Every business owners whichever niche or industry you are in should be focusing on growing your mail list, and the best way to grow your mail list is to create a lead magnet.
Lead Magnet – noun – an irresistible bribe offering a specific chunk of value to a prospect in exchange for their contact information. Source: www.digitalmarketer.com
Lead Magnet = Free Product!
Here are some of the example products you could create for your lead magnet:
• Video Series
• Audio Series
• Email Courses
• Live Webinars/Workshops/Masterclass
• Recorded Webinars
If you are already offering free products but they are not converting (people not opting into your free product) as you expected or losing a significant number of leads in a short period of time, then you may be making these following mistakes.
Theses are some common mistakes I see with many new coaches and other service-based entrepreneurs:
#1 NO MARKET RESEARCH
I see many new coaches and other service-based entrepreneurs creating their free product based on what THEY want to offer and create and not based on their ideal client's needs. As a result, when they are promoting their free product, nobody actually wants them. And that leaves them without any leads when it comes to selling their paid products or services.
#2 POOR QUALITY PRODUCTS
This is also common. Yes, you could have an amazing copy for your landing page (where people opt-in for your free product) and have people opting into your mail list to receive your free product, but I assure you if your actual product is poor, they will unsubscribe straight away. Remember, the aim of the lead magnet is to get people on your mail list and stay, and ultimately become your paid customer/clients!
#3 SAME CONTENT AS OTHER COMPETITORS
Are you creating the same old content as other coaches out there? A core principle of my business is to give 3 x more value than other competitors. Create something new and unique to you.
#4 NOT PROMOTING IN THE RIGHT PLACE
If you are not promoting in the RIGHT places, where your target audience hang out, you are missing out on potential clients! Be strategic about it.
Now that we know what NOT to do, here are the 5 steps to creating a powerful lead magnet that stands out from your competitors so that you can grow your mail list FAST!
STEP 1: MARKET RESEARCH
Easiest way to do this is to ask your community what they need help with and what they would like to learn. If you haven’t got a large community, ask your ideal client in other groups (choose Facebook groups where your ideal client may be hanging out). I would give them some topics to choose from. Be specific with the subject of the topics and make sure you include what results would be achieved. For example when I asked my community for the topic of the 5 day challenge I hosted a couple of months ago, one of the choices was “How to position yourself as an EXPERT in your field and enrol high-end clients”
If you are not receiving many responses from your own community or by asking questions in Facebook groups, you can type in keywords related to your niche into the search bar in those Facebook groups. Scroll through the results and pick out frequently asked questions and problems and add them to a spreadsheet.
STEP 2: WHICH FORMAT?
Once you’ve decided on the topic, ask your community again how they’d like it to be delivered – is it a recorded video? E-book? Livestream? Challenge? If you already know how you want to deliver your free product, you can skip this:) Have a think about the end goal for creating this lead magnet. Is it to build your mail list (and yes this should be your main purpose!)? Is it to bring people into your Facebook group? Is it for your new program launch?
STEP 3: GIVING VALUE
Ask your community what are their biggest challenges within that topic so that you can make sure you include all the answers in your content. I used to ask my community what they needed help with and got them to choose the topic they wanted. I never followed up on that and I probably ended up creating a free product that didn’t solve their struggles. You need to provide real value to ensure their questions are answered.
STEP 4: MORE RESEARCH
Research other freebies with a similar topic that are already out there. Sign up to them and check them out! Make sure you make it 3 x better than the ones already in the market. Add EXTRA value and make it unique to you.
STEP 5: CREATE!
Create your free product! This is my favorite part of the process. BUT don’t rush this process. I know it’s a freebie but you want to create it as if it’s a paid product. Remember to give 3 x more value!
Things to consider:
I created my latest free product with a help from my VA. Creating a great free product can take some time and there’s no point rushing and end up with a poor quality product. So if you are limited in time, I would consider hiring a VA to help you with content, layout and design.
I would also consider making your product as user friendly as possible. If you are creating a workbook, you may want to make it fillable using Adobe Acrobat DC (alternative DocHub). I also love using Canva (alternative Picmonkey) for graphics and design. If you are creating a video, you may want to consider download option or audio only version as an extra. Get creative:)
So you’ve created your new free product, now what?
First, you’ll have to create an opt-in page (landing page) so that people can sign up and receive your free product. The landing page is a single page with ONE call-to-action, which in this case, is signing up to receive your free product.
I highly recommend LeadPages* (a monthly subscription fee applies) which I use for my own landing pages, opt-in form and sales pages for my services and products. You can design pretty sophisticated landing page with LeadPages! As an example, here is a link to my landing page for one of my free products.
There are different templates you can choose from and it’s easily customizable to suite your own brand. Also you can easily integrate this with your email service provider such as Mailchimp, Convertkit* and Active Campaign*.
I recommend your landing page to include the title of your free product and who it is for right at the top of the page. Then add a call to action button to lead to an opt-in form followed by bullet point of the benefits and results people can expect from the free product. You can have a look at an example of my landing page below.
You’ll also need to create a “Thank You” page. A “Thank you” page is where subscribers are re-directed immediately after they opt-in. You can either create a “Thank You” page on Leadpages or on your website. Your “Thank You” page is another opportunity for you to promote or upsell your services/product. Here is an example of my “Thank You” page.
Once you have your beautiful landing page and opt-in form, it’s time to promote your free product and see your mail list grow!!
Don’t just let your new free product sit on your website hoping to be found by chance (by random people).
DOWNLOAD YOUR FREE LEAD MAGNET WORKBOOK!
Let’s take a look at some different places where you can promote your free product that will help grow your mail list FAST!
#1 FACEBOOK GROUPS
Create a short sales post to promote your free product in your own Facebook group and other Facebook groups where your ideal client may be hanging out.
Create an image with some text that explains either who it is for or the results they can expect from your free product. Or you could simply have a title of your free product!
For the short sales post, start with your ideal client’s pain points followed by benefits and results. Then add a call to action with a link to your landing page.
#2 SEND A SOLO MAILER TO YOUR MAIL LIST
Many people tend to forget emailing their mail list to let their subscribers know about the new free product they have just launched. Yes you may already have their email addresses but you can also put them into a new sales funnel and potentially convert them into paying customers/clients.
#3 ADD A LINK TO YOUR LANDING PAGE IN THE BIO (PROFILE) SECTION IN OTHER SOCIAL MEDIA PLATFORMS
Facebook’s Personal Profile Pages have an “intro” section where you can add a short introduction or tagline. It doesn’t allow you to have a link in this section but you can still add your link to the landing page for your free product. If people are interested they can copy & paste the link into the browser.
Facebook’s Business Page lets you add either a short or long description where you can add your link to the landing page. You can also add a link to either your opt-in form (if you are using Leadpages) or the landing page to “sign up” button on your page. If you are using Leadpages, you can publish your landing page as a Facebook page too and this will appear on your tab.
Instagram have a section where you can place your website link. Replace your website address with the link to join your group. Note that Instagram does not allow any links in the post or the bio (profile) section.
Twitter allows you to add a link in the bio (profile section) on your account. I suggest adding a link to your Facebook group in the bio section.
Pinterest is similar to Instagram and will not let you add link in the bio (profile) section although you'll see many accounts have their call to action within their bio section. You could however replace your website address with the link to join your group (this step is similar to Instagram).
#4 PROMOTE IN YOUR FACEBOOK GROUP DESCRIPTION
Add your free product offer and link at the top of your group description. As an example, this is how I start my own Facebook Group description “Get instant access to my library of FREE RESOURCES for NEW & ASPIRING online entrepreneurs >>”
#5 CREATE MULTIPLE OPT-IN FORMS ON YOUR WEBSITE
These are some places you should try:
- Header or above the fold of your website
- Header or above the fold of your website
- Side bar
- Navigation bar
- Pop-up opt-in form
- Within the blog post – if your free product is relevant to your blog post.
- Underneath the blog post
#6 FACEBOOK ADS
Facebook ads are a great way to promote your free product. Create both short and long copy to test them out, as well as a couple of images. Or you can create a short video which apparently works very well! Make sure you select “web conversion” when you create a campaign (see below). You’ll then need to set a tracking pixel for your account and copy & paste it into your “Thank You” page so Facebook can track the number of conversions. Watch this YouTube video tutorial if you don't know what tracking pixel is and how to create one!
You’ll probably have to make some tweaks to your copy and image as well as your target audience before you start seeing the results on Facebook Ads. However, once you have worked out what works best for your business, you’ll see a return on investment fairy quickly.
If you have an e-book already published on Amazon, you can use your free product as a “reader magnet” on your e-book. This was tested by my entrepreneurial friend on his e-book “Career Change” and he added many subscribers organically using this strategy. Basically, you promote your free product within your published e-book with a link to either your landing page or an opt-in form.
If you are planning to publish an e-book on Amazon in future, I would suggest creating a free product that is relevant to the proposed topic of the e-book.
Are you ready to create your free product?
I have a perfect workbook to help you get started!
DOWNLOAD YOUR FREE LEAD MAGNET WORKBOOK!
*Please note that any links marked by an asterisk (*) are affiliate links and I may earn a commission if you click them and make a purchase (at no cost to you).
Do you have any questions? Share your questions in the comments below!