Dan Martell - July 31, 2017


How To Create a Great SaaS Lead Magnet


Episode Stats

Length

6 minutes

Words per Minute

197.89073

Word Count

1,351

Sentence Count

68


Summary

Summaries generated with gmurro/bart-large-finetuned-filtered-spotify-podcast-summ .

Transcript

Transcript generated with Whisper (turbo).
00:00:00.000 Ch-ch-ch, story of content and pain.
00:00:04.640 Ooh yeah, story of content and pain.
00:00:08.200 You gotta nurture, nurture that lead.
00:00:10.320 Le-le-le-le-le-le-le-le-le-le-le-le-lead.
00:00:19.820 How to create a great SaaS lead magnet.
00:00:23.360 You know, most people are frustrated
00:00:24.760 because people come to their website
00:00:26.260 and they don't sign up, they don't connect.
00:00:28.700 There's no way for them to communicate with them
00:00:30.360 after they leave and the way to solve that
00:00:32.940 is to build something, a lead magnet,
00:00:35.340 that entices the customer, the potential customer,
00:00:38.100 to download and trade their email for your content.
00:00:41.720 That'll give you the opportunity to nurture them
00:00:43.880 along their buying journey and eventually get them back
00:00:46.420 to your product, but how do you create something
00:00:48.880 that's attractive to the customer?
00:00:50.180 You know, I recently had a conversation
00:00:52.200 with an entrepreneur that built,
00:00:54.160 essentially it was a software for architects
00:00:55.960 to manage land and create new property projects, et cetera.
00:01:00.900 And they were trying to figure out how do they communicate
00:01:02.660 with their potential customer.
00:01:04.500 And the whole long conversation came down to
00:01:07.780 what is the primary pain of your customer?
00:01:10.580 What is the challenge?
00:01:12.280 I'm gonna walk you through how to think through
00:01:13.720 these lead magnets, but what is the thing
00:01:15.680 they need solved today that if they came to your website,
00:01:18.280 it may not be your product, but it gets them into your world
00:01:21.860 by giving you their email for the content.
00:01:24.920 and he realized that it was people that own land
00:01:28.260 that want to figure out the right project
00:01:29.700 to monetize that land.
00:01:30.860 So he could literally create a lead magnet
00:01:33.020 with 13 monetizing strategies for land owners
00:01:36.740 and just run ads for people that have land.
00:01:39.400 He could even get the list of all the land owners
00:01:41.540 in a city and actually run mail,
00:01:43.880 direct mail to those people with that value prop,
00:01:47.040 that piece of content, that information
00:01:49.080 because if they have that pain
00:01:51.240 and he has an architecture software
00:01:52.580 that's gonna allow them to design the right project,
00:01:54.780 they would be an ideal customer.
00:01:56.640 But you need to figure out, many products out there,
00:01:59.260 many lead magnets don't actually address a primary pain.
00:02:02.620 They just talk about desires and needs.
00:02:05.000 And I wanna walk you through the three key characteristics
00:02:07.360 of an incredible lead magnet.
00:02:09.400 The first one is to focus on a specific area.
00:02:13.440 And many people just focus on passion.
00:02:15.060 So they're like, here's ways to get better at something.
00:02:17.460 Here's ways to accomplish something.
00:02:19.240 Those are great, but they're more passion focused, right?
00:02:23.740 It's kind of inspirational.
00:02:25.280 They're not solving a specific problem.
00:02:27.740 The second area you can look at is discomfort.
00:02:29.580 What is something that could be true in their world,
00:02:31.980 as a business owner, as a person,
00:02:34.460 that provides discomfort that you might be able to relieve
00:02:37.360 through your lead magnet?
00:02:38.620 The third and the most powerful, I think,
00:02:41.020 from a real good conversion is a fear.
00:02:44.100 What is the fear that they might have?
00:02:45.760 A fear of failure, a fear of, you know,
00:02:47.700 it depends on your customer segment.
00:02:49.460 It could be a fear of not monetizing
00:02:51.060 the right property or land,
00:02:52.840 but really focusing on the fear, not the passion,
00:02:55.980 not the discomfort, but really the fear
00:02:59.620 of the customer's mindset, that's the opportunity.
00:03:03.280 So that's number one, is focus.
00:03:04.620 Number two is the needs, okay?
00:03:06.620 There's different types of needs.
00:03:07.880 On the low end, it's not very powerful, is interest.
00:03:10.900 They might have an interest in something.
00:03:12.500 They might wanna learn more about something,
00:03:14.200 but it's more on the interest level.
00:03:15.560 On the second one is a strong desire.
00:03:17.960 So maybe they have an interest
00:03:20.000 and then they have a desire to learn more.
00:03:21.800 Maybe it's like a strong desire.
00:03:24.260 But to me it's not something that's even more powerful
00:03:26.840 than that which is urgent.
00:03:28.000 They have a primary pain and an urgent need to resolve that.
00:03:31.780 You know recently I had a friend of mine buy a puppy
00:03:34.480 and he came home after being at work all day
00:03:37.480 and the puppy literally tore apart their apartment.
00:03:40.720 So he had a urgent need for something that was a fear
00:03:45.060 which is the next day him doing it again
00:03:46.800 to potty train or puppy train the dog.
00:03:50.100 Okay, so if you had content around that,
00:03:51.760 even if he wasn't ready to buy your software
00:03:54.540 around training your dog, you could get him
00:03:57.140 to exchange his email for that information.
00:03:59.680 At the end of this video, I'm gonna share with you guys
00:04:00.880 how to test if your idea is truly awesome
00:04:03.780 on the levels I'm talking about.
00:04:05.180 So number two is the needs.
00:04:06.140 What are their needs?
00:04:07.060 Third is target.
00:04:07.960 I really think that most lead magnets
00:04:09.880 don't target a specific problem.
00:04:12.260 They're more general, they're broad, they're high category.
00:04:15.760 They're not very specific to a problem
00:04:17.900 the customer's having.
00:04:19.300 And it doesn't provide a solution.
00:04:21.140 So if you know their problem,
00:04:23.040 you need to provide the solution in the same lead magnet
00:04:25.200 and you need to speak to that as the value
00:04:27.580 if they exchange their email for your content.
00:04:30.380 And then finally, you need to focus on a customer segment.
00:04:33.480 So truly the targeted aspect, the third step, targeted,
00:04:37.120 making sure that it's for a specific customer segment.
00:04:40.680 If you do these three things,
00:04:41.920 I'm gonna teach you how to verify them.
00:04:43.400 If you do one, focus on a fear.
00:04:46.300 Two, make sure that it's an urgent need.
00:04:48.820 and three, really target it towards a specific problem,
00:04:52.920 a specific solution, and a specific segment,
00:04:56.560 you will build a great lead magnet
00:04:58.500 that converts and gets you qualified customers.
00:05:00.560 Now, here's the way you test it, okay, this is my tip,
00:05:03.340 is go on Amazon and search the topic
00:05:06.140 that you're thinking about doing a lead magnet on
00:05:08.600 and see if there's a book title on it
00:05:10.800 because that, especially like a dummy's book,
00:05:14.080 if you look online around book titles,
00:05:16.440 People that have pains and have needs
00:05:18.940 and really want them solved today,
00:05:20.880 those are the kind of pieces of content
00:05:22.620 that end up being a great book.
00:05:24.180 So if you can find books that have already been written
00:05:26.340 and have like several titles on the topic,
00:05:28.880 that's usually a thumbs up for a great piece of content
00:05:31.720 like a lead magnet.
00:05:32.800 Now, the other thing you wanna do is make sure
00:05:34.720 that people are running ads against that topic.
00:05:36.620 So here's how it works.
00:05:37.460 You actually take the exact same topic,
00:05:38.960 let's say puppy training, and you go on Google
00:05:41.600 and you search that, is anybody running ads
00:05:44.060 against that topic or that keyword or that segment
00:05:47.100 because if they're not, it's telling you
00:05:48.840 that there's not enough demand or it doesn't speak
00:05:51.140 to the specific problem that's an urgent
00:05:53.440 that somebody's gonna be willing to click and convert.
00:05:56.340 It also tells you that you can't monetize that pain
00:05:59.580 as well as something else that might be more a passion
00:06:01.780 or an interest or a strong desire.
00:06:03.520 You need something that is fear-based.
00:06:05.640 Unfortunately, that's just the way.
00:06:06.780 I mean, most people don't buy things
00:06:08.660 unless it's gonna solve a problem,
00:06:09.920 so you need to connect with that.
00:06:11.280 And then really make sure that it's an urgent need today.
00:06:13.520 it's not a nice to have, and testing it through Amazon,
00:06:16.920 through books, titles, and if there's ads
00:06:19.360 run against that topic on Google,
00:06:21.720 that's your opportunity to build an incredible lead magnet
00:06:24.240 for your SaaS business that converts great customers
00:06:26.960 that are in market and ready to buy.
00:06:28.740 As for usual, I wanna challenge you to live a bigger life
00:06:31.140 and a bigger business, and I'll see you next week.
00:06:33.380 If you like this video, be sure to subscribe to my channels
00:06:35.440 for other tips and strategies on how to start
00:06:37.040 and grow your business.
00:06:38.080 I'd also encourage you to join my newsletter
00:06:40.140 for community contests, free entrepreneurial training,
00:06:42.880 and other exclusive invites and if you're ready to keep going
00:06:45.820 I've got two videos queued up ready for you right there.
00:06:48.620 I'll see you next week.