Lead Magnets: Generating Leads by Adding Value for Free
Leads come in various forms; website enquiries, phone calls, emails, referrals, social media, etc. For most businesses, phone calls and emails are how they receive most of their leads. Although any lead is better than no lead, a qualified lead is much more valuable than just any lead. Lead magnets are a great marketing tool to not only generate leads but also to provide the opportunity to build trust with qualified, potential customers.
Why Is Building Trust with Potential Customers Important?
In the Digital Age (and with digital marketing) access to information is literally at our fingertips. If you search Google for any product or service, chances are that you’ll find multiple businesses that provide what you’re looking for. Ranking #1 on Google isn’t always enough to convert a Google user into a customer, however. With digital marketing, it oftentimes takes multiple touchpoints (remarketing) before a user will pull the trigger and take their wallet out of their pocket.
A lead magnet gives you the opportunity to provide a potential customer with useful information at no cost, other than their contact details. If that information within the lead magnet proves to be of any value to the customer, you will have gained the customer’s trust - putting you miles ahead of your competition that offers the same service or product.
What Is a Lead Magnet?
Lead magnets come in various formats. If you have done any content marketing (even if it’s just content for a blog), there is a good chance that you have already created content that can be repurposed into a lead magnet that provides value for your customer/s.
At the core, the most important thing is that a lead magnet provides value. For instance, a PDF checklist of what you would need to pack to travel to Africa could be a great lead magnet for a travel agency to provide. Or a “Guide to Helping Your Baby Get Better Sleep” is a great lead magnet for a Baby Sleep Consultant. In both cases, you are providing actual value in exchange for nothing more than a name and an email address.
Lead Magnet Examples
A PDF or Downloadable Document
Checklists, whitepapers, templates, useful spreadsheets, guides and eBooks can serve as lead magnets, depending on the content. In many cases, you already have a blog post, or more, that can be repurposed into one of the above and offered as a lead magnet. Maybe there is a popularly asked question or prominent point related to your service or industry that can be solved with a downloadable document.
A Webinar, Video, Podcast or Audio Recording
It is reasonably easy for anyone to create and upload a video to a platform like YouTube, or Vimeo. That video can be kept private and only shared to users who have signed up to view it via a form on your website. In exchange for a name and email address, the potential customer can gain access to the pre-recorded video. Best of all, based on the content in the video, you will know what critical issue the potential customer is facing, and you can easily offer your service or product to solve it. The same can be done using a podcast or audio recording.
Free 15 Minute Zoom, Skype, Meets or Teams Consultation
When we created a lead magnet for a Baby Sleep Consulting service, we quickly noticed a huge spike in new email addresses signing up to receive a “Guide to Helping Your Baby Get Better Sleep” PDF. But relying solely on the lead magnet to get the potential customer to book a consultation didn’t lead to that many consultation bookings.
Sometimes, especially in this industry, it is hard to convert the lead into a customer, even when they downloaded the lead magnet and we know that they’re the right target audience. For that reason, we also offered a free 15-minute phone/Skype call with a Baby Sleep Consultant. Every single client that booked the free 15-minute call then went on to book a full hour or more consultation and sleep training for their baby.
Simply Creating A Lead Magnet Is Not Enough
Creating a lead magnet will take some work, but it doesn’t stop there.
How will people even know that your lead magnet exists?
Besides creating a landing page, you will have to drive traffic to said page. For the Baby Sleep Consultant client, we wrote four blog posts related to baby and toddler sleep, and in these blog posts, we included a banner to promote the lead magnet.
To help drive traffic to these blog posts, we ran Facebook ad campaigns with ads promoting each blog post. On top of that, we also had re-targeting ads to retarget any visitors that might not have signed-up to get the lead magnet, even after reading any of the blog posts.
A Lead Magnet Strategy
A lead magnet is only as effective as the strategy around the lead magnet itself. Digital marketing specialists will be able to help you identify a lead magnet that will suit your business objectives, and create the needed strategy to introduce it to your target audience and potential clients.
If you need help with a lead magnet strategy, feel free to get in touch and we will help you create and deploy a lead magnet that brings you qualified leads.