Lead Magnets Gone Bad

Get instant access ... Psych! Claim your free report ... Got ya'! Ok, enough is enough.

They got me.

Again.

For the third time this year, I took the bait of a led magnet and lost.

The most recent incident happened on LinkedIn, where a prominent social media influencer offered a complete library of research on a very valuable topic I had been following.

I followed the instructions and then …

Nothing … nada … zilch.

The lead magnet did it’s job at getting a lead (me!)

But it failed to follow through with what it promised.

It made me realize that all the advancements in marketing and breakthroughs in technology won't overcome the absence of basic business fundamentals.

Ultimately, the success of a lead magnet comes down to execution and fulfillment.

But what exactly is a lead magnet?

Leads Magnets

A lead magnet is a free, valuable resource businesses or professionals offer on social media or websites in exchange for their contact information, usually an email address.

In today's digital landscape, getting someone's contact information (especially email) is the first step to building a relationship.

Example include:

1. Comprehensive reports

2. eBooks

3. Whitepapers

4. Case studies

5. Mini-courses

6. Useful tools

7. Free samples

8. Giveaways

9. Webinars

10. Free consultation

The type of lead magnet a person opts for can tell you a lot about their specific interests and where they are in their buying journey.

Once you have a lead's contact information, you can begin a lead nurturing process. This usually involves a series of automated emails (an email sequence) that provide more valuable content, answer common questions, address objections, and gradually introduce your solutions.

Compared to traditional advertising, lead magnets can be a highly cost-effective way to generate leads. They can transform casual social media browsers and passive website visitors into active prospects.

But there are many ways a lead magnet can go wrong …

😒 Bait and Wait

I recall my eagerness to obtain the research library offered by that respected social media influencer. Below was at the bottom of the social media post I responded to:

I meticulously followed the instructions. I liked the post, typed “edit” in the comments, and sent a connection request.

And then I waited … and waited … and waited.

As I later reviewed comments from the original post, it became clear that my experience with the offer wasn't unique.

I believe a lead magnet is your first opportunity to demonstrate your value and build trust. Failing to deliver on that initial promise can have a ripple effect that damages your brand and hinders your business growth.

Strike one.

😠 Bait and Inundate

Earlier in the year, I was enticed by another offer for a complimentary report on professional networking apps, only to discover it came with a 'processing fee.'

After I declined the offer, I was inundated with over a hundred emails, almost daily, that provide no unsubscribe link.

Even after requesting to be taken off their list a dozen times, the emails kept coming:

No names are blurred as they were fictional

The emails originated from half a dozen different addresses, with fabricated names, and containing URL’s that had broken links.

Strike two.

🤥 Bait and Exaggerate

Some posts or advertising offer the "bait" with highly exaggerated or misleading claims. It often falls under the broader umbrella of "false advertising."

This typically involves the 'bait and switch' method.

This is a deceptive sales tactic where a seller advertises a desirable, often low-priced, product or service (the "bait") to attract customers.

However, when customers inquire about or attempt to purchase the advertised item, the seller then tries to dissuade them from buying it and instead pressures them into purchasing a different, typically more expensive, or inferior product or service (the "switch").

Recently, I responded to a product that was posted online at a discounted price. I responded that I was interested in purchasing it, only to be told that it was out-of-stock and the only alternative offered was a similar model at a much higher price.

Strike three.

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✅ The Takeaway

Am I done taking the bait of lead magnets?

Probably not, but I am going to be more careful about who I engage with going forward.

The lead magnet strategy itself isn't the problem, but businesses can falter in its execution, turning a powerful tool into a regrettable waste of time and resources.

When executed strategically, with a clear understanding of the target audience's pain points and a strong follow-up plan, lead magnets remain one of the most effective and essential tools for lead generation and business growth.

Here's what I learned:

• Research the source - Before you download, quickly check out the website or company offering the lead magnet. Do they seem legitimate? Do they have a good reputation?

• Manage expectations - Understand that a lead magnet is often an entry point to a sales funnel. Expect follow-up emails, but ensure they are relevant and valuable.

• Prioritize value over "free" - Don't just download something because it's free. Evaluate if the content genuinely offers value and aligns with your needs.

• Unsubscribe - If you receive emails that are irrelevant, overly promotional, or feel like spam, unsubscribe immediately. Most reputable marketers make this easy.

By staying vigilant of red flags and taking proactive steps to protect your information, you can significantly reduce your exposure to bad lead magnets and ensure a more positive online experience.

Have a great weekend!

- Mike

👀 WHERE TO FIND ME

• LinkedIn: https://www.linkedin.com/in/mike-marcellus/

• X: https://twitter.com/TipclubInc

• Facebook: https://www.facebook.com/tipclub

• Instagram: https://www.instagram.com/tipclub.inc/

• Threads: https://www.threads.net/@tipclub.inc

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