When you think about giving away something of value for FREE... it might make you wonder, why in the world would you do that?!
But, when you understand that you can also monetize your lead magnet by upselling, 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 to them via the lead magnet so it quickly becomes a win-win to the targeted audience (if you’ve done a good job learning the audience and creating a targeted lead magnet).
When you monetize your lead magnet you can start making money faster and essentially get paid while you’re nurturing your audience.
Plus, there is an amazing benefit to monetizing your lead magnet - it gets your audience used to buying.
And, when someone does buy via clicking through a link on your lead magnet you can move them to a new email list by using tagging to better segment the list.
When someone buys from you in that way, then you know they’re ready to get more information about more things they need and want.
To do this you need to use analytics to track what gets your audience active and clicking and 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.
All along you’re also building trust with your audience members because what you recommend is truly amazing, and you know what they want. You’re simply putting in front of them what they want and need anyway. Because of this dedication to your audience, you’ll build your list faster and make more money while you’re building it.
Now it's your turn. Think of ways you can monetize the lead magnet you'll create.
What services and products (yours or someone else's) can you recommend that will REALLY make it easier for your people or show them the next step to take?
See you again tomorrow,