July 11, 2019

#271: How to Create a Profit-Driven Lead Magnet to Boost Sales

42 minutes

If you’ve been around for a bit, then you know my motto is always be list building. Now, while there are all kinds of list-building strategies, there’s one that's by far the easiest way to grow your email list, and that's by offering a lead magnet.

Through all of my endless list building experiments, I’ve learned how to create incredibly valuable pieces of content, like cheat sheets, guides, and mini-trainings.

But do you know what kind of lead magnet is the best, hands down?

A profit-driven lead magnet.

Now, I know what you're thinking... "Amy, a lead magnet is something I give away for free. What the heck are you talking about when you say 'profit-driven'?"

Here's the deal. Most of the time, when somebody signs up for your email list, they are just not quite ready to buy from you yet. When you create a profit-driven lead magnet, you are creating a tool that leads your new subscriber to a buying decision while also providing incredible value.

With this very intentional strategy, you will be generating revenue faster than you ever thought possible!

In today's episode, I talked about the three main questions you must ask yourself before you create your profit-driven lead magnet, and they are:

What do you currently sell or plan to sell in the future?

What does your ideal customer avatar need to understand, be aware of, or believe in order to want or need your product, program, or service?

What type of lead magnet could I create that will compliment or align with the product, program, or service I currently sell or plan to sell?

I love a good example that illustrates what I'm talking about and I've included the two examples of profit-driven lead magnets that I talked about on the show below. I hope those will get your creative juices flowing!

Example #1: My Own Lead Magnet, "20 Smart Strategies to Rapidly Grow Your Email List"Why Example #1 Works:

It inspires.

It's actionable.

The cheat-sheet gives the what, and my course gives the how.

My ideal customer avatar and I are now in a conversation about how I can help them. Now, each week, I can continue the conversation with my ongoing weekly content.

Example #2: Corinne Crabtree's Free Course, "THREE Things You Must Know to Lose Weight"Why Example #2 Works:

She makes it doable.

It gets people results (for free).

It attracts the right audience.

Corinne meets people right where they're at in their journey. Her course name is simple, clear, and to the point. Right away on the thank you page, she shares her journey in a video (and still directs her audience to check their email for more).

Episode highlights:

[06:49] 99% of the people who give you their email address aren't ready to buy. It’s up to you to walk them down that path. Create your lead magnet with your end goal in mind, and your end goal is to attract paying customers.

[14:04] Example #1 my lead magnet for List Builder's Society (see image example below).

[21:13] Make sure your lead magnet meets the customer/buyer where they are at. Profit-driven lead magnets are very intentional, specific, and sometimes only used for launches. There is a difference between a really good lead magnet and a profit-driven lead magnet.

[26:44] Example #2 from Corinne Crabtree (see image example below).

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By Amy Porterfield

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