What’s a lead magnet you ask?
It’s that little bit of “trickery” that, when used correctly, can help you turn readers into customers at a profit.
So why do you need a lead magnet?
Because if you’re like most bloggers you’ve realized that you’re blogging, day in day out and not just getting any sales from this blogging activity.
You’ve realized that things have changed in the online world.
You sit and remember back when someone told you, you should start a blog. It’s a sure way of making money online.
Well maybe that was 10 + years ago.
When there was ZERO to little competition and traffic actually meant conversion.
Now-a-days you have to work really hard to convert visitors into leads the into customers.
And sometimes you’re not even interested in the leads right? You just want the customers.
So what do you have to do in order to convert visitors to customers.
It’s simple really.
- You NEED an audience.
- You Need an advertising budget.
- You need to begin with your conversion goal in mind.
In order to do that you need a compelling offer.
Now let’s be real ….. your newsletter is NOT a compelling offer
Your Free Updates on your blog is NOT a compelling offer
Not even your Weekly tid bits of FANTASTIC business info is a compelling offer.
But let’s just back up a bit here!
We’re talking about an audience, and I mentioned above you will need an advertising budget.
Care to take a guess as to why you will need an advertising budget?
Well the answer is quite simple really – it’s the only way you’ll reach your audience!
Oh Crap – You mean to tell me that if I don’t spend money I won’t make money?
Oh yes that’s exactly what I mean.
And people think coming online is easy.
Here me out – one of the biggest mistakes that people make with trying to reach their audience is relying on “Free” traffic.
The reality is we’re not in 2005!
Remember when we used to teach – Free will get you started but wouldn’t take you there.
Well today FREE is getting you Nowhere.
FREE is NOW the most expensive mistake you’ll ever make, and that’s just the cold hard truth.
So back to this lead magnet.
Here’s my silly advice. Get this lead magnet in place BEFORE you spend any money advertising and driving traffic to your blog.
The reason is this.
If you have nothing to offer people who come to your site, then you’re wasting your Ad dollars.