If you did nothing but 10x the effectiveness of your lead magnet, you will 10x the sales of your business.
The Lead Magnet is the MOST important part of your funnel. If you have a low converting lead magnet then your entire funnel will be low converting.
What a Viral Lead Magnet is Not
There’s a very specific strategy where a lead magnet fits in your funnel.
Most people I talk to, unfortunately, get this wrong.
Let me ask you, do you offer any of these as your lead magnet?
- Free consultation
- Webinar registration
- Multi-day challenges
- Multi-day free course
If you do, you will spend a lot of money and have a hard time scaling your business.
Even though you are providing value first with these types of lead magnets, they are… boring! People have seen these before and they don’t know you well enough to care or stick with it.
They are also difficult to consume. They end up in a folder somewhere and folks with good intentions say “I’ll read that later”. In reality, the majority of them never do.
This results in a dead end.
You created great content, you advertised it, you got a lead, and then…
Not enough people advanced through your funnel and you didn’t make enough sales.
I’m telling you, getting this one piece right can result in explosive growth! So let’s explore what 2. a Viral Lead Magnet actually is and how you can create one.
What a Viral Lead Magnet Actually Is
I’ll keep this super simple; the most successful and viral lead magnets have the 5 things in common:
They solve ONE important problem in advance for your audience. A problem they are hungry to find a solution for.
They are quick to consume, in 10-minutes or less
They are an evergreen resource
They are one piece of the puzzle – Don’t bombard your reader with too much content. Solve one problem, but show them that it is one part of a bigger puzzle for the solution they are looking for. Resist giving people too much value or they won’t feel like they need your paid product.
They have a clear next step – now that they understand this is one piece of the puzzle, clearly tell them the next step. It could be a webinar registration, get on your calendar, come to your shop, etc. Think about what yours would be.
How to Create Your Viral Lead Magnet, fast
Don’t think about your Lead Magnet in isolation. It’s important to design your freebie as part of a strategy, leading into the sale of your product.
You want to start with your product first then reverse engineer the right Viral Lead Magnet
Let me show you an example.
One of my clients was selling an entry-level course for $97 for non-profits. He thought about what he could offer as a viral lead magnet. One that would give subscribers a taste of value whilst showing the need for his bigger product.
He came up with a fundraising letter template that brought his mission over $20,000 of donations.
His lead magnet had all 5 elements mentioned above. It solved one problem his audience was hungry for, was quick to consume, is evergreen, is one piece of the puzzle, and had a clear next step (to join him for an online masterclass, that will then sell his course).
Step 1: Choose something that really helps your prospect in advance. A solution that they can solve TODAY!
First, you want to choose something that helps your prospect either: – overcome a very specific challenge, frustration, problem or situation they’re having in their lives right now – or helps them achieve a specific result or outcome that they want.
Here are some examples:
- 3 Games Your Kids Can Play So You Can Take a Long and Relaxing Shower
- Grab my Fundraising letter template that got us $500,000 in donations
- Use These Viral Lead Magnet Templates to 10x your Sales Funnel
- Top 3 Exercises for Burning Body Fat in Less Than 10 minutes a Day
Step 2: Brain Dump & Choose a Format
Brain dump all of the content related to the topic of your lead magnet. It’s not required to know all the information, but you do need to be resourceful.
Go ahead, dump and categorize. Then think about how everything you found will fit together in a format that is easy to consume, such as:
- Swipe files
- Resource lists
- Buyer’s guides
- Step-by-Step blueprints
Step 3: Craft a Killer Title
Success here lies in specificity:
Speak to one ideal client, sometimes called an avatar, with one promise to one problem in a specific time frame.
Feel free to use the following fill-in and proven Lead Magnet Titles.
Fill-in Title: The <Avatar’s> Cheatsheet for <Specific Result They Want> without <Stuff They Hate>
Example: The Divorce Lawyer’s Cheatsheet for Generating 9 New Clients without spending more on advertising.
Fill-in Title: Top 3 solutions for <Result They Want> in less than <Timeline>
Example: Top 3 Exercises for Burning Body Fat in Less Than 10 minutes a Day
Fill-in Title: How to <Result They Want> in less than <Timeline>
Example: How to Write a Killer Lead Magnet Title in less 60 seconds
Step 4: Add the Wow Factor
Make your lead magnet look good, so it establishes trust and credibility with your brand. You don’t have to go overboard, but take the time to care enough to make it look good.
Canva.com is a great starter resource for any of your design needs.
Step 5: Create a Read Magnet for Lead Magnet
What you are reading right now is the read magnet of my lead magnet.
A read magnet is jaw-dropping. It is mind-blowing. It is clarity-producing, daddy of content that solves the one struggle most of your audience faces.
Read magnets are public and should not be gated. In other words, don’t ask people for their emails to access your read magnet.
The goal of this is to attract a person who doesn’t know who you are and drop some mad knowledge.
This way, they will start to know and like you because you are different from everyone else. You didn’t hold back on actually solving an issue they have.
Then, they will start looking at you as a thought leader and when ready they will think: “Ok. Take my money!”
Read Magnets don’t have to be blog posts. It can be a podcast, a Facebook live, a talk, any content you feel comfortable with. But you can’t hold back and you need to get in-depth on how to solve the problem.
Step 6: Promote Your Read Magnet
For this blog, I am assuming you have a nurture sequence following the download of your lead magnet.
If so, then now you’re going to promote your Read Magnet instead of your Lead Magnet.
When you do these 6 steps, I assure you your cost per opt-in will go down. You will have a lot more leads wanting to work with you, and buy what you’re selling.
What’s something that your audience is hungry to learn that can be solved, fast?
Once you answer that, then:
- simplify it in an easy to consume format
- give it a killer title
- make it look good
- create a great read magnet
- promote read magnet.
Get Your Juices Flowing…