How to grow your list: magic wands, recipes, dating, & lead magnets

Last week’s blog talked about the importance of email marketing. But in order to market to your email list, first you need people on your list. Ideally, the right people (not just your mom and best friend). The best way to get the ideal people on your email list - a lead magnet!

What's a lead magnet?

A lead magnet is like a magical wand that helps a business turn strangers into friends. It's a free piece of content or offer that entices people to give you their contact information, like an email address, in exchange. It's like a "try before you buy" for your business.

An online business can use a lead magnet in various ways, like creating a free e-book, webinar, or video course that teaches something valuable in their industry. Then, they can use it as a way to capture leads by offering the lead magnet in exchange for contact information. It’s also your opportunity to show what you know; to show your audience that you are an authority in the field, or that you are the guide that they have been looking for.

For example, imagine you're a bakery and you want to increase your email list as you’re about to launch an online baking class. You could create a lead magnet called "The Top 10 Secrets to Making the Perfect Croissant" and offer it for free in exchange for an email address. Now you have a warm lead who's interested in your baking class and you can continue to market to them.

It's like a dating game, but instead of buying someone a drink, you're buying them a croissant recipe and the currency is their email address.

The Best Lead Magnet

I’m often asked what is the best lead magnet. It’s not a secret that I’m partial to quizzes. But, the best kind of lead magnet is one that is directly related to the product or service that your business is offering. It should be something that the target audience would find valuable and be willing to exchange their contact information for. Some popular types of lead magnets include:

• E-books: These can be in-depth guides or white papers that provide valuable information on a specific topic.
• Free Training Series or Workshops: These are live or pre-recorded video presentations that provide education and value on a specific topic.
• Free Trials: A free trial of a product or service can be an effective lead magnet, especially for SaaS products.
• Checklists & Templates: These can be helpful tools that can save time and effort for the audience.
• Quizzes: These can be fun and interactive, and also provide valuable insights into the audience.

Ultimately, the most effective lead magnet is one that resonates with your target audience and aligns with your business goals. Ideally your lead magnet is something that can prepare someone to purchase your offer. Maybe it helps dispels any objections or concerns they may have about your offer (or their own limiting beliefs), maybe it’s the first bit of content that you cover, so it gives them a bit of momentum, maybe it’s a coupon so they get a discount on the price of your offer.

Your Next Steps

If a lead magnet is in your future, think about what will connect with your target audience, what can you give them that provides them with a ton of value and also gives you the chance to show them that you are someone that they want to stay connected with? And then think about in what kind of format you will provide it - a checklist, an e-book, a free training, a workbook, a webinar, a quiz? This all depends on how much content you have, if you want to provide something interactive, if you are comfortable on video, or would rather just provide a downloadable PDF.

There are a lot of factors to consider, but I also want you to think about this - progress is more important than perfection. Get something out there, start promoting it, and see how it lands. Are people signing up for it? Are people clicking on the link in your email when you deliver it? Let your analytics tell you whether this lead magnet is working. If so, great. If not, try tweaking it, or something new. In business, everything is an experiment, right?

By the way, below? Right here⬇︎? That's my lead magnet! Check it out!