Attracting customers online isn’t as easy as it used to be. Even if you have a well-designed website, extensively researched content, and amazing promotions, you won’t always get as many followers as you hope for. That’s where the power of a lead magnet comes in.
What is a Lead Magnet?
A lead magnet is marketing tool that offers people an incentive in exchange for their contact details — usually an email address. Most often, it comes as downloadable content like a checklist, cheat sheet, e-book, reports, templates, videos, webinars, or a workbook. Essentially, a lead magnet helps grow your email list and maximizes the number of high-quality leads you’re getting from an offer.
This last point is important because you don’t want just any leads. You want qualified leads — people that are part of your target audience. Lead magnets are great for drawing these people in.
Why is it Important?
A lead magnet allows you to acquire the contact information of your prospective customers. And we’re talking about the kind of information that’s very valuable and personal — something they won’t simply give away unless they get something they really want in return.
But if you have an effective lead magnet that grabs people’s attention and delivers value, you’re able to pique their interests and start a relationship with potential buyers.
Once you have this information, these people become your email subscribers. This means that you can continue to nurture these relationships and turn them into paying customers. We’ve talked about email marketing before. It’s got an insane ROI — higher than any other type of marketing. And that’s why it’s so important to build your email list. This is an important pillar of your overall digital marketing and social media strategy.
One of the easiest and most effective ways to do this is with a lead magnet.
Let’s talk more about how exactly to go about executing this. What requirements does a powerful lead magnet need to meet?
What Makes an Effective Lead Magnet?
If you’re looking to grow your email list with qualified subscribers and get more relevant opt-ins, here are five things you need to know to build an effective lead magnet.
1. It Gets the Readers a Quick Win
People love instant gratification. That’s why your lead magnet should promise (and of course, deliver) results fast enough that readers get really eager about and interested in it. In short, it should help them achieve something easily and quickly.
For instance, people aren’t going to care if you can teach them how to grow their Instagram following in a year.
It seems promising, but one year sounds too long and far-fetched. It takes people too long to see the results that they want, even if the information you provide is stellar. They’re not going to get excited about something happening a year from now, regardless.
However, if you teach them how to grow it in a week, now that’s something they’ll be excited about. Reaching this goal in just a week is something that they can see, feel, almost taste. Instant gratification is a must. This is why people get hooked to social media and the internet in the first place. And your lead magnet needs to operate under the same belief.
“But the faster I help them, the sooner you’ll leave me,” you’re thinking. That’s understandable, but rest assured that this isn’t how it works. If your lead magnet is successful and you help people solve a problem quickly, they’re going to want even more from you. This is how you build loyalty.
If your lead magnet can provide that quick win, you’ll be able to convert your visitors into subscribers and grow your email list significantly.
2. It Solves a Problem Your Target Audience is Having
Using a customer avatar, you can identify your target audience’s specific needs, issues, and problems. If you haven’t done this yet, do so immediately!
Then, you can use your avatar to great a lead magnet. Your lead magnet should be able to hit those specific pain points and offer solutions. And the more precise you are about who it’s for and what it can address, the more it will convert to leads. You need to really know and understand your audience in order for all of this to work.
Here’s a great example from Neutrogena. Their messaging effectively addresses a major pain point for those experiencing skin problems and provides a personalized solution for their customers. They literally use the word in large, red writing: solve.
Neutrogena knows that skin problems can be an incredibly emotional and upsetting thing for people. They’re addressing that head-on and offering a solution.
Here’s another one. The Debt Helper offers a useful solution for people struggling to budget and keep track of their expenses. Reduce your stress and sleep easier at night with the help of their lead magnet. Who wouldn’t want a free budget spreadsheet?!
Remember, your lead magnet should provide a specific solution to a specific problem of your target market. If it’s not relevant to what they need and want, they’re not going to pay attention to it. Hit on a pain point, something they’re struggling with and can’t figure out how to overcome.
That’s how you design an effective lead magnet. The best way to create an enticing offer is to offer a genuine solution to somebody’s troubles.
3. It Should Demonstrate Your Value and Expertise
People will be attracted to your lead magnet only if they see what’s in it for them. That’s why you have to give them compelling reasons to download your material and choose you over your competitors. They might not hand over their email address that easily.
An effective lead magnet clearly demonstrates your credibility, expertise, and unique value proposition. It needs to have high perceived and actual value. It shouldn’t be copied off of someone else. Rather, it must offer a fresh take on how people can address their concerns or a unique POV on common practices.
For instance, online marketer Rick Mulready offers a free e-course to uncover the mistakes people are making with Facebook ads. In effect, it shows that he knows something about Facebook ads and how they work. You also get the impression that not only does he know ads, but he knows more than other people. This is key.
Essentially, doing this establishes your position as an industry leader and helps turn prospective leads into paying customers. What are you the very best at? What do you excel at? Is there one thing in particular that you can demonstrate incredible experience with? Make your lead magnet about that.
4. It’s Accessible and Easy to Understand
People love it when things are at their fingertips. So, apart from offering quick wins, your lead magnet should be accessible in as few steps and clicks as possible. For example, they should be able to download it in just a click or two immediately after entering their email. Don’t make them wait too long to receive your content. Furthermore, don’t make them enter any information that you don’t absolutely need. Typically, the first name and email address will suffice.
Yes, you can ask for additional information like their last name and phone number. But it might very well not be in your best interest to do so. Don’t assume that people will go through that much trouble to get the lead magnet because they probably won’t.
Similarly, your lead magnet should scannable and easy to consume, where all the important information in one available in place, so people won’t get overwhelmed. This kind of goes back to what we were saying earlier about giving people a quick win. If your lead magnet takes too long or is too difficult to retrieve and consume, people aren’t going to stick around.
More importantly, it should offer solutions that readers can use more than once or refer back to anytime.
Remember, people care about how you can help them and make things easier for them, so that should be your priority.
5. It Should Encourage Further Engagement
You now have people’s email addresses, and they’re qualified leads. That’s great! But don’t stop there. Have a next step planned out already so that they continue interacting with you, even after they finish the lead magnet.
Once people are in your subscribers’ list, you can nurture them with a series of emails to keep them engaged. From welcome emails, follow-ups, and promo updates to links to other resources and invitations to join your online community, implementing email marketing with your leads will give you a chance to continue interacting with them.
The lead magnet is just the first step. This should take them through an entire email automation that will present them with information that they care about. Remember, these people need multiple touchpoints with you. It’s not this:
Lead magnet > Sale
Lead magnet > Email > Email > Email > Blogs > Social media posts > Sale
What we’re saying is that you have to date before you propose marriage. Spend time interacting with your leads, and then it’s safe to ask for the sale.
Bonus tip: Make sure you’re leading subscribers to high-quality, evergreen, and relevant content so they’ll stick around longer.
The Key Takeaway
Lead magnets are powerful in growing your email lists, potentially converting prospects into loyal customers, and adding value to your site. When creating your lead magnets, make sure that they’re:
- Providing a quick win.
- Solving a specific problem.
- Demonstrating your value and expertise.
- Accessible and easy to consume.
- Encouraging long-term engagement.
Keep in mind, too, that although lead magnets are great for building your email list, that doesn’t mean that you shouldn’t be promoting them elsewhere. Post your lead magnets to your social media channels. Link to them or embed the opt-in form in your blogs. Put your lead magnets front and center on your website, where visitors can always see them. If you’re into running online ads, try throwing a little money toward them (although this certainly isn’t mandatory). Give them as much exposure as possible.
Whether you’re trying to find new leads or simply focusing on engaging with your current subscribers, e-clincher is here to help you manage all of your social media marketing needs. Sign up today for your free trial and experience it for yourself!
Have you experimented with lead magnets? How did it go? Tell us more about your journey using the comments section below.