7 “Conversion Busting” Lead Magnets

The #1 thing you need to master as a business owner or blogger, is conversion.

You have to know how to convert normal, everyday traffic to leads and prospects.  It doesn’t matter if your visitors are coming from the search results, paid traffic, referrals or affiliates – knowing how to get them on your email list is key, so you can market to them effectively in the future.

Today, I’d like to share a list of lead magnets that we use in our various businesses, that have been proven to work time and time again for turning traffic to sales…

Report or Guide

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The ‘report’ is the standard lead magnet for good reason – it works!  In fact, we’ve found that oftentimes a report or a guide will get cheaper, higher quality leads than a video ever will.

Things to watch when it comes to PDF downloads are:

  • You MUST, MUST, MUST deliver value.
  • Your reader should have the ability to DO something contained in the report that will give them gratification of some kind.
  • There should be at least a little bit of bonding that takes place in the report, so your new lead gets to learn a little more about you!
  • A good length for a free report is 8 to 12 pages, normal spacing and typefaces.
  • Most important of all - it needs to focus on ONE specific, clearly identified problem!

With reports, the more clearly you state the benefit, the better your conversions and lead costs will be.

Something vague like “Triple Your Business In 90 Days” doesn’t really tell a prospective reader what they’re going to be investing time into reading…  However, something like “8 Ways To Properly Segment Your Email List For Maximum Open Rates” is quite a bit more powerful.

Cheat Sheet or Process Map

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I love process maps, because they cut through a lot of BS real quick.  More to the point – your prospects will love process maps even more!

In a lot of instances, the sequence of events is what trips people up when they’re trying to accomplish a certain task, be it setting up a website or editing a perfect black and white photo.

By outlining a complicated process and breaking it down into small, easily understandable chunks you’re doing your folks an incredible service.  They’ll know that you:

  • Have the 'process' down to a science (increasing trust...)
  • Are able to perform that process for them or teach them how to do it themselves

Both of those outcomes lead to more sales for you, in a very short amount of time!

Software

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I love software.  Software was what I was meant to do with my life, and I’m just now finding that out.

Our main software tool is TimeSlots, a sales call scheduling software…

The beauty of software is that it’s core function is to solve a problem for users, instantly.  Plus, there’s an immediate gratification element to it that can’t be matched.

The best way to turn your software into a lead magnet is to have a ‘No Credit Card – Free Trial’ set up.  They get full access to all of the features of your software, and after 7 days or 14 days they need to join to keep using it.

What’s funny is people expect to pay for software.  They just do.  They want to know that they’re investing in a solution that will be around for a long time, which is awesome.

It also means that by giving away free accounts for the first 14 days or so, it holds a LOT of value to them!  If they use it, they start paying.  If not, they just abandon their account.

I could go on forever about the philosophies of on-boarding users correctly and the processes that need to take place for that to happen, but I think I’ll save it for a later post :0)

Checklists

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Much like ‘Process Maps,’ checklists are awesome tools for describing a set of actions that someone needs to take to accomplish a task correctly, without actually giving them the tools and the training to do it…

The 2X checklist is what we gave away in our 2X Webinar here!

(After all, we do want to convert them to a sale at some point, right?)

With a well thought out checklist, you can demonstrate that you know the material inside and out, and also point out things that your prospect might be missing!

This is great for getting them to raise their hand and say that they need your help!

Videos

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One of the ways that a lot of marketers try to get leads is to give access to a ‘free video.’  From experience, I can tell you that sometimes it works…  And sometimes it doesn’t.

If you’re demonstrating something that’s highly visual, like training a dog, swinging a golf club, adjusting a camera for the best portrait, or building something out of 2×4’s, then video is a good medium to share that content.

If you’re doing something that’s NOT visual, like talking about marketing strategy, explaining the big benefit of life coaching, or teaching someone how to ward away panic attacks – a video lead magnet is a bad way to go.

The point of video is to move them along in the sales process, and it’s almost impossible to do if the video isn’t engaging.  You’re far better served to choose some kind of PDF download that you can give away…

Tutorials

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I’m a big fan of point and click tutorials for teaching like we have in Lead Fire – and they make excellent lead magnets.

In fact, I can’t tell you how many people have emailed me saying the printed them out and rely on them every time they need to set up a new campaign or a new website.

As further evidence of this, one of the biggest tutorial sites online is Envato Network’s TutsPlus.  For years, they’ve put together incredible tutorial sites, and now they’ve got so much content that they’ve put a big ecourse kind of wrapper around it, making it a HUGE challenger in the digital course space!

Quiz or Survey

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And finally, quizzes and surveys.

What’s funny is that quizzes and surveys have been around forever, and marketers are just now touting them as the ‘best way to engage users’ because you can get feedback from your readers a bit differently.

Years ago, we called this list segmentation…  When someone fills out a survey and selects (A) as their choice, they get put into one autoresponder.  If they select (B), they get put in another autoresponder.

That’s the crux though…  When you use a survey as a lead magnet, your lead conversion will most likely drop…  But your engagement will be a lot higher, meaning you’ll have better quality leads!

It’s worth testing.  I’ve seen campaigns that use surveys so effectively that it doubles optin rates.  I’ve also seen campaigns where conversions were below 10% (which is dismal!)  It’s all in how you set them up!

A great tool to get started with these is Interact.

Your Thoughts?

Tell us, what types of lead magnets have you used in the past?  There’s all kinds – these are just the ones that we use most often…

Any questions you have, just let us know in the comments below!

3 Comments

  • Sherman Smith

    Reply Reply June 13, 2015

    Hi Jason,

    So far I’ve written 1 ebook and although I was excited when I finished it, I still wasn’t getting the # os subscribers that I wanted. A lot has to do with my CTA which I’ve been testing for the last couple of months. I see that the more detailed I was the more conversions I got. So that says a lot. I will look into the other strategies you mentioned here.

    Thanks for the share! Have a great weekend!

    • Jason Drohn

      Reply Reply June 18, 2015

      Hi Sherman!

      You’re absolutely right – the more detailed and ‘granular’ the better. It always pays to be ultra-specific for the initial conversion. Then, as the offers can be more general from there!

      Thanks for the comment!

      — Jason

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