Your business is now ready to sell: your website is running, you have visitors on the page, and you’re set up to serve your customers. But where are they? According to Forbes, around 2% of visitors turn into buyers on average. You are considered lucky if you have more than 10% of your digital visitors purchase something from your site.
So how can you turn these frequent sightseers into customers? Or - better still - into regular buyers? A lead magnet is a key factor in helping you gain your visitors’ trust, build relationships, and get a closed sale. In this article, we will look at how you can use lead magnets to grow your business.
A lead magnet is a marketing tool. It offers something to your potential customer in exchange for their contact details, such as name and email address. Lead magnets attract customers and build trust. By offering “something for nothing”, customers are linked into your company or product with a new connection that is deeper than web browsing.
Contact information can be used to form a qualified leads list. You can identify customers who are interested in a specific offer. Or you can target your marketing based on the information they have provided.
A lead magnet is not a software or app. It is not a new technique used by marketers. It has already been around for a long time but some businesses are still finding it hard to use it effectively.
A lead magnet is important because it creates a connection between your company and the potential customer. Here are four key functions of a lead magnet.
Having a lead magnet is an opportunity for you to get to know your customer base. It is also a perfect way for your prospects to get to know you and what you offer. Creating brand awareness keeps them interested and connected.
As a business owner, you are most likely to focus more on how to convert your leads. While the skill needed to make a hard sell is important, you also have to communicate that you care about your customers. Offering solutions to relevant issues makes them feel more valued than a hard sell. This perception will play a big role in lead nurturing and establishing who you are as a business.
Potential customers also ask themselves: What can I get from this business that I cannot get anywhere else? That is where earning their trust comes in. Building relationships face to face is already hard, and with the digital era it becomes more challenging. Like most relationships, the question is how to offer what keeps them excited and how to maintain their interest.
Making them aware, offering your help, and building rapport does not pay the bills. The purpose of having a lead magnet is simple: know who your qualified leads are and turn them into sales. Once they provide their contact information, you are already leading them to make their first purchase. With the right marketing campaign focused on these leads, you are on the right path to increase sales. This information can also be used by appointment setting services to give more options to close deals.
Not all lead magnets are created equal - and how you design your lead magnet will determine its success.
Customers always want to feel important … and they are always right. There’s no better way to say it than to let them think you know them personally. Make sure your marketing strategies relate to their needs. As many as 91% of consumers are more likely to buy when they are offered something that is relevant to them.
You may think that to close more sales, you have to source a long list of leads. But this won’t “lead” anywhere! Creating specific profiles from your lead list is critical so you know how to target them effectively. It also increases the chance of convincing them to take what you have to offer.
Nobody wants broken promises. Nobody wants to be lied to either. So when a customer decides to give you information, they expect the lead magnet promise to be true. It does not need to be fancy and all-out. Consider producing a lead magnet that would offer the most value to them.
Quick solutions are also often promised to potential customers. This helps them move to the next step of the sales process faster. This in turn provides you with results to assess and analyze.
Are you good at making conversations and talking to people? Upload a video or do a webinar. Are you more of a writer? Offer a quick guide or a how-to. Are you more of a visual person? Capture a photo or design your own email templates. When creating a lead magnet, use your strengths and stick to what you are comfortable doing, so you can focus on more significant things: converting leads.
The type of lead magnets you choose will vary according to the type of business you are in. For example, you can offer detailed product information or case studies; free samples, templates, or check-lists; discount codes or free trials; or a newsletter.
Here are some examples of lead magnets used by the biggest players in the industry - and what we can learn from them.
● The headline expresses a clear value proposition
● Personalized for the target audience: businesses
● Provides a call to action with a promise of a quick solution
● Case studies are used to help customers decide what to purchase from all given choices
● Details matter - be specific on which features might help the reader
● Make the headline as catchy and as complete as possible
● Free training videos aim to convert leads who are already aware of the business
● It gives them an idea of the numerous products and services on offer
● Exclusive access promises better value to prospective clients
Using lead magnets is not difficult, but it is often a process of trial and error to find the most effective one for your business. Don’t be afraid to trial different approaches, then evaluate and improve. The more work you put in, the better the outcome. You will find that creating a successful lead magnet will have a real impact on growing your business.