How to 10x Your Email List with a Signature and Compelling Lead Magnet
Do you know what one of the most important tools in my business is?
You might be tempted to think it’s my CRM, or my membership site platform, or my website…
But it’s not.
My top tool is my email list.
And it’s always a priority focus for me regardless of what stage I’m at in my business.
But why is it so important?
Well, growing your email list is a golden ticket to being a more successful online business owner and there are a few reasons why.
Firstly, you own your list, unlike your social media platforms. With your list you don’t need to contend with pesky algorithms, spending so much valuable time creating content that such a small portion of your followers will actually see. The subscribers on your list are yours and you are sending content directly to their inbox, greatly increasing the likelihood that they’ll see it, open it, consume it and use it. You will see a significantly higher conversion rate through email marketing than through social media.
Our time is so valuable, so if you’re going to put time and effort somewhere, I would highly recommend that it be put towards building and nurturing your email list.
Okay, how do you start growing your list?
First off, let me say that having a ‘newsletter’ signup section on your website isn’t going to get the greatest conversion. Why? Because who really wants to signup for a ‘newsletter’?
We want to entice subscribers to our list by offering a value exchange… giving them something they value in exchange for us getting something we value (their email address).
And the thing we’re going to exchange…
A lead magnet…
Your lead magnet is doing pretty much what the name implies. It is attracting leads to you.
So what makes a great lead magnet?
First of all, it needs to provide your lead with a quick win. We have to steer away from overdelivering by giving too much information. Lead magnets that are detail and action heavy are hard to consume and less likely to be implemented. A great lead magnet will be bite sized, tangible and actionable. Your lead should look at it and feel like they are being set up for success and can put your lesson into practice immediately.
Your lead magnet should also be directly related to your core offer.
When you’re considering what your lead magnet should be, it’s important to start with the end in mind. Where are you leading your leads to? What action do you want them to take with your business that turn them from a lead to a paying customer. Whatever this core offer is, should relate back directly to your lead magnet.
If the two offers (your lead magnet and core offer) don’t align you’re going to end up with the wrong people on your list, and they aren’t likely to buy your end offer because it isn’t relevant and they aren’t a fit for it.
Let’s look at some lead magnet examples.
- The eBook, the PDF, the roadmap type of lead magnet. These are popular and we see them everywhere. They are a great lead generator if they’re used correctly. This is where my warning of overdelivering really comes into play though. Creating a 100+ page PDF is not going to serve you or your leads well. This is one time when we don’t want to go above and beyond. Think easy to consume, bite size and actionable.
- Checklists and cheatsheets. These work well because people love the ability to follow a clear process or order. If you’re able to provide them with something to simplify things and give them a clear list of actionable steps it’s likely to convert well.
- Templates. These are another super popular type of lead magnets. Templates save your lead time and energy, removing a lot of the guesswork and trial and error. Templates are also great for most niches.
- Swipefiles. These are similar to template but instead of them being ‘plug and play’ or fill in the blanks, they are repositories of information and inspiration. You might get provide a swipe files of Facebook Ad templates that your leads can use to guide their ad creation processes. Swipe files are great for those in the B2B space.
- Spreadsheets and trackers. Spreadsheets are a very desirable type of lead magnet because similar to a template, part of the work has already been done. Your lead can benefit from your own processes by plugging their detail into your spreadsheet and getting relevant information and data for their business. Popular spreadsheets are projection spreadsheets, tracking spreadsheets, content planners. I have a few spreadsheets as lead magnets and share these a google sheets so my leads can simply create a copy in their own google drive and get to work.
- Audio files. These work great guns for those in the health and wellness space where you might be sharing something like a meditation or affirmations. Similarly, if you have a podcast, an audio file is a great lead magnet to introduce your audience to your content.
- Video files. Videos are great as either a standalone lead magnet (like a prerecorded masterclass or training) or a video series. While there is more time and effort required for creating a video lead magnet, it really increases the connection and engagement with your leads.
- Live Masterclasses/Webinars. Similar to video lead magnets, webinars and masterclasses are great for connection and engagement with your audience. You’re able to deliver incredibly valuable content to your leads, but also pitch an offer at the end (2 birds, one stone). If going live freaks you out, then a prerecorded or evergreen webinar funnel is a great option too
- Quizzes. Chances are you’ve taken a quiz as a lead magnet. They are soooo popular right now. They are a great way for you as the business owner to really segment your audience and deliver content to your audience based on their results. And for your leads, it hones in on the desire to learn something new about ourselves, or confirm something we already think about ourselves.
- Free Calls. If you are someone that finds you can sell ice to eskimos if you get them on a call, then a free discovery call or strategy call could be a great lead magnet option for you. Simply present your prospective lead with the opportunity to book a time in your calendar to have a chat where you’ll share a process, or strategy with them to help overcome a struggle or painpoint they have.
Once you’ve created your lead magnet, you’ll need to do a few things to put it into action.
Firstly you’ll need to create a signup or opt-in form in your chosen email marketing platform. I recommend Simplero, but if that’s not suitable for you, then ActiveCampaign is a great option.
Once people put their email address into that opt-in form you’ll need to deliver the lead magnet in some way. Either by directing them to a page to download it, or sending it via email. You’ll be able to set up this connection in your email marketing platform too.
Then simply get the link for your opt-in form out there for people to access.
It’s then automated!
Down the track you’ll want to consider a nurture sequence that gives them more information about you and your business and how you can help them.
But primarily for growing your list, we need to get your new lead magnet out there.
And in a nutshell, that’s the process of 10x your list with a signature and compelling lead magnet.
If you want more information on building your email list, make sure you grab my Quickstart guide here.