What is a lead magnet?

30 June 2022| Post by Gavin3 minutes

AuthorGavin

You may have heard a thing or two about lead magnets… But do you know how to make the most of them?

First things first, you may be wondering what exactly a lead magnet is! Put simply, it’s something of substantial value, given away for free, in order to attract your ideal customers and capture their details.

Lead magnets must offer plenty of value and excitement if you’re expecting prospects to exchange their personal details in return! We’ll show you how to make the most of them below…

Advantages

Lead magnets almost serve as bait, used to attract your ideal audience and customers. When executed well, they have many benefits such as;

  • Attracting high-quality leads
  • Building credibility and trust
  • Growing your email list

They provide an opportunity for your business to showcase its products or services to your ideal audience, without it feeling too ‘salesy.’ It’s your chance to demonstrate value, credibility and position yourself as an expert in your industry. The cool thing is, there’s not a one-size-fits-all solution to success, so you can really get creative and bring originality to your field.

How to create an effective lead magnet

Understand your target customer

Understanding your target customer can’t be underestimated when it comes to developing an effective lead magnet. How can you create something to entice your ideal customer, if you don’t understand their needs, wants and pain-points?

Take the time to research your ideal customer so you can ensure that what you create, really resonates with them. A few key things to get to grips with could be;

  • What do they Google?
  • What are their values?
  • Which social platform do they hang out on?
  • What is not fulfilling them right now?
  • How do they make their purchase decisions?
Create a value proposition

Once you’ve identified your ideal customer’s problems, work out both the benefits and value your business can offer to them. How can you solve your customer’s problems? Remember, your value proposition is a unique promise to your audience, so it’s important to get this across!

Decide on your format

Lead magnets can take many shapes, so spend time deciding on which format is right for your goal. Do you want to share industry secrets? Perhaps a cheat sheet is the way to go. Is your customer desperate for in-depth research and stats? Then a white-paper is the way forward!

Create your lead magnet

Here’s the exciting part! It’s time to create the lead magnet itself. This is (no surprise) the part of the process that will need the most time and energy.

Your well thought-out title might be good enough to get your prospects to download it, but if they’re disappointed with the content, you’ll leave a sour taste in their mouths! Ensure you research thoroughly, think creatively and have your target audience in mind. If you do this, we’re sure you’ll be on to winner.

Choose your call to action

You may have the best lead magnet in town, but if no-one knows how to download it or worse, is put off by a call to action (CTA) that feels too pushy, then all the hard work has been for nothing!

At this stage of the process, choosing your CTA wisely is extremely important. Using language that demonstrates value and relevance to the user, will result in more conversions and more high-quality leads.

Develop your follow-up strategy

Never forget the follow-up! We know, we know, you’ve already put so much work into creating something that attracts your ideal audience, but retaining those leads is just as important.

Having an automated email sequence to strategically follow-up with leads can be the key to converting them into paying customers. Think about including case studies, valuable content and demonstrate your unique value proposition to seal the deal.

If you’re in need of some more lead generation ideas, tap here! 

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