Why Do You Need Lead Magnet For your business?
Lead magnets are a crucial element of a successful digital marketing campaign for one reason. They can generate high-quality leads and increase the business’s revenue.
There’s a good possibility that you’re already familiar with the marketing term “Lead Magnet” or even downloaded one for your business at some point.
A Lead Magnet is a widely used tool that marketers can use to offer value to their potential customers in exchange for contact information. In most instances, this will be the email address. People love to receive free things.
No people are interested in giving out their personal information to a random website. However, they will tend to do so if you provide them with something attractive in return. That’s where Lead Magnet can help you.
Steps To Create a Lead Magnet
Here are the three simple steps that you can follow to create such a Lead Magnet.
Step 1 – Identify Customer Pain Points
For example, assume that your potential customers are struggling to lose weight. Then you can provide an e-book that contains healthy recipes. Likewise, it would be best to have a clear picture in mind about the customers’ pain points.
Step 2 – Identify Your Customer ‘Wins’
Next, you will need to identify the customer wins. These are the goals that your customers are looking forward to achieving. For example, people who struggle with obesity would consider losing 10 pounds within a week as a win.
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Step 3 – See what your competitors are offering.
Instead of coming up with a lead magnet on your own, you may take a quick look at your competitor’s offering to come up with a better lead magnet. This will help you to increase the overall success of your lead magnet.
Case study
Let’s take a look at an example that sells capsule coffee machines. People are interested in making great coffee in the comfort of their homes. To do that, they will go ahead and buy capsule coffee. However, they would like to try out the capsule coffee before they make a purchase.
This is where such a company can think about offering free capsule coffee samples to their potential customers.
However, those interested in getting the free capsule coffee pods will need to provide their email addresses. This will help the company to build up a mailing list that can increase its revenue.
The company can promote this offer through the paid ad campaigns on social media networks such as Instagram and Facebook.
On the other hand, the company can use the mailing list to run email marketing campaigns with discounts or coupons to re-engage those targeted customers. This will eventually assist in bringing in more revenue in the long run.
5 Types of Lead Magnets You Can Offer (with Examples)
There are plenty of great ideas for marketers to draw inspiration from to design quality lead magnets for their next campaign. Here are some examples; depending on your business:
– Coupons/Discount Codes
Getting a great deal is something that most shoppers are interested in. They will not mind providing their email address to get a discount. You need to make sure that you offer an exciting discount, which provides value to the potential customer. Then you will be able to end up getting their emails. However, you should also ensure that you are not losing any revenue just because you provide discounts.
– Free trials
For software companies, providing a free trial would be a great Lead Magnet that they can consider. People are quite skeptical before they spend their money to get hold of new software.
In other words, people wonder whether the software can deliver positive results to them or not. While keeping that in mind, you can provide a free trial period to the people and give them a chance to test the software.
Then they will be able to test the functionalities and subscribe to the paid version. Even if not, you will have the email address of that person. Hence, you can target that person in your future marketing campaigns.
– Give out free products samples
People love to receive free samples. This is where you can think about offering samples as lead magnets. Using samples as a lead magnet is something that you can often see in the beauty industry.
For example, if you are selling face serum, you can think about providing a free sample of it in a sachet pocket. People who are interested in buying it will be able to try out the product without spending any money. In return, you can get hold of the email address of that person.
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– Webinars
Webinars are online sessions that you conduct intending to share knowledge. This is one of the most effective lead magnets. Surveys have shown that users often find it more enjoyable to watch than reading through long-form content.
However, you should ensure that your prospects find time to attend the webinar. This is where you should get the assistance of an industry expert or an influencer to conduct the webinar.
Another advantage of webinars is that they only conduct at certain times, so the potential customers will feel the urgency and irresistibility to grab the offers provided.
– Checklists / EBooks
EBooks are the most widely used Lead Magnets by marketers. An eBook would contain valuable information related to a specific topic. You will be able to use the useful information to help a person overcome some of the challenges.
In return, you can expect that person to provide you with contact information. However, you must ensure that your eBook is providing valuable content.
Conclusion
The examples explain how marketers can use different lead magnets to grab their potential customers’ attention to receive fantastic returns for their digital marketing campaigns.
A great revenue-focused lead magnet addresses the initial promise when asking potential customers to give you their email. Marketers should not let them be frustrated with an over-promise clickbait offer. Instead, they should design an offer that supports the business KPIs and the target customer’s needs.
