Perhaps you’ve heard this term, “Lead Magnet” and wondered what it is. Maybe you’ve heard them called freebies, giveaways, value offers or a slew of other terms. The bottom-line is they are a crucial part of your marketing mix and without them, it is hard to measure your success and many times, it’s hard to get to your goals without them.
WHAT IS A LEAD MAGNET?
A Lead Magnet (I’m going to use this term but you can call them whatever you’d like) is simply a piece of content or an item of value that people would exchange their contact information for. Perhaps you would exchange your email address for a free ebook. You might sign up on a website with your email address to get 20% off an order. You enter your email address to gain access to a free webinar or online course. All of these are lead magnets. What’s NOT a lead magnet is a piece of content that just talks about YOU or your brand. Lead magnets are not promotional content. They are not a piece of sales copy. They are helpful and/or valuable content to the prospective customer.
Even if you think the item is super valuable because it tells your prospects about the services you offer…that is NOT a lead magnet. That is a promotional piece of content.
WHY SHOULD I GIVE MY VALUABLE CONTENT AWAY FOR FREE?
This is often the response of people when I say we need to take their template, their eBook, their white paper or tip sheet and give it away for free. Do you remember the days when you paid to create brochures and flyers and then you bundled them up and went to the post office and paid them to mail these? Well what did that cost you? You are going to pay for your marketing one way or the other. Why not use a method that is working for today’s consumers?
And if you are going to tell me the printed brochures do work for you, then you can get a pass on this post and get your gold star. Keep doing what’s working. But for those who need to find a way to reach today’s savvy consumer who is searching Google for answers, this is for you. Keep reading.
WHY ARE LEAD MAGNETS IMPORTANT IN MARKETING?
In marketing, we have goals such as brand awareness, building trust, increasing brand engagement, and establishing credibility, but these are harder to measure. We also have more tangible goals like building an email list, increasing website traffic, driving traffic to sales pages and helping to convert to sales. These actions are usually done with the use of lead magnets. These actions are easier to measure because there is an action people take when they download or sign up for something.
(Be sure to read last week’s post that helps you see how this all fits together to reach your strategic goals: “3 Step Formula to Ensure Your Social Media Activity Will Help You Reach Your Goal” )
Lead magnets are important because they form a bridge from EXPOSURE or AWARENESS, to TRUST and LIKABILITY. They give people a stepping stone to stand on and decide if they want more of you before you expect them to open their wallets. And the higher your price tag is the more steps you may need. You may need a free tip sheet that then gets their email and then in a series of emails you send helpful content that has a link at the bottom to download your research paper or eBook. Then you might have to invite them to a free webinar to then talk about the coaching program or consulting practice you have.
They also help start to qualify a lead and gain a small commitment from them, moving them toward a sale. If I create a piece of content that is for leaders managing teams of people in candy factories, I might just know something about the person who downloads this item.
EXAMPLES OF LEAD MAGNETS
Here is an example of some lead magnets. I’m sure there are many more we could think of, but this will get you started:
- Tip Sheet—Top 10 tips for ____.
- Resource Guide—Step-by-step guide to ______.
- Must have apps/tools for your life/business.
- e-Booklet (keep it short)
- Research findings
- Sample questions to help someone __________.
- Printable guides/cheatsheets
- Series of video tips
- Single short video course
- Discount code to use on purchase
- Free item (perhaps customer pays shipping only)
- Case studies
- Your best resources (equipment, suppliers, etc)
- Short e-Course
- Monthly HOT TIPS (aka not-so-boring-newsletter)
TIPS FOR CREATING GREAT LEAD MAGNETS
There are a few things to keep in mind as you create a lead magnet. One, you should keep them short and “digestible.” If you give me your 78 page eBook, I will probably save it for later reading…to be read right after those 900 wordy emails and 42 e-zines I have saved in that same folder. Keep the content valuable and short. You want people to download the item and use it right away to see how awesome you are. They will come back faster for more if you keep things short and sweet.
Secondly, you want to be sure the lead magnet is indeed, valuable. Just because you think it’s the most awesome piece of content you have ever seen, it doesn’t mean that people will find it valuable enough to turn over their precious email address for it. It’s like when I see, “Sign up for my newsletter.” You know someone thought that was going to draw people like goats to tin cans, but let’s get honest with one-another, who REALLY wants another email coming in? No one. But if you had something like, “Get our monthly tips and resources,” that might be more of a draw. I’ll never forget when a client told me that he subscribed to many newsletters from professional speakers and was shocked at how useless and self-promotional almost all of them were. Make sure your offer or lead magnet is really providing value.
Lastly, always but your next move or call-to-action at the bottom of your lead magnet. If I download your resource guide and love it, I find it so helpful, I will probably be in the mindset to consume some more! Have a link at the bottom or at the end that takes me to that next step.
TOOLS TO USE TO CREATE LEAD MAGNETS
Lead magnets are not created out of some special magnetic app that you must use. You can use Microsoft Word or PowerPoint to create your item and then save it as a pdf (most lead magnets are saved as pdf for easy delivery and to preserve your formatting). You can have someone work their magic on the document to make it a visual wonder in Adobe Illustrator, or even have a professionally produced video piece to use…but you don’t have to.
Keep it simple but make it look professional and VALUABLE! A bunch of text thrown on an image that looks like a poster in the breakroom of the post office is not going to cut it. If you do not have an eye for design, either pay someone to lay out a template for you or use one of these tools:
Beacon is a template tool for creating guides, tip sheets and more. The monthly cost is steep ($30) but it might be worth it for a few months to build your inventory.
Canva is another tool that you could use to layout a great template and then plug your content into it.
Zoom Webinars is a great platform to host your webinars.
WHERE TO USE A LEAD MAGNET ONCE YOU HAVE CREATED THEM
Now that you’ve created a few lead magnets and have started beefing up your inventory, plan on creating one or two a month, if possible. You want enough of a variety that you don’t have to offer the same item everywhere. Here are some of the spots you can use your lead magnet to draw people in:
- End of blog posts
- Social media posts
- The end of a live or pre-recorded video
- In your newsletters
- In your email signature
- In your LinkedIn connection messages
Now it’s time…time for you to create your first lead magnet or another lead magnet if you have one that might need revamping. As you work on that, we’ll get next week’s post lined up to show you the next step in your marketing plan.
I’d love to hear from you in the comments below with questions you have or other ways you have used or seen lead magnets used.