When you think about marketing in the context of science, there are magnetic forces all around us. You can see it in a series of emails you receive from an exhibitor after attending an industry conference, retargeting ads from websites you’ve visited in the evaluation process for solutions, or pop-ups on that same potential provider’s website.
But not every force carries the same strength. Amid busy schedules and short attention spans, lead magnets need to deliver clear value to their audience, fast. While this is connected to the resource itself, it’s also a matter of how it’s being distributed — and from a long-term perspective, how a business follows up to complete the sales cycle.
Before we dive deeper into the so-called laws of attraction and how to create a great lead magnet — one that ultimately drives people to convert — let’s start with the basics: just what is a lead magnet?
A Lead Magnet Defined
A lead magnet refers to a free resource, product or service provided with the intent to collect information from contacts. The incentive is to get permission to contact prospects so you can continue the conversation with them and in time convert them into a customer.
Lead magnets are often thought of merely as entrance points to the sales funnel. Yet, similar forces need to be in motion to move prospects through the stages of the funnel and to the point of sale. While an industry checklist, report or webinar can serve as that top-funnel lead magnet, an ROI calculator or quiz can cater to middle-funnel prospects and buyer’s guides, case studies, and trials can be used to attract bottom-funnel leads.
What Makes a Lead Magnet Great?
When marketers used lead magnets to encourage sign-ups, 50% reported higher conversion rates. While eBooks are touted as the most popular lead magnet (with nearly 28% of marketers reporting their use), followed by webinars at 24.9% and free tools at 21.3%, the success of a lead magnet extends far beyond the type of resource.
Lead Magnets Must Solve a Problem
Lead magnets should be designed around providing solutions to specific problems — whether it be ones a prospect is already aware of or ones they may not even realize they have yet.
Take, for example, a custom product packaging provider that creates a checklist about how to enable a successful product launch. The topic itself is specific enough to attract the right audience: those in the midst of a leading product launch or those with an interest in leading one. With the inclusion of thoughts from industry leaders who have led successful product launches themselves, it can be of value to new and seasoned professionals. And when those industry leaders are your customers, it can add to the benefit of showcasing your expertise in the space.
Lead Magnets Must Be Easy to Consume
The ease with which prospects consume lead magnets can be thought of in two respects: its promotion and resources to support the main piece of content.
The first idea lends itself to the fact that people’s attention spans are short. If you’re creating a website banner, blog post CTA or social media graphic to promote your lead magnet — alongside other avenues like email marketing and paid advertisements — you’ll want a clear call-to-action so prospects know exactly what they’ll get when they click the button. It’s also beneficial to include visuals alongside this messaging to paint an even-clearer picture.
In the context of the resource itself, consider resources you can use to supplement the lead magnet so prospects get the most value when they do decide to trade their contact information for your offer. Consider the case where a SaaS provider offers a free trial. As soon as the contact fills out the form, they could trigger an email workflow that has a series of videos showcasing how to use different software features and their benefits. This additional content helps interested prospects get the most out of their free trial and be more likely to see the value of the software investment.
Give Your Lead Magnets the Force They Need to Be Effective
Attractive lead magnets can pack a big bunch — bringing new leads into the sales funnel, but also nurturing those relationships with current prospects.
With a team of in-house demand generation experts, Kuno Creative is ready to help you create great lead magnets that focus on every stage of your sales funnel. From strategy, and creation to promotion and follow-up, we’ll offer support every step of the way so you can get the most out of your marketing investment.