Eight Keys to Creating a Successful Lead Generation Offer
Need more leads? Frustrated with the unpredictable or inconsistent results you’re currently experiencing? You’re not alone. Lead generation is without a doubt the number one challenge for advisors today. And you really can’t overemphasize the importance of lead generation. It’s the very first step in the sales process; everything else flows from there.
It’s also the source of some of the most common questions we come across here at Automated Advisor. If you’re like many advisors, you might be wondering …
“What does it take to produce a high volume of leads consistently? What entices prospects to give me their contact information, so I can follow up with them in the future?”
There is a simple answer to that question: the answer is your lead magnet.
“What the heck is a lead magnet?”
A lead magnet is a piece of valuable, free educational content that your ideal prospects want. Your job is to develop it and offer it to them at the beginning of the lead generation process in exchange for their contact information. When they “opt in,” you receive the info you need to invite them further into your sales process.
Sample Lead Magnet Ideas:
- Free Reports
- Case Studies
Now to be clear, the content is free in that you don’t charge prospects for it, but make no mistake, when prospects give you their contact information and permission to have you follow up with them in exchange for your valuable content, a transaction has taken place.
And it’s actually the most important because it’s the first transaction you have with them. And even though they are not paying for it, it had better be valuable to them. Getting a prospect’s name, email address, and permission to follow up is absolutely worth something to your business. When you really begin to understand the metrics in your business and how much you earn for every new client you bring aboard, and how many leads it takes to generate one new client, you begin to see that each email address you collect can be worth $40 to $50 to your business.
The other reason your lead magnet has to be truly valuable is because if it’s not, they will ignore every other piece of content and follow up material you send. You see the reason prospects request the free information first is because they want to test and see if what you have to offer is good and of value. They use high-level content and information as a way to distinguish between an advisor they want to invest more time with, from those they don’t!
In this post, I’ll show you how to create high converting lead magnets so you can generate the highest-possible number of leads.
The Eight Elements of a High-Performing Lead Magnet:
- Specificity. A lead magnet should never be generic. It should offer a specific solution to a specific problem, for a specific audience. This is important. For example, let’s say you put together a list of the top 10 things prospects need to know about retirement. That’s too vague.
It’s far more effective to get specific. Examples of more specific topics may include:
“The Top Seven Things You Need to Know to Maximize Your Social Security” or
“The Top 12 Tax Reduction Strategies Used By The Wealthy.”
Your lead magnet should speak to the desired end result of your ideal clients. If you create your lead magnet for a narrow audience (such as married couples between 62 and 65 years old), you can address the exact questions on their minds. Highly focused lead magnets generate a much higher volume of leads.
- One Big Promise. Everyone is looking for the one big thing … the answer that will change their lives. When you understand the struggles of your target audience, you can identify your audience’s “silver bullet.” Make sure the silver bullet, the life-changing promise is clearly stated in the title of your lead magnet, and then answered in detail in the subsequent pages.
Offering to deliver on one big promise will convert much better than a resource offering to address a myriad of issues. And that’s when you’ll see your lead volume increase as well.
- Desired Outcome. What does your market really want? What’s their “ideal after”. To gain clarity on what that is for your ideal clients, considering interviewing a handful of your top clients using Dan Sullivan’s, D.O.S. Conversation.
D.O.S. stands for Dangers, Opportunities, and Strengths.
- What are your prospect’s biggest dangers, their challenges, and their fears? As they see them.
- What are their biggest opportunities; the things they want to accomplish the most?
- What are the strengths that they already have going for them that they can build on?
Armed with this information begin to weave these ideas into the messaging of your lead magnet. Speak directly to that desired end result, and help your prospects understand the correlation between what you’re offering and what they want. By doing so, you will dramatically increase the number of leads that you generate.
- Instant Gratification. We live in an instant gratification society, and prospects at the beginning of the buying process are trying hard to sift through hundreds of sources online as they research potential solutions to their problems. So, your lead magnet should not only promise and deliver something that your prospects are seeking the answers to, but it should do so quickly and easily.
The best lead magnets are those that can be consumed in five minutes or less. With that in mind, be careful of using things like; books you’ve co-authored, or multi-part email series, or long videos as they do not deliver the instant gratification prospects are looking for early in the process.
Remember, at the beginning of the buying process, prospects simply want an appetizer; just a bit of information they can get through quickly to determine if you’re someone that can provide them with new and unique information, and so they can decide if you’re someone they want to invest more time in, in the future.
- Authority. When you select and structure your content correctly, your lead magnet should not only be educational, deliver a specific promise, and be quickly consumable, but it should also position you as the authority on the topic.
When done right it will actually pre-sell you and just as importantly, leave prospects wanting more from you. You want them saying, “That was great; I need more of this. I want to go further down the road with this advisor because I believe they can help me.”
- High Perceived Value. You might spend hours putting together the best free report in the industry, but if it doesn’t look valuable, it’s not going to convert visitors into lots of leads.
It’s important to have your lead magnet professionally designed. Your designer should also create a nice 3-D image of the cover of your report that you can use on your web pages. You need a high-impact graphic to promote your offer. Even though the content is free, it should look like something your prospects would be willing to pay you for. Perception of value is critical.
- High Actual Value. When prospects consider whether or not to move forward in your buying process, they’re going to base their decisions on the value they did or did not receive from your lead magnet. Remember, this is your first transaction with them, and it has to deliver.
It doesn’t do you any good to create a sloppy lead magnet, put a nice looking wrapper on it, promise a lot of great information, and then fail to deliver. You might generate a lot of leads with that approach, but none of the leads will convert into appointments. In fact, doing so will actually hurt your business. Your prospects will draw a negative conclusion about you and decide to look for answers elsewhere. To be successful, your lead magnet has to be high-value and high-quality.
- Rapid Consumption. Earlier I mentioned that your lead magnet should deliver instant gratification. Specifically, it should be consumable in five minutes or less. That’s an easy marker, and I want to hit it again because it’s so important. As you’re developing your content, ask yourself, “Can I read or watch this in five minutes or less?” If the answer is no, you probably need to cut something out or condense the information.
So with that, let’s get to work. Click here to download the 8 Elements Checklist to help you as you begin putting together your own custom lead generating resources.