Updated: Dec 25, 2020
Now that you've gone over the problems and solutions that you can offer, it's time to pick just one problem and one solution that you will focus on to build your email list. Building an email list is an important factor in building your business. To build your email list, you need a lead magnet.
Why? If you want to profit from your expertise, the email list will transcend all other platforms as the most important way to build your business. Because of this, it's imperative that you take the time to develop list-building options. From social media to your blog, every time a new person visits your site or other platforms, invite them to join your list by adding value before purchasing from you.
I think of providing value as the primary consideration when creating a product for my list or potential list, no matter if it's a paid product or a free product offering.
Providing valuable content through your lead magnet to your list members translates into your list members' improved lives, whether in their personal lives or professional lives. Therefore, I call this a value-added magnet.
What is value-added?
While according to Investopedia and others, "value-added" in business terms means the difference between your cost of creating your product or service and the selling price, but it can be used for lead magnets, like reports, too. As social entrepreneurs, when we create something, don't we ask ourselves, how can I positively impact my community -- add value? This could be to your local community or world community, or any community in between.
Additionally, when you provide an added value to your potential list members through your creating and offering of a lead magnet, a free product, your brand's perceived value increases because the potential and real value you add to their lives is significant. Fingers-crossed. Your cost: time and energy (perhaps money, if you paid someone to design your report, but you can do it yourself through online design platforms like Canva). Their price -- an email address. Imagine, if your free product, graphically appealing and valuable content, affects your list members positively, what could your paid products provide? They may think that way, I do, do you?
Let's take a look at providing value through your lead magnet.
What is a Lead Magnet?
A lead magnet is an incentive for signing up for an email list. You give your list members something, and in exchange, instead of money, they give you their email address and potentially other information that you can use to connect with them on another level. It needs to solve one problem quickly and be instantly accessible. That's why a short report in the form of a digital document download, usually in PDF form, is the easiest way to do it.
One of the easiest lead magnets to make is a quick list of resources and tips that help your audience solve their problem. You've already made a list of the problem and solutions you offer, so now you can put it all together in a short report. Your audience will download this report as a freebie in exchange for their email address.
The best way to explain this process is with an example.
Let's say that you are a traffic ambassador. You help your audience, mommy bloggers who have food blogs, get more targeted traffic, and make more money. You've come up with a way to stop visitors from abandoning the site, never to return, so you have created a short report with resources available to help prevent website bouncing.
Your short report is called: Share Your Recipes with More People & Stop Bounces
It's clear who the lead magnet is for and what it promises to do for the person who downloads it. A mommy blogger with a high rate of bounces will love the report. Inside the report it might consist of some tips, tricks, and products that can be used to solve the bouncing problem. It might only have 10 or 20 tips, or it can have 100 if you have it. Don't make it longer just because you can. Instead, make it accurate and quick to put into use.
Your site visitors come to your site and read an article called: Why People Bounce-Off Your Site Without Reading a Word
While reading it, they either receive a pop up with the short report offer from above or link the short report within the content as an in-content link. You can also link it below the article or blog post, depending on the technology you are using to promote your lead magnet.
You may also install a pixel on your site and use Facebook or Google ads to help you remarket the lead magnet with site visitors that bounced from your website or left your website without acting. Once they get the lead magnet and are on your email list, now you can start promoting your other products and services directed at the main problems you solve for your audience, which is getting more targeted site traffic. This is an opportunity to provide more value and improve more lives.
Next steps, brainstorm your list of lead magnets that will provide value for your list. Then, choose one thing off your list to create and offer.