What is a Lead Magnet?
A lead magnet is a piece of content that is designed to entice potential customers to fill out a form and give you a lead. The term is a hand-me-down from old cop dramas where detectives would publicly offer a reward to exchange for information on a case.
If you want more subscribers, more clicks, views and leads then the best way to get them is to make a lead magnet. It is a motivator for potential customers to take the desired action. Most importantly it is a chance to reach a potential customer at different stages in the buying cycle and convert them.
But a lead magnet isn’t just a promotional offer, it is an irresistible promotional offer. Common types of lead magnets are “sign-up incentives”, “sign-up offers”, “upgrades”, “freemiums”, and many other terms. They can be a free e-book in PDF form, a newsletter subscription course, a coupon, or a free sample.
But a lead magnet is not just a carrot on a stick. Lead magnets are content that is optimized at each point in the buying cycle and can show up in organic searches. So what does that mean? It means making the right offer at the right time.
A debt consolidation company, for example, might have an e-book called “18 ways to free yourself from debt”. This is a lead magnet and addresses someone who is “not ready” to hire a debt company yet, they fill out the form and get the book and read it. A few days later they get an email saying to call the debt consolidation company for a free evaluation plus 10% off future services and they call them and sign up. This debt consolidation company used two lead magnets to convert this potential customer.
Lead magnets should be well thought out and be developed to fit the mindset of your consumers at different stages in your own buying cycle.
1. Free Guides or Reports
Information is valuable, especially if it’s unique and insightful. If you can compile a report or a guide about something in your industry that is important to your consumers to read then this would be a very effective lead magnet.
2. Quick Help Reference
These are very brief and helpful guides. Flow charts, graphs, reminders, and mantras are good examples.
Putting data into visual graphics is a new and fun way to digest content. These are highly shareable as well and can have a big impact on inbound links and traffic to your site.
4. Resource List
A list of links, books or other sources of information can keep customers thinking about your product while spending time learning more about it.
5. Video Tutorials
Exclusive access to a video series is a great way to keep them engaged and to offer them valuable content. If the series pertains to a need your consumer has, this tactic is highly effective in capturing and nurturing leads.
6. Free Shipping
Nobody likes paying for shipping. It leaves the entire online buying process a bit sour. Free shipping is a golden god in the online eCommerce world. If you can offer free shipping then that’s an enticing lead magnet!
7. Cheat Sheets
Cheat sheets can be developed that allow your consumers a quick and easy reference to important topics or issues in your industry.
8. Assessment Tests
A FREE assessment test can have a big impact on the number of leads you get. Offering a FREE assessment test is something valuable to a consumer and adds value to the consumer so they are more likely to provide their contact information.
The Key to Lead Magnets
The key is finding and fine-tuning the best lead magnets for your content, your product and your target demographic. Remember, it is all about creating content for the different phases of your buying cycle that resonate with your consumer base. If you’re not doing lead magnets, then your missing out on a fully integrated marketing campaign that can have a positive impact on your digital performance.
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