As I shared in a previous post on how to build your buyer, seller (or any other list for that matter) lists, using a "Lead Magnet" is a great way to give value to your ideal customer, while getting their email address so you can build a relationship with them over time.
Lead Magnets are usually free-gifts that prospects can download automatically and they're used to giveaway Goodwill first, before you ask them to buy from you.
Lead Magnets are also a great way for you to test different offers/ free gifts, analyze your results, and then scale your list-building efforts once you've found a winner.
Yes, this is different than simply trying to sell your core product from the very start, without any prior "warm up" conversation with your prospects, but... that's because this is long-term thinking v. short term.
Think about it:
Be honest: You immediately lose respect for them, an no longer trust or like them.
The good news is there is a better, more enjoyable way to build your business that both you AND your prospects will truly enjoy, and... that will be far more profitable.
Give value first ...withOUT expectation of anything in return by giving away a valuable Lead Magnet like I do. If you do, you'll be simultaneously building your prospect (soon-to-be-customer) lists on autopilot.
At GreatRentBuy.com, I give away a free list of homes nationwide that tenant-buyers can lease with the option to buy the home in the next 1-3 years.
Here's a quick bullet point of the value that my subscribers immediately get:
As you can see from the list of benefits above, my niche (tenant-buyers) are getting both high-perceived (and actual) value when they opt in to my list.
It's a "no-brainer" for them when I ask them to "opt in" to my list.
And thus... I have a 88% opt in rate.
Your business' success (or failure) is determined by the "health" of the relationships you have with your lists, your prospect/ customer base, meaning, the regular and ongoing value that you provide them.
Neglect to build or maintain your lists, and you'll always have to "hunt" for new customers and use high-pressure sales tactics that make the process miserable for everyone.
Why would you ever want to create a business model where you have to continually "hunt" for new leads (only), and... never follow up with people who have expressed sincere interest in your products/ services, or better yet, have already bought from you?
Answer: You wouldn't.
The best business model is one that first seeks to giveaway Goodwill through high-perceived value (and high-actual value), and then, after having done that, you as the professional have determined you really can help your prospect solve their problem(s).
Then, and only then... you ask for the sale.
So... what qualifies as a "good" Lead Magnet?
After all, if you build a Lead Magnet, you want it to convert your "cold prospects" into warm prospects, then, into "hot buyers," right?
Of course you do.
Here's the philosophy I always consider when building out a Lead Magnet:
For every $1 spent with me, my customer will (without exception) get $10 of value in return from me.
I've used this model many times when building Lead Magnets (which I'll show you in a minute), and for that matter, when I'm building an entire business.
Because when my customer can say to me, "WOW! Thank you so much! I didn't think I was going to get all of this for so little!" ...I know I've got a customer for life, and I do not have to be like the rest that are constantly chasing their prospects and looking for new customers out of desperation.
The prospecting process become super easy...
Not to mention the fact that...
Only losers beg, plead, and chase their prospects.
Below is a screenshot of one of my GreatRentBuy.com opt in forms that builds my buyer's list on autopilot and that consistently brings me a 88% opt in rate:
I personally only ask for an email address at first. I do not ask for their first name, last name, address, phone number, etc.
The fact is, the more you ask for upfront, from a complete stranger mind you, the less new subscribers you'll get.
Remember, your new subscriber does not know, like, or trust you yet, so they are already worried that you're going to sell their email address or other personal contact info and then not deliver on your promise.
Don't ask for more than their email (at first).
This will dramatically increase your Opt in rates, and will build your lists faster. Later, you can have other offers that your autoresponder will serve up to your subscriber list that ask for more information, but... that's later, after trust has been built and real value has been given.
Stay tuned, as I'll write more posts that will revisit this one, and that will go into more depth on what makes a good Lead Magnet convert on the front end.
We'll take a deeper look at things like the headline, ad copy, Call-To-Action (CTA), and more.
Let me know what you think in the comments section below. I'd like to hear your thoughts.
Russell and Diana de la Peña
P.s. If you'd like to get help with your ad copy, with your squeeze pages, your sales and marketing funnels, and more, let's connect.
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