Whether you have heard of the term “lead magnet” or not, it is an incredibly powerful tool that every business should be using in their online marketing strategy. As the name suggests, it’s a piece of content that attracts leads into your business.
This piece of content should be designed to be both incredibly valuable and irresistible to your target audience. It’s typically offered to your target customer for free in exchange for contact information (ie an email address). This way, you can build your email list and expand your email marketing efforts.
You’ll aim to convert these leads into customers later, but the first step is to bring them on your email list to nurture the relationship. Remember: people buy from those they know, like, and trust.
Before you decide on your core lead magnet(s), it’s important to consider the product or service you currently (or plan to) sell.
Think of it this way:
What does your customer/client need to understand, be aware of, or believe, in order to want or need your product or service?
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HONESTY ALERT: It’s one of my lead magnets, but it’s meant to help you!
Your core lead magnet should align with the product, program or service you plan to sell.
Why ask for an email address instead of a credit card?
Imagine going to a bar, meeting someone, and asking them to marry you. You haven’t gotten to know each other yet! This is one of your first experiences with this person, so it’s your opportunity to offer value up front, before asking for the ring… I mean sale.
So what do you do instead? You ask for an email address.
You’re asking for permission to stay in touch. Now it’s your job to build a relationship and to earn their trust.
Here’s an example:
Ikea offers their new catalogue every year for free in exchange for contact information. In this case, they send it to you in print or digital format. Once they have your contact information, they have the ability to send you discounts, new products, updates, and any other information to nurture the relationship. If you’ve expressed interest in their catalogue, they know you will be interested in their products if they are on sale, or have anything new. This translates to sales: turning leads into customers.
Although the people joining your email list aren’t necessarily parting with their money, by merely handing over their email address they’re investing some level of trust in you. They expect you to reciprocate by delivering value. However, it’s not just about the content. It’s earning an email opt-in requires making an attractive offer and compelling call-to-action.
You don’t have to create something incredibly extensive. It should be easily digestible, informative, and interesting to your target audience. It shouldn’t take weeks for your lead to consume. Make it concise enough to avoid overwhelm, but lengthy enough to give real value.
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