You have probably been taught to build a perfect lead magnet conversion funnel or a seamless marketing pipeline that keeps driving in new leads even when you are offline. While this may sound like a straightforward process, even a well-devised lead magnet funnel may not derive the desired results.
The common signs of an ineffective lead funnel include:
- Your lead funnel is perfectly designed, but the people landing on the page are neither subscribing nor converting.
- You have a good number of conversions, but a high number of subscription cancellations.
- Visitors landing through search engines are converting, but visitors landing through social media platforms are not.
Before understanding the 5 common mistakes that many marketers make with lead magnets, let’s have a look at the 3types of lead magnet funnels.
Acquisition Funnels – These funnels are designed to acquire a maximum number of prospects and customers.
Activation Funnels–An activation funnel converts leads and prospects into customers or rebuilds the base of inactive and old customers.
Monetization Funnel–It is designed to initiate the sale process by persuading active prospects for purchasing products or services.
Throughout your business process, you will require all three types of lead magnet funnels. Therefore, you only have to decide which lead funnel is suitable for your business right now.
5 Common Mistakes Made with Lead Magnets
Nobody wants to make mistakes in business but when it comes to lead magnets, a single mistake can prove to be a major setback. Lead magnet conversions sound quite simple, but even an expert marketer can go wrong with it.
The following are the five most common mistakes that marketers make with lead magnets.
1. Poorly Targeted Messages
Poorly targeted messages mostly happen when marketers focus more on the conversion process so much that they end up ignoring the content or target market. Your target audience receives tens or hundreds of lead magnets per week. Poorly crafted messages lead to reduced subscriptions, increased subscription cancellations, and minimum conversions.
Solution: Focus on the conversion process, the content and the target market. Research your target market and prepare detailed demographics including age, gender, profession, interests, etc. Curate lead magnets that directly target your desired audience.
2. Poor Call to Action
Take the example of user experience in web development. Modern websites provide a clear pathway to visitors/customers to help them reach a desired web page or product. Similarly, you need a clear call-to-action that illustrates the need and benefits of action to your prospects.
Solution: Your call-to-action should not sound tacky. Develop a simple call-to-action that delivers value to your prospects and customers.
3. Complicated Processing
‘Sign up here. Then, click here to open a new page. Now, enter details here. Next, fill this form and we will send you an email. Open your email message and click on the link given in the email. A new page will open. Go to that page…..’
This is a typical example of a complicated signup process. Remember that your prospects and customers are bombarded with tons of information by hundreds of marketers which may leave them exhausted. It is important to remember that customers require simple and valuable solutions from you.
Solution: Keep the lead funnel as simple as you can. Minimize the conversion process into a maximum of five steps.
4. Failure to Deliver Value
Your potential customers are busy and bombarded with marketing strategies. They are not looking for tacky statements or glamorous marketing slogans. They need solutions and ideas! Many seemingly fine lead funnels fail to deliver value to their customers when marketers initiate the sale process too early.
Solution: Deliver value to your customers. Build a trustworthy relationship with them. Design your lead magnet into a problem-oriented, insightful and valuable product that is strongly related to the prospect’s needs and desires. Make sure that your content, products or services are not overly branded i.e. focused on your brand only. Focus on the needs of your prospects to ensure that they receive value and watch your conversions increase.
5. Failure to Follow Up
In the beginning of this guide, we discussed some common signs of a poorly functioning lead funnel. An increasing number of subscription cancellations or inactive prospects are one of the signs. It may happen when your marketing strategies are inclined towards attracting new prospects or building new leads only.
Solution: If you have a growing base of inactive customers, then it is time to focus on the Activation type of lead funnel. Secondly, devise a separate strategy for following-up with your established customer base.
It is never too late to improve your lead-prospect strategies. A small change today can bring you big profits in the future.
