Principles of lead magnet creation
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Any company that offers its product or service, sooner or later faces the need to expand the circle of customers. And this is not so easy if you do not yet have contacts of potential customers. You can solve this issue with the help of a well-known marketing technique – a lead magnet.
What is a lead magnet and why you need one?
A lead magnet is a unique offer for a potential range of customers that can be received for free. It can be a mini-course, an instruction manual, a demo lesson or a trial version that is designed to familiarize you with the product. The potential customer receives valuable information in exchange for their contact information (phone and email).
In marketing, lead magnets are used to collect data on those who are interested in a similar product or service. In fact, this technique offers a mutual benefit: the client gets a valuable product and the company gets his contacts. As a result, both parties have their benefit.
A lead magnet should not be confused with a tripwire. The latter is a product or service that is offered at an affordable price. The main goal of a tripwire is profit and attracting customers to buy more expensive products. In the case of a lead magnet, the company provides its product/service for free.
Types of lead magnets
Depending on a company’s specific business area, it is important to choose the right type of lead magnet. There are no universal tools, as each option should be evaluated in terms of benefit to the customer and target audience.
The top 5 types of lead magnets are:
- Means at hand.
Materials that can be used in your chosen field. Small checklists, templates, cheat sheets, memos, or printable materials. - Educational.
A free piece of information that is offered in the full version of a product. For example, a video tutorial, a lecture demo, an explainer podcast, or a manual. - Entertaining.
People love free tests, surveys or quizzes. For providing contact information, the customer can learn some statistics or win a discount. The results of a quiz, for example, can be sent to email automatically. - Unifying.
A lead magnet can be an invitation to a closed group, a moderated community or a social media channel. The customer becomes part of a potential circle of buyers, communicates on the topic of the product or passes a free marathon, which increases the likelihood of future purchase. - Enticements.
To retain potential customers, most often companies give them discount coupons or free shipping. To attract a new lead, you can offer to analyze a case study or provide a free consultation.
Functions of a lead magnet
Marketing strategy includes product familiarization, forming a loyal connection with the customer and stimulating sales. It is for the first link of this chain that a properly configured lead magnet is responsible. This tool provides the potential customer with information about the product and guarantees a conditional credit of trust, which later needs to be retained.
If a person has left his contacts, of course he is interested in this product or topic. Having received a phone or mail it is possible to remind about important advantages of purchase, generate personalized discounts and unique offers. Forming a relationship with a lead ensures building a trusting relationship and increases the chances of a future purchase.
What does a lead magnet give:
- increases trust in the brand as a leader in the chosen niche;
- attracts new audiences who may be interested in the product;
- eliminates customers who are not interested in the company’s product or services;
- allows to understand the needs, interests and behavior of the target audience;
- creates a positive experience of interaction with the brand and a trusting connection.
Rules for creating a lead magnet
Even though the lead magnet strategy sends the trial product to customers for free, it must be of value. It is the face of the company by which the rest of the products or services offered will be judged. Therefore, it’s important to focus on making the free product as useful as possible.
Retain your target audience
It’s impossible to please everyone and customize to the terms of each customer individually. Study the needs, interests, desires and capabilities of the majority of those who usually buy your product. Consider in advance what benefits the customer can get and what questions they may have in the process. Try to anticipate possible difficulties and offer a ready-made solution.
Keep your goals in mind
The main goal of a lead magnet is to collect contacts, but you always need to think about the prospect. It is important to offer such a free product, after which the customer will have a desire to buy the full version. The lead magnet should fuel interest in the company’s activities and other products that can be purchased.
Create a valuable product
A lead magnet should be a fully completed product that can be applied immediately. This will save customers from doubts and allow them to take advantage of the free trial immediately. It is important to provide clear instructions and guidance to minimize additional questions.
Respond quickly
Today’s users are overwhelmed with an overabundance of information, so it’s important to send an offer as soon as a potential customer’s contact details are entered. The longer a person has to wait for a free product, the less likely they are to take advantage of it.
Rely on emotion
Ensure the WOW-effect of your product through creative headlines, authoritative testimonials or suggestive statistics. Surprise the potential customer with the positive aspects of the product/service to get them to buy at the top of their emotions.