What is a lead magnet?
You’re a marketer, business owner or entrepreneur and you’ve decided to take to the web to employ some of your marketing efforts. You’ve done your research and the term “lead magnet” seems to be everywhere. You can’t seem to escape it no matter where you click. You’re doomed follow it.
If you’re reading this now, you’re eager to learn more about lead magnets and are more than likely seeking to understand how it can benefit your sales process. It is, after all, of GREAT benefit if done correctly.
So, what is a lead magnet and do you really need one? The short answer — a lead magnet is a marketing approach and if you don’t have one, get to working on one quick! It can be the difference maker or breaker in your business. But before you go off, let’s learn a little more about what it is first.
A lead magnet in its simplest form is often referred to as a giveaway. Depending on the reference, it’s also called a freebie, a bribe, and a few other terms of endearment. They are irresistible in nature and enticing by fault. In a sales funnel, a lead magnet is literally what places a customer at your doorstep. Need insight to the sales funnel process, I’ve written about it here: What is a sales funnel.
A lead magnet also demonstrates to your target audience why you can help them. It’s a demo of your niche, your ability, and, well, your authority in the subject of their curiosity. It’s set-up in “ad-form” and utilizes good copy to “sell” what you have to offer. The sell is usually at a varying degree of free. In exchange, a customer chooses to provide you with their email address for what you’re offering. This email address is your lead. And additionally, the customer pre qualified themselves without much effort on your part to do so. Win-Win! This is the first step in the sales funnel.
Can you see how lead magnets are helpful to your sales process?
EXAMPLES OF LEAD MAGNETS
There are diverse types of lead magnets utilized by the pros. Here are a few:
- E-Book/Book- Now, this may sound like a huge undertaking, but it is no doubt an effective tool to entice your customers to learn from you. Many people work with ghostwriters to help get this created for them. In that process, you are the author; ghostwriters help your vision come to fruition. Work with a professional and get some help putting your ideas to text.
- Checklists- Checklists are created to display a “how-to.” If you create one, share it! For FREE! Not only are you providing insight to someone who needs it, it gets you the lead!
- Samples- A sample is a lead generator too. How does getting free samples feel to you? If you have a small sample product that can be sent via mail, it might be of benefit to you in the long run.
- Webinars- A webinar will allow you to connect with multiple people at one time. There are many ways you can use a webinar to move people through a sales funnel. Try it out. There’s a first for everything. Webinars just might be the one thing that gets you the number of leads you seek.
A lead magnet is an important part of the sales funnel and is necessary for almost every business. As this is the first step in your process, you will need to offer a few different lead magnets for different types of customers. But, remember, having a lead magnet gets you one step closer to successful sales conversions.