What is a Lead Magnet Funnel?

In this video, I’m talking about something that might be familiar to you, but hey – it might not!

It’s called a lead magnet funnel.

I’m specifically talking this in the context of getting more clients for your service-based business.

What is a lead magnet? It’s a piece of valuable content for your ideal clients that you give away. For free.

To make it truly valuable, ideally it’s something that you give to your paid clients. A piece of content that helps you to get them results, and that you use to work through the solutions that you provide to your clients.

You take that piece of your paid offering, and you turn it into something free that you give away to people in return for their email address. That is essentially the definition of a lead magnet.

How Does The Lead Magnet Funnel Work?

By offering your freebie in exchange for an email address, you are getting a potential client onto your email list.

You then create a sequence of emails to nurture the new relationship, and encourage them to take the  next step with you.

For a service-based business, usually that means getting on a call or booking an appointment.

That’s the simple high-level overview explanation.

Alternatives ways of creating a lead magnet funnel (that you probably haven’t heard of)

You’re probably familiar with this sort of funnel – and chances are you’ve signed up to quite a few of them.

However, there are different ways that you can implement this into a business.

For example you don’t have to ask for an email in return for sharing your free information (say what?!?)

The truth is, people are getting quite savvy about this, and it’s increasingly getting hard to make it work. Particularly if your niche is in the online space.

That doesn’t mean it doesn’t work full-stop.

There are still elements that you can put in place to make sure that this is something that’s going to be viable for you.

For example, instead of asking for an email address, you can interact with people in a different way.

Then ask. Ask them if they’re interested in the free content that you’re offering to share.

If they say yes, send them the link to a page where you’re hosting the information.

Offer the information for free, but have a call to action on the page. For example, a button to schedule a call with you.

And, as you’ve started the conversation through messages in social media, you can follow up with them directly.

The reason this works well is because you’re not relying on them to open emails.

This becomes a really time-efficient way to move people through the process quickly.

It’s also a good way of doing it if you are not 100 percent sure that what you’re offering is what your audience wants.

How to create the perfect lead magnet

A big mistake (guilty over here too!) is that we assume that we know what our audience is looking for.

And you spend the time and the resources on creating this freebie that you think your audience wants.

So by asking first, and engaging with your audience – you’re not flying blind.

By being more proactive on your own with social media, you can get it in front of lots of eyeballs quickly and get valuable feedback.

If your target audience aren’t really engaging with it, then it’s time to reassess.

Maybe you need to go back and try something else.

Through this process of communicating with the people that you are having conversations with, you can ask them WHY it wasn’t what they want. And what would help instead.

Don’t follow the herd and blindly create freebies that YOU think are valuable

Here’s the thing with funnels – and any sort of online marketing really. There’s a perception that that it takes the human element out of what we’re doing.

But it doesn’t. And it shouldn’t.

Stop thinking about funnels as this idea of dehumanising your audience. Start thinking about them as an efficient way to start communicating with the people that you KNOW you can help.

Keep that idea at the front of everything that you are doing – then you don’t need to be scared by this idea of a funnel being ‘icky’.

When to automate your lead magnet funnel

Once you’ve got your freebie working, and once you know that you’ve got something that’s really valuable to your audience then yes – you can start looking at ways to automate this process.

And there are really good reasons for doing this. Reasons that drip with integrity.

One very good reason is that YOU are human, you are not a robot.

There are only so many hours in the day, and you are only one person.

If you find something that works in your business, and you can automate that process – what you’re doing is giving yourself the space to be able to grow your business and reach more people.

Or if growth isn’t what you’re about – you just want a certain income level and you want it to not be stressful. That’s OK too.

Again, take this process and automate some parts so that ultimately, when you get on the phone with a potential client, you both already know that it’s a good fit. The call then simply becomes about ironing out the details.

Your lead magnet funnel is a really, really, REALLY good way to let people try what it is that you offer before either of you commits to getting on the phone or taking the conversation to that next level.

And that’s good for you AND your clients.

You can watch the rest of the videos in this series here:

Sales funnels for service businesses: The Content Funnel

Sales funnels for service businesses: The On-Demand Video Funnel

How to use a survey funnel to generate more sales

Sales funnels for service businesses: The Webinar Funnel

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