Want to expand your reach into attracting new customers for your product or service? You’re in luck! A lead magnet would be a great tool to look into.
To coax your target audience into your marketing or sales funnel, a lead magnet can be used as a ‘bribe’. As notorious as it sounds, lead targets are completely fine to implement into your marketing plan. You ‘bribe’ something with a specific piece of value in exchange for their contact details that you can use to create a relationship with the individual that hopefully leads to a sale further down the line.
That valuable something of lead magnets are often things such as:
- Case studies
- Exclusive videos
- Free shipping
- Free trials
There is one thing to remember when using lead magnets which is to implement a lead magnet that is directly linked to your product or service. The main reason being that it is highly specific and will more likely attract the right customers who are more likely to convert into paying customers.
Here are our six tips on building a successful lead magnet for your product to boost growth.
- Be specific
The key aspect of an effective lead magnet is that you need to be visible during your target audiences’ time of need and provide a specific piece of value to help them in that point in time.
Let’s consider a scenario where you are a beginner at SEO and want to optimise your site. Not a master of SEO? No problem. A great tool to use is SEOptimer. They offer a simple tool which helps to optimise your site, and it is free. This lead magnet is part of SEOptimer’s product that they give away for the purpose of generating leads. You can see how this lead magnet is very specific to their product which is all about optimising SEO.
- Offer high value
Your lead magnet needs to be valuable to your lead. Currently- content marketing is booming, and competition is tough so offering a valuable magnet will help to catch your target audiences’ attention.
Now that you have captured their attention, you must hold their interest. Keep them on their toes to want to know more about the product or service you are selling. If what you have created is valuable enough, they will share it with their network which attracts more pairs of eyes.
It sounds easier said than done but the more you know your target audience, the easier it is to create something of high value. Research your target audience. Know what interests them and what they want.
- Make it easy
It is necessary to remove any barriers that might make it difficult for your target audience from recognising the value of your lead magnet.
A common mistake revolves around the template of lead magnets. You must avoid adding too many fields in your lead conversion form as they are known to result in a lower conversion rate.
Try to build a lead magnet for your product that makes it easier for your target audience to get that product. Otherwise, a difficult to access product may result in your target audience deciding to refuse your free magnet as it is simply too difficult.
- Provide Instant Gratification
After you have made it as easy as possible for your target audience to get to the core of your lead magnet, you need to provide instant gratification. If the user doesn’t find value promptly, they are less likely to continue to engage with your lead magnet, and pay attention to any future conversion tactics you may send their way.
- Show your value
Building a lead magnet into your product should be able to portray your true value proposition. It should help the user understand what you can do for them, and show them the potential value before they pay for it. Think of it like a ‘free trial’.
- Keep the relationship going strong
Once you have captured their attention (and contact information), do not forget them. It doesn’t stop here. Nurture the relationship to bring the lead closer to the point of purchase.
Here are a few strategies very common in B2B marketing to use for nurturing the relationship:
- Automated email drip campaign
- Following the brand’s social profile
- Booking a call with a sales person
Now that you have created your lead magnet by taking into consideration our top 6 tips, make sure you are tracking each stage of your target audiences’ lead magnet journey.
Questions to think about include:
- How much traffic is the lead magnet driving?
- What is the conversion rate for a new user who visits your landing page and ends up using your lead magnet?
- What is the conversion rate of people who use your lead magnet and then become a paying customer?
This will determine how well your lead magnet is performing and whether you need to do some tweaks to get it in tip top shape.