Studies show that 3 out of 4 visitors to your site won’t return. They won’t look back once they’ve bounced off to another webpage. That means you have only one opportunity to persuade them to buy your service or product.

How do you do it?

By capturing their email address before they hop to the next website.

Having their email allows you to re-engage them. But anyone who’s tried to build an email list knows that getting signups is easier said than done.

That’s why you need lead magnets.

Lead magnets let you tap into your potential customer’s psyche by offering them an incentive in return for their personal information. This makes the users feel that it is them who will benefit and not the person whose site they’re visiting.

Seeing as how we spend a lot of time designing lead magnets for our clients, we know first-hand the importance and value of a great lead magnet. And that’s what we’ll share with you in this post.

What Is A Lead Magnet?

Netflix's use of a 30-day trial is a testament to why lead magnets are important.

A lead magnet is a free service or product you offer to your potential customers in exchange for their contact details. Ebooks, case studies, white papers, trial subscriptions, and free consultations are some of the various examples of lead magnets.

They can be used by businesses of all kinds, from dentists to international conglomerates.

As far as marketing is concerned, one of the most significant benefits of a lead magnet is that it gives them a means to contact prospects, which provides the opportunity to turn those prospects into buyers.

Do Lead Magnets Work?

As demonstrated by HubSpot’s State of Marketing research, lead magnets are a crucial part of a good content strategy:

HubSpot's research presented by this bar chart is a good indicator of why you need lead magnets.

But you can’t just throw together an offer and expect results.

Good lead magnets have certain qualities that make them more likely to be effective and valued by your prospects:

They solve a problem. Not the one you or your marketing team think your customers might be dealing with, but a real issue uncovered by data. Identify the problem your prospect might be facing and offer a solution. 

They are easy to digest. One of the most extensive lead magnets case studies ever carried out has found that short-form lead magnets (video clips, checklists, short tutorials or guides, etc.) convert 17% more than longer-form content. 

They are actionable. Your lead magnet must deliver a quick win for your prospect. They should be able to begin implementing your solution(s) almost immediately after consuming your content.

These are the essential fundamentals to keep in mind when trying to create a lead magnet.

Why Use a Lead Magnet

We’ve hinted at a couple, but there are many benefits of a lead magnet:

Lets you know your customer

To prepare an (effective) lead magnet, you have to research your target audience. Who are they? What are their likes and dislikes? What problems are they facing? This target market analysis will help you develop more accurate buyer personas.

Helps you populate your mailing list

Lead magnets are a two-way street. You give your audience nuggets of information they can’t get elsewhere. In exchange, they provide you with their name and email address which you can use in all your future marketing campaigns. 

Provides you with qualified leads

While user data is available for a pittance these days, not everyone out there is interested in your brand or service. You can thus count on lead magnets to provide you with the data of only those users who are genuinely interested in what you have to offer. 

Enhances your brand's visibility

Lead magnets not only help you pitch various offers to your potential customers. They also increase the visibility of your brand in the eyes of your target market and help keep you top of mind.

Increases your conversion rate

Web pages that promote lead magnets have significantly higher conversion rates than those that simply plaster generic signup forms at the end of a blog post. 

Establishes you as an expert

By providing valuable information to your prospect, they will come to view you as an expert. You will effectively position yourself as a go-to resource for that particular topic.

How Lead Magnets Grow Your Leads

On a fundamental level, lead magnets all operate the same: as bait for your prospects’ contact info.

But the execution of the many kinds of lead magnets can differ drastically. Here’s how some of the most common lead magnets help grow your leads:

Tutorials

This sheep-drawing tutorial could be a lead magnet.

Tutorials let you show your potential leads that you aren’t just after their contact information. They help you prove you have what it takes to help them. You can use tutorials to demonstrate your expertise in your field and come across as a person who knows what they’re doing.

Checklists

This house-buying checklist is a good example of a lead magnet.

Checklists provide the best of both worlds. They are extremely easy to consume and therefore convert better than long-form written content. They’re also super easy to create and allow the marketer to condense everything their potential lead needs into an actionable list. 

Ebooks

An ebook lead magnet signup form.

The human attention span has shrunk to just eight seconds, down by 25% in a matter of years. So, for your lead magnet to be successful, it must offer a quick solution to your reader’s problem, which is precisely what short-form ebooks do.

Quizzes

An example of a quiz being used as a lead magnet.

Unlike the lead magnets mentioned above, quizzes offer personalized benefits. They make you feel as if you’re in a conversation with another human. That’s why quizzes have very high conversion rates.

That's Why Lead Magnets Are Important

By now you should have a good idea of why lead magnets are important. They help you populate your email list, establish yourself as an expert in the eyes of your audience, and provide you with qualified leads. Lead magnets also give you direct access to your potential customer’s inbox. What more can you ask for!

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