Converting prospective customers is a lengthy, intricate process that requires different kinds of persuasion tools at each stage of the buyer’s journey. The process begins with collecting leads and the more leads you can get, the higher the chances of conversion.
Lead magnets are opt-in strategies that start a conversation between you and your potential customer. You may consider them ethical “bribes” to get a prospect’s contact details and opening the door for possible further interaction. Therefore, making a lead magnet is now one of the top marketing skills.
But how do you make a lead magnet that converts?
For maximum results, lead magnet ideas must have the following key features:
- Highly Specific
- Give A Promise
- Speak to A Known Desire or Problem
- Immediate Gratification
- Shifts the Relationship
- High Perceived Value
- High Actual Value
Below is a more detailed description of these key features:
1. Highly Specific
Lead magnets must have a pinpoint focus. Generic lead magnet ideas often attract irrelevant leads to your business. Targeting is an extremely crucial aspect when making a lead magnet. The most effective lead magnet ideas are clear, direct, and highly specific. For instance; “how to grow your sales.”
On the same note, different lead magnet ideas will only work at different stages of your sales funnel. For instance, a free trial access to your product or service may deliver better results further along the buyer’s journey. A mini e-book or guide, on the other hand, might work better at the early stages of the buyer’s journey.
Your lead magnets should specifically target your desired audience. For instance, if you are targeting more advanced customers, you would not want to have a lead magnet that contains tips for beginners. It may attract some leads but they will barely interact with your content.
2. Give A Promise
Apart from specificity, an effective lead magnet always carries a promise or a clear end result. For instance, “double your conversion rates in less than 30 days.” It is this specific promise that instantly capture their attention.
Most of your leads will most likely be casually browsing the internet or search engines when they come across your lead magnet. Therefore, it must grab their attention right away and show a promise of value without making them read through long paragraphs or lengthy videos. Your lead magnet must be instantly obvious to lure them to click on it.
3. Speak to a Known Desire or Problem
Your lead magnet should be incredibly helpful at any stage of the sales funnel. It should address a specific pain point or solve a known problem that your prospective client may be experiencing. Always create a lead magnet that provides a specific solution to a specific problem with the least amount of effort on their part. For instance; “the 25-word email that will instantly get you more clients.”
In general, prospective clients appreciate the real value from you helping them find solutions to their problems. To maximize results, you may, in addition to leading them to the solutions, also put a new spin to it by showing them a fresh perspective on how they should solve their problem.
4. Immediate Gratification
The most effective lead magnet ideas provide real results both immediately and over the long term. However, Lead magnet ideas that provide immediate gratification (results), or the ones that instantly solve prospects’ problems or helps them accomplish a certain goal, tend to attract engagement and action a lot quicker.
On the other hand, always ensure your content is delivered immediately after they’ve signed up and avoid keeping your leads waiting before you start delivering the content. Let them get the content as soon they opt-in or hit the download button.
5. Shifts the Relationship
The best lead magnets immediately demonstrate expertise and authority. They should build your own credibility so that prospective customers can begin to consider your business as a solution for their problems. All your lead magnets should always be created with the intention of drawing your prospects further into the funnel at all times.
6. High Perceived Value
Your lead magnet needs to be of real perceived value to your prospective customers. It’s important to state the value of your lead magnet so that your prospects can immediately see how it would help their objectives. Even though they are free, your lead magnets must enable your prospects to achieve the desired results. If they are impressed with your free content, chances are that they would be willing to sign up for your paid products.
Your lead magnets should also engage your prospects logically, which should lead to solving their problem. This, in effect, becomes a step in their overall journey and you become the right person to help them with the rest of the way. Your lead magnet becomes a progressive step and another stage of your relationship in working together to solve the rest of their problems and potentially open up their eyes to other areas they may need help to achieve their ultimate goals.
7. High Actual Value
Most lead magnet ideas have a problem-based approach. The best lead magnets are the ones that relate to real problems your prospects are experiencing. And this does not mean something or a set strategies they’ve seen many times before. You’ll have to provide something unexpected, surprising, or one your competitors are not currently providing.
Potential customers no longer just consume content for the sake of it. They want something they can interact with or something with practical application in their life. Always provide lead magnets they can practically implement like trials, quizzes, assessments, and tools they can use in their everyday lives or business operations.
Conclusion:
Whichever lead magnet you decide to use, always test it out. What works for one business and its customers may not work for another. Always A/B test you lead magnets to find out which ones work best.
For better conversion rates, always lay the foundation for your lead magnet. You can do this by closing with a question, a CTA (call to action), or an irresistible offer to keep the conversation going. An easy, actionable step will make your prospects feel like they’ve received value from your lead magnet.
If you would like to learn more about how to create effective lead magnets, click here to check out our blog post on lead magnets ideas for every stage of the digital marketing funnel.
What is your experience with building effective lead magnets? Please feel free to share your thoughts in the comment section below.
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Alan Lo, Managing Partner of Stratwell Strategic Solutions, brings a decade of entrepreneurial and business development experience. Early in his career he was instrumental in building out the distribution channels of a real estate investment firm with over $2 billion in AUM. He has then founded an investment company in 2014 which he successfully exited in 2019.
2 Comments
Very nice blog!
Thanks Alonzo!