In today’s business world everyone needs a website. They are easy and inexpensive to set up so why not invest in one for your business? However, they can also be tremendous profit centers. A high-performing website can help make sales while you sleep. Enticing lead magnets are the place to start.
What is a lead magnet?
A lead magnet is a free offer given to a prospect in exchange for contact information. An effective lead magnet offers the prospect something valuable enough that they are willing to part with their contact information to get it. Most website visitors are not ready to buy when they click on the site. But, if they are willing to give their email address for the free download (or whatever the magnet may be) then that increases the chances that they will be willing to buy in the future. The key is figuring out what your ideal customer wants and giving them a little taste of that in the lead magnet. Then, you can treat them like a warm lead and follow up accordingly to get the sale.
Components of an effective lead magnet:
An effective lead magnet can be gauged by how many sales it converts. So, there are a few components that a great lead magnet must have.
Easy to consume – The only way a lead magnet works is if your audience uses it. Your encyclopedia of business knowledge will not win them over. It’s too difficult to take in. Make sure your magnet is user- friendly.
Actionable – Your lead magnet needs to be useful to your target market in some capacity. They shouldn’t be able to simply take it or leave it. They need to want it.
A marked improvement – a lead magnet can be an effective “try before you buy” scenario. If the lead magnet improves your prospect’s life in some fashion you have earned their trust. This makes it much easier to earn their business.
Free – Lead magnets should never cost your prospect monetarily. The “payment” for the lead magnet is their contact information.
Relevance – Your lead magnet should not be outdated. It should be applicable to your prospect today.
Get it now – Stellar lead magnets should be a quick download. If potential customers must wait a week for their gift they will forget about you and you may lose the sale.
Examples of types of lead magnets:
Lead magnets take on many forms. There are a few common (and typically successful) types of lead magnets used by the pros.
Free guide – This one is common and can be done effectively. However, you want to make sure your guide is not too general. It needs to be specific to your ideal customer.
Handout or cheat sheet – These are a great option because they are short and sweet. One page is normal. You give enough away to satisfy your customer and leave them wanting more.
Free trial – Free trials are great because the customer can try out your business before committing.
Examples of great lead magnets and why they work:
Sales benchmark index – This company had free download tool called “7 Game Changing Ideas for Sales Leaders”. It was valuable to their target market, those in the sales industry. This magnet also allowed Sales Benchmark index to showcase their industry expertise. Thus, gaining their prospects trust.
Groove HQ – Groove HQ’s lead magnet was a 60-day free software trial. It allows the prospect to try before they buy. But, it is also a limited time offer. If prospects want more, they will have to make the purchase. This magnet allows Groove HQ to focus on serious prospects. Anyone uninterested in the taking the software for a test run will not opt-in.
Digital Marketer – Digital marketer offers a lead magnet called “the ultimate social media swipe file”. It’s a cheat sheet designed to help your website get more views from social media. This lead magnet is very targeted toward those trying to get more website views from social media. It’s specific and states exactly what problem the cheat sheet will solve.
Used properly, lead magnets effectively help you earn more sales through your website. It’s a way to attract your ideal customer and turn that prospect into a loyal fan. Lead magnets take your marketing automation to the next level. Many companies have used them well and seen results. They are a great investment in your business.
If you want to know more about email marketing check out my Electrified Email Marketing Ebook.