A lead magnet is crucial if you’re looking to grow a mailing list for your business. But how often have you carried out a lead magnet audit? It’s not something that’s often thought about or even talked about, but it is an essential part of a business review.
Why you need to carry out a lead magnet audit
Things regularly change in your business. Your ideal client avatar may change, your promotional targets could change, and your entire business may pivot in a totally different direction. All of these things will impact the lead magnets you use.
As part of a business website audit, you’ll be checking your lead magnet opt-ins, but this only checks that you’re promoting the most recent one. That’s why you also need to be carrying out a separate lead magnet audit. This helps you decide if your actual lead magnets are still suitable and relevant to your audience and your business.
How to carry out your own lead magnet audit
So what does a lead magnet audit actually involve? After all, it can’t be that difficult, right? The good news is that it isn’t difficult – but it is probably more in-depth than you initially thought. Here are the basic things you need to incorporate into your audit.
#1: Number of sign-ups over time
Are you getting opt-ins to your lead magnet? Is your opt-in page working, or does it need updating? If you need more sign-ups, how can you improve your promotion strategy? [If you’re wondering how to check your website traffic, check out this blog post.]
#2: Did any convert into customers?
Sign-ups are one thing, but you need them to be relevant to your business. Ultimately, you also need them to become customers. So how many of those sign-ups converted into customers? If it’s low – do you have a strong CTA inside your lead magnet and in your follow up emails?
#3: Is your lead magnet still relevant to your ideal clients?
Does your lead magnet still solve one of the key problems/aspirations your ideal client has?
#4: Is it still aligned to what you’re selling?
Another area to consider during your lead magnet audit is whether your lead magnet still fits in with your business. Is it related to what you’re selling?
#5: Are you promoting the right one?
This may seem obvious, but if you have more than one, are you putting the right one on centre stage? You’ll be surprised at how many business owners forget to update the opt-ins on their homepage and main website pages to the latest lead magnet!
#6: Does your cover need a makeover?
Looking critically at your lead magnet – does it look dated? Does it need a cover revamp or an internal makeover?
#7: Is your title a strong one?
If you’re not getting a lot of sign-ups, does your lead magnet title need improving? Is it as solid and catchy as it can be? Can you carry out a split test?
#8: Does your lead magnet still accurately reflect your brand?
Brand colours and fonts change over time. If you’ve changed yours, did you also update your lead magnet colours and fonts to match?
#9: Are your images accurately reflecting you?
It’s an image that’s easy to forget – the one of you within your lead magnet. So does it need updating? It’s best to have an up-to-date photo of you – especially if you’ve drastically changed your hair, for example!
#10: Do you give your ideal clients the next steps?
Looking at your lead magnet, does it give your ideal clients their next steps? A good CTA will take them to the next logical step in their journey. Are you doing that with yours?
And there you have it! The ten steps you need to carry out your own lead magnet audit. If your lead magnet is doing really well, you may consider setting up a tripwire offer within your lead magnet funnel. You can find out how to do that here. If, however, you need to work at promoting your lead magnet more, you can get some ideas from this blog post. Finally, if your opt-in page isn’t converting or needs a slight improvement, this blog post will show you how to create the perfect opt-in page.