Why you want to monetize your lead magnets
When you think about giving something of value away for free, it might make you wonder why you’d want to do that. Here’s a little something to consider: when you monetize your lead magnets by upselling, cross-selling, and promoting products inside them, then it’s not really free at all.
Yes, it’s true there is no cost to the end user up front, but if you’ve done your targeting properly and created a lead magnet that is useful and relevant to your audience, a good percentage of them will check out the products and services you are recommending.
One of the benefits of monetizing your lead magnets is that you can start making money faster and essentially get paid while you’re nurturing your audience. You get your audience used to seeing offers and buying from you. I can’t tell you how many times I’ve seen people offer lead magnets with no links or monetization in them and then they wonder why people don’t buy from them. If you want to make money in your business, you really do have to sell something and get your audience used to seeing paid offers from you.
And, when someone does buy through a link on your lead magnet you can move them to a new customer email list by using tagging to better provide products and services they’ve shown you that they want.
Getting your audience into the habit of buying the items you suggest requires that you really understand who they are, what they need as well as what they want. To do this you need to get in the habit of using 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 deserve to be liked and trusted.
Here’s what the process looks like:
Step 1: Create an easy to use a targeted lead magnet that solves one problem for your audience.
Step 2: Inside the lead magnet be sure to include strategic opportunities for your new audience member to make purchases of the resources you recommend. When you recommend high-quality solutions to your audience, they get used to trusting you and they’re much more likely to keep opening your emails and taking your advice.
But, I can hear you asking, because I asked the same thing when I started… Isn’t it wrong to start selling to your audience in the first thing they get from you?
The short answer is, no, it’s not wrong. As I mentioned earlier in this article, you want to get your new audience in the habit of seeing offers from you and clicking on links to what you recommend.
And the truth is, you don’t have to add salesy offers if you don’t want to. (You’ll want to eventually, but if you’re just getting to know your audience, there are ways to monetize your lead magnets without being salesy.
Here are 3 easy ways to monetize your lead magnets:
Monetization Method #1: Include a Resource Page
Depending on what format your lead magnet is in, you can easily add a “Recommended Resources” page at the end of the document. This is a great place to recap and products or services you’ve mentioned in the actual content, and to include links for your customers to check out. If you have affiliate links, use those (and be sure to disclose that it’s an affiliate link). If not, just use the raw links – offering links with no compensation is a great way to build trust with your audience.
Monetization Method #2: Add an Author Page
Adding an “About the Author” page is another easy way to monetize your lead magnets. You should always have a page letting your new readers know who you are and why you’re qualifies to share this information. This is the ideal place to link to your own products and courses and to show your audience how they can benefit from getting to know you and your business.
Monetization Method #3: Links in the Content
Whenever you mention a resource within the content of your lead magnet it’s a good opportunity to include a link to it. Using links in the content emphasizes the text that’s important while not interrupting the flow of the content.
Monetizing your lead magnets right from the beginning sets the stage for your new audience to expect offers from you. Using the three methods I’ve shared here will allow you to start that process without being overly salesy by sharing relevant resources and information. And after all, that’s the whole purpose of your lead magnet right?
You want to get people to sign up for your email list so that you can share even more of your products and services with them!