The Lead Magnet I Built When I Was 4, And a Complete Guide To Building Lead Magnets (For Grown Ups)

The Lead Magnet I Built When I Was 4, And a Complete Guide To Building Lead Magnets (For Grown Ups)

You probably won’t believe me, but I built my first lead magnet when I was 4 years old. I was in preschool, and I’d developed a crush on a girl named Renee who I thought was the coolest and prettiest girl in our whole class, and I had to figure out a way to get her to like me.

At that stage my skills were pretty limited, but I was really good at Lego, so I decided I’d build the biggest and most awesome lego structure ever seen at that particular preschool. It took me 3 days to build, and constant warding off of other kids who wanted to steal blocks (granted I was hogging a lot of them), but in the end it was magnificent.

Now the important part, was Renee impressed? Unfortunately not. She’d become besotted with little Tommy who was a young Soccer prodigy. In the end that didn’t matter though, because Chloe, Melissa and Sarah were all extremely impressed with my work, as were a bunch of boys who all wanted to be my new best mate. Long story short, my Lego structure had made me the most popular kid in the class! I didn’t know it then, but I’d just built my very first successful lead magnet..

So, what is a Lead Magnet?

In short, a lead magnet is anything of value to your specific target audience that you can exchange for their contact information – typically an email address.

No doubt you’ve seen plenty of lead magnets offered online, even if you didn’t know they were lead magnets; the most common types being free pdf downloads or ebooks. These are just a couple of examples and there are tonnes of other different types of lead magnets you can offer, which we’ll get to later.

Regardless of the type of lead magnet you create, all lead magnets have the same goal:

“Generating targeted leads for your product or service offering.”

Why Lead Magnets are important

If your business relies on new leads to maintain growth and scale revenue, effective lead magnets are an invaluable tool in helping generate those leads.

While it might not seem like much, collecting the email address of a prospect is a valuable transaction. The higher the value of the product or service you offer, the more valuable that email becomes. Collecting the email converts a member of your target audience into a lead, someone who has expressed interest in what you have to offer and has given you the opportunity to market yourself to them further.

Back in the old days of the internet, collecting email addresses was easy. People were happy to sign up for newsletters because it was fun to get emails, just like they were excited to download a free guide or ebook because it wasn’t common to be offered high value content free of charge.

Unfortunately that novelty has worn off as people’s inboxes have become chock full of spammy emails. This makes lead magnets more important than ever, as it’s critical to make a prospect feel like there’s something valuable in it for them before they hand their email over.

If your lead magnet is lacklustre, it won’t attract many leads and the ones it does attract aren’t likely to be interested in your paid offering.

On the flip side, a well crafted lead magnet should instantly grab your target audience’s interest, and deliver real value to them. If you can impress them with your free offer, you’re setting your relationship with them on a very positive note and building the chances that they’ll become interested in your paid offer.

The point of this guide is to help you build the latter.

Step by Step Guide to Creating a Lead Magnet

Step 1: Defining your target audience and what they want

Who is your target audience?

The critical first step in creating an effective lead magnet is understanding who exactly your target audience is. The more defined your audience is, the easier it will be to create a lead magnet that offers real value to them. Think about their demographic profile i.e. age, gender, location etc, and also their psychographic profile; interests/hobbies, values, personality type etc Remember, be as specific as possible for best results.

What are their pain points?

Now that you know who our target audience is, you need to figure out their pain points in relation to your offering. If you’re in real estate, maybe they’re afraid of taking the next step in a purchase because they’re concerned about obtaining finance. If you’re a personal trainer, your target audience might be scared of entering the gym because they don’t know what to do once they’re in there. If you’re a cosmetic surgeon, your target audience might be concerned about premature ageing. Every target audience will have some kind of pain point, for some it will be obvious, for others it might take some work to uncover it, but it will be there.

Our Lead Magnet Worksheet makes this process easy, access it here. 

Step 2:  Lead Magnet Ideas

Now you’ve defined who your target audience is along with their pain points, you’re in a good position to determine what kind of lead magnet would offer specific and relevant value to them. First you’ll want to determine the kind of content you’ll offer, then you’ll need to figure out the format, or type of lead magnet you’ll use.

Before you get started, here are some key points to keep in mind:

Play to your strengths – If you hate getting in front of a camera or can’t stand the sound of your voice, a video tutorial or webinar probably aren’t the best options for you, however if you’re great at writing a guide or eBook might be good options. Stick with what you’re good at.

Make it simple – If your lead magnet is too complicated it won’t fulfill its purpose. Your target audience will need to understand what you’re saying in order to appreciate it, so make sure you keep it as concise and loaded with value as possible.

Easy consumption is key – Your goal should be to solve your target audience’s pain point as quickly as possible. The more efficiently you can do that, the more authority you’ll build in their eyes and the faster they’ll move down the sales funnel.

With these points in mind, let’s use our examples from above to illustrate what potential lead content might look like:

Industry: Real estate

Pain point: Doesn’t know how to obtain finance

Potential lead magnet content: Step by step guide on getting the best mortgage deal with minimum hassle.

Industry: Personal training

Pain point: Afraid of going to the gym, doesn’t know what to do

Potential lead magnet content: Easy to follow program for aspiring gym goers.

Industry: Cosmetic surgery

Pain point: Unhappy with certain aspect of appearance e.g.  

Potential lead magnet content: 5 proven tactics for maintaining a youthful glow.

You get the idea. So once you’ve figured out the kind of content you’ll offer, the next step is figuring out what format you’ll offer it in. Here are some examples:

  • Checklist
  • Cheat Sheet
  • Template
  • Swipe File
  • Guide
  • Examples

Our Lead Magnet Worksheet contains another 50+ lead magnet types, find it here.

Once you’ve figured out the content you’ll use in your lead magnet, you just have to figure out which format will work best for it, then you’ll have your lead magnet. We’ll illustrate this with our examples:

Industry: Real estate

Pain point: Doesn’t know how to obtain finance

Potential lead magnet content: Step by step guide on getting the best mortgage deal with minimum hassle.

Potential lead magnet: Complete Home Finance Guide; How to get the best deal on your mortgage with minimum hassle.

Industry: Personal training

Pain point: Afraid of going to the gym, doesn’t know what to do

Potential lead magnet content: Easy to follow program for aspiring gym goers.

Potential lead magnet: Cheat Sheet For Gym Beginners; simple program to get you lifting like Arnie in no time.

Industry: Costmetic surgery

Pain point: Unhappy with certain aspect of appearance e.g.  

Potential lead magnet content: 5 proven tactics for maintaining a youthful glow.

Potential lead magnet: Anti Ageing Checklist; 5 proven tactics for turning back the clock and maintaining a youthful glow.

Now you know what your lead magnet will be, you’re ready to build!

 

Step 3: Building The Lead Magnet

You’ve got your content idea and you’ve decided the format, here’s a simple process for building the lead magnet

  1. Outline the content; create an outline of the content you’ll put together, it doesn’t matter how you do this, whether it’s on a piece of paper, in a document, or a spreadsheet, just outline the key areas of content that will be covered and in what order.
  2. Write out the content; if you find that you often get stuck with writing, a good tactic for combatting this is to look at each point in your outline, and then record yourself talking about it. Then you can simply transcribe the recording in whatever format you’ve decided on. If you the lead magnet type you’ve decided on involves video or audio, you won’t need to transcribe, simply record as appropriate.
  3. Edit/cleanup; once you’ve got your written or recorded content, go over it to make sure it’s tidy and there are no mistakes. Try to make sure it has a conversational tone and is easy to consume.
  4. Get a design; most lead magnet types can benefit from a professionally designed cover. Keep in mind this doesn’t need to cost a lot, there are plenty of high quality designers on sites like Fiverr who will do this work at a very low fee. Just try to look out for the ones who have done a lot of jobs before, have a high rating, and you like the look of the examples in their portfolio.
  5. Put it together; how you put your lead magnet together will depend on the type you’ve chosen. For a lot of the lead magnet types, you’ll be able to simple create it in a doc and then convert it to a pdf. If you’re being a bit more adventurous there are a bunch of tools available (many free) that will help you put together a professional looking finished product.

Find a list of 16 free tools for building Lead Magnets in our Lead Magnet Worksheet, access it here.

Bonus Step: Getting It Out There

Your super targeted, value delivering Lead Magnet is ready to go. So don’t let it sit on a virtual bookshelf gathering digital dust, put it to work! Below are some simple ways to get it driving new leads into your funnel asap. Before you do that though, make sure you setup a mechanism to capture lead details before they can access the Lead Magnet. A simple way to do this is to create a landing page specifically for this Lead Magnet which will collect the leads details before the can access the content. Pro tip: add a retargeting pixel to the landing page so you can serve ads to the lead and help push them down the funnel.

Ways to get prospects hitting your lead magnet:

  • Run ads to it directly; setup a campaign on any ad network, preferably one where your target audience hangs out, and drive traffic directly to your lead magnets landing page.
  • Post it on social networks; post links to the lead magnet landing page on your social profiles and share it with your followers.
  • Send it to your email database; send a link to the landing page to your existing database. You might have their email already but maybe they’ve gone cold, this is a good way to get them warmed up again.
  • Insert links in content; If you’re already posting content to a blog or something similar, you can include links to the lead magnet landing page within this content to drive traffic through. The more relevant the content is to the lead magnet, the more success you’ll have with this tactic.
  • Use it for outreach (b2b); If you have high value products/services or operate in b2b, you could use your lead magnet as part of a direct outreach strategy. Create a list of targeted prospects on Linkedin, connect with them and them send them a message with a link to the landing page for your lead magnet (along with some nice words).

Final Word

By this stage you’ve hopefully developed an asset which is going to drive a done of new leads into your funnel. Regardless of how successful it is, keep creating! The more lead magnets you have the more new opportunities you’ll create. Create lead magnets for every different segment you target, and even create multiple lead magnets for the same segment.

Not every lead magnet will strike a chord with each specific prospect, but having multiple lead magnets will greatly enhance the likelihood that you’ll eventually strike a chord and get those valuable details!

 

The Lead Magnet is a critical step in the overall lead generation funnel. If you’re just getting started with building a funnel for your business, checkout the Lead Rocket Blueprint, a complete guide on building a killer lead gen funnel for your business. Get access now.