How To Build High-Performance Lead Magnets That Generate Super-Qualified Leads For Cheap (With Examples!)
Lead Magnets are one of the most critical pieces of any marketing funnel. A lead magnet, for those not super familiar with the term, is a piece of content, a piece of “value” that we are attracting potential customers with.
If we expect people to give us their information, or permission to contact them, we need to make ourselves relevant and provide as much value as we can upfront.
In fact, this very article you are reading right now is a lead magnet. We ran a Facebook ad to a cold audience that we thought would be interested in this article. So hopefully we practice what we preach and we can provide some value to you when it comes to creating and using top performing lead magnets in your marketing funnel.
The fact is, most entrepreneurs understand what a lead magnet is but they struggle with putting them together. And, when they have one, they are not always happy with the results.
That is why, in this article, we are going to discuss the following:
Three types of lead magnets you need in your marketing funnel
Two questions you need to answer when crafting the perfect lead magnet
The best performing lead magnets you can use in your business
The SSF Method
Before we dive in, I want you to understand there are really three types of lead magnets that you should have in your marketing funnel: one for the Sidewalk, one for the Slow Lane, and one for the Fast Lane.
We call this our Sidewalk, Slow Lane, Fast Lane Method, or SSF Method for short. This is the idea that a successful marketing funnel should be focused on moving someone from one lane to the next, not necessarily from completely cold traffic to paying customer.
When you put these three lanes together, you get a marketing funnel that offers a highly intimate experience for your leads. And lead magnets play an important role in your marketing funnel. If you want to learn more about our SSF Method, you can go to ssfmethod.com.
Three Types of Lead Magnets
1. The Sidewalk Lead Magnet
At the very start of your marketing funnel, you have Sidewalk lead magnets. These are typically the entry point for cold traffic into your funnel.
The purpose of a Sidewalk lead magnet is to make an idea relevant to someone. The people in your Sidewalk have a problem-oriented mindset and are likely not willing to commit to very much. They first need to see their pain as a real problem, or they won’t take any action.
Let’s think about this in terms of a conversation you have with someone you met for the first time. This is likely a business conversation, and they may be your ideal customer.
What are you going to talk to them about? What are you going to do to make their pain relevant to them? In this scenario, it’s about being able to illuminate the pain that is already existing so that that person can understand it.
In the Sidewalk, it’s not even about making you or your brand particularly relevant. Because when we present a new idea or a new concept that illuminates someone’s pain, by proxy we get to a point where somebody is interested.
That’s the Sidewalk. Low commitment; low amount of information. Now, truthfully most of your traditional lead magnets are going to be Sidewalk lead magnets. But we don’t want you to lose sight of the power of Slow Lane and Fast Lane lead magnets, so let’s keep going.
2. The Slow Lane Lead Magnet
The second type of lead magnet you need in your marketing funnel is the Slow Lane Lead Magnet.
By this point, somebody has gone through the Sidewalk. They know who you are and what their pain is. They are actually trying to become an informed consumer, so they are more willing to consume pertinent information.
In this stage, we want to show them the mechanism or the methodology or the way to a new reality for them. For us, we talk about the SSF Method. The Sidewalk, Slow Lane, and Fast Lane. We show them, “Hey, look at this really cool, interesting way that we can do lead generation that you haven’t seen before.”
In our case, we do a 5-Day Challenge that works incredibly well. What we’re doing is coaching a lead to become a customer at this stage. We’re actually showing the process. We’re literally empowering them to be able to fix their problems.
As you are reading this article, maybe you are thinking, “I would love to see how these lead magnets fit into a complete marketing funnel.” Then you, my friend, are ready to be in our Slow Lane. You can join our 5-Day Marketing Challenge right now by clicking here.
The power of Slow Lane lead magnets is that when you teach people something, they look at you in a different way. You become an authority. You become known, liked, and trusted by those people that are inside of your slow lane.
3. The Fast Lane Lead Magnet
So, we have brought our leads from unaware to understanding their pain (the Sidewalk). They understand the mechanism or the methodology of the process, and now see you as an authority (the Slow Lane). The next step is,”Hey, here’s our solution.”
In the Fast Lane, our lead magnet is the conversion method, from lead to customer. Examples of a Fast Lane lead magnet would be a sales page, webinar, or strategy call.
The beautiful thing about the SSF Method is now that we are in the Fast Lane, we don’t have to share the process or sell ourselves. We have already accomplished this through the Sidewalk and the Slow Lane.
All we have to do is help this person understand what life is like afterward, without the pain.
Craft the Perfect Lead Magnet
There are two basic questions you need to ask yourself when you are developing a lead magnet. If you can answer these two questions, you will have an effective lead magnet to use within your SSF Marketing Funnel.
Does this Lead Magnet align with the mindset of the person to whom it is being offered?
Remember, each lane of the SSF Method has a different mindset.
In the Sidewalk your leads will have more of a problem-oriented mindset, so you want your sidewalk lead magnets to address their problem or pain.
Leads in your Slow Lane have a knowledge-oriented mindset, so they want to know more about your solutions, and how they can solve their problems.
And in the Fast Lane your leads have a solution-and-outcome mindset, so they want to know how your solution or product can remove their pain or problem.
Each mindset requires a different kind of conversation in order for them to think your offer is relevant to them. When you can answer this question properly, you will know exactly what your needs to be within your lead magnet.
Does this Lead Magnet align with the level of commitment of the person to whom it is being offered?
Not only is a potential lead’s mindset different, based on where they are in your SSF Marketing Funnel, but their level of commitment is also different.
A lead in the sidewalk likely doesn’t know who you are, so their level of commitment is very small. A sidewalk lead is like someone you meet at a networking event. You have just a few minutes to have a conversation with them.
The ideal consumption period is less than 7 minutes for someone on the Sidewalk. Make sure your sidewalk lead magnets match that level of commitment and are easily digestible.
A lead in your Slow Lane knows more about who you are and what problem they have. The person you met at that networking event wants to know more about you, so you set up a phone call, and spend 30 minutes explaining your process and seeing if it’s a fit for them.
In this stage of the funnel, you can expect leads to consume more content. We have found the ideal Slow Lane lead magnet consumption period is from 12 to 25 minutes but can be introduced as multiple pieces of content such as a video series or a challenge.
A lead in your Fast Lane knows about you, their pain, and your solution to their pain. You met the person at a networking event and had a phone conversation with them. Now they want to meet with you for lunch with their business partner. Now you can bring the pitch and “close” the sale.
Leads in your Fast Lane really want to solve their problem so they’re perfectly fine with larger commitments. In this lane, you can easily have 30-90 minutes of relevant content for them to consume.
The Best Lead Magnets for each Lane
Below, I’ve defined the most popular lead magnets based on the SSF Method.
As a reminder, here are the three mindsets that make up SSF:
- Guides – A guide of fewer than 7 pages can quickly and effectively show someone a potential transformation.
- Tips, Tricks, or Checklists – Specialized checklists allow you to give instant value because they’re useful but consumable. They’re also very easy to make!
- Swipe Files – If you have a series of emails that is really good at accomplishing a specific purpose, swipe files work extremely well.
- Quizzes – Quizzes used to be very cheap and effective, but have not performed well lately for many of our clients. If you sell to businesses, a quiz is not at all recommended. If you sell to consumers, we recommend only using them as an alternative lead magnet after your Sidewalk funnel is functional, and you can test it against the other options presented here.
- Assessments – In the Slow Lane, you may want to give a quiz that’s a little more substantive. We can do this with an assessment. Typically, an assessment will give some type of score or help the lead discover something about themselves. (For example, a personality test might show you that you have a Type A personality, which you may not have known before.) They do extremely well, however, they take more time for you to create and for the lead to complete.
- Guide – A more in-depth guide (20 pages+) that helps someone get deeper into a particular topic. This is very valuable for someone in this lane and generally converts quite well.
- eBook – A free eBook usually works best in the Slow Lane, when information absorption is a priority. Many people use an eBook for the Sidewalk without realizing that most people aren’t ready for that much information. If a Sidewalk lead does download the eBook, chances are good that they won’t actually read it.
- Mini-Course – Mini-Courses are great Slow Lane lead magnets, however, be careful not to overwhelm your lead with too much content.
- Video Series – A video series is one of the best performing Slow Lane lead magnets, especially when someone can go through at their own pace. We recommend at least 3 videos in a series, but no more than 4.
- Facebook Group / LinkedIn Group – A Facebook group, such as our SSF Method Group, is an amazing way to build a relationship. It allows you to nurture your Slow Lane leads through education.
- Challenges – One of the best Slow Lane lead magnets we have used successfully in our business is our 5-Day Marketing Funnel Challenge. It’s a great way to provide actionable solutions and empowering your users to solve their own problems. It also indoctrinates them into your processes which makes it much easier to convert them into your Fast Lane. If you are curious about how our 5-Day Challenge works, you can join it by clicking here.
- Video Sales Letter – Video Sales Letters can be informative and effective for turning leads into customers. While they are difficult to write and execute, they sometimes are “as” good as webinars (depending, of course, on the product).
- Content Webinar / Sales Webinar – This is our best converting Fast Lane lead magnet. A webinar builds intimacy with our leads by allowing us to essentially teach a mini-class on a subject that is a real pain point for the lead. We can clearly show the solution and transformation and even sell directly from the webinar. Webinars are our most effective means of selling.
- Paid Masterclass – This is one of my favorite Fast Lane lead magnets (it can also double as a product). Ideally, this is offered to those who are on your email list but haven’t bought from you. A masterclass is high-value and low-cost (such as $47 or $97), and the purpose is to give a small glimpse into the full experience that comes with becoming a customer with you.customer.
- $1 Trial or Coupon – Sometimes, it’s just about getting that person to say, “yes”. After that, it’s all about retention and maximizing their value. A $1 trial or coupon allows for someone in the Fast Lane to say “yes” and become a paying customer.
- Case Study – When someone is in the Fast Lane, having in-depth case studies or case study videos are extremely effective. They can be long and in-depth and help your leads feel like they understand the benefits of working with you.
So, which lead magnet makes sense for you?
There truly is no “wrong” lead magnet. When you think about the SSF model of a lead’s mindset and obligation, it simply comes down to helping someone with their pain at that specific moment in the most accessible way possible.
Where Lead Magnets Fit In
Lead Magnets are one of the most critical pieces of any marketing funnel.
If you don’t have a marketing funnel, then you need to fix that problem. It’s great to get people to download your PDF, but if they don’t buy your product or service, your business will not be successful.
Now that you’ve gone through this article you understand the importance of lead magnets. The truth is, it’s completely possible to take advantage of lead magnets using this article… but you likely need a little something more than just that 😉
Because if you implement this, you’re going to be getting a lot more leads into your business…how are you going to properly nurture those leads so that they become customers?
See, lead magnets are just a piece of the puzzle; what you really need to effectively and efficiently transform leads into customers is a fully customized marketing funnel that speaks to your leads where they are at in their journey.
Are You Ready For A Challenge?
So we’ve put together a 5 Day Online Marketing Challenge where we’ll show you exactly how to build your automated lead generation system that brings leads into your business day in and day out.
We’ll show you exactly how and where to plug in your lead magnets for maximum conversion and then take all those new leads you get and turn them into customers. You’ll learn all about how to put together highly converting landing pages that people can’t wait to opt in for.
We’ll walk through how to craft irresistible emails that build strong relationships with your leads and we give you email swipe files so you can implement this right away.
And, of course, we’ll walk through how to drive loads of traffic to your funnel and how to pick the perfect conversion method for your business that will ensure you are turning those leads into paying customers.
You’re only 5 days away from having a solid plan for implementing automated lead generation into your business.
Just go here to register for the 5 Day Challenge.