Lead magnet is one of the favorite jargon terms used by marketers. It is also a great tool in the digital marketing world. In today’s era, everything has shifted towards social media. Companies are now more focused on advertising their products online rather than doing a physical campaign. This means that digital marketing has advanced immensely at bullet speed. Companies are adopting several new tools to market their products most creatively.
As time passes and society grows, new ideas and techniques evolve even in the digital marketing world. Moreover, the market is flooded with revolutionary software to make any business grow and become profitable.
As we enter the new decade you must adapt to the rapidly changing trends of digital marketing. This is essential if you want to gain a competitive advantage in the digital world. This is done so that the companies can gain maximum market share to earn more profits. The larger the target market the more chances of them to convert the consumers into potential buyers of their products and services. That’s how the concept of the lead magnet tool comes into existence.
There is a very interesting concept presented by Brian Solis, that every business is threatened by Digital Darwinism, due to the rapidly changing society, changes in consumer behavior and the ever-evolving technology, in the year 2020.
Many online digital marketing gurus provide the best evidence-based and honest digital marketing tools and services that can outperform certain businesses. This is where the need for lead magnet tools pops up and businessmen are constantly surging out to find ways and means, to develop the best tools used in generating leads.
What Are Lead Magnets?
A lead is typically a potential customer for your business who might buy from you, but you want to make sure that this potential customer turns into a confirmed customer. Therefore, you must attract the right leads. To have a clear picture of your potential customer, you need to conduct proper research. Do not forget your existing customers at any point. Have a clear picture of your customers and understand your target market. Aim towards marketing your product in the right direction.
The lead magnet is the type of content that pulls the exact type of leads that you desire for your business. A lead magnet is an offer that marketeers offer to prospects or potential buyers in exchange for their valuable information. For example, email addresses or other contact information.
The main goal of a lead magnet is to acquire information about as many website visitors as you can and take the legal permission market about your products and services to them. This is not as easy as it may seem, you ought to offer something valuable in return to gain the important information of your prospective customers.
You can only trade with something that the website visitors deem to exchange something of high value. It is an incentive that marketers offer by attracting leads to the targeted marketing funnel.
How to Create a Lead Magnet
The following are the four basic steps to create the most efficient lead magnet:
- Choose a specific product or the service that you offer, to promote
- Determine the value that you can offer as the digital lead tool
- Create the most efficient and creative landing page for your lead magnet
- Setup the most important factor of automated email response.
Different Kinds of Lead Magnet
There are various types of lead magnets. The more valuable your lead magnet will be, the more likely your ideal customers would unleash their contacts for the leads that you offer. The lead magnets that you offer will vary upon the type of business you are. For example, is your company product-based or service-based?
Some of the most popular kind of lead magnets are:
- Template or digital tool kits
- Guide or statistics
- Buying guide
- Product catalog.
- Educational material on each product
- Free consultation
- Free assessment
- Free shipping/ discounted price
Here are the most popular lead magnets that can help your business grow and become successful:
An e-book is most commonly used lead magnet for many well-known companies. An e-book discusses a broader range of topics entertainingly and compulsively. The topics should not be too technical to be understood by your customers, rather more accessible to a wider range of audiences.
The reports work best in a business to a business environment where one business is trying to sell their products or services to the other. This is great to build the subscribers list for many different types of businesses. You need to identify your target market first to develop the best lead magnet in the form of a report. It is usually shorter than an e-book but of at least three to five pages.
3. The Workbook
Workbooks are also effective lead magnets because they provide a virtual walkthrough for your prospective customers into the whole process. The simple design with a good tagline is the key to the ultimate success.
4. The Checklist
They are more effective yet quicker. These are specific and satisfying having some options for other choices that you might make. Whatever you intend to offer, just remember it needs to be relatable to the consumers and prospective customers.
Do’s and Don’ts:
- Try to make your incentive attractive and unique
- The more the value the merrier
- Write good quality content that is easily understood by your customers.
- Offer solution
However, it depends mostly on the way you present it. Do not give a weak call to action, it won’t get your visitors to convert. Call the visitors to act right now, and do not give the option of considering if they might. Do not hesitate to invest in getting a professional to design your landing page in the most efficient manner. The poorly designed landing page will revert the visitors to some other competitors’ web page.
To say the least, it is important to be open to a variety of options in providing different lead magnets to your prospective customers and to make sure that they close the sales with you. For this purpose, it is important to build an attractive landing page where your customer’s presence is vital to attract the lead magnet. As for the lead magnet, make sure you have done enough of the research on your prospective customers before you offer something to your leads.
Quality information that interests your customers, apart from being educational and engaging; is the essence of making a huge list of customers who are already buying or you can fish them to buy from you in the future!