A Lead Magnet is an irresistible bribe offering a specific chunk of value to a potential client in exchange for their contact information. Lead magnets are usually an offer of a free piece of downloadable content, such as a free PDF checklist, video, report or even something like access to you and your knowledge.
If you’re looking to grow your email list, your lead magnet must be something that is worthwhile. Email is a very personal thing, and people won’t simply give out their email address without a good incentive. As a business owner or marketer, it’s your job to give them a compelling reason to do so.
For example, let’s say you have a blog post on the ‘Top 10 ways you can improve X for your company’. At the end of the post, you ask readers to join your email list for “updates”. Or instead, you could ask readers to join your email list and get a free, downloadable PDF case study, detailing a real-life example of ‘one business who used these 10 strategies to improve their X.’
What Makes a Good Lead Magnet?
There are 7 things that your lead magnet should do if you want it to be irresistible:
- Solves a real problem – if your lead magnet doesn’t solve a real problem that your customer avatar has, or if it doesn’t give them something they really want, it won’t work at all.
- Promises one quick win – your lead magnet should promise (and deliver) one quick win for your avatar. In other words, it should help them to easily achieve something.
- Super specific – don’t create a lead magnet about something general. The more specific you are about the benefit of your lead magnet, the better it will convert leads.
- Quick to digest – PDF checklists tend to convert really well because they are so quick and easy to digest. eBooks or lengthy reports may make your prospects feel overwhelmed.
- High value – your lead magnet should have both high perceived value and high actual value.
- Instantly accessible – your lead magnet will work best if it is something that can be delivered right away. People love instant gratification.
- Demonstrates your expertise or UVP – when someone consumes your lead magnet, it should demonstrate your expertise or your unique value proposition. This helps turn leads into customers down the road.
So, below we have taken some of the above factors into consideration and compiled a list of 5 top lead magnets to grow your email list.
1. Data and case studies
Case studies offer great content since they are unique: only you or your company have the data to tell this story specific to what your customer is searching for.
You can also bring your customers into the picture and let them tell their story of how they solved a problem – ideally, a problem some of your target group also have. By doing this, it instantly adds value to the offer as potential customers will be eager to learn how the problem was solved.
People like to copy from others. It makes them feel like they’re getting things right, and life is a lot easier if we have a template that we can adapt for our purposes. Templates are great for when people are new to a topic and will perhaps be searching for examples or online how to’s for that specific topic. Therefore, they make a great lead magnet as they provide an outline of what something should look like in a quick and easy manner
3. Cheat Sheets
A cheat sheet generally provides a shortcut to solving a problem, which is where they got their name. Instead of researching and sorting through information for themselves, your subscribers get a step-by-step process to reach their goal (fast!).
Cheat sheets should promise a quick solution for a specified problem, and be clearly set out and easy to comprehend.
Instead of providing a ton of information, try providing a checklist of things people should not forget when trying to achieve something.
This is a real chance to let your expertise shine. A checklist promises to guide your audience through an unknown process and ensure they did not miss any important steps.
5. Free Coupon or Free Shopping
Getting the very first purchase is often the biggest challenge for most businesses. This is especially true for smaller stores that the buyer has never heard of. By offering a free coupon, or free shipping this is more likely to incentivise the customer to take that first step. If their first buying experience is positive, they’re much more likely to repeat.
Overall, depending on your business or brand, it should be clear as to what lead magnet would work best for you – whether it’s a free coupon, template or a checklist. There’s no reason as to why you can’t trial a few over the months and see which works best for you.
If you would like help developing or growing your email list professionally – please feel free to contact us for a free consultation and coffee on firstname.lastname@example.org or call 01427 808870.
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