Every company seeks for new leads to boost their sales. That’s why they hire a marketer to generate new leads. But the question is how the lead is generated?
One of the most common answers you will find on the internet is “Lead Magnet”.
Lead Magnet is an essential part of the marketing world that helps in generating leads. It is considered to be the best way of increasing an email list. The term lead magnet may sound new to you but it is familiar and most of you might have downloaded it at some point.
If you are not aware of how to market a lead magnet through emails and why emails are the best platform of inbound marketing then check our blog on What Is Email Marketing? And How It Can Benefit Your Business?
So, In this article, we will be drawing your attention to something important for every business. We will be discussing what is a lead magnet and how different types of lead magnet can boost your sales.
What is a lead magnet?
A Lead Magnet is something informative that companies provide to their potential buyers in exchange for their details like name, number, email address, etc. You might have come across these incentives on different websites. It can be in the form of an ebook, a cheat sheet, free trials or samples, coupons and many more.
In inbound marketing, lead magnet plays a vital role in generating new leads. A marketer uses various inbound channels like email marketing, content marketing, and PPC to advertise lead magnet and get lead details.
While surfing the internet, you might have come across these types of lead magnets in your day to day life. Generally, website owners display these types of lead magnets in their home page pop up message or on the right/left empty side of their blog.
Why lead magnet is important for every business?
Businesses are already using different types of lead magnets to get their visitor personal details like email id and phone number. If you are looking to make your website online presence strong and effective that can generate good revenue and acquire maximum customer online. Then start creating and promoting attractive lead magnets that can benefit your visitors.
Email and mobile numbers are personal things that users can not share with anyone. Even if you ask your customers to reveal their details they will hesitate to do it because no one likes to share their details for free. That’s why marketers use lead magnet to provide an incentive to users in exchange for their email addresses or mobile numbers.
Let me give you two cases to make your concept clear on why lead magnet is important in today’s marketing world:
You have a blog on how to boost your companies sales and at the end of the blog post, you place a signup form asking visitors to fill that form and join their email list to get more updates.
Your competitor has an ebook PDF on the same topic “10 ways you can boost your business”. And they are asking their visitors to fill the signup form and join their email list to get that ebook.
Who is going to have more sign up Case 1 or case 2?
Case 2 is going to have a maximum sign up because they are offering an ebook in exchange for the user’s email id.
What are the different Examples of lead magnet?
Now you might be aware of what is the lead magnet and why businesses should use a lead magnet to grab the user’s attention. Moving ahead we are going to highlight the different types of lead magnet
1. An Ebook (mini-ebook preferred)/ whitepaper
Ebooks and Whitepapers are considered to be the oldest form of lead magnet where companies use to market it in exchange for user info. In B2B and B2C market it plays an important role in growing the company’s email lists. It is mostly used by service providers like web design company, Digital marketing agency, and cloud computing agency.
while surfing the internet, you could have come across these ebooks and whitepapers at some point. There are a lot of companies that are using ebooks and white papers as a form of lead magnet.
Nowadays companies are relying more on infographics, videos and cheat sheets than ebooks and white paper Because books are lengthy and require a hefty amount of time.
So, if you have and agency and planning to create an ebook then try to create a mini-ebook pdf that can provide more information in a lesser amount of time.
2. Toolkit/Resource List
Toolkit and resource lists are also very much helpful in getting the user details. Everyone wants to know about the resource and tools that are helping a company in generating good revenue. So, you can make and list and use it as a lead magnet. Indirectly you are providing reference material in exchange for user details.
Another advantage of using a toolkit and resource list is that you can generate extra revenue by becoming the affiliate for those products. This way you are helping your user in identifying the best tools for them and you are also generating revenue from it.
Coupons are one of the best ways to get user details and it is considered to be one of the most effective ways of lead magnet. If you are giving a certain amount of discount in exchange for the user’s email id or phone number then they will not hesitate in giving their information.
For example, If you own an e-commerce platform then you can advertise a coupon asking the user to sign-up and in return, you are going to give them a 20% discount on an $80 T-shirt. Generally, after seeing discount users can quickly identify that they are going to get the t-shirt for $16. And they will not hesitate in giving their details.
There are so many coupons giving sites that use a coupon as a lead magnet. By looking at the example you can figure out how coupons giving sites like Retailmenot, Groupon use coupons to get user details.
4. The Ultimate Guide/Report
Guide and reports are almost similar to the ebooks. It is considered to be more effective than ebooks because through a guide you can educate your audience about your product.
There are a lot of companies that use guides to educate their audience about their brand and product and it plays an important role in the sales funnel. Even if you look at the example you can demystify that company use guide build their authority and showcase that they have got a good knowledge about it.
For example, if you have a digital marketing agency then you can create the ultimate guide on PPC, SEO, SMM. it will help you in showcasing that you have got a good knowledge of it. And it will also make people remember your company name for a long time because by creating the ultimate guide of digital marketing your are them what it is and how it works.
In the finance sector and online marketing sector spreadsheet plays an important role as a lead magnet. Many companies look for different companies spreadsheet to get in-depth knowledge of their working. And from that, they try to optimize their work.
As you can see in the example, they are providing budgeting spreadsheets in exchange for users has to share it on their social media platform. Now you might be wondering why people will do that? Generally, Users don’t hesitate in performing some action and giving their details in exchange for something precious they are getting back.
Therefore by looking at your niche problem, you can use your companies previous year spreadsheet and advertise it by asking users to signup for your newsletter. This type of practice will help you in showcasing your work and building your company’s authenticity in the market.
6. Free Consultation
A free consultation is a very common but effective type of lead magnet. There are many companies and law firms that offer free consultation to attract user attention. Even in the healthcare industry free consultation is very much popular in getting users details.
The main advantage of using free consultation as a lead magnet is that people don’t think too much before providing their details. They understand the reason why you are asking for their details. Even if you like to get their phone number to contact them through the phone then you can place the phone number column in your form. And the amazing thing is that the user likes to share their phone number for a free consultation.
As you can see in the picture, SFWP Experts a leading marketing agency is providing free consultation for SEO by asking users details like email address, phone number, name, and website URL. So, if you own a web design agency, marketing agency or any service providing agency then don’t forget to use free consultation as a lead magnet.
Calendar can also play an important role as a lead magnet for your business. Every company prepares its marketing calendar at the beginning of the year. So you can show your authenticity by providing templates and tips for their yearly calendar.
One of the major problems faced by companies is that they don’t know how to plan a calendar and market their product. So, if you provide them a solution by giving examples and tips on how to plan their yearly calendar.
These types of lead magnets are visible at the beginning of the year or in the middle of the year to make a yearly or half-yearly plan. By providing a calendar as a lead magnet you can grab a lot of people’s attention and get their details.
For example, if you own a fitness center then you can create a diet chart and ask users to download your diet chart in exchange for their details. You can also use it in a marketing agency by providing tips on when and how to do create a content calendar for the upcoming year by providing your previous year’s content calendar.
Infographics are always helpful in driving traffic to social media pages and websites. It can provide key information about your work and product performance. Companies and YouTube influencers are using an infographic to show their work performance and gain people’s trust.
By sharing informative infographics you can build followers and audience trust on social media platforms. Later, you can ask people to give their details in the comment section or you can provide your website link that can redirect your user to a landing page.
Some companies try to excite their audience and create anticipation for their upcoming product by using infographics. There are many more creative ways to use infographics as a lead magnet for your business.
One of the main advantages of infographics is that it allows you to be specific. You don’t have to use boring text to convey your thoughts, you can create an infographic that can educate your audience about your product.
9. Video Training/Webinar
Video training and webinars are considered to be the most popular form of lead magnet. Videos are considered to be highly engaging that’s why people give good responses to these types of lead magnet and don’t hang back in giving their details.
Video content has got a lot of benefits like it can engage your user, takes less time to showcase your purpose and user also doesn’t find video content to be time-consuming. Another benefit of videos content is that it contains both audio and video.
There are a lot of companies and educational institutions that are creating short tutorial videos and asking the user to get that video by providing their details. Even you can find webinar registration forms on the internet.
If you are looking to create a video then do some market research, identify your niche problem and then create a tutorial video. If you find yourself comfortable with the camera then you can conduct a webinar on the same topic and ask the user to fill the details like their email id, name.
Checklists are a short list of points that help in finalizing and achieving a particular goal. It is a very common type of lead magnet you will come across while surfing the internet. These types of checklists are provided by service provider companies.
For example: if you own a marketing agency then you can prepare a checklist for email marketing, PPC or SEO. Use an enticing title that can persuade the user to download your checklist. From the image, you can figure out how they are advertising their on-page SEO checklist to get user details. Generally, people look for these types of checklist to optimize their performance.
Cheat Sheets are considered to be the most effective way of lead generation. By using the cheat sheet you provide information to the user about why they should use your product and how it helps them in resolving their problem. A cheat sheet is also the best way to get user details. It is similar to the checklist, only the difference is that through the cheat sheet you can provide guidelines and processes to solve and achieve specific goals.
12. Quiz/ Survey
Nowadays marketers are finding quizzes and surveys to attract more users. And some reports say quiz and surveys are evolving as the best way to increase email list. A quiz is considered as the most entertaining lead magnet compared to other types of lead magnet. LeadQuizzes states that the average quiz has a 31.6% lead capture rate.
By taking the survey from your site visitor you can collect their data. For example, you can ask your site visitors to give feedback about their experience on your site appearance or your site blog. You can create a feedback form and place an email option at the last. After filling your feedback form they may show interest in providing his/her email id then submit that form.
Tutorials are also considered as the most effective way of lead generation. Companies create video tutorials and sometimes PDF tutorials to educate their audience about their services. If you look at the image you can figure out how companies create tutorial videos to educate their audience.
By using this type of lead magnet you can showcase your knowledge and authenticity. For example, if you own an SEO agency then you can create a tutorial on how SEO can help your website in maintaining its top rank.
Lead Magnets are one of the most effective ways of generating quality leads. If you are looking to generate leads through lead magnet then be clear about your thoughts. Select the format of your lead magnet i.e. text, video, and audio. Then you can choose the type of lead magnet that is going to benefit your business. Users are facing a lot of issues in optimizing their work. So, you can research and identify your niche problem and provide a solution for it. By doing this you can boost your sales and make your business lucrative.
If you are looking to generate more leads then you can contact SFWP Experts, California’s leading marketing agency that has helped more than 500+ businesses in boosting their sales and reaching their potential customers.