How My Business People Used Lead Magnets to Create a 65% Return on Investment (And Four Tips for Creating a Great Lead Magnet)

 

How My Business People Used Lead Magnets to Create a 65% Return on Investment (And Four Tips for Creating a Great Lead Magnet)

A great lead magnet attracts more clients to your business. Here’s what My Business People did to build theirs.

Your business needs to attract more leads in order to thrive. In fact, leads are the lifeblood of the business. Without them, you make fewer sales and the business struggles to scale.

That’s why you need a great lead magnet.

What is a lead magnet?

It’s a piece of content that draws the leads that you want towards your business. It helps you to find potentials customers to enter into your sales funnel.

Lead magnets take all sorts of different forms. A blog post on your website could be a lead magnet. So too could a whitepaper that you make available in return for a lead’s details.

The type of content you offer isn’t as important as the value that the content provides. A great lead magnet offers something that a potential customer wants enough for them to give you their information.

The more people you attract with that content, the more chances you have to make sales.

My Business People used lead magnets to great effect. Let’s take a look at their story.

The My Business People Lead Magnet

My Business People (MBP) is a consulting firm that found itself struggling. By 2013, a lack of leads had started to take a toll on the business. They needed to refocus their marketing and put systems in place. This would allow them to both boost their lead generation and make the most of any leads they got.

The first thing they needed to do was to put a CRM in place. MBP decided on Ontraport, which is one of the many CRMs that Automation Agency can help you with.

They carried out many of the standard tasks that they needed from their CRM. They created marketing funnels and email automations.

However, they still had a key challenge.

The Challenge

All of the marketing funnels in the world won’t get you anywhere if you’re not putting leads into them.

That’s where MBP found itself struggling. They had all of these systems in place. But they didn’t have the leads they needed to bring those systems up to capacity.

They missed a key ingredient – a lead magnet.

The Solution

MBP created a four-step process that incorporated a great lead magnet.

Firstly, they used ads to send potential customers to a landing page. On that page, they offered free information in exchange for the lead’s details. The key word here is “free”. MBP offered something of value without attaching a dollar value to it.

Marketing Funnels

Figure 1 – https://www.automationcentral.co.nz/my-business-people-marketing-funnels/

It’s the lead’s details that were most important.

Once the magnet worked its magic, the lead’s details entered a marketing funnel. And from there, MBP could use the systems it had created using its CRM to nurture the lead.

Figuring out a way to attract leads was the missing part of the puzzle.

The End Result

With the lead magnet in place, their marketing campaign took off.

The quality of their magnet means they have an approximate conversion rate of 30%. The quality of their marketing funnels means that they generate tens of thousands of dollars from the campaign.

The campaign has achieved a 65% return on their investment over its lifetime.

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Creating a Great Lead Magnet – The Tips

MBP’s campaign completely took off once they built an appropriate lead magnet.

You can achieve similar results. The key is that you build great magnets that actually attract leads. These tips will help you do just that.

Tip #1 – Offer Something of Value (For Free)

This is a painful one for a lot of business owners. If you have something of value, you naturally want to earn money from it. In MBP’s case, they had a list of multi-million dollar profit-making secrets.

That’s something you’d naturally think is something you should charge for.

However, it’s important to play the long game. Remember that this is just a piece of content. While it talks about MBP’s secrets, it doesn’t actually help the reader to implement them.

That’s where MBP would come in.

They’re using a valuable document that pushes people into their marketing funnel. From there, they’re nurturing those leads to push them towards the services that MBP offers.

There are all sorts of free offers that you can use as a lead magnet.

If you’re an expert in your field, you could offer a free whitepaper. Provide insight that only you have and use it to show your authority. This creates trust, which helps you to nurture the lead.

E-commerce stores can offer free coupons or free shipping. Use the lead magnet to get the person to visit your website. And from there, they can see all of the amazing products you offer.

The key is that you offer something of value to attract the lead. Then, you nurture them so that they’ll pay for other valuable services.

Image result for multiple lists ontraport

Figure 2 – https://tribecto.com/ontraport/what-is-ontraport/

Tip #2 – Don’t Limit Yourself to a Single Magnet

People consume content in different ways.

Some prefer to read text so they can get a full understanding of a subject. Others prefer to watch videos or engage with other visual stimuli.

Take advantage of that when creating your lead magnet.

Create different landing pages that each focus on something specific. Repurpose your original content to create multiple landing pages.

Then, A/B test them to see which is the most effective. Send each lead to a different list based on the landing page they came from. Use this data to see which magnets prove most effective and which you need to get rid of.

This will help you to create the most efficient magnets possible, thus helping you to improve ROI.

Automation Agency can help you to create lists and campaigns in your CRM. Use these to collect the details you gather from these different magnets. Just send a task to us today to get started.

Tip #3 – Create a Buyer Persona

A lead magnet won’t help you if you’re not pushing the right people towards it. You need to figure out what your target audience is before you can offer anything of value.

This means that you need to create a buyer persona.

This is a fictional version of your ideal customer that you create using your existing sales data. You’ll see what your existing customers want from you. Then, you use that data to create ads and offers that appeal to that audience.

Your data may show that your target market sticks to a certain budget. If that’s the case, a massive offer for an expensive product won’t appeal to them. Your lead magnet becomes less effective because you’re making the wrong offer.

Site tracking is a useful tool for helping you to create a buyer persona. It allows you to track what leads and customers do when they reach your website. You can see what pages they look at and track what products or services they buy.

You can then pull that data from your CRM to figure out your target audience.

Automation Agency can help you to set up site tracking that links to a range of CRMs. Just send us a task to find out more.

Tip #4 – Deliver on Your Promise

Your lead magnet makes a promise to the person who lands on the page.

You’re saying that you’ll provide X in return for Y.

It’s essential that you deliver on that promise with the content that you deliver. Remember that you’re using the lead magnet to start a relationship. If you violate the trust right at the start, there’s no point entering the lead into your funnel.

They’ll never convert to a sale because they don’t believe that you can offer what you claim.

This is where the value aspect comes into play again. Use your landing page copy and CTA to tell the lead what they get from your magnet. Then, make sure you provide content that delivers.

You can check our guide to building more effective landing pages to help you create your promise.

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The Final Word

A great lead magnet has massive benefits for your business. For MBP, creating one led to a higher conversion rate and strong ROI.

Use these tips to create your own lead magnet. Then, link it to your CRM and create automated campaigns to guide leads through your funnel.

Automation Agency can help you to create these campaigns. Just send a task today to get started.

And if you’re unsure about whether we can help you, talk to our Right Fit Chatbot. It’ll help you figure out if we’re a good fit for your business.

About The Author

Carl Taylor

Carl Taylor is the Founder & CEO of Automation Agency. For the past 10 years Carl has been building businesses and marketing them online through the use of Sales Funnels, Email Marketing Automation, Landing Pages, and Wordpress Websites. Carl is also a #1 author and highly sought after speaker and consultant whose work has impacted thousands of businesses across various industries worldwide.