What is a lead magnet and how can it boost your marketing?
June 01, 2021
What is a lead magnet?
- A trial subscription
- Some samples
- White papers
- Free consultations
Marketing via email or WhatsApp is essential for generating leads and converting your prospects into customers. So, how do you manage to collect emails or phone numbers from your contacts?
If you want to generate leads online, your business needs a lead magnet.
Why? Because an email address is a very personal thing. People aren't going to just give you their email address without a good incentive, even if they love your brand. As a salesperson, CEO, or marketer, it's your job to give them a compelling reason to do so.
There are several types of lead magnets. The most successful lead magnets offer irresistible and instant rewards to your visitors.
Checklists are the best of all lead magnets, probably because they are easy to produce and consume. They condense everything the user needs to know into a single, actionable list.
They are also very quick to create. For example, you can summarize your popular blog posts as checklists and turn them into new content. Then combine that new content with a signup form, and your conversions will skyrocket.
They are irresistible because they take away the need to think in order to accomplish a goal.
A cheatsheet can for example be, the “6 positions to have a flat stomach in 12 weeks”. It would contain images that your target can glance at during their sports practice to remember what to do.
The Mini Ebook
The mini-ebook is perfect when you have a series of blog posts on a related topic. For example, if you run an online pet store, you could select the following five articles from your blog to combine them into one ebook:
- The 5 pieces of equipment every puppy needs
- The ultimate guide to training a puppy
- The first 6 months: what to expect from your new puppy
- The Puppy Nutrition Guide: What Your Dog Should and Shouldn't Eat
- The 7 things you should never do when training a puppy
This type of ebook is effective because you make life easier for your website visitors - which should be the goal of any lead magnet you create. Rather than having them find all of this content in one article at a time, you bundle it into a handy bundle that they can keep and review.
The ultimate guide
If you're in an already established field, it can be difficult to find original content. Sometimes other people have covered a topic in such detail that it's almost impossible to add any additional value. In this situation, I would recommend producing an ultimate guide.
An Ultimate Guide is a comprehensive collection of the best articles on a particular topic. The main difference between this and a mini ebook? You don't recycle your own blog posts; you connect directly to other sites. It's important not to copy and paste someone else's content into your guide, but instead, include a link to the original article.
The Case Study Case
studies are very specific types of content, but the successes they reveal can inspire a potential customer to take action.
If you have a blog post or interview that highlights a real customer you've worked with, bundle that content into a written case study that explains the customer's need and the metrics of their success. Then offer this case study after a form that website visitors will need to fill out with their name and email address to access the study.
Keep in mind that you will need the permission and approval of the client you want to create a case study on. Once you've received that approval, however, it's an ideal lead magnet that informs your readers of the success your client has had under your direction.
Webinars don't have to be long collaborative presentations with multiple colleagues or partners. If you have a blog post that simply touches on a topic you're an expert in, use that blog post as a springboard into a live conversation between you and a coworker.
If you've written an article on 6 ways to get in shape after pregnancy, for example, convert that article to Prezi or PowerPoint. Present this document via a live video conferencing platform, using helpful visuals and, of course, your own voice to provide insight that listeners wouldn't get from just the blog post.
What makes it a lead magnet? You will invite people to the webinar after collecting their email addresses, and even ask questions that allow you to rank those speaking during the webinar as more qualified leads to follow after the webinar ends.
Be sure to specify the date of the webinar when promoting it through your CTA (Call to Action) button and feel free to offer it more than once if the initial results are inconclusive.
How to create a lead magnet in a few hours
Step 1 - Choose Your Persona
The biggest mistake marketers make with their Lead Magnets is trying to attract too many people. You want to do the exact opposite.
Your Lead Magnet should be ultra-specific to the people you want to attract. If your Lead Magnet doesn't match your buyer's wants and needs, they won't download it.
Most businesses have more than one type of buyer, but each Lead Magnet should target only one of them.
Step 2 - Identify Your Value Proposition
Once you've decided which leads you to want to target, you need to give them a compelling reason to download your Lead Magnet. The number of conversions your Lead Magnet generates will be directly related to the promise you make to those prospects.
The best value propositions are something your buyer already needs. Instead of trying to create something you think they might want, figure out what they already need and give it to them.
In this case, more is not better. Don't try to write a big ebook or create a 30-day email course. Think ultra-specific!
Find a common problem your buyer is facing and make a quick fix for it. The faster you get results, the better.
Step 3 - Name Your Lead Magnet
Now that you know what you are offering and to whom, it will be easy to name your Lead Magnet. Your headline is basically a headline for your value proposition that catches your persona.
Similar to creating a catchy title for an email or blog post, the title of your Lead Magnet is likely to make a drastic difference in their conversion rate.
Step 4 - Choose the Type of Lead Magnet you will be offering
Now you probably have a good idea of the type of Lead Magnet you are going to offer. However, you often have a choice of several likely options to effectively convey your value proposition.
Here are some things to keep in mind to help you:
Keep it Simple - An overly complicated Lead Magnet defeats the purpose. If no one understands what you are saying, your audience won't be able to appreciate it. Keep it simple, concise, and deliver value.
Focus on Your Strengths - Are You a Great Writer? An eBook will probably be your best format. Not so good at writing, but comfortable in front of the camera? Instead, make a video.
Prioritize fast consumption - You want to solve your persona problem as quickly as possible. This gives them a quick win (which you promised) and converts them faster. Choose a format that allows for quick delivery and consumption.
Step 5 - Create Your Lead Magnet
The strategic work is done, but you still need to invest in creating your Lead Magnet.
When working on your Lead Magnet, remember who it is for and the value proposition you promise them. If you keep these two things in mind, the process will be straightforward.