Generating traffic and leads has proven to be the biggest marketing challenge for 65% of businesses (Hubspot). What does this mean? Only a few brands know how to get a lead magnet that sees to the fast growth of your business.
Growing up, I have always believed in superpowers. Watching cartoons where the hero always ends up flooring the villains.
I felt relieved whenever I saw my ‘hero’ defeating his enemies, who by extension were my ‘enemies’.
Do you also believe in superpowers? Nevertheless, they are real.
This is where the superpower concept comes in. Having the ability to nurture quality leads. Leads to more sales is in kind having marketing superpowers.
You Need a Lead Magnet to Cultivate your Leads
What does this mean? Have you ever been promised a free token if you buy a certain product?
This is what entails a lead magnet. What a marketer will offer a potential prospect in exchange for their contact details, especially email addresses.
Lead magnets come in the form of content that you can freely download. They always give value.
A typical example of how lead magnets work:
a) Potential clients arrive on your website
b) The business presents them with the lead magnetic offer with valued info
c) Potential client accepts the lead magnetic offer
d) The Business communicates with leads
Case in point you go to a weight-loss company’s website. And on your first engagement, you are offered some tips to your mail in the form of an ebook, infographic, or case study in exchange for your contact info.
What Should A Good Lead Magnet Be Like?
Creating a lead magnet takes time. To strategize and come up with a value for your prospects. So, don’t rush it.
It should have the following features:
- Be easy to digest
- Have a specific purpose
- Be a solution to a real problem
Your lead magnet should be easy to digest by your potential prospects. In your industry, you’ve your jargon. And they are not known by all your prospects. So, whenever there’s a chance to appeal to their ambitions, tone down your technical and unnecessary details.
The aim is to have a higher chance of turning your prospects into leads, as they relate to what they know.
It should also maximize the number of targeted leads you are bound to get from it. The optimization of the lead can be done by problem-solving. That is, by using a solution for the market niche. Also, the number of leads increases with referrals from happy prospects.
You should remember that a long complex content takes a lot of your time. It also makes it hard to manage because it may not be specific enough for your prospects. By making your content-specific, then it’s gold.
Why Use A Lead Magnet
1. Increase your Conversion Rates
For you to have a higher conversion rate, a great lead is an essential arsenal as your marketing tool.
One important factor you should remember at all times is that 96% of people (Marketo), who visit your website, are not always ready to buy from you. However, if you offer them something of value with unique access to information that they find helpful, they offer you their contact details at will.
Have you ever given a stranger your contact details without them giving you a compelling reason to do so? This is what exactly happens here. Any contact information is too personal to give away.
Therefore, you have to give them an incentive before they do. Even if they like your product brand.
As long as you have a business, a lead magnet is a compulsory component. People access them in droves because they’ve value.
2. Build Trust with your Prospects
Lead magnets help you build trust with your clients. By providing reliable info to your prospects, you are bound to make them trust you.
So, master lead magnets and have the prospects believe you.
Why? The middle step is the one that not only involves building trust but also following up with potential customers until they are ready to make purchases.
Only 4% (Marketo) of your traffic usually buys immediately they visit your website. And averagely, only 30% of your visitors will return to your website. Pathetic results…aren’t they?
The work of lead magnets here is to fill this gap by offering people ‘bait’ to provide their contact details – building your treasured email marketing war chest, the email list. So that periodically you reach out to them with the latest offers.
Five Sure Steps to Follow When Creating a Lead Magnet
- Choose your buyer persona – Who is your offer targeting?
- Identify your value proposition – Provide a convincing reason for them to redeem your offer.
- Name your lead magnet. Because lead magnets are many and different, offer them to your buyers at various stages of their journey or marketing funnel.
- Choose the type of lead magnet that you will offer.
- Create your lead magnet – Be specific, unique, efficient and authoritative. Promote your lead magnet by using status updates, Ads, and groups on social media such as Facebook and LinkedIn.
The List of Lead Magnets to Use in your ‘Baiting’
Do you know the types of lead magnets that you know will produce results for your audience?
Because with relevance, you improve trust and your conversion rate.
With me, here are 5 types of lead magnets that will work best for you:
- Community-Building Lead magnets: Communities here are a place where consumers of a particular brand can interact with each other. Businesses create communities with the aim of having a dialogue between their brands and their prospects. Examples here are challenges, membership sites, Facebook groups, and slack groups.
- Educational lead magnets: Teaches your visitors what they do not know. Examples are gated content, tutorials, eBooks, guides, reports, infographics and education videos among others.
- Useful lead magnets: Provide a tool that helps prospects solve a problem.
- Entertaining lead magnets: For your audience entertainment. Specifically for entertainment.
- Bottom of funnel lead magnets: Tips your visitors from leads to real customers. Some examples of the bottom of funnel lead magnets are a free trial, coupons, case studies, waiting lists, early-bird discounts, free consultation, and free shipping.
The popularity of lead magnets among marketers is unrivaled.
Reason? They work. 79% of top-performing companies use marketing automation, that is if they have been using it for more than three years. (Pardot)
Make sure you grow your email list… the result is a healthy backdrop of leads. Look for ways of attracting prospects from your targeted audience: by offering instant gratification and asking something in return.
The work of lead magnets.