What Is a Lead Magnet?
With the overwhelming amount of content available online these days, getting customer attention has become a real challenge. Most people only stay on websites for about 15 seconds, unless they’re being entertained (ex. YouTube).
Even social media sites are experiencing the struggle. Sorry, Facebook.
This makes it pretty difficult to retain a loyal audience. The advent of email marketing aided in this issue to some extent by providing businesses with another avenue to access customers more directly. However, people are understandably reluctant to give out their email addresses without the promise of something in return. This is why Lead Magnets exist.
So, What Is a Lead Magnet?
A Lead Magnet is a nearly irresistible offer made in exchange for a customer’s email address and/or other valuable marketing information, like names and phone numbers. Only the most strategic digital marketers, and mafia bosses, know how to make an offer this good.
But really, using Lead Magnets is one of the best ways to build a strong customer base.
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What Makes a Good Lead Magnet?
Specificity: According to our founder and CEO, Ryan Deiss, the most important element of a successful Lead Magnet is specificity. For a Lead Magnet to perform well, it needs to solve a specific problem by offering a specific solution for a specific segment of your market.
Instant Gratification: A high-converting Lead Magnet must also be instantly valuable to the consumer. Audiences want a solution to their problems immediately, so the quicker you can give it to them—the better.
Unique Value: Of course, your business won’t be the only one using Lead Magnets to get customer information, so it’s important that you offer something unique. A customer should be convinced that you are the right business to buy from over your competitors.
High Perceived Value/High Actual Value: It’s important to invest in the quality of your Lead Magnets. As Ryan says, just because something is free doesn’t mean it should look free. Your lead magnet needs to be high-quality information that your customer is dying to know. Sure, you might reel in a few prospects with flashy marketing, but if your offer lacks substance, you’re likely to lose audience attention very quickly.
Examples of Lead Magnets
When it comes to creating the perfect Lead Magnet, there are a variety of types to choose from. These are just a few we recommend:
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