Ep 21: The Reason Authors Need Lead Magnets

[00:00:00] You probably have heard the term lead magnet, reader magnet and optin, and wondered, what in the world is that? And do I really need one? Well, in the world of online marketing, email lists are key. And a lead magnet is what you use to grow it. Now in this series, we’re gonna dive into all things lead magnets, but for today we’re gonna just talk about what exactly it is and why you as a fiction writer need to have one.

 Stay till the end because I’m gonna tell you the number one mistake writers make when creating a lead magnet.

Hi, I’m Rachel Fahrenbach and I help you get your novel into the hands of a reader. In order to understand what a lead magnet is and why you need it, you first have to understand what a ticket booth moment is. Now, a ticket booth moment is what every reader goes through when they encounter you and your work.

It’s a moment in which they have to decide. I’m gonna just dismiss them. I’m gonna ignore them. I don’t want what they have, [00:01:00] or I’m just gonna continue with their free content. I’m gonna follow them on socials. I may continue to listen to their podcast or read their blog, or watch their YouTube channel, or I’m going to opt in to their email list, which is where your lead magnet comes into play.

Or I’m gonna purchase a product. So it’s this ticket booth moment every reader goes through and they go through it again and again and again. It’s not a one-time deal.

If they do the first, if they dismiss you, they’re probably not your reader and you really don’t need to worry about them.

If they do the second where they continue with your free content, that’s good. But if they do the third, Opt into your email list or the fourth, buy a product. That’s a win.

When a reader opts into your email list, they actually have become your customer. They’ve exchanged a currency, in this case it’s their email, for a product, which is the lead magnet that you created. They’re [00:02:00] your customer. Good job. You’ve sold something. You’ve sold the lead magnet for an email address.

Now, this is even cooler when you realize that when somebody gives you their email address, they’re agreeing to have you remind them about other products and services that you have in their email inbox, which is so cool. So not only did they buy something from you, they’re saying, Hey, yeah, remind me of the other stuff you have.

Tell me what other things you have for sale. I want you to continue to be in contact with me, which is a huge win for you.

So think of it this way, social media followers are like somebody driving down the road and they see a billboard for your store and they’re like, oh yeah, that’s right. I like her, I like her stuff. Maybe I’ll stop by her store sometime. Let me make a mental note to stop by. I’ll do that later. And they keep driving by that social media really.

But your email list is where somebody’s inside your store exchanging [00:03:00] currency for a product. And then before they leave the store, they’re saying, Hey, make sure you tell me to come back in here and buy. And they leave. And then they get an email in their inbox that says, Hey, come back to our store and buy.

And they go, oh yeah, I wanna go buy that thing. And they come back and they buy it. That’s what the power of an email is, can do. And that’s the power of a lead magnet.

A lead magnet can come in various forms, but it tries to accomplish two things. It tries to fill a need or want for the customer, the, your reader, and it gives them a small sample of the experience that they can expect from you and your work. It gives them a taste of that experience you have will create for them in the future through your novel, through other writing that you do with other products you create.

That’s what the lead magnet does. But remember, it fills a need or want for the reader. It gives them like a small win. It gives them a small victory. It, it fills that thing on a very small level.

we’re gonna dive into examples [00:04:00] of lead magnets that work well with fiction writers and how to develop that and how to really make a lead magnet that works for your reader, um, in a future video. But if you’re like, I cannot wait, you can go download my lead magnet ideas for fiction writers at rachelfahrenbach.com/leadmagnet.

So a lead magnet really is important for you as a fiction writer because it entices your reader to become a customer that wants to be reminded of future products. And it really begins to solidify a relationship with you and the reader because now they have a small taste of what it is that you create and you do.

So when you have these other products that you bring up to them, they are ready to buy your things because they know what to expect from you. So you can kind of see how having a lead magnet and an email list sets you up for success in the future. Now, how this works with a traditional publisher, what you’ll find is when you’re writing your book proposals and whatnot, and pitching to a publisher, [00:05:00] they’re, they’re gonna ask you how many people are on your email list because they know that an engaged email list is a good indicator of an audience ready to buy a novel. And if you decide to go the self-publishing hybrid route, you are going to find that you’re gonna need that email list to sell to. Once that book comes out and having an engaged readership ready because they know what they can expect from you, and they’ve already said yes, tell us about your future products.

That’s gonna be really key for getting sales of your novel once it release.

As promised, here’s the number one mistake writers make when they are creating a lead magnet. They try to sell emails. Now, what do I mean by this? You probably have seen this, you might have even done this. You put a popup or a landing page that says, sign up for my email newsletter, or wanna hear progress about my novel? Sign up for my email newsletter. Here’s the thing you’ve got to remember. This is a [00:06:00] ticket booth moment where you are asking them to use the currency of their email address in exchange for a product. And I’m sorry, but nobody wants to buy more emails in their inbox. They don’t want that. They want something tangible that helps them get a little win or fill the little need or provide something that they want and gives them a little sample of what experience you can create for them through you and your work. They want that and they’re willing to part with their email address for that, and in doing so, they’re willing to take on the future emails, reminders, information about other products, they’re willing to handle that, but that’s not what they’re signing up for. They’re not, they’re not signing up for the emails.

They’re signing up for the thing. That’s what they’re exchanging their email address for. That’s what they’re handing over their currency for, not more emails. So nobody wants to buy more emails. And if you really are gonna be able to [00:07:00] entice them to part with their email address, you’re gonna have to create an opt-in, a lead magnet, a reader magnet. They all mean the same thing. You’re gonna have to create that something that’s very enticing to them.

And that’s what we’re gonna talk about in the next episode. So I hope you join us. I hope you come back next week as we continue this conversation about the business of Christian fiction and what we need to do as business owners to make sure that our books get into the hands of a reader. Join me next week. Bye.