What is a Lead Magnet?
A lead magnet is an incentive that marketers offer to potential buyers in exchange for their email address or other contact information. Lead magnets usually offer a piece of digital, downloadable content, such as a free PDF checklist, report, eBook, whitepaper, video, etc.
If you want to generate leads online, then your business needs a lead magnet. Period.
Why? Firstly because email is a very personal thing. People aren’t simply going to give you their email address without a good incentive, even if they like your brand. As a marketer, it is your job to give them a compelling reason to do so.
Secondly, only 3-5% of your websites traffic is ready to buy your product or service now. So what about the other 95%? Don't ignore them, some users will still be in the research or decision making stage of their buying journey, so it's important to convert these users into leads, where you can continue to nurture them through email.
Only 3-5% of your websites traffic is ready to buy your product or service now. So what about the other 95%?
What makes a good Lead Magnet?
There are 7 things that your lead magnet should do if you want it to be absolutely irresistible:
- Solves a real problem – if your lead magnet doesn’t solve a real problem that your customer avatar has, or if it doesn’t give them something they really want, it won’t work at all.
- Promises one quick win – your lead magnet should promise (and deliver) one quick win for your avatar. In other words, it should help them to easily achieve something.
- Super specific – don’t create a lead magnet about something general. The more specific you are about the benefit of your lead magnet, the better it will convert leads.
- Quick to digest – PDF checklists tend to convert really well because they are so quick and easy to digest. eBooks or lengthy reports may make your prospects feel overwhelmed.
- High value – your lead magnet should have both high perceived value and high actual value.
- Instantly accessible – your lead magnet will work best if it is something that can be delivered right away. People love instant gratification.
- Demonstrates your expertise or UVP – when someone consumes your lead magnet, it should demonstrate your expertise or your unique value proposition. This helps turn leads into customers down the road.
Now that you know how to create a good lead magnet, let’s dive into the lead magnet ideas and examples.
What are the most effective Lead Magnets?
These are some of the most effective lead magnets to offer to your potential customers.
- Industry Reports
- Short Ebooks