When it comes to lead magnets, entrepreneurs have a lot of choices. But one of the best choices is a live challenge. Not only does it provide excellent value to your audience, but it can also help you increase brand awareness and grow your business. This post will discuss why live challenges are a great idea for a lead magnet and how you can create one of your own. Keep reading to learn more!

What is a live challenge?

A live challenge is an event that takes place over a set period of time. It can be used to engage and connect with your audience, promote your brand, or grow your business. Most live challenges last for 3 to 5 days, and the challenge usually helps your ideal audience work through actionable steps to achieve a result.

For example: 5 Day Challenge to Create a Lead Magnet or 3-Day Live Challenge: Create Your Pitch for Increased Visibility

Why are live challenges a great idea for a lead magnet?

There are several reasons why live challenges make terrific lead magnets, but the main one is because you are spending more time with your audience. When you compare a 3 or 5-day live challenge to a 1-hour webinar, it just makes sense that your audience will feel more comfortable with you, your brand, and your offer.

It builds that know, like, and trust factor so much quicker, making it an awesome lead magnet for a launch.

Does it need to be a live challenge?

If you are doing a live launch with an open and closed cart period at the end of the challenge, then yes! You can also create an evergreen email challenge that leads to an evergreen membership or offer too. It won’t have as great of an engagement or conversion rate because the live aspect generates a lot of excitement around your challenge or launch.

Tips for running your live challenge:

Now that you know all about live challenges and why they make great lead magnets, it’s time to learn to create one of your own. Here are a few tips for running your challenge:

• Plan the challenge in advance. This will help ensure that everything goes smoothly and that you have enough time to promote it.
• Create a marketing plan to promote your live challenge before it begins.
• Decide if you’ll be running Facebook or other paid ads for getting more people into your live challenge.
• Determine your launch goals and numbers; for example, how many people do you want to sign up for the live challenge?

Then, we also need to plan the logistics with a live challenge, including:

• Setting up email automation for people who sign up, including call reminders and a way for them to add the live events to their calendar
• Are you going to host a pop-up Facebook group for your challenge?
• How are you going to host the live calls? On Zoom or Facebook Live?

Now you know why a live challenge is a great idea for creating a lead magnet, plus how to plan and run your own. Have fun with it!