Creating a High ROI Lead Magnet

A successful funnel starts with a successful lead magnet.

One that attracts high-quality prospects, establishes you as the go-to authority in your industry, and creates a sense of trust so that when those prospects are ready to become buyers, you are the obvious first choice.

But what actually makes a successful lead magnet?

Is it a 3,403 page E-book? Maybe, but not likely.

Today we’ll be sharing the EXACT criteria your lead magnet must meet to hit a home run plus a few examples of our top converting opt-ins.

In order to create a lead-generating frenzy on the social interwebs, we first need to understand what a lead magnet is, and what exactly it’s designed to do.

The ultimate goal of a lead magnet is to offer an incentive so irresistible that your prospect is willing to give you their contact information in exchange for it such as name, email, phone number, etc. Aka, an opt-in bribe.

However, not just any offer will do. After hundreds of tests, we’ve boiled down the art of a high-converting lead magnet to a few criteria it must meet.

Your lead magnet must:

  1. Solve a Specific Problem. It should be a very specific solution to a very specific problem. You should know your audience well enough to know what they’re struggling with the most. What keeps them up at night? How can you solve it?
  2. Be Easily Consumed. It should be short, sweet and effective. If they have to read through hundreds of pages and takes them weeks to see the benefit of it, you’ll lose traction. Give them something they can copy and paste into their life for instant results.
  3. Have a High Value. It should be almost painful to give away it for FREE. Show your prospect that you’re an expert, you understand them and you can help them. Provide value and they’ll be back.
  4. Be Instant. Once requested, they should have access to the lead magnet immediately. If they have to wait weeks to receive something, they’ll lose interest.

So, what actually meets all of this criteria?

Here are our 6 favorite lead magnet ideas that you can create today:

  1. Checklist – This is a classic favorite. Checklists have a high conversion rate because they are a simple, bite-sized to-do list that takes a more complex topic and breaks it down into manageable micro-commitments. Super quick and easy to create.

Pro Example: Take your latest long blog post, and summarize it into an actionable list.

  1. Cheat Sheet – Cheat sheets are my second favorite (and very similar in nature to the checklist). When people are in a hurry for a solution, do they want to read an entire 150-page book? Nope! But they will take the highlights and all the need-to-know tidbits that will help them move from point A to point B in a reasonable amount of time.

Pro Example: Pick a pain point of your target market that you have a solution for and create a mini how-to guide for overcoming it. Ex. The Ultimate Cheat Sheet to Writing a High-Converting Lead Magnet

  1. Quiz – Want to discover more about your audience? This is the perfect opportunity. Plus, quizzes are fun and usually convert really well as people are always looking to discover more about themselves and how they compare to others. Use this as an opportunity to upsell your services. After the quiz taker enters his or her email address and the results are shared, be sure to have a solution prepped for whatever answer they get.

Pro Tip: LeadQuizzes is super simple to use and a great place to start for creating your first quiz.

  1. Report – We’re not talking a 100-page report that will take your audience all afternoon, just a simple 3-10 pages report (less than 10 minute read) that gives them information on a topic that is important to them. Here’s one we use for an actual client:
  2. Swipe File – If you could spend 3 weeks mulling through research and conducting experiments that MIGHT work, or could be handed the secret to success for others similar to you, which would you choose? Swipe files give away the best of the best secrets and let your prospective customers feel as though you are sharing top secret, meaningful content with them. Give them awesome, actionable pieces of content that you know work and will help them get results quickly, further establishing you as the go-to-guru.

Pro Example: Top Secret Swipe File: Subject Lines That Get a 40% or MORE Open Rate

  1. Resource List – You’re the established expert. Your tribe wants to do what you do and know what you know, so share it with them, already! Round up your favorite tools, apps, or programs for success, and compile them into a resource list.

Example Title: The 7 Best Tools for Productivity that have Changed My Business

Having a successful lead magnet will transform your business. It’s the fastest way to fill your email list with qualified leads, establish yourself as the go-to authority in your industry, and start generating revenue.

To discover how to implement a high-converting funnel in your business, click here to schedule your FREE ROI Strategy Session with Claire Wallace, Director of Client Strategy.

16 thoughts on “Creating a High ROI Lead Magnet”

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    1. Great job, Peter!

      My only suggestion would be to try split testing it against a headline that has a positive spin.

      Could be something like “3 Ways to Hire a Winning Caricature Artist and Entertainer That Your Guests Will Love”

      Just make sure it’s specific. A good tip to follow when you can is to add in one of these three things: a number ( 3 Ways, 7 Things, etc.), a time reference (in 30 Days or Less) or a money reference (For Less Than $500) when possible.

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