What is Lead Magnet and How Can You Use it to Increase Sales?
The focus of many businesses is to capture the attention of their prospects and build a list of potential customers. But how to encourage people to share their emails and get involved in company’s online activities? We know how to do it: offer free options to them to show your openness and genuine interest in their success. Here is where we need to explain the role of lead magnet.
Lead Magnet: What Is It?
A lead magnet is a free option you can present your prospects with in exchange for sharing their emails. With its help, your company can form a customer database and build loyalty. A lead magnet is a free e-book, webinar, template, or video lesson that helps target audience solve some problems. The type of lead magnet depends on the nature of your business and the goals you pursue at the moment. It does really matter what type of lead magnet you’re using to attract your target audience as long as it hits your goals.
Essential Features of Lead Magnet
A well-designed lead magnet must-haves:
- high customer value – to attract customers’ attention, you should provide them with what they actually need. If the perceived value of a lead magnet is low, it will not work as planned.
- immediate satisfaction of customer needs – the major goal of the lead magnet is to offer a solution to the identified problem of your target audience. Addressing the needs of your prospect can build your database in no time.
- unique proposition – you need to explain why customers should buy from you and not from your competitors. This pattern requires careful research of customers’ needs because companies have to operate in a highly competitive environment.
How to Sell with the Lead Magnet?
Once you researched the needs of your target customers and created an attractive lead magnet, you can start thinking about the patterns to drive traffic and increase conversions. In fact, this is a plan of moving your free option through the marketing funnel to deliver it to the hands of your prospects.
Pay Per Click
Many social media platforms offer an opportunity for extensive customer outreach. For example, with Facebook, you can reach more than 1.7 billion users. What you need is to make a profile of your buyer persona to select those you need. Other social media platforms like Twitter, Instagram, or LinkedIn are often used to reach prospects. The type of social media platform depends on your target audience.
Questions & Answers Websites
These websites offer quick and concise answers to people’s queries. The major purpose of such websites is to solve the problems of customers within minutes. They offer an ideal space for placing lead magnets and generating targeted leads as the answers are given. The examples of such websites are Quora or Reddit. The pattern is as follows: you post the link in the text of your answer and your potential customers are directed to the landing page. Here you should pay attention to the quality of the copy you post as the better the quality, the higher customer responsiveness and rating of answers.
This is another pattern that is commonly used by marketing experts to promote lead magnets. Guest blogs help demonstrate authority in solving the issue in question. You may either link the lead magnet to your home or landing page. It would be great if you notify your customers that the link will expire in time to create urgency and increase website traffic.
Make It Visible
It’s a bad practice if your lead magnet pops up first on your landing page when prospects visit your website because it seems annoying. As a natural response, your prospects will close it and never return to the website. Therefore, experienced marketers advise setting the lead magnet when prospects are about to leave your page. In this case, your potential customers will have a chance to get familiar with your products or services. The chances that you will convert your prospects into customers are high if you give them some time to make a decision and they will gladly share their email addresses.
Use Your Landing Page
If your lead magnet is an e-book, an online resource or a guide, you may encourage your prospects to enter their email addresses into a special field of your opt-in form. When they do it, they automatically get your free option. Also, you may redirect leads to your landing page where you offer details about your lead magnet describing the benefits of your products.
Before you start taking actions to increase your website traffic, choose a lead magnet that will meet the goals of your business and satisfy the needs of your target audience. Further, you will need to test the ability of your lead magnet to generate leads. You can try many options and then choose the fitting lead magnet as their effectiveness may vary from industry to industry.
Originally published 2021.01.11 , updated 2021.01.19