Lead magnets are sometimes called:
- Signup Incentives
- Signup Offers
- Ethical Bribes
- Freebies
- IFO ( Irresistible Free Offer )
or a number of other names.
The 2 most important traits of a GREAT lead magnet are:
- It is exceptionally useful to your target audience and offers a very specific solution to a specific problem they are dealing with right now. It speaks to a known desired end result – AKA it solves a problem.
- A good lead magnet entices new potential clients because it gives them something they NEED.
- It offers immediate gratification and is quick to digest. Avoid using newsletters and multi-day courses as lead magnets. These days, people are too busy to wade through a whole eBook. Give your potential clients a solution they can use now.
How to pick the content and topic of your own lead magnet:
In an excellent article “How to Create an Irresistible Lead Magnet”, AdEspresso suggests a systematic approach:
- You need to start with the audience to ask yourself:
- Who do you want to approach?
- What stage of the buying cycle are these people now?
- What’s their buying intent?
- What problem they’re trying to solve?
- What are their “pain points” and priorities?
- What are the issues they have?
- What is the problem they are trying to put an end to?
- How can I offer insight about the problem in a way no one else can?
- Next, use the web and start confirming your suspicions.
- Talk to your sales and customer service teams.
- Review your previous content on the topic
Lead Magnet Ideas:
1. Checklists
Of all types of lead magnets, checklists convert the best, probably because they are so easy to use. They condense everything the person needs to know into one actionable list.
Checklists are also very quick to create. For example, you could summarize your most popular blog posts into a checklist, and turn it into a content upgrade.
2. Cheat Sheet or Swipe File
Cheat sheets and swipe files offer a very specific shortcut for your audience to use. You might already have one that you use for your day-to-day work.
3. Templates
A template can be anything that provides an outline or starting point to complete a goal or project. All the user has to do is fill in the blanks.
4. Coupons
A coupon is a timeless lead magnet that works best in the retail industry.
5. Contests
A contest to give away a free product or service can be a strong lead magnet. If you choose this option, ensure the giveaway is clearly aligned with your business’ core offering. For example, if you are an HVAC company, don’t give away a free iPad. This doesn’t show your expertise, and might only bring subscribers who want a free gift – not your services.
A great example of a contest is if you have an event. Offer free tickets. Anyone who opts in for the contest will be interested in your event, and will contribute to a very qualified email list for your business.
A contest also works if you can give away a product you sell, as the prize.
Here’s a high stack example:
A $5,500 lead magnet is not something you see every day. This one comes from an HVAC company. This is not the first time they are running a contest with a high-price prize, so the lead magnet has been worthwhile for them in the past.
Without a doubt, whoever enters their contest is very likely to be in their target market, meaning they are building a highly qualified list of leads.
The Takeaway
Keep in mind the basic principles of a lead magnet. Make it targeted, useful, easily digested and a showcase of your expertise. Whatever type of lead magnet you create for your website, these key elements will ensure it becomes a high-converting, money-making tool for your business!
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