We’re talking about freebies in the latest episode of the Wealthy Coach Podcast! You may have heard freebies also called a lead magnet, a free resource, a free gifts, a free gift, or an opt in. But basically what a freebie is, is something you give in exchange for somebody’s name and email address. You have done this before.
Someone says, Hey, do you want my free guide? And you end up on a webpage where you type in your first name and your email address. You press the button, and you go to your email. There’s a link in your email where you download that free resource. That is the freebie.
Resources mentioned in this episode:
Listen to the episode!
Before we get into the elements of a high converting lead magnet, I want to talk about the biggest mistakes that coaches are making while they build their email list.
Freebie mistake: saying newsletter or sign up as your lead
If you’re out there offering people access to your newsletter in exchange for their email address, you have to stop that. Nobody wants an email or a newsletter. You cannot offer a newsletter because nobody’s going to sign up for it. Same with if you say “sign up for my list to get updates”. Does anyone really want to just sign up for a list to get updates? Not really.
eBooks don’t convert well anymore
An eBook is a big commitment. Not just for you to create it, but it takes a long time to get through an ebook. Sometimes they’re hundreds of pages and it can be incredibly valuable. But the truth is when people sign up for something for free, the commitment just isn’t there. They forget about it because it was free. They didn’t have to give anything up other than their email address. And the truth is most people don’t finish an eBook. And you want people to finish it because at the end of your ebook, you’re going to ask them to sign up for a sales call or get them one step closer to buying.
Don’t make your lead magnet too much of a commitment
Typically the person downloading your freebie is meeting you for the first time. So don’t ask for too much of their time. You don’t want it to take them that much time to get through. Keep it simple, valuable, but make them want more from you.
Your freebie needs to connect with your niche
Your lead magnet needs to be 100% connected to your target audience. It needs to be incredibly aligned with your niche. And there should be no disconnect. It needs to help them learn something or get some specific outcome.
So those are the mistakes that people are typically making with their freebies. There are three freebies to consider testing out in 2021.
- Workbook: this is great because it’s actually quite easy to create, and doesn’t involve writing a lot of content.
- Mini course: if you chose to provide a mini course as your freebie, it should only take 10 minutes of your subscribers time.
- Tool kit or starter kit: this is basically a collection of resources that help someone get started you’re your niche problem. It should be a bunch of different resources in different mediums.
I hope this helps you create your next freebie!