As a marketer, you’ll agree that bringing more people to your website is hard. From blogging to PPC to social media marketing, it’s tough to get your business in front of more eyes. But even if after all this hard work, people don’t convert at all? Well, in these cases, you should focus on one of the best lead converting methods: lead magnets.
In this article, we will discuss what lead magnets are and how you can create them fast.
So without further delay, let’s get started!
What Are Lead Magnets?
This is not a new concept. Marketers have used it for decades.
The author of Predictably Irrational shows how powerful the concept of “free” is for business. He demonstrates it with an example. He offers a $10 Amazon gift card for free and a $20 gift card for $7.
Though the second gift card might look like a better deal to you, all people in that experiment chose the gift card.
In a different study, the author shows how people were willing to get a tattoo because it was free. And when they were asked what if it wasn’t free, 68% refused to get it. Do you realize that 68% of people were willing to get permanent marks on their bodies just because it was free? These studies show that people like free stuff a lot.
Now back to lead magnets: they are not any different from the free tattoos or gift cards. They offer something valuable like an e-book in exchange for some information, e.g., email.
This is a great way to build an email list. You know that people are serious about their personal information. They are not willing to give you their emails unless you provide something valuable. The lead magnet will help you get their emails for email marketing.
How To Create Lead Magnets
Creating a lead magnet is more than just offering a free thing. A marketer needs to put some thought and effort into creating a lead magnet. Follow these steps if you want to create an irresistible lead magnet:
Define Your Buyer Persona
The buyer persona uses data and research to define your ideal customer.
Forget that you are going to attract everyone with your lead magnet. It’s a golden marketing principle that you should define the audience that you are going to target.
Not every person who lands on your website is specific about buying (or getting something, even free). They might be just curious about your services. And they are definitely not going to give their emails so easily.
You might be thinking that my company has different buyer personas. Well, even in this case, you should create one lead magnet for each buyer persona.
We have said it multiple times:
Broaden your view, narrow your focus!
Identify Your Value Proposition
Email is personal contact information.
People are not going to “trade” it unless they are getting something valuable in return.
So your offer should be giving them value. It should be different than what your competitors are offering. If they can find the same blog post in PDF form elsewhere on the internet, why should they give you their emails for downloading it?
Do not promise what you can’t deliver. Let’s say you promise them to send an unprecedented case study. Then you send them a rewritten version of the same study from a competitor, you are asking for trouble.
The first thing they’ll do is immediately unsubscribe from your list. In their mailbox, they can report you as spam as well. Chances are they’ll talk trash about you on the internet. So, failing to deliver what’s promised is a recipe for disaster.
Instead, work on finding your value proposition. What’s the real offer you can give them that your competitors don’t have. Use it as a differentiating point.
Select The Type Of Lead Magnet To Offer
Along with your value proposition, these things will help you decide on what type of lead magnet you are going to offer:
Simplicity: If it’s complicated, it will not help people even if they download it.
Your strengths: Are you good at writing? Then write an e-book. Are you a good spokesperson? Then, you have the option of recording a video as well. It’s entirely up to you.
Make it fast: People don’t have much time, so solve their problems quickly.
Now let’s look at some different types of lead magnets:
- Toolkit/resource list
- Video training
- Free trial
- Sales material
Create whichever one you have the expertise for.
Name Your Lead Magnet
You have identified your value proposition and the type of lead magnet. Now it’s time to name it. Remember that a good name will increase conversion rates.
It’s not that much different from writing the headline for your blog post. Here are a few things you can use to come up with a good name:
- Clearly describe your value proposition.
- Use intriguing adjectives like proven, mind-altering, etc.
- Mention a number
Create Your Lead Magnet
This is the last step of the process. From the previous steps, you have all the foundations of your lead magnet. Now put in the work, take your time, and create something awesome.
Lead magnets are a good way to turn visitors into long-term customers. Use today’s article as a guide when creating lead magnets for your website.
Do you have some crazy insights into creating lead magnets?
If yes, then be sure to let us know in the comments. We want to use them in our marketing strategy.