We all know that it is incredibly important to capture the email address of the people, that is why almost all of the sites have a little box like this :
Let me tell you something : this is not because you have a box “sign up to our newsletter” on your website that you have an email marketing strategy.
( by the way I love you, the gang from Quebec city in forms 🙂 hehe! )
This kind of box, converts usually less than .2% of the traffic. No need to tell you that this is not a very “efficient” to capture e-mail addresses!
To be able to convert its traffic and collect their contact information, one must use what is called a “Lead Magnet” or ” magnets to customers “.
If you are already familiar with this strategy, it is possible that you have a good idea of what you want to do or may be it is still blur a bit. My goal in this article is to help you generate the best lead magnet possible.
This is a step that is super important because a small variation in the effectiveness of your lead magnet can have long-term consequences quite important.
Let’s say your lead magnet allows you to convert 2 % of your visitors and that you have 10 000 visitors per month, it gives you 200 addresses per month. However, if it converts at 8 %, it’s going to give you 800 addresses. After a year, this is a difference of 7 200 emails!
And if you decide to make a landing page and use advertising to Facebook to generate addresses, your conversion rate will have a significant impact on your cost per address.
If it is assumed that we make a good advertising and that it is capable of generating 100 visits per day to 25 cents per visit ($25 per day), in a case it’s going to cost 63 cents per address, in the other it’s going to cost 93 cents per address.
To collect 1 000 addresses, the first scenario is going to cost 630 $ while the other is going to cost at $ 930, a difference of $ 300. If you gather 10 000 addresses like that, it’s $ 3,000 difference! And if you have the budget to make it to 100 000, that is 30 000 $ that you save if you give yourself the trouble to create a good lead magnet.
So, you calculated how many addresses you’ll earn more by increasing the conversion on your blog (with free traffic), or how much money you’ll save via your pub, I think we can come to the conclusion that the quality of your lead magnet is THE most important factor of your growth.
Your lead magnet, it is the centre of your strategy. This is the starting point, the first impression you’ll leave with people. It is with this that you will define your brand and build your audience. It is NECESSARY that you give yourself the trouble to create something that has value in the eyes of the people.
Your lead magnet is going to have value, the more it will be easy for you to get to know. It’s as simple as that.
In this article, I’m going to start by tell you about 4 types of lead magnets, because yes, it is possible to make something other than a (cursed) e-book.
Then, I’ll talk a little bit about the methodology that you have to take to find and test your ideas!
The 4 types of lead magnets
No matter what you offer to people, it can probably fall into one of these 4 categories. Either you give information, either you do a quiz, you give a cash incentive or you offer a product.
Magnet #1 – information
When I speak of giving information, I refer to give an e-book, a free report, a check-list, short, n’any information that will help the person through his quest for… whatever the topic of your blog.
It can also be a case study, statistics, the equipment you use for work, an interview… And it can be in several formats. Not obliged to keep it in text, you can give the audio or the video! For example, if you give lectures, you can offer the video recording of one of your conferences as a lead magnet!
This is what I’ve done with my conference at the academy Zero Limit.
Loving #2 – The quiz/survey
Then, you can do a quiz or a kind of diagnostic questionnaire. Tsay, the famous quiz on Facebook that say : “What kind of parents are you?” or ” What Star Wars character represents you the best? “.
Well know that this kind of quiz is very effective to collect email addresses.
The fact that the person answer a series of questions creates a momentum that will ensure that, when you are going to ask him for his email address, it will be natural to you to give it.
If it interests you, I have put a link to the tool WordPress that you must use to do this kind of quiz. He is paying (50 $). However, the alternatives are all really expensive (25 $+ per month).
It is not only the quizzes, you can also do a survey to get people to talk to you about a problem. At the end of this survey, you can ask people to leave you their name/e-mail if they want to receive content in connection with the survey.
A quiz , or an e-book may have a much better conversion rate, but it can be a good way of having his e-mail list quickly.
I tested it when I made my survey of industry on the e-mail marketing and I have a client who has tested in the tattoo industry. In both cases, I can say that the cost-per-conversion was quite high, approximately $ 1.50 per, but the quality of the responses is well worth often the worth it!
Magnet #3 – monetary incentive
Then, there’s the famous cash incentives. If you have an e-commerce, you can put a pop-up that says “register to receive the shipping free” or any other incentive that translates into money. I am aware that it is not everyone who has an online store, then it clearly applies not to the whole world.
Maybe, if you have a blog focused on a cause or a company that supports a cause, you could offer to give $ 1 per e-mail address to a humanitarian organization.
That being said, I don’t like very much what kind of incentives and I believe that you should stick away. If you need to give discounts to sell, or to be able to interest people, it is because your marketing is not good. In my head, the discounts is a bit like the way cheap to do his promo.
An acceptable alternative would be to offer a discount on the shop of someone else! This way, you offer value to your subscribers while not reducing the perceived value of your products to you.
I find that the idea of making a donation for each e-mail address is still cool! The person could even choose from a list that she wants to give and, once it has left his address, it could be offered to share on social media and I am certain that many would do!
Anyway, we will return to our sheep. We have one final type of incentive, and this is the product.
Magnet #4 – The product
When I talk about a product, I’m talking about as a physical product than digital. For example, if you are doing a blog for a company for which each customer is worth a lot of money, you’ll be able to deliver a pair of socks, a hat or other article promo that does not cost too much to do.
And it is not obliged to be systematic, you can do it take a month and make sure that your lead magnet to be a big contest.
And the digital side, you can give templates, scripts, images… it All depends on your niche, but I have already given of templates of the RESUME and templates Mailchimp. There are Excel spreadsheets also can be well.
In short, it will really depend on your subject and what people in your niche use in their daily life!
How to test your lead magnet
If I were you, here’s what I would do.
I would pour myself a survey for brainstorming and finding ideas in each of the 4 categories that I just mentioned.
You can make a table with 4 columns and force you to find ideas, information, quizzes, companies with which you could make a partnership to offer discounts, or products or tools that you could give to people.
Once you’ve made a good list, you choose the 4 or 5 ideas that seem to be the best and you create a new poll that you will publish on the social media.
This time, your survey will include 3 questions :
- Which of these things has the most value in your eyes?
- What monetary value is it that you associate to this product?
Of course, take the habit of ALWAYS asking name and email address at the end of each survey.
To collect responses, you can publish your survey in groups Facebook, LinkedIn, Google+ or you can even invest a little money in Facebook ads.
Once you have been 100 or 200 responses, you’ll have a good idea of what people really want to have. Make your choice in you based not only on the percentage of responses to the first question, but also on the justifications that people give to their response as well as the value that this option has for them.
If you want to go further, here’s a little trick: calculate the number of characters per answer with the LEN function on Google SpreadSheet. Once that is done, you can weigh the results of your survey in te, based on the quality of the justifications that people have data, multiplied by the monetary value that they give to this product.
It is a little complicated, but here is a spreadsheet in which I put the formulas.
Of course, it is far from perfect, but the score will give you a point of reference a little more objective to help you make your decision.
Once you know what you are going to do, it does you rest more than to put you to work and you hurry the more possible to create your lead magnet. I know that I can’t stop saying it, but it really is a step very important for any business.
The importance of thinking about monetization from the start
Even before you complete your brainstorm, it is necessary that you réfléchisses to a variable super important : the way that you want to use it to make money.
The fact that you may be able to sell anything to your list, depends mainly on the bond that exists between the reason for which they have subscribed and the product that you are trying to sell.
Your list is going to mainly serve you to sell your own products or promote the products of others through affiliation.
So, if you want to be able to sell anything, it is necessary that your lead magnet qualified people who are you going to try to sell!
We are going to take my blog productivity by example. Let’s say I want to sell a course that shows you how to work faster with Photoshop. This is just an example, I’m not going to really do that, but I just want you to see what I mean. So, if I want to sell a course on Photoshop, and it means that I must be sure to qualify people when they sign up, otherwise it serves no purpose to send them e-mails.
If I make a template in Photoshop as a lead magnet, it has a lot more sense if I do an e-book about the colors.
It may be that the e-book on colors is going to be more useful, but it may attract the wrong people.
And there, you’ll probably tell me that you’re aiming for a wide audience, then it makes no sense to nest the incentive. But that is because you do not know yet that every lead magnet SHOULD be accompanied by its own series of sales.
So, you can start with a lead magnet that offers a template photoshop to sell a course and, later, add a second lead magnet that will co-exist in a silo with your first.
A bit like what I do with my online courses. I have an incentive and a series of sale by court online. Once a series of sale ends, the person is proposing to change the silo and to embark in a new series of sales.
Here is an example of a strategy
To be able to generate income, you can create and sell a book on a particular theme. You sell a physical copy for around 29 $ on Amazon. The idea is not to sell a lot, the objective is simply to give him a good perceived value.
If it sells for 29 $ on Amazon, it must be because it is good! People will be super happy when you are going to offer them the opportunity to download the first 3 chapters for free!
Of course, it is the reminder by e-mail to offer them an electronic copy of the book for 10-15$, or investing in a bundle with videos and other material for 50 to 99 $.
Of course, it is important to validate the interest of using the method I have just explained.
Why start with a book?
Well, because to write 40 000 words for a book that will allow to cut the whole thing in twenty articles that you can then publish on his blog at a pace of about 2 per week.
In this way, one builds his newsletter, his product and his blog at the same time. Bam, bam, bam!
Of course, we need to be honest through it all. People should know that it is the same content. In order to encourage people to buy the book, it is possible to cut the items before the end, or even simply say that this is a free preview.
By “cut the items before the end” I want to say that if I explain something in 4 points, I can explain 3 free and complete dry by saying that the extract is complete and they have to buy the book to learn more.
If you are starting your blog from scratch, I recommend you strongly to opt for a similar strategy because this is what will give you the best return on your time!
So here it is! In this article, we have seen that there are 4 major categories of “lead magnet” that you can create to generate more leads, or information, quiz/survey, a monetary incentive or a product.
I then proposed some ways to test the effectiveness of its lead magnet before you have created it, and I explained the importance of thinking about monetization from the start.
We have seen that our ability to sell anything to a list that mainly depends on the link that exists between the reason for which they have subscribed and the product/service that you are trying to sell.
I finished by talking about an example of a strategy that you can use to create a product while growing his blog and his e-mail list.
I hope that you have enjoyed this article! In fact, it was supposed to be in my training on the creation of a blog. This is the script of a video that I’ve decided not to include, hence the tone a little different from my other articles.
This being said, please do not hesitate to share your lead magnet in the comments or ask me any question!