The Lead Magnet Lowdown: Using Them to Grow Your Business
The Lead Magnet Lowdown: What, Why and How
If I told you that there’s a very simple way for you to potentially generate thousands of leads per month for your business, would you believe me?
Well there is, and it’s commonly referred to as a ‘Lead Magnet’.
If you’ve ever heard me speak at a conference, or read through any of my marketing guides, then you’ll know how much I value the extraordinary power of a good lead magnet.
Read on to find out why!
What is a Lead Magnet, and Why Should You Create One?
You have probably responded to lead magnets in the past. Remember that downloadable template that promised to save you precious time, those great online selling tips, or that free webinar about blog writing?
These are all great lead magnet examples. The common ingredient is this: a tempting offer, usually free, that you make available on your website and promote across your social media platforms.
In exchange for your unique offer, website visitors will be asked to provide their contact information – usually their name and email address.
Not only will an original and well-thought-out lead magnet naturally generate more traffic to your website, it will also help you build and hone a list of prime contacts. These are people who have already expressed an interest in what you do, so they’re very likely to be interested in hearing more later on.
By staying in contact with relevant offers and advice, you will build familiarity and trust. Trust, as we know, is a key feature of most buying decisions.
There’s a lot competition for email addresses, even with the recent introduction of GDPR. That’s because email marketing is incredibly effective when it’s done well, often in exchange for very little investment.
Your lead magnet is the beginning of that process.
What’s the ‘Best’ Type of Lead Magnet?
There is no one surefire lead magnet design that will work for everyone, so it’s very important that the one you create is right for your business, and that it’s properly geared to the needs of your customers.
So, start by thinking about those customers. Who are they, and what are the most common questions they tend to ask? Your lead magnet will then help provide some of the answers, in a snappy and compelling way.
Most people love a shortcut, or a ‘fast track’ lesson, so keep this in mind!
For example, a website designer might produce a ‘cheat sheet’ about SEO, or a template that helps people generate ideas for their business logo.
A yoga teacher could create a fun quiz, such as ‘how flexible are you?’, or offer a free introductory video lesson. A marketing company might come up with a handy social media calendar, to help people schedule their posts.
Hopefully, you get the idea.
Before you go ahead and design your lead magnet, it’s a good idea to check what your competitors are doing. You’ll need to see if they’ve already come up with the same ideas (if they have, don’t worry – you now have a great opportunity to improve on them!)
How to Structure Your Lead Magnet
Whatever format you decide on for your lead magnet, it must do the following:
- Solve a specific problem
- Clearly demonstrate your offer
- Promise one ‘quick win’
- Be easy to digest
- Be accessible immediately
Your lead magnet should ideally be low-cost to produce but be of high value to the customer…for obvious reasons!
Don’t focus on content at the expense of design. It probably goes without saying that your lead magnet needs to be enticing, which means it has to look good.
Give your lead magnet an eye-catching title, one that’s descriptive and easy to understand at a glance. Don’t forget: your title also needs to tell people exactly what they’re going to get.
A good rule of thumb is to make your lead magnet so useful that people would probably pay for it if they were asked to. However, try to ensure that the content isn’t so comprehensive that it provides an entire solution. The idea of a lead magnet is to introduce people to your ideas and services, and to guide them into finding out more.
Finally, create a direct call to action at the end. What do you want people to do once they’ve finished reading or viewing?
If you can, create a specific landing page on your website as a ‘home’ for your lead magnet. When they’ve finished downloading it, you could then direct people to other sections of your site, such as your informative and entertaining blog!
If you need of some more ideas about how to integrate lead magnets into your marketing process, you need look no further than my book The Big Social Media Marketing Organiser.
Next week on my blog I’ll be sharing some of my favourite social media content creation tips and tools, a total must if you’re short on time.
In the meantime, if you have any lead magnet-related questions or comments, please post them below.