What is a Lead Magnet?
Simply put, a lead magnet is an offer that a prospective customer values enough to exchange his/her contact information for. This transaction usually takes place in the form of providing an email address in exchange for a digital asset, such as a valuable PDF. Lead magnets are commonly targeted at cold audiences (people that don’t know who you are or what you do) and can be found at the top of your sales funnel (the start of the customer journey).
Lead magnets must provide value.
Your prospective customer will value something that is resourceful and educational in nature. Resouces that allows them to rely on your expertise while saving them time to research themselves can be of tremendous value. The primary objective of a lead magnet is to collect targeted contact information of your prospective customers to further build the relationship electronically.
Effective lead magnets help solve a specific problem that your ideal customer is experiencing.
Examples of Popular Lead Magnets
Here’s a list of digital assets that are used as lead magnets:
- How-to Guides
- White papers/Reports
- Cheat Sheets
- Resource Lists
- Video Training
- Discount codes/Free shipping (eCommerce)
- Quiz/Survey Results
- Assessment/Test Results
- Sales Material/Pricing
- Free Trial
- Free-ware (software)
From the list above you will notice that most of the lead magnets are in PDF format.
What Happens After the Opt-in?
Great question! This is where two things happen:
- Your prospective customer can benefit from your lead magnet and starts liking and trusting you, and;
- You start building a digital relationship with your prospect.
After the opt-in, the main objective is to “warm up” your prospective customer and to get him/her familiar with your company and its products and services.
Truth be told, email marketing still works!
The most common follow-up after a lead magnet is an email marketing drip campaigns. The reason email campaigns are popular is that they are automated and rule-based, which means once the prospect opt-in the follow-up is automated and customized to their interaction with your email workflow.
What Do I Need to Get Started with using Lead Magnets?
Before you get started with a basic lead magnet you need to have the following:
- A digital asset such a PDF, or any other type of lead magnet, and;
- An email marketing platform with workflow automation such as MailChimp or MailLite.
After you get these two things in place, you will also need a landing page to send visitors to and a series of follow-up emails. It also helps if you have some valuable blog topics to send your email audience to.
Have a Question About Lead Magnets?
Need help building your sales funnel or a lead magnet? Contact us for a complimentary assessment or request a free quote today. We can help make your entire sales funnel or help you get set up with your lead magnet. Contact us today.