Why Your Lead Magnet Isn't Converting
A lead magnet is a freebie (a free PDF, mini course, video, class, workshop, guide, workbook, etc.) that you offer in exchange for an email address. It's a great way to grow your email list quickly, but only if it's done right. Why is growing your email list important? Well, for starters, these email subscribers are what I’d consider a “warm lead.” These are people who have entrusted their personal email address, giving you permission to pop in their inbox on a regular basis. This is how and where you can nurture leads to become buyers and fans. If you’re not growing an email list, you’re leaving money on the table.
So, how do we grow that list? Lead magnets, freebies, opt-ins…they all mean the same thing. If an email address is like currency these days, then the power of your freebie can attract the right people into your sales funnel, allowing your content to have a higher likelihood of being seen. No more battling the algorithm! YOU own your list!
But…if your lead magnet isn’t not converting, people aren’t opting in, then you may be missing an opportunity. I see so many service based business owners making this same mistake with their lead magnets and it's costing them dearly. Keep reading to find out what that mistake is and how you can fix it.
The #1 Reason Your Lead Magnet isn't Converting
Let’s not beat around the bush. You’re running a business, hustling for leads and trying to hit the bullseye in reaching your ideal client. So, let’s get to the root of the issue quickly, cool?
The number one reason your lead magnet isn't converting is because it's not irresistible. In order for someone to hand over their email address (which is like currency these days), they have to be getting something that they absolutely cannot live without.
Think about it this way, if your lead magnet was the last one on earth, would someone be willing to fight you for it? If the answer is no, then it's not good enough. Your lead magnet needs to be something that solves a burning problem for your ideal client or makes their life 10x easier. Like an insider scoop they only get in working with you, the secret sauce, the hidden solution to a massive problem that can’t seem to find the answer to.
What were the issues you were Googling and searching YouTube for that you can now be the source of that answer for someone else? I know you’ve got it!
Can I add one more reason here to the annoyance of non-converting lead magnets? I know you’re loving this. 😉 There could be confusion by your audience because you’ve launched too many lead magnets or you’re not giving the one you have launched enough time to really test the waters. Don’t be an “eager beaver” and jump from thing to thing without a thorough timetable of testing and feedback. Your audience needs to build trust with you by gaining a win with this lead magnet. It.takes.a.minute, friend!🙃
How To Create an Irresistible Lead Magnet
The best way to create an irresistible lead magnet is by surveying your audience and finding out what their biggest struggle is. I can’t emphasize this enough. Our existence as a business owner is to help solve a problem someone is having, which means we need to listen, respond and give them the solution they’re looking for. Once you know what that is, you can create a lead magnet that solves that problem.
For example, if you're a bookkeeper who specializes in helping your clients understand their numbers and cleaning up their accounting , your audience might say their biggest struggle is knowing how and where to categorize their financials inside their own booking software..
You could then create a lead magnet like the “Top Mistakes Every Entrepreneur is Making in their Bookkeeping" that outlines these key categorical mistakes and how to clean them up. This would be an Irresistible lead magnet because it would be solving a very specific problem for your ideal client.
Don’t overcomplicate. Don’t give them too much. Remember, you’re the expert so your well is deep. What’s going to help them take the next step? Get them a quick win? Help them solve a problem? Go with that and make something incredible that’ll wet the appetite and have them running back to you for more! Lead magnets help you build trust with your audience!
A few extra tips?
Have a strong landing page with a solid header. Elicit emotion from the person that visits your page with that header so it entices them to need what you’re sharing.
Ensure your funnel is set up and working properly. How is your freebie delivered? Are they accessing it right away?
Have a follow-up email series in place to check-in on how that freebie is helping them. Perhaps give them a next step or 2 to do next (i.e. work with you!).
How often are you really promoting it? (and I don’t just mean it’s sitting in your LINK IN BIO and no one’s visiting your landing page. 😉) Are you talking about it? Are you sharing the value of it regularly?
If your lead magnet isn't converting, the number one reason why is because it's not irresistible. In order for someone to hand over their email address, they have to be getting something in return that they absolutely cannot live without. Remember, you’re the expert helping them solve a big problem they’re having. Sell the transformation, not just the problem itself. The best way to create an irresistible lead magnet is by surveying your audience and finding out what their biggest struggle is. Once you know what that is, you can create a lead magnet that solves that problem.
Need some additional help sifting out a lead magnet? Either grab a Power Hour and I can help coach you through it, or let’s do some Marketing Coaching! Either way, we’ll get you moving ahead in no time!
