What is Lead Magnet and why do you need it?

What is a Lead Magnet?

A Lead Magnet is an irresistible piece of content that offers specific value to your ideal customer in exchange for their contact information.

The objective of a Lead Magnet is very simple: Generate qualified leads for your sales funnel.

What does the effectiveness of a Lead Magnet depend on?

We know you wouldn't give your email or phone number to just anyone, would you? Or maybe you have an account just to be sent promotions (junk).

You should give your customers a good reason to share their contact information with you, the good stuff, not the junk ?

Simply inviting people to subscribe to your newsletter does not generate the same results as before. You need to provide value in order to receive something of value.

When you want to attract a guy to a girl you like, you don't go and propose to her on the first date. At the very least, you ask for her phone number and for her to give it to you without knowing you, that first impression will determine whether or not she is interested in giving you her number.

The same rule applies to your customers. Your Lead Magnet is like the first impression with a potential customer.

It is the first time a customer will see your level of expertise, your style, your knowledge reflected in that piece of valuable information you can offer them.

The most important element of a successful Lead Magnet: Be specific.

Specific doesn't mean it has to be complex. Your Lead Magnets should not be long, and they should not be complicated to create. In fact, a long and complex lead magnet usually converts very little.

You simply need to solve a specific problem with a specific solution for a specific segment of your market.

For your Lead Magnet to generate a positive impact, it must be consumable for your prospect.

The perfect lead magnet offers high value within the first 5-10 minutes of registration.

For a Lead Magnet to work properly, it must:

·    Be relevant and aligned with your business objectives.

·    Cover a super-specific topic.

·    Offer high value.

·    Be easy to consume.

We don't recommend you to ask for a lot of information, remember... it's your first impression. Usually just asking for the email and name is enough.

Lead Magnet Ideas

All good Marketing starts with identifying your Ideal Customer. Who is your Customer? What do they need or want? What is the problem they need to solve? ... How does your product or service help them solve the problem?

To start selling, you need to know who you are selling to, otherwise you can't be that specific.

It is advisable to dedicate some time to generate your Buyer Persona in detail, the ultimate goal is to attract customers who want to buy your product or service. Good previous research of the interests and common issues that this segment is looking to solve.

You can create more than one Lead Magnet for different problems, different products or different people.

Lead Magnet Types:

Guides, Instructions or Reports.

These types of Lead Magnets are the most popular, and most used. They are the easiest and quickest for your prospects and customers to consume. It doesn't take up much of their time and the content (the guide, tutorial or report) they can simply apply at home. (In most cases)

Educational or training videos.

Videos where you can show the prospect or customer how your service or product can help them and solve their problems. This type of Lead Magnet is also known as webinars.

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Free toolkits or resources.

The list of tools or resources can be a good Lead Magnet for the right business and markets - it can be in the form of templates, glossary or starter kit to things your prospects need to know. This will help the prospect or customer understand more about your product or service, so they can get to know it much better and know what they are buying.

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Software Download / Free Trials

It is very common for software companies like Spotify to offer a free trial period as a Lead Magnet. Have you ever wondered why Amazon Prime, Netflix and similar services offer you 14 or 30 days of free Premium? Now you know.

Shopify knows how to do this very well.

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Catalogs / Sales material

In some cases, the information most desired by prospective customers is a product catalog or price list of products or services, what better than to give it in exchange for contact information. This is so that the customer or prospect in a very simple way know what you offer without investing a lot of time. Since you can do it in most cases whenever you want.

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Surveys / Tests

An online survey or questionnaire can be an interactive way to generate new leads. How does it work? To see the results of the survey or questionnaire, prospects must leave their contact information. The results are delivered to that same email address.

Of course, to start taking this test, you must leave your contact details first.

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Discounts and Free Shipping

For those who sell physical products online and offline. Discounts or free shipping offers can be a very effective Lead Magnet.

Think about it, if you were told that, when you make your purchase, you get your product the next day and without shipping costs, surely the chances of buying increase considerably.

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The more value you offer your prospects, the more they will trust you. They will give you their email (the good one) and trust in the relationship will be generated. The chances of them converting from prospects to customers will increase and will increase more and more.

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Where can you place your Lead Magnet?

As you could see in the examples above, your Lead Magnet can be:

- Links (text)

- Small form.

- CTA Image (Call-To-Action)

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There are many places where you can place the Lead Magnet, here are some examples:

In publications: Many online stores and software companies do a lot of this type of images with a CTA that takes you to a Landing Page.

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Widget/Sidebar/Horizontal Bar: Many tools allow us to place a small form in the sidebar of our website.

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Pop-up: If you use a CMS like WordPress or Shopify, there are many tools that allow you to integrate a pop-up with a CTA to the Lead Magnet.

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With the right Lead Magnet and a well configured sales funnel. Your business will become Qualified Leads generating machine.

I hope this post has helped you a lot, and now you are clear about the concept of a Lead Magnet, have you already thought about how you can integrate them into your marketing strategy?