As the mortgage industry becomes more advanced, sometimes classic strategies are still worthy of use. For example, in the article entitled “Creating Lead Magnets That Convert” by Clayton Johnson, he says marketing techniques are amazing. No matter how much technology advances online, some techniques never go out of style. One of these classics is a lead magnet.
Let’s take a look at what lead magnets are and how they can improve your marketing efforts.
How They Work
Traffic is great. But online success is about more than just driving people to your site. You want visitors who are actually interested in the products or services you provide.
Lead magnets are a marketing technique used to attract leads that are likely to convert. Basically, you offer something for free in exchange for the person’s email address. Then, you send this potential customer additional emails. Each email provides additional free content as well as information on your brand. Slowly but surely, you’re driving the customer toward a sale. This process is called a conversion funnel.
The Right Magnetic Energy
Here’s the thing. Suppose you sell designer furniture: You decide to offer a free product in exchange for email addresses as a way to generate some leads. You can probably get a ton of email addresses if you offer free iPads or big-screen TVs. Of course, that would be incredibly expensive, but you’re almost guaranteed to get a lot of responses.
The problem (aside from the cost) is that those email addresses aren’t going to be very good leads. Pretty much everybody wants a free iPad. There’s no particular connection between people who want a free iPad and people who want to buy designer furniture.
Offering Free Content
You want to offer content related to your brand. Here are three key ingredients to consider when developing your lead magnet:
>>Is this content something your audience will care about?
>>Does this content have any real-world value?
>>Does this content help solve a problem?
The first step to success is to understand your audience. You’ll want to develop a buyer persona. This is a detailed, fictional person who represents your larger customer base. You’ll also want to understand how your brand is perceived.
Launching A Lead Magnet
The ideal piece of content is something you can create for free but other people are willing to pay more for. This often means creating written content like an e-book. A great way to find out what type of information is popular in your niche is to search the Kindle Marketplace. What e-books are selling well? What type of format does the audience respond to?
When you’ve found some best-selling e-books, take a look at the reviews. Are there any common complaints? You’re looking for shortcomings. The idea is to create a better e-book and then offer it for free. You’ll promote the book by showcasing how your e-book has information the competition lacks.
Creating New Content
Writing an e-book can be a fairly labor-intensive project. Fortunately, you can still generate leads even before the book is finished. Hit up your social media pages and announce the topic of your new e-book. Explain that you’re just starting the writing process. Ask your social media followers for feedback. This accomplishes two things:
>>You’ll learn about the specific topics your potential audience is interested in.
>>You’ll create advanced buzz and excitement for your e-book.
Of course, once you do this you need to actually finish the e-book. If you can’t deliver on your promise, your customer base will have a hard time trusting you when it’s time to make a sale. But as long as you deliver, an announcement is an effective strategy.
Creating free content can pay off big time in terms of brand awareness and conversions. Following the tips above will focus your marketing efforts on people who are most likely to be interested in the products or services you provide.
About The Author
Michael Hammond is chief strategy officer at PROGRESS in Lending Association and is the founder and president of NexLevel Advisors. They provide solutions in business development, strategic selling, marketing, public relations and social media. He has close to two decades of leadership, management, marketing, sales and technical product experience. Michael held prior executive positions such as CEO, CMO, VP of Business Strategy, Director of Sales and Marketing and Director of Marketing for a number of leading companies. He is also only one of about 60 individuals to earn the Certified Mortgage Technologist (CMT) designation. Michael can be contacted via e-mail at email@example.com.