as well as it could. And we want to get the most out of these people and really start building our list. So how do we convert these friends that you're connected to on the internet?
  • Well, what you do is you create a lead magnet. A lead magnet is a piece of content that provides value. To a potential client in exchange for their email address in some ways it's that bait on the hook that I've been referencing along the list, launching lab. This is a piece of content that people will go.
  • I really want that. I'm curious about that. We present it to have enough value and we do provide enough value that then the exchange of their email address. Is worth it. And as you can imagine, your lead magnet is an absolutely fundamental part of list building. Now we've set up our email service provider, which is very important to how is all of these leads, but as I'm sure you've been thinking, well, how do I start getting leads?
  • How do I find these people? And the answer is ultimately you create a lead magnet to then provide value to these potential clients. Creating a lead magnet is a very important and critical pillar of your list building journey. And I want you to create a lead magnet that serves your perfect client. What I call your perfect client model or PCM while also directly tying to your offer because having a lead magnet that goes to the wrong people is obviously a no go that doesn't work for us.
  • Having. A lead magnet that goes to the right people, but doesn't directly tie to our eventual offer is also a no-go. So what we're going to do in the next three modules is cover your perfect client model as well as what your offer is going to be. And with these three aspects, your lead magnet, your PCM perfect client model.
  • And your offer combined together to create an irresistible offer that begins with the end in mind, begins with what you want to sell. So I encourage you to watch the next three modules so we can be clear on our perfect client model, what we are eventually offering. And then we will come back to a lead magnet to create a cohesive experience that serves you, your clients and your business.
  • Now, we're going to talk about all the types of lead magnets for you to consider making. And you can of course have more than one. However, I want to first start with what is not a good lead magnet, Kathleen and I tend to work around a lot of coaches, consultants, and other service providers like that. And something that we see all too often is them offering free coaching.
  • On their website effectively trying to use free coaching as a lead magnet. And on behalf of Kathleen and I please stop offering free coaching. It is quite possibly the least effective lead magnet you could ever do now is free coaching a bad idea. No, it's a good idea. It's a great way. To show someone what you're capable of offering them.
  • Now you might not be a coach. However, I imagine each sector has their own version of free coaching. And the reason why offering free coaching is ultimately a bad choice. Something we are strongly against is because of something called the gradient of trust. Now, if you look at this funnel shape, which you might be familiar, cause I have used this diagram too.
  • Illustrate the nurture sequence of a client. However, I use it in this case to illustrate the gradient of trust. That somebody, a potential client of yours follows and something that you should be keeping in mind when creating a lead magnet. So as we move from gold to pink, the gold is the no trust. It's requires very little trust and we moved down the line until high trust and going through each of the stages is for example, posting content on your social media.
  • Requires effectively, no trust somebody following you on social media and seeing that post that you make is very easy. There's no trust involved. There's a very low barrier of entry. The next stage would be a lead magnet, which is low trust, but requires quite a bit more trust than that social media posts, because they're having to input their name or their email, and really get in touch with you in a more meaningful way.
  • The next step in the gradient of trust is some sort of qualifier. Meaning this person who's seen you on social media. Took action with your lead magnet. You were then asking to do some other next step that qualifies them as a sort of priority, meaning most likely to buy or most likely to sign up before ultimately getting to that high trust point, that product, that offering that service that they've actually purchased, which obviously requires high trust.
  • Now I said that offering free coaching is a bad lead magnet and that's ultimately due to the gradient of trust. We would be asking people to ultimately skip one or even two pieces of that gradient of trust, and almost begin first with a qualifier and what you end up doing. It's not that nobody knew who would sign up.
  • That's not true. Some people will. However many, many people will feel like that's just too far. It's just a bridge too far to initially commit to a one-on-one coaching session face-to-face or at least digitally face to face that is much too much of a quote risk than they're willing to take. And that's why keeping in mind the great into trust is critical.
  • Starting in the easy zone of social media. Warming them up to a lead magnet. And then following up with that qualifier, that more meaningful offering that would maybe look like something along the lines of a free coaching session to then move them into say a paid coaching engagement. So let's just talk about a sample flow for a second.
  • The first stage would be some sort of rich media, which is your social media, your website, YouTube video, Facebook, et cetera. From there, they opt into your lead magnet. And from there, there, then. It's confirmed, basically thanking them for downloading their lead magnet and perhaps some guiding messaging around it.
  • And from there, those people are then offered an option to book a time in your calendar for a free coaching session. You see, it's not the first step. But in this case, it's the four. And that ultimately is following the guidelines of the gradient of trust and keeping in mind the gradient of trust so that you maximize the amount of people that you're converting down your funnel to get more people, to make that qualifier, to book that time in your calendar in this example, because that's your best bet to convert somebody into a paying customer and.
  • Something that I strongly believe is that every business needs five things to be sustainable. It's leads. It's the ability to nurture leads. It's the ability to convert people into paying customers, to then deliver those goods that's promised and then to retain resell and upsell to those people. And why I believe that list launching lab is so critical and email list building in general is because everything is dependent on being able to generate leads.
  • We have made mistakes with our lead generation that I'm will tell along the list, launching lab journey, where we ultimately ended up collecting many leads that weren't targeted to our people, which we'll get to. When we talk about perfect client model and we ended up suffering in this subsequent stages of nurture conversion delivery retention, because we ultimately got the wrong.
  • People, however, why I believe leads are so important. Ultimately list-building an extension of that is because it gives you the opportunity to nurture, to change how you nurture to change how you convert. Whereas if you don't have leads, the opportunity to iterate is gone. So the thing I'm most grateful for, and the thing that LIS launching lab provide drives you in the most, in, in value is you will know how to generate leads and you'll get better at, you know, writing leads, which then support the four other things that your business ultimately needs to, to be sustainable.
  • And it comes back to this notion that most people that we have talked to many people early on is if you ask them, if you had a marketing problem, they would say, yes, I definitely have a marketing problem. And I would say, you probably do. Most people do marketing and sales is difficult. However, if you have no one to market or sell to it, ultimately doesn't matter.
  • And that's where it lists launching lab comes in. And that's where lead generation comes in. So let's talk about the types of lead magnets. I've identified seven types of lead magnets for you to consider. Now you can see there's a lot of diversity in this and they are roughly listed in there. Ease of creation, roughly.
  • It depends on you perhaps. Uh, individually, what you like to do, what you don't like to do. However, in general, as we work through these lists, I'm going to go into each of them in more detail, they get more complex to create as you go. So let's start with a cheat sheet, a cheat sheet. Is a piece of content that's pros are that it's very quick and easy for you to create and for the client to consume another pro, is that it's very much to the point.
  • It can be very focused and because it's a smaller piece of content, you can show more attention to detail, meaning the design of the. Cheat sheet and things of that nature. The cons are that it's obviously not that deep. It's a single page, usually maybe two pages, but it ultimately is very shallow. The best you can offer in such a short piece of content is really just high-level work.
  • Maybe it's a tip. Not so much a deep dive and what a cheat sheet ultimately would look like is some sort of PDF. Perhaps we could make a PDF cheat sheet comparing all the email service providers that I went through earlier in this launching lab for somebody who's first considering creating their first account with an email service provider that might be a handy cheat sheet to look at and a quick pros and cons list.
  • That might be something that someone would be interested in. Now a workbook kind of builds off a cheat sheet in that it is a PDF document. However, it expands in its depth and the pros of a workbook are that the client can ultimately see the value because I have an example of a workbook that I'll show you.
  • And what it allows people to do is to work through to a very. Specific solution, which can have a lot of value for people to get at solution. Now, something else that a workbook really opens up the door to is affiliate links. It's not something we get into in list launching lab. However you're here providing great value along this sort of journey inside this workbook that leads to an outcome.
  • You might have the potential to then suggest a product to somebody, for example, which you could then use it as affiliate link to bolster your revenue to some degree. But the key thing to a work book really is that it's beyond bite-size, especially when you compare it to a cheat sheet, it's really something that they can sink their teeth into.
  • Now there's some obvious cons along with the workbook in that they obviously take more time for you to put together and for the client to ultimately work through. And it obviously lacks that piece of instant gratification that a cheat sheet might be able to fulfill. However, again, I do think it's worth it.
  • Ultimately going beyond that bite size and giving them something to sink their teeth into. This is an example of Kathleen Seeley's. Workbook lead magnet, where how to create your signature story. This is a workbook that people work through step-by-step and then in the end compile their answers that they work through along the book, into their signature stories, very powerful, and it is a great lead magnet.
  • Now a guide, much like a workbook is something that can provide huge value for a client because it can solve a real problem. Now, how do I distinguish between a guide and a workbook? To me, a workbook is something that you engage with. It would have be a little bit more like worksheets. Like Kathleen's create your signature story workbook.
  • You're really filling in things as you go. And very much engaging with the content, whereas a guide, right? You're much, you're following more. Step-by-step. As an example, as this launching lab, we suggest that you create a Google workspace account. A guide you could create in this example would be a step-by-step guide with say pictures or videos, for example, of how to set up your Google workspace account.
  • So, this is obviously very valuable. If you're somebody looking to create your Google workspace account and don't know what to do, you can obviously provide huge value by just solving that problem for them. They can just follow along your guide and guides are really powerful because you can really see someone thinking, Holy, this is free.
  • If you solve the problem in a way that's relatively easy, they just exchange their email address and you solve a problem. That's nagging them. That is extremely powerful. The cons of a guide, much like a workbook is it's time intensive for you to create and them to perhaps take part in. And you do run into this sort of scenario of is, is this too long?
  • Is this too short? Is it too much? Is it too little? So you'll always have to be. Balancing what to provide in a guide, but it is a very powerful lead magnet, depending on your niche. A sample lead magnet guide that we have is five ways to find more clarity where people can kind of follow along in these suggested steps in their day to day life to provide more clarity.
  • So that's just one example of a guide that we've made in the past. Now moving from PDF's obviously from cheat sheet to workbook to guide they're all written materials and to moving to more rich media can be very powerful with lead magnets. And two options you can go is obviously audio only, or a video.
  • And one benefit of using audio or video as a lead magnet is there's higher perceived value. You can show more you obviously than just your writing, although you can convey a lot with writing. Obviously there's nothing more real than your voice or your voice and face in combination on video, something else to consider is audio or video can be a much more convenient way of consuming content than something like a workbook or a guide.
  • It can also be very legitimizing seeing somebody on video, especially on the internet. It makes it a little bit more real. And you can know somebody a little bit better and you can therefore be more comfortable engaging with them. That's the power of audio and even more so with video and something that I think is not considered often is in a written document.
  • Being salesy is very uncomfortable. It can be very slimy. It can feel gross. However, you have a little bit more freedom. It feels like. When you're on audio or video to be a little bit more salesy, a little bit more compelling, and it comes across much nicer to the consumer than it does in writing now, cons obviously it could be harder to do.
  • Now. This depends on the person, because I think I find writing to be quite possibly the most difficult thing to do in the world. Whereas something like audio or video becomes a little bit easier if I get into the flow. So that could be dependent just on you also, obviously, as we get into more richer media and more technically advanced things.
  • There could be the potential for there to be more money required in order to get started, or you might need a camera, you might need a microphone, for example, and then you might then need more infrastructure or different infrastructure. It could be something like Vimeo for your videos or some way to distribute your audio.
  • This is just something to consider. One of my favorite examples of an audio lead magnet that is extremely effective is by Marie Forleo. One of the people I respect tremendously in the online entrepreneur space and what her free audio training is called is how to get anything you want and you can download it.
  • And it's very simple and straightforward and it's very, very powerful, and it really conveys her message her style in this way. That's very. Friendly and great. So audio can be powerful and video can as well. So this is just an example of a audio lead bang that then when we talk about challenges as a lead magnet, we really make this transition.
  • That's quite distinct. It's a much different ask to put together a PDF, either cheat sheet workbook, or guide, or even an audio or video piece of content, then putting together a challenge. This is something that gets quite a bit more complex and much deeper, and they can be that much more powerful. But I just like to draw this sort of imaginary line between the lead magnets we've covered thus far to the ones we're about to cover.
  • They get a little bit more in-depth and challenging, and you might consider starting with one of the lead magnets that I've previously explained before diving into subsequent ones. We're going to cover here. Now I challenge the pro of a challenge as a lead magnet is it builds your list, but it also builds your tribe simultaneously because when you're doing a challenge, you're not just exchanging this one piece of content.
  • You're really asking for them to buy in and. Play with you. And that is something that can lead to a much tighter relationship building exercise within your challenge than any PDF or audio or video training could ever do something else. That's amazing ODA challenges. If somebody decides to join your challenge, they're quite likely to invite their friends to also take part because it's much more fun to do that type of challenge with a friend.
  • Or a group of friends or maybe family. And if you compare that to something like a guide, just as an arbitrary example, The likelihood of somebody sharing that guide is possible, certainly, but it's not extremely shareable. It's not something that people get excited about that they're posting about.
  • Whereas a challenge is something that people will rally their people to come to with them, which is a very powerful when you're trying to build your list. A challenge is one of the first lead magnets that can begin to make exponential list growth possible. And because these challenges are over more time and are very deeply integrated, you really have the opportunity to blow people away with your content and what you offer.
  • And it really is an opportunity to provide a measurable value, huge value for these people. Over whatever the length of your challenge. And even beyond now with using challenges as a lead magnet comes a few cons that you should consider. The first is obviously time, the amount of planning and support and dedication it takes to pull off a great challenge.
  • Cannot be understated now, as all the reasons stated previously, I believe it's worth it. However, it's very important to know that a challenge is not something that just gets thrown together. It requires very detailed planning and potentially the need for support staff. In fact, most likely if you're doing a great challenge, you will need some sort of support inside the challenge or getting people inside the challenge.
  • And your execution becomes that much more important with a challenge because it might not be live. In the sense that you're live on video or something, but it's unraveling in real time. So you really have to execute and hit your Mark at various points for the challenge to keep its integrity. And there's something consist to consider.
  • When you talk about the great end of trust with the challenge, it's possible that it might make more sense for your challenge to fall further down. Your funnel further down the gradient of trust, because it might be a big step for somebody, but many people do use a challenge as their first step. So this is just something to consider, but it's not, not set in stone.
  • This is the lead magnet that Kathleen and I have built our list building and ultimately our businesses around that is quizzes or assessments now. We love quizzes and assessments as a lead magnet because they are off the charts engaging, especially when you compare it to a. Static PDF. They're so dynamic and engaging and they can provide real value and they cater to the human condition of wanting answers and to build off that, even more answers specific to them.
  • So some sort of quiz that shoots out a custom answer depending on their responses is something that almost any human can't. Resist. And it also provides you as the quiz or assessment creator to learn about your audience. If you're asking meaningful questions, you're obviously learning a lot about your people that can better help you serve them or also sell to them.
  • And not to forget that a quiz or assessment can be quite fun, they can feel magical and they can really open a door to a course or a guide or a next step that would be paid because it might provide some sort of answer shot out to this person depending on their responses. And perhaps it would make sense, depending on your context in which you work, that you can provide some sort of way of making sense and working through or working with.
  • Those responses in a more meaningful, deeper way. That is the power of quizzes or assessments. Now with that great power comes some lists of cons to be aware of quizzes and assessments can be tricky, both in that they have to. Provide some semblance of real value. They can't be gimmicks. So that can be a little bit tricky because you don't want to be a gimmick.
  • You want to provide real value that as it pertains to the work that you ultimately do, and obviously quizzes and assessments be open up a whole world of technology. Now, the good news is there's so many service providers that allow you to make quizzes or assessments. Super easy than ever before, but it is something to consider that there is much more tech involved.
  • And with that tech comes expense. At some point, if you use a quiz or assessment with a lead magnet, you will require paid tools to make that happen. So it's always something to consider. And there also could be this. Extra amount of work. Again, it's worth it. The pros of a quiz or assessment as a lead magnet.
  • But just as an example, let's say there's four potential outputs for potential results for your quiz. You would obviously need four responses to that person. So they get individualistic results. So something to consider and one lead magnet that we use. That's a personal values assessment. It's a personal assessment that takes five minutes or less to discover your values.
  • That is the lead magnet that Kathleen and I use to build our list by thousands of people per month. It is a powerful lead magnet. And the one thing to consider is this is behind one of our certifications. So you need to be certified in order to use this as a lead magnet. So I wanted to provide an additional.
  • Example that we have called our mindset ID quiz, which is the work of Carol Dweck, which is a wonderful author, highly suggest you Amazon search her. She has a powerful, powerful work around mindset. And Kathleen took Carol Dweck's mindset work and put it into a quiz where you can discover your mindset ID.
  • And I wanted to share this with you because obviously the personal values assessment requires a certification. Whereas this is something that we just created, something more in line with something you could create. Now last, but certainly not least is the mini course or video series lead magnet. And these can be extremely powerful because they get to see you in action in a more prolonged way than any other lead magnet you'd be creating.
  • And you can. Really provide outrageous value and you can really set them up to take a next step, a paid next step with you by laying out the course, the mini course or video series to take them quite a ways down a journey, but obviously not to the finish line, if you will. And then you could really prime them to see why working with you would be very valuable.
  • And obviously with this it's the last lead magnet on list because it is the most time-consuming has the potential, I should say, to be the most time consuming. And if it was too short, it could lead to someone being unsatisfied, or it could be too long and they really would sit there saying, well, wow, you really solved my issue.
  • Thank you so much. I don't even feel the need for next step. So that's something you're balancing with a mini course or a video series. But overall at what a powerful way of showing what you're capable of to a potential lead. And a way that we do this in our business is we use a specific tool called Wistia, which we don't necessarily get into in depth with lists launching lab.
  • And what it ultimately does is it allows you to put a stop gap in your video, in the play, through that you require an email to sign up in order to continue. And this is one of our highest converting lead magnets we've ever put together. So not the most amount of people, but the most amount of people divided by the number of people who inputted their email.
  • It was the highest we've ever had. Something like off my memory, 78 to 80%, meaning. Roughly 80% of people that hit that page that started that video ended up inputting their information in order to complete the video. And it was about a 25 minute mini course that we put together. So an extremely effective.
  • Lead magnet. So those are the seven types of lead magnets that you can create to start building your email list as promised earlier. The next thing we are going to look at is both your perfect client model and your final offer to then use these three critical pieces of information, your lead magnet, your PCM, and your final offer to then create a very cohesive experience where your lead magnet.
  • Is very much in alignment with what your perfect client model needs, which is then in alignment with what you end up wanting to sell. So see you in the next module where we dive even deeper.

Up next

Perfect Client Model and Offer

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Fundamentals
Fundamentals
5 Reasons You Need a List
5 Reasons You Need a List
8:13
About Karson Grady
About Karson Grady
12:16
Terminology
Terminology
12:29
Email Service Provider
Email Service Provider
28:12
Exploring Email Service Providers (ESP)
Exploring Email Service Providers (ESP)
28:12
Create ConvertKit Account
Create ConvertKit Account
2:34
Sender Reputation & Pro Domain
Sender Reputation & Pro Domain
15:32
Connecting Your Domain to Pro Email & ConvertKit
Connecting Your Domain to Pro Email & ConvertKit
12:13
Build Your List
Build Your List
First Stage of List Growth
First Stage of List Growth
21:00
First Landing Page
First Landing Page
24:53
Exploring Lead Magnets
Exploring Lead Magnets
30:27
Perfect Client Model and Offer
Perfect Client Model and Offer
15:46
Perfect Landing Page
Perfect Landing Page
11:04
Build a Landing Page
Build a Landing Page
48:02
Customer Flow
Customer Flow
13:43
New Subscriber Nurture Sequence
New Subscriber Nurture Sequence
32:23
Build Your Community
Build Your Community
Regular Weekly Content
Regular Weekly Content
28:26
5 Ways to Grow Your List
5 Ways to Grow Your List
21:49
Maintaining Your List
Maintaining Your List
Cold Subscriber Re-Engagement
Cold Subscriber Re-Engagement
23:13
The Promo Pivot
The Promo Pivot
28:46
ConvertKit 101
ConvertKit 101
Customizing Your Account
Customizing Your Account
16:14
Importing Subscribers
Importing Subscribers
2:20
Subscriber Profiles
Subscriber Profiles
1:21
Landing Pages & Forms
Landing Pages & Forms
8:07
Incentive (or confirmation) Email
Incentive (or confirmation) Email
4:26
Automatically Tag Subscribers
Automatically Tag Subscribers
1:58
Your First Sequence (Welcome Sequence)
Your First Sequence (Welcome Sequence)
3:30
Broadcasts
Broadcasts
5:29
Email Analytics (Reports)
Email Analytics (Reports)
3:01
Visual Automations
Visual Automations
5:59
Configure Your Custom Domain for Landing Pages
Configure Your Custom Domain for Landing Pages
4:23