Greetings from Forest City, Iowa. The RV is parked just outside of the Winnebago factory where we will be getting some R&M done and taking part in Winnebago’s 50th Grand National Rally.
I hope you found our last conversation about ideal clients (can I have more than one) gives you more clarity around the topic of ideal clients. Bottom line: we all want to be served by someone whom we believe specializes in solving our problem; our prospects want the same thing from us.
On to this week. I’ve written previously about how I grew my email list. My list is what makes reaching you with this newsletter possible, which in turn gives me a platform to build Authority about my coaching services. You can do the same with your BVFLS services. But first, you need a list. And to build a list, it helps immensely if you have a lead magnet.
And if you’re new here, welcome aboard. This is what we do!
Here are three things I am happy to report:
#1 – This week is the 19th anniversary of me starting Burkert Valuation Advisors.
#2 – This week is the 4th anniversary of me writing this newsletter.
#3 – And last week, my first Practice Development INSIDER webinar (with Chris Mercer) launched.
Top webinar complaint: The time allocated to the webinar was not appropriate. (I believe people wanted more than 1 hour of Chris’s insights.)
Top webinar compliment: Absolutely brilliant! Best $100 I’ve spent all year. This was interesting, insightful, and valuable no matter how new or tenured to BVFLS the practitioner is.
First things first … our Outlook contacts and LinkedIn connections are not an email list. But they are a great starting point for one. And if we have a good relationship with those people, there should be little friction in getting them to subscribe. Hint: you personally invite them to subscribe – and if they see the value in the content you are sharing, they will subscribe.
But eventually, we will run out of people we know and who will subscribe just because we ask them to. So this newsletter is about grabbing those strangers … people who stumble across our website, see us speak, or read something else we published. How do we capture them?
The answer is a lead magnet
A lead magnet is an ethical bribe. In exchange for strangers giving up their name and email address, we offer something of value to them in return. You’ve seen lead magnets, but maybe you didn’t know what they were called. And you may not remember, but you likely subscribed to this newsletter through my File Autopsy lead magnet.
Recently, I created a new lead magnet, How to Vet Your Prospects, which I am sharing with you today (even though you are already a newsletter subscriber). But I wanted you to see another example so you could start thinking about creating a lead magnet of your own.
How to create a lead magnet
A lead magnet could be a whitepaper, checklist, how-to guide, cheat sheet, or infographic. Some people will use the first chapter of a new book they wrote as a lead magnet. So what information do you have that could be easily packaged as a lead magnet?
As you can see, the File Autopsy is a checklist and Vet Your Prospects is a how-to guide. In both cases, they have a very similar layout – on purpose – because it makes them easier for me to produce. And if you recognize the content of each lead magnet it is because they are repurposed newsletters.
I created both lead magnets in Keynote, Apple’s equivalent of PowerPoint. And I get my images from DepositPhotos.com, which runs a special every now and then – 100 images for $100.
Best practices of a lead magnet
An effective lead magnet is SAGE.
S – Short: Consumable in less than 10 minutes so that it encourages the people you want to attract to actually read it.
A – Actionable: Loaded with practical content related to the business of the people you want to attract.
G – Goal Oriented: It solves a particular problem of the people you want to attract.
E – Easy: For the information to be used or implemented so the people you want to attract get results with no advanced prep or training required.
Where does a lead magnet go
Technically, a lead magnet doesn’t go anywhere. It resides on your website or in a cloud-based storage application like Google Drive or Dropbox so that it can be downloaded on demand.
But the language you use to tell your audience about the lead magnet – well, that can go anywhere … an email trailer or any of your marketing materials. You’ll see the opt-in for my lead magnet on the home page and sidebars of my website.
Growing your email list is the secret sauce behind a 1:many product-based practice that I have written about many times before. But an email list is still critical to growing a 1:1 client service based practice as well.
And the goal of a lead magnet is to “pre-suade” (a term coined by Robert Cialdini) the people you want to attract, for whatever reason, that you possess the skills, knowledge, and experience necessary to solve their problem.
In real life
The Practice Development INSIDER webinar series I created was made possible by the strength of the email list I have, which I have been growing over time with a lead magnet.
– If you like what I write about, tell a colleague.
– If something resonates and you want to reach out directly, email me.
– If you think we share common interests, connect with me on LinkedIn.
– If you want a sense of how well your practice is working for you, take this Practice Self Assessment.