Do you need more leads?
Ever feel like the proverbial hamster on a wheel constantly chasing new business?
Do you find sales results can be erratic, with some months great and others scarily low?
By Suzi Dafnis, Australian Businesswomen’s Network
If any of this sounds familiar, you’re not alone.
Most business owners rate lead generation and sales as their biggest headaches.
In fact, when we survey our community of more than 20,000 businesswomen, Lead Generation always tops the list of current business challenges.
It’s a constant problem and those peaks and troughs in sales can really play havoc with your cashflow and create a lot of unwanted stress.
One innovative solution to this problem that we at the Australian Businesswomen’s Network have found is working better than any other strategy we’ve used in a long time is to create “Lead Magnets.”
Lead Magnets are tantalisingly attractive and valuable offers you make to your audience for free in exchange for their contact details.
Examples of lead magnets include:
- eBooks
- Checklists
- Free Trials
- Videos
- Infographics
- Quizzes
- White Papers
- Tools and calculators
Why Lead Magnets?
It used to be that people had very few options when it came to finding out about a product. They requested a brochure / visited a showroom / consulted the Yellow Pages.
But in the last 5 years there has been a seismic shift in the way your customers are buying from you.
In 2010 the average customer consulted five sources of information before purchasing.
By 2013 that number had more than doubled to twelve sources of information.
What that means is that, in many cases, your customers are now making their buying decisions without ever contacting you.
Essentially, the buying conversation is happening on Social Media when your customers ask their friends for a recommendation, or they search Google or YouTube for product information and advice, or they consult a peer review site like Yelp or Trip Advisor or download an eBook.
For example, a report by Forrester Research found that your customer could be as far as 60 to 90% of the way through their buying journey before contacting you.
You’ve Got to Get Into The Buying Conversation EARLIER
You need to make sure you are present in the places where your customers are currently looking for information on your product. And not only that, you need to be seen to be providing valuable information so you can become a trusted source of reliable information that will ultimately lead to a sale.
Where are YOU in the new Buying Conversation?
If you’re not currently showing up on your customer’s radar early enough, offering a value-added lead magnet will help you:
- Find your customers earlier in their Buying Process
- Influence the Buying Conversation
- Get more sales
Five of the Most Effective Types of Lead Magnets You Can Offer Your Prospects
1. eBook
This is one of the most well-known and popular types of lead magnets.
The key with your eBook is to keep the solution you are offering simple. That is, you don’t want to create an eBook offering “99 Ways to Grow Your Business”, because that just seems like too much work for your prospects.
Instead, you want to make sure your solution feels achievable and easy for your ideal client to do.
For example, this recent Australian Businesswomen’s Network eBook offered research and information on the ONE THING Australia’s top business women do to succeed:
2. Infographic
Gaining popularity as a lead magnet over the past 12 months is the Infographic.
An Infographic is basically a visual representation of key information or data and it can be highly desirable as a lead magnet because it has a low “barrier to entry” – that is, your prospects will be able to easily consume the information and they will be very inclined to “opt in” to gain access.
3. Quiz
Quizzes are rising in their popularity as a lead magnet because they have excellent potential to be more “viral” than other types of lead magnets (due to the fact users often want to share their results on their Facebook feed etc, which in turn, attracts more people to take the quiz and so on).
In fact, 8 of the 10 most shared articles online in 2014 were quizzes. And the number one article on the New York Times web page in 2013 actually wasn’t an article… it was a quiz.
4. Cheat Sheet / Checklist
Cheat Sheets and Checklists are a great way to offer a lead magnet because they can be very easy to create.
Cheat Sheets and Checklists are designed as easy to use, quick downloads people can keep on hand to perform a specific task eg close to their desk (in the case of say a computer program cheat sheet) or take with them to the gym (in the case of a workout checklist).
5. Tool
If you have a business that lends itself to offering some kind of tool to make the life of your prospects easier in an area that compliments what you sell, you may want to consider creating a tool.
Tools can vary from simple spreadsheets (e.g. a Social Media Calendar if you are a social media expert), a calculator (e.g. a specific financial calculator if you offer financial advice), an app (e.g. an ovulation tracker if you are a fertility expert) or even a physical product (such as a low-cost pool tester if you sell swimming pools).
In this example, a fitness expert has created a BioAge Calculator to attract his ideal clients onto his database where he can then offer additional services:
There are tons of other Lead Magnet options, such as directories, free trials, white papers, membership, video trainings, audio programs, webinars, free consultations, recipes and more.
And, according to our Lead Magnet expert and presenter of the 3-Part How To Turn Your Business Into a Lead Magnet Crash Course, Michelle Falzon, who has produced dozens and dozens of campaigns using lead magnets, there are specific factors you need to consider when choosing the type of lead magnet best suited to your campaign.
Michelle will be taking you through a step-by-step process for choosing the right lead magnet when you join in on the free How To Turn Your Business Into a Lead Magnet training.
Simply go here to register now
Registrations for the free course close at midnight on Thursday, May 7th, so act now to secure your spot.