When considering all the strategies out there to implement to market your business and build your email list, in terms of efficacy, offering a strong lead magnet tops the list.
What is a Lead Magnet?
By definition, a lead magnet is an incentive or something of value offered to potential customers, often website visitors, in exchange for their contact info, .ie, name and email address.
The goal of a lead magnet is simple: attract visitors (hence, the word “magnet”) with something so awesome they are willing to give up their coveted email address to get it. In turn, you are building an email list of leads. More leads = more business.
The secret sauce to an effective lead magnet is to be absolutely irresistible.
A lead magnet can literally be anything of value to people but it helps to be strategic about what makes the most sense for your business and how to reach your target customer, so you can eventually turn them into a sale. But it’s not just about getting leads, its about getting quality leads. Let’s explore several examples to get you brainstorming.
Discount Code or Coupon
Probably the most popular and effective modes of attracting leads is offering a discount on whatever it is you’re selling. Most often, you see this form of lead magnet used on retail shopping sites. Since the customer is already on a shopping page, they are already engaged and primed to spend money. A discount will only sweeten the deal.
- A small percentage off a purchase of a retail product like clothing or beauty products
- If you’re in the Heath industry, a flat dollar amount off a training session or diet coaching
- A landscaping company may offer a free shrub or one free lawn cutting service (subtle strings attached increases likelihood of spending money with you in the future)
Free shipping or delivery
Again, just like a discount, if you already have an interested buyer, incentivizing that spend by offering free shipping is like free money for a customer and they are more likely to buy from you rather than the competition.
You might not think of the newsletter itself as the item of value since the goal is to get people signed up for your list. But exclusivity is attractive to fans of a brand. Lace your newsletter with Insider Info or VIP exclusives and it might be enough to entice brand loyalists on its own.
A sure way to hook leads is to give them a free trial period to experience a program, software, or app. Once you give a potential customer a taste of what you have to offer, it not only encourages them to stay on as a paying customer but you’ve also captured their info and you can continue to market to them.
- A trial can be a period or duration that has an end date, like 7 days or 1 month, but can also be as short as 1 day or 1 hour depending on what type of product or service you’re selling.
- A trial can also mean a taste, sample, or sneak peak.
Worksheet, Workbook, or eBook
Educating people not only further establishes you as the expert in your field but practical information that relates to the product or services leaves a bread crumb for customers that leads right to you. Be strategic about what proprietary information you’re giving away here, the key is to give just enough to be valuable but leaving the potential customer wanting more. An example of this is to provide an outline or roadmap as your free giveaway, but the full goods are behind a pay wall.
- Photographers might offer a What to Wear to a Photo Session Guide or Mini Posing Guide
- For Parents, perhaps a Kids Summer Activities Guide might do the trick
- For Health & Diet related businesses, a great offer may be Mini Recipe Book or Calorie-counted Meal Plan
Trainings, masterclasses, workshops, and webinars have become super popular tools for attracting leads using the power of video. Because videos have potential to go viral, it’s an effective way to get your message out there without much effort. Like a worksheet or workbook, this is a great method to teach and inform your audience but most importantly, you’re building trust as potential customers are connecting with you on a deeper level. If you want to take it one step further, a mini course would offer a series of lessons delivered through a training module. Combining the logic behind a Free Trial AND a Tutorial, perhaps you give away one free lesson as a lead magnet and the rest of the lessons are behind a gated website or platform.
- 7 Day Email Course for Better Fitness could entice target customers in the Health industry
- Beauty businesses might offer a Mini Make-up Video Training Series
- DIY’s are always a win for Home Owners
Challenges have become very popular in the online health community because they provide step-by-step instructions given in the form of a checklist or list of prompts for people to follow each day. The ultimate goal is to generate leads, this is an effective way to gain insight into who is genuinely interested in the type of product or service you’re selling because by signing up for a challenge, you know it fits their personal lifestyle choices.
Checklist, Cheat Sheet, or Round-up
Similar to a Worksheet/Workbook, you’re establishing trust by offering your knowledge and expertise, but in a small, digestible, tidbit. Because this useful information is condensed into one, actionable list – it’s easily consumed. Tips, tools, resources, items, ideas, activities, prompts, quotes, or questions are all powerful ways to engage leads.
- Journaling prompt cheatsheet for a target market in Personal Development
- Airport Checklist or Travel Budget Spreadsheet for Travelers
- Decluttering or Spring Cleaning Checklist for Homeowners
Template, Swipe File or Design Assets
Because one of the key ingredients to effective marketing is solving a problem for your target customer, offering a tool or resource to help them with something they’re struggling with (ie. Budgeting, Parenting, Productivity), provides leads with a quick win. People clamor for “all done for you” resources they can simply plug into their life with ease. Common examples are graphics, printables, and spreadsheets.
- For businesses in Finance related fields could offer a Debt or Spending Tracker Printable
- Pregnancy Planner Printable or Nursery Art Printable for New Parents
- Health Kickstart Planner
Remember when we mentioned in Number 3 that exclusivity is enticing to buyers? Access to an exclusive club, community, or event builds immediate appeal for fans of your brand and you’ll be able to closely monitor the activity within the group to gain insight with their behavior. Plus, it provides a network of captive and engaged users who want to hear from you.
- Social media communities or forums like private Facebook groups
- Credentials to access an exclusive library of assets or files