Lead Magnet

What is a Lead Magnet?

Why it is important

Well-thought-out, the Lead Magnets are an inexhaustible source for creating business opportunities.

They allow you to capture the data of the visits to your website and to introduce them into the company’s Lead Nurturing process until these contacts are ready to become a customer.

Offering something of value in exchange for personal data also serves to qualify and eliminate users of no interest to the company.

The more sensitive the data we request, the more qualified the leads will be, even if this means a lower volume.

Examples of effective Lead Magnet

There are many kinds of Lead Magnets to choose from. Ideally is to create the one which best suits our industry based on the interest of our buyer and the difficulty of producing them. We will summarise below some examples of very effective leads magnets:

1.- Guide/Report

ebook lead magnet
This type of Lead Magnet is the most common and simplest. It consists in offering free content that is relevant to your audience. The key to making your guide and report work well is that it solves an acute problem in a very concrete way. The Internet is full of these kinds of Lead magnets. In fact, one of the main reasons why the guide/report is the preferable Lead Magnet for marketers is because it works so well. Recommendation: Focus on solving a very specific pain point for your target audience.

2.- Toolbox/resource list

tool box lead magnet example
Toolbox and resource lists are excellent magnets for motivated customers. This provides them with a piece of reference material to use over and over again, making us present every time they have to look for one of the tools. This way they will always know where to find you

3.- Discounts and/or Free shipping

discount lead magnet
Users love discounts and getting things for free. For many people, providing an email address or phone number is a small price to pay if they can get a good discount or some advantage that reduces the acquisition cost of a purchase. This lead magnet is very effective among eCommerce users and among users of companies that sell physical products. Any subscription service that involves the repeated delivery of products should consider this type of lead magnet as they greatly shorten the time and steps in the sales funnel.

4. Audit, Consultation or Quotation of services

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These types of Leads Magnets are particularly effective for companies that sell services.

In this case, potential customers are not only looking for an answer, but also an expert opinion, so offering a specialized consultation or audit to provide a quote adds value to them.

Buyer people who are already interested in what your company offers will find this type of Lead Magnet very valuable to make a purchase decision and find out the price.

5. Questionnaire/survey

survey lead magnet

In some sectors, questionnaires and surveys have enormous value and are very effective as a Lead Magnet to attract customers.

Not only can they be used as part of a fun activity, but they also allow you to qualify prospects better and to get more accurate information about the potential customer.

To maximize conversion rates in this type of lead magnet, we recommend you submit the data request form after they have completed the questionnaire.

Companies that use this type of hook: insurance companies, banks, mortgage comparators, dealers, electricity and gas utilities, etc…

6.- Free trial or Free Trial Periods

free trial lead magnet

There are few Lead Magnets as effective for SaaS companies (and other software companies) as a free trial or a free trial period because as customers we love to try before we buy.

In this case, you can offer a time-limited version of your app or service with reduced functionalities.

It is the perfect step for interested users to get to know your product and then make an offer for your business.

7.- Masterclass or Webinars:

Free Lead Generation Webinars

Very popular with consultants, software implementers and especially with training companies.

Video is a very attractive format, and if you are comfortable in front of the camera and you have a skill you can teach, this could be the perfect Lead Magnet perfecto to offer.

Instead of a live webinar, you can send potential customers a private website with a recorded video or you can send them a recording of a previous webinar.

8. Online course

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It is one of the best performing lead magnets but at the same time the most time-consuming to produce.

It can be worth the effort if we are selling a high-ticket product or a service.

On the other hand, this type of resource is very easy to viralise among users on social media and allows you to capture a huge amount of incoming links, which is always good for SEO.

Keys to create an effective Lead Magnet

To create a Lead Magnet is expensive. We are not going to fool you.

It is necessary to plan and to create specific content that your audience or buyer people are willing to exchange for their data.

Here you are with 5 steps to simplify this task:

Step 1 – Choose a Customer Segment and Solve his problem

The biggest mistake you can make in creating your marketing hook is to try to attract too many people.

We recommend the opposite. Be as specific and concrete as possible.

It is the only way to create a relevant lead magnet that your potential customers want to get.

Therefore, establish your customer segments, identify the most urgent problem you can solve and create a first Lead Magnet for the most profitable customer segment of your business.

Do not worry about the rest, you will deal with it later.

Adheres to the pareto rule of 20% – 80%

Most companies have several types of buyers, but very often there is a small segment that accounts for 80% of the business.

So, your first Lead Magnet must be addressed to the most profitable segment of your customers.

Step 2 – Find out and Identify the Value Proposition

Once you have decided on your targeted prospects. You need to give them a compelling reason to download your Lead Magnet.
The amount of leads your Lead Magnet will be able to generate is directly linked to the promise you make to those leads.

Therefore:

The best value proposition you can offer is something your customer already needs.

Do not try to create something you think he will need.

Create something that solves something immediate and allows you to get results now.
So:

Think about something ultra-specific, common and that you can solve quickly.

Step 3 – Design a Memorable CTA for your Lead Magnet

Now that you know what you are going to offer and to whom, working on the call to action of your commercial hook will be easy.

The Call to Action must contain a synthesis of the value proposition to attract your target audience with the sole purpose of getting more conversations for your Lead magnet.

So, think about what it will be like.

Will it be a form in the sidebar, a banner, or maybe a floating bar visible in the menu?
Just like crafting an eye-catching headline for a marketing email or blog post, a good CTA for a Lead Magnet is bound to make a drastic difference to your conversion rate.

So, think carefully about this step.

If this is the first time you are going to create a call to action, do not miss our article on what is a call to option and what is it for?

Step 4 – Choose the type of Lead Magnet with which to capture Leads

By now, you probably have a good idea of the type of Lead Magnet you will offer:

  • A downloadable guide,
  • A market survey or report,
  • A success story,
  • An online course
  • Or just a webinar for a masterclass.

However, you often have several options to choose from that could deliver your value proposition.

If you are not sure, choose the type of Lead Magnet you are most comfortable creating.

You may not be fluent in writing but you are very good at communicating by video.

Or be very clear that the best thing you can do is to generate a free version of your application.

It is always about doing what involves less cost/time.

Let’s be quick.

Step 5 – Create the Lead Magnet

Finally, when all the strategic work is done, you just need to create your Lead Magnet and include it in your email marketing strategy.

You can produce the content yourself or have it produced by a third party.

That does not matter as long as the person creating it knows what he or she is talking about and is well directed.

If you keep these two things in mind, the production process will be simple and fast.

In conclusion:

The main function of a Lead Magnet is to capture new leads from interested prospects who, with time and the right incentives, will eventually become a customer for the business.

In other words, its main objective is to feed the sales funnel database for the sales team.

Hence, the importance of this resource for certain types of business.

In short, a Lead Magnet is used to put a name and last name to the anonymous visits of our digital assets.

Links and recommended reading:

Frequently Asked Questions

A Lead Magnet is one of the most widely used resources in inbound marketing to convert anonymous visits into views with a name and a last name. If you are looking to master the basics of online customer acquisition, understanding how lead magnets work and how they are designed is essential.

 

Creating the perfect Lead Magnet is a key task if we want to feed the sales funnel of a business. To simplify the process you should → Step 1 – Choose your most valuable Buyer Person → Step 2 – Identify the problem to solve and your value proposition → Step 3 – Design a spectacular CTA for your Lead Magnet → Step 4 – Decide the type of Lead Magnet you will offer → Step 5 – Create the Lead Magnet.