Once you set up your blog, you are ready to create to build a list of people who are hungry for your content.

It goes by many names…“lead magnet”, “freemium offer”, “free offer”, “freebie”, “ethical bribe”, “free gift”, “opt-in offer”, “pink spoon”…

For consistency, we’ll call it a lead magnet. If you are serious about building your blog as a business, you want to think about creating your lead magnet from the beginning.

What is a Lead Magnet?

A lead magnet is an ethical bribe where you offer something of value for free in exchange for someone’s contact information. Typically this will be basic information such as a name and/or email address.

So, how does giving away something for free help you make money from your blog? I’m glad you asked. Let’s take a deeper look.

How Your Lead Magnet Works to Make Your Blog Profitable

The way that online marketing works to make you money is – you build assets. Your assets will be things like products you have for sale, the content you create and the list that you build.

The reason why these things are assets is because they’re working on your behalf 24 hours a day, 7 days a week to help you connect with your target market no matter where they are in the world.

So, when it comes to building your business, you want to use your assets – all the content you create to help you generate a list of people who are interested in this type of content.  Your lead magnet is an asset created for you to connect with your audience to build your “interest list”.

Here’s how your lead magnet works to turn leads into money:

  1. Someone visits your site and finds value and wants more.
  2. Your visitor becomes a subscriber: They sign up! When someone signs up for your list, they are raising their hand to say, “I’m interested in this content and I want you to update me with future information related to this topic.”
  3. You guide them to buy. Based on the content  you give away for free, you keep in touch with relevant emails. Your objective is to provide extensive insight as a course later.

For example, you may give away a checklist on “How to Become Debt Free”, but on the back end you have a $47 program that covers “7 Key Things You Can Do Right Now to Pay Off 10k in Debt in the Next 12 Months”.

So you’ll always use your lead magnet to generate buzz and lead them to the product you want to sell.

How to Get Started Creating Your Lead Magnet

Here are 5 simple steps you can follow to begin creating a high converting lead magnet.

Step One: Identify Your Target Audience

They key to creating a high converting lead magnet is to ensure it’s tailored to the needs of a specific audience or segment of that audience. Take time to identify who your audience is and what they want most.  What’s keeping them up at night? Once you have identified WHO they are, next you want to know how to help them get what they want – and the quicker the better.

Step Two: Identify a Specific Problem You Want to Solve

Your free offer should provide a specific solution to a specific problem for a specific customer. This is so important. Everything you do should be for your audience. There’s nothing worse than creating stuff nobody wants.  

When you are just starting out, you really don’t know what they want. The best way to ensure you give them what they want is to get them to tell you what they want.  A great way to get this information is to use surveys.

A good strategy would be to give them your lead magnet in exchange for them completing the survey. Once they complete the survey, you will be able to determine from their answers, if they really want it or not.

Step Three: Identify What You Ultimately Want Them to Buy

The point of creating a lead magnet is to create a list of buyers. Your lead magnet should be based on your paid offer. So, whatever problem you are solving in your lead magnet, be sure that they can get more in depth help by purchasing your paid offer.

Step Four: Determine What Type of Lead Magnet to Create

Once you are clear on the specific problem you will solve and who it will be for, you want to choose the format you will use to deliver your information to your audience.

According to Digital Marketer, there are 9 common types of lead magnets.

  1.       Guide/Report
  2.       Cheat Sheet/Handout
  3.       Toolkit/Resource List
  4.       Video Training
  5.       Software Download/Free Trial
  6.       Discount/Free Shipping
  7.       Quiz/Survey
  8.       Assessment/Test
  9.       Blind/Sales Material

Be sure to check out these lead magnet ideas in more detail.

Step Five: Map It Out!

Once you have chosen a format for your lead magnet, it’s time to map out the content you will deliver. So, what do I mean by “map it out”?

Let’s say, for example, you are teaching people to become debt free, your lead magnet might be “5 Ways to Become Debt Free”. Then you might walk them through five points.

  • Point #1: Downsize your cable bill
  • Point #2: Change your cell phone carrier
  • Point #3: Start couponing
  • Point #4: Create a budget
  • Point #5: Tackle your largest debt first

For each point, give them specific instructions and tips they can implement right away to get the results or relief they are looking for.

2 Key Mistakes to Avoid When Creating Your Irresistible Lead Magnet:

Mistake #1: Too long /too much information: Keep it simple. You want specificity. You want to target a specific problem and that’s it.

For example, recently I started creating a FREE eGuide. And I realized after I started mapping it out, it was over kill. It took me two months to write. Clocking in at 60 to 70 pages…it was way too much information.

So, I slaved for two months, creating this guide, but it wasn’t a good lead magnet.

Why?

It was too much information.

So, I decided to convert it into a simple checklist. You learn as you go along, the key is to just get started. To get started, think about something you know your audience is really curious about and it’s relative to something you’re familiar with and you just map it out.

Keep it short and sweet. Ideally you want your lead magnet to be easily consumed within 2-5 minutes.

Mistake #2: Over thinking it: We tend to make creating lead magnets more complicated than they have to be. Your lead magnet is the entry point. It’s the appetizer. So, you’re not giving them the whole meal. It’s just a taste of what’s to come.  Plus, you can always change it later as you get clearer.

Psst…Here’s a Secret Shortcut to Cut the Confusion Out of Creating Your Irresistible Lead Magnet…

If the idea of creating your lead magnet intimidates you, just buy one. You can buy “Done for you Lead Magnets” using PLR. PLR stands for Private Label Rights. This means you can take the content and put your name and branding on it.  You can find topics from personal development, cooking, couponing and a variety of other topics.

Where Should You Place Your Lead Magnet On Your Site?

Finally, once you’ve created your lead magnet, where do you put it? You’ve probably heard that you should create a landing page for your offer.

But, the truth is you don’t have to set up a separate landing page for your lead magnet.

Here are a few shortcuts to placing your lead magnet so that people can easily opt-in.

  • Leadpages: Lead pages is known for the ease of creating professional and simple landing pages. But, they also have LeadBoxes that allow you to place simple opt-in boxes right on your website.
  • Convertkit: Convertkit is another tool that allows you to easily build your list.
  • Convertplug: Convert plug is a plug-in that works with WordPress to add opt-in forms to any blog post or page anywhere on your site. You can have the same form automatically populate at the end of each blog post. Or, you can swap them out and add different opt-in forms to promote lead magnets that are specific to the content you discussed in a particular post.

Your lead magnet is the door that begins the know, like and trust relationship that will inspire your audience to try, buy and refer you.

Once you have the right lead magnet in place, generating leads and making money from your blog will be incredibly easy and exciting.

Are you ready to start building your profitable blog?

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