WHY IT’S SMART TO MONETIZE YOUR LEAD MAGNET

Part 3: Building your email list. In this post we will look at ways to monetize your lead magnet. 

Part 1: Getting new customers should be a high priority
Part 2: Ways to inspire trust in your subscribers
Part 4: Get your subscribers into your paid funnel
Part 5: Automate your list - Mailchimp vs MailerLite


When you think about making something of value, free, it might make you wonder about why do that. But, when you understand that you can also monetize your lead magnet by up-selling, cross-selling, and promote products right in the lead magnet then you soon realize that the lead magnet isn’t free at all.

It’s free to the user up front, but a certain percentage of your audience that downloads the lead magnet (assuming you’ve done a good job with targeting) will also click through to look at the products and services you recommend

When you monetize your lead magnet

  • You can start making money faster 
  • You get paid while you’re nurturing your audience
  • It gets your audience used to buying
  • When someone buys you can segment your email list 

When someone buys from your lead magnet

  •  You know they’re ready to get more information about more things they need and want.
  • Your job now is just to inform them about that service or product that they’ve are interested in.
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Getting your audience into the habit of buying

  • Requires that you really understand who they are, what they need, what they desire, and what they want. 
  • To do this you need to use analytics to track what gets your audience active and clicking.
  • It all starts with the first item they get from you which is typically either a lead magnet or a low-cost item.

This is the time you show them through your actions that you’re trustworthy as well as the go-to expert in your niche.

The process looks like this

  1. Create an easy to use a targeted lead magnet that solves one problem for your audience. 
  2. Include within your lead magnet opportunities to make purchases that you recommend.

When you recommend high-quality solutions to your audience they get used to trusting you and they’re much more likely to keep opening your emails and taking your advice.

You’re simply putting in front of them what they want and need anyway. You can do this because you know your audience so well.

3 PLACES TO INCLUDE OFFERS IN YOUR LEAD MAGNET

The more money you can make the more value you can begin to offer to your audience because of the snowball effect. As you build your business bigger, you will work fewer hours to produce the same results, causing you to have that much more time to personally help your audience.

include offers in your lead magnets

  • On a resource page 
  • On the about the author page 
  • Within the content

It’s important that you use all three ways to include offers in your lead magnet for the bests results.

Resource Page 

Essentially this is like an addendum to a full report, eBook, or even a course. It should be a separate page for the content and called something like Resources You Need or Resources Used or just Resources. You often see these on blogs too. It’s no different. It’s simply a list of all the resources you mentioned within the directions to solve the problem. Most of the links should be affiliate links. But, if you use resources that don’t have affiliate links still include links to those too.

About the Author Page 

Another place you can monetize is the part of the lead magnet that talks about you and why you are the one to provide this information. You can link to anything you mention whether it’s your own products that you teach, or products that you promote if you can tie it into the about the author page.

Side note: About “me” and about “the author” pages need to be written with the idea that it’s really about your customer and not you. Tell them the things that they need to know to trust you and relate to you making it all about them instead of you.

In Content 

When you mention any resource within the content of your lead magnet it’s an opportunity to include an affiliate link or direct link if it’s your own product to the sales page about that product or service. An in-content link just uses the words you’re talking about as anchor text that is linked to the product or service.

For example, if you are talking about The Best Way to Clean Your Iron Skillet there are numerous products you can link to from an iron skillet to the type of oven you have or the oil you use to season it.

You should be using all three methods to monetize your lead magnet. Even if it seems repetitive people are generally lazy and probably won’t want to read back through the entire information product to find each resource you mentioned, but they will save a resources page for later. They will look the author information again too so that they can find you if they found the information valuable.

WHY YOU NEED TO TRACK THE SALES FROM YOUR LEAD MAGNETS

When it comes to testing and tracking it’s important that you test and track the right things. One main reason is to know for sure that conversions are coming from that thing you did.

For example, is a lead magnet really sending paying buyers to your email list?
How can you know? Just because sales happen to increase during a specific time how do you know why those sales increased. Was it due to the lead magnet or is it due to something else? Knowing helps because you can toss out things that aren’t doing anything for you and keep the things that are converting.

Traffic but No Downloads

Let’s say you’re getting a lot of traffic clicking on your lead magnet through an advertisement you placed on Facebook, but no one is converting. You can tell this by looking at how many clicks you’re getting and comparing it to downloads from those links using Google Analytics.

With this information, you can try to determine whether it’s the lead magnet being poorly targeted or the fact that the download page or a sales page or opt-in form isn’t effective. If you’re getting traffic based on the advertisement and title of the lead magnet but the opt-in page isn’t converting change something there first to find out what will make it work.

Add Special Links in Your Lead Magnet

You can create traceable links using link shortening services and it’s not much extra work to use this method by putting a different link to the same product for each type of lead magnet that you create so that you can trace it to the exact lead magnet.

Turn on Link Tracking in Email

Your autoresponder probably has link tracing or tracking included in your service. If you want to know the people on your email list who downloaded your freebie by following a specific link to buy a product or service, it’s easy enough to tell using this feature.

Testing & Tracking Price Points

You can easily duplicate your main product using your shopping cart software so that you can test different price points by setting up the product twice with two different price points. Create two lead magnets that are identical except for the link to buy. The link to buy in one will go to the higher price point and the link to the other will go to the lower price point. Market to similar audiences using Google Ads to find out which price point gets more sales.

The truth is, you won’t know if an offer is converting well unless you track your sales and why each sale happened. Setting up everything will make it a lot easier to test and track sales as you go so that you can also change things on the fly when you realize one thing works better than another.


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