Before we dive into today’s show about lead magnets, I want to tell you a quick story about two clients of mine.
Client A came to me with an email list of over 75,000 people. Their audience was super engaged with them on social media, and from the outside, this company looked like they had it ALL together and buttoned up. But when we dove behind the scenes, the ugly truth came out: No one was buying.
So what gives?
How could they have this huge, envy-worthy audience publicly, but behind the scenes, nobody was buying? Well, when they came to me for help figuring this out, we dove more into the numbers and realized something really important.
But first, let’s talk about Client B. Client B came to me with a small but mighty email list of just over 600 people. But this wasn’t just 600ish random people. These were the PERFECT people for their business. These people were crazy committed to this business, their purpose, and their message.
On average, they’d get over 60% email open rates, AND whenever they went to sell a program, they’d sell out easily and quickly.
Publically you’d think Client A had it going on, but in reality, Client B was KILLING it with a lot less stress and a lot more impact and profit.
What was the difference?
Believe it or not, it was their lead magnet.
Client A had a slew of lead magnets — quizzes, pdf downloads, three different webinars, an ebook, and a few cheat sheets. They could easily get people to sign up for their lead magnets, but they couldn’t get people to move past that freebie hunter mentality.
Client B had ONE lead magnet — a quiz. The quiz was hyper-focused on EXACTLY what their perfect buyer would need to know to be ready to buy from them. For everyone else, they’d abandon that quiz and move on. Which, for Client B, was perfect.
They wanted to ATTRACT their perfect, hyper-focused audience so that they could engage and have an incredible impact. And they wanted to REPEL everyone else. So they did.
Client A, on the other hand, fell for the “build a giant email list, and you’ll have all the profit you’ll ever want” BS, so they went about attracting the biggest swath of people they could gather. The problem was they weren’t focused on solving a problem for that audience, and even worse, the audience just got that freebie and kept on moving, never seeing Client A as the business to help them.
How incredibly frustrating, expensive, and time-consuming to spend money and effort to create lead magnets that attract the wrong people.
Well, I don’t know about you, but I’ve been guilty of being Client A from time to time.
Sometimes I see people bragging about their enormous email lists of 50k+ and think WOW, they’ve got the magic audience-attracting touch! But then I remind myself about Client A and all the other people out there who’ve spent a crazy amount of time, money, and effort to build an email list that never, ever buys.
And I reign myself in.
So let’s talk about some keys today in creating a lead magnet that grows your business with a buyer audience — not vanity metrics.
I’m sure you’ve heard the term “lead magnet” as it’s definitely become a bit of a buzzword in the online marketing world.
But what exactly is a lead magnet? Why do they work? And how the heck can you get YOURS to perform better?
Well, let’s tackle these one by one.
Biggest Show Takeaways:
#1: What Is a Lead Magnet?
#2: Two Goals of a Great Lead Magnet
#3: The #1 Biggest Reason Lead Magnets Flop
Create Profit Without Worry – one system at a time. I’ll show you how to attract a steady flow of buyers without all the hustle with this free download → 5 Steps to Profit Without Worry.
Links mentioned in this episode:
Learn How You Can Easily Attract Buyers With Confidence + get 50% off with code 50off (end juLY 31st, 2020)