Have you ever heard of a lead magnet? If you’ve spent much time on the internet, you’ve most likely come across them. It’s a phrase used to describe a form of value created to attract potential customers. Essentially, it’s free stuff given to people who may be interested in your products or services. Now, a lead magnet can take on many different forms and should accomplish three specific outcomes. We’ll explore them in more detail and work on creating your perfect lead magnet.
The Purpose of a Lead Magnet
You may be asking yourself, what’s the purpose of a lead magnet? Well, it generally comes down to one thing, obtaining an email address. Companies with an email list of customers own direct access to their audience. Reaching customers through social media is effective, but regarded as rented space. Facebook could close up tomorrow (although unlikely) and potentially lose connection with all those followers. Email allows you to place your subscribers in a sales funnel, beginning with a number of nurturing emails that eventually lead to a sales email.
However, consumers don’t give away their email willingly. They are personal and people don’t want their inbox cluttered with spam. Simply asking your visitors to subscribe for vague “updates” will not suffice. You must provide some form of value in exchange for their email address. This could take many different forms and will depend on the type of product or service you provide.
Requirements of a Successful Lead Magnet
You may be wondering what defines a successful lead magnet. While many factors may affect success, the following should provide helpful insight into reaching the desired outcome.
1. Value
First and foremost, your lead magnet should provide massive value. Such value that your customers would consider paying for it. If your offer isn’t of high value, you risk decreased sales when releasing your premium products and services.
2. Authority
Your lead magnet needs to express authority in your specific field. By demonstrating your knowledge and expertise, customers will feel at ease and build trust. This in turn will lead to stronger sales and repeat clientele.
3. Results
Why would anyone come across your lead magnet? They’re most likely looking to learn something new or solve a problem. A successful lead magnet needs to help the customer attain their desired outcome. If your lead magnet provides results, they’ll be eager to purchase your premium products.
Types of Lead Magnets
The following provides a number of lead magnet ideas to get you started. However, don’t limit yourself to the list provided. Be creative and if you find a new way to provide value to your customers, go for it!
eBook
eBooks are a great choice when creating a lead magnet. A simple downloadable PDF provides information in a concise and digestible manner that is highly informative.
Online Course
An excellent lead magnet is the creation of a free online course. This could be a video course, a collection of written documents, or an automated email campaign among others. The focus of your course should express the end result…what transformation will your customer experience by taking your online course?
Webinar
Holding a webinar is another effective lead magnet that introduces people to your products and services. They can be live or pre-recorded as long as they provide value. Obviously, a live webinar will be more effective as you can interact with your customers and answer any questions they may have.
Downloadable Guide
A PDF guide assembles valuable information from across the web into one helpful resource. This could be information from your own website or other sources as long as you provide links to the original content.
Free Trial/Demo
A free trial is an excellent lead magnet. If your product or service is of great need, people will gladly share their information for a test run. If a free trial isn’t fitting, a free demo is of value as well. These two options provide your audience with risk avoidance. No one wants to purchase a product or service without assurance that it will work for them.
Free Samples
Who doesn’t like free samples! By offering your audience a free sample, you again mitigate the risk involved with making a purchase. Blue Apron is a service that delivers ready to cook meals to their customers but provides the option to send a free sample to your friends or family. It’s a great combination of word of mouth advertising with a free trial.
The Kit, Checklist, Workbook, Etc.
One quick, easy, and valuable lead magnet is through the use of downloadable aids. This can take the form of checklists, kits, workbooks, and more. For example, you could provide a college checklist that provides all the essentials for your freshman year. Or perhaps a workbook that helps you create your own business plan. The possibilities are almost endless as long as it provides your customers with value.
Live Events
Live events are another great way to not only build your email list, but build trust with your potential customers. Events provide the opportunity to provide massive value and build rapport with those who are in need of your products and services.
Creating Your Perfect Lead Magnet
As you can see, there are a number of ways to provide value to your audience. Find which lead magnet works for you or find another option that may not be listed. Get creative and whenever you come up with an idea, write it down for future reference. However you package it, as long as you provide massive value, establish yourself as an authority, and show results, you’re sure to build an impressive customer list.
What are you’re thoughts, any questions or comments? Do you find a specific lead magnet to be most effective? Leave a comment below!
