What is a Lead Magnet and Why Should I Care?
When someone asks me, “Sue, what are the 3 things I can do today to improve my marketing?”, one of the first things I always tell them is — “Create a lead magnet and start collecting leads on your website.”
So… what IS a Lead Magnet — and why is it so important to growing your business?
Simply put — a Lead Magnet is a “gift” of value that you give in exchange for the contact information (email, phone, etc) of a visitor to your site. Typically Lead Magnets come in the form of information that’s valuable to the visitor, but also in line with the offerings of your business.
One of the reasons Lead Magnets are so powerful is that they’re the first step in creating a relationship with your prospects. Also, when you have a visitor’s contact information, you begin to “own” the conversation — without having to rely on Facebook or Google algorithms deciding whether or not your posts or ads are going to be seen.
Also, once you have a customers information, you no longer have to pay someone else (Google, Facebook, etc) to try to talk to them again. You can get in touch with them directly via email (or phone or even through snail mail if you collect mailing addresses).
However, I know that some of my clients have struggled with creating lead magnets for themselves. Sometimes they just don’t have the time — and other times it just seems so overwhelming they don’t even know where to start. But having a Lead Magnet is a great tool — and the best part is, once you have one (with perhaps some minor tweaking based on the response rates), you can use it over and over again.
If you’re struggling with creating a Lead Magnet for your business, here are some things to consider…
What Is A Lead Magnet?
- A Lead Magnet should align with your prospects’ pain points — and work to resolve them in some way
- A Lead Magnet is never only about your product — remember, this is not about “sell, sell, sell”, it’s about starting a relationship that will result in customer loyalty and higher Customer Lifetime Value (CLV)
- A Lead Magnet can be used to establish your authority on a particular topic
- A Lead Magnet can be engaging and fun — like a quiz
Lead Magnet Ideas
As I mentioned — some of my clients struggle with coming up with a Lead Magnet for their business. However, it doesn’t need to be an elaborate, 40-page white paper. In fact, some of the more successful Lead Magnets are short and to the point. Lists are a great example — think… “10 Things To Do In Albuquerque”.
Here are some ideas for YOUR Lead Magnet…
Some Specific Topics Might Include…
- Top 10 Hiking / Biking Trails — GREAT FOR: Hotels, B&Bs, Cycling Shops, Sports Equipment/Apparel Stores, Entertainment/Events Websites
- QUIZ: Are You Ready To Work From Home? — GREAT FOR: Network Marketing Companies, Affiliates, Recruiters, Job Posting Sites, Recruiters, HR Professionals, Mom/Parenting Sites
- QUIZ: Have You Saved Enough For Retirement? — GREAT FOR: Banks, Financial Services Consultants, Baby Boomer Blogs
- 3 Mistakes To Avoid When Canning Your Own Vegetables — GREAT FOR: Garden Centers, Survivalist Sites, Parenting Blogs
- 4 Powerful Exercises To Cut 3 Strokes Off Your Golf Game — GREAT FOR: Fitness Centers, Golf-specific Retailers, Golf Trainers, Baby Boomer Sites, Personal Trainers
- Top 10 Clothing Hacks For the Fashionista On The Go — GREAT FOR: Clothing Retailers, Entertainment/Event Sites
- A Guide To Wines of Tuscany — GREAT FOR: Liquor Stores, Restaurants, Wineries, Specialty Food Stores
- Top 5 Herbal Remedies For Women — GREAT FOR: Naturopath, Natural Pharmacy, Supplement Manufacturer, Women’s Health Blogs, Personal Trainers
Remember these 3 things when you’re creating your Lead Magnet.
#1 — Always Keep Your Buyer Personas top-of-mind — (Don’t remember what a Buyer Persona is? Click here). In order to get a stranger to your site to hand over their contact information, it needs to be valuable to them. Also, make sure that you’re creating something that “speaks to” your Persona. A 20-page eBook is probably not going to convert millennials as well as a video might.
#2 — Represent Your Brand — If you’re quirky, have some fun with your Lead Magnet. If you’re serious, then make sure your Lead Magnet reflects that. Keep in mind, serious doesn’t need to mean boring — you can have a compelling Lead Magnet in any business.
#3 — Don’t Just Talk About Yourself — An effective Lead Magnet “sells without selling”. It’s the first step in building a relationship with your prospects. So, for example, if you’re a Financial Advisor, simply having a Lead Magnet that explains “3 Things To Look For In A Down Market” is going to establish your authority and get your prospects thinking about you when they need financial advice.
Hopefully this has given you plenty of ideas to get started. If you’re still struggling, let me know — email me at firstname.lastname@example.org and let’s see how I can help.