A successful sales funnel begins with a lead magnet.
But not just any lead magnet.
You need an opt-in that attracts quality leads and build trust by helping your prospects navigate a problem, implement a strategy, or by giving them a useful tool or resource.
In this blog, you’ll find the blueprint for a successful lead magnet that converts.
Before we give you ideas on how to create this type of impactful lead generation tool, let’s get the million-dollar question out of the way: What is a lead magnet?
Lead Magnet Definition
Lead magnet (also known as opt-in bribe) is an incentive you offer to potential buyers in exchange for their contact information such as name, email, phone number, etc.
There are different types of lead magnets, but often they are downloadable content such as eBook, white-paper, checklist, video series, or another type of strategy guide that is helpful to the user.
It works like this…
You create something that your audience can use.
Your audience joins your email marketing list to download your lead magnet.
You deliver the lead magnet you made.
You continue to market based on the audience’s needs and wants.
It’s a bullet-proof formula that’s proven to work.
Our friends over at Digital Marketer generated 28,507 leads in 45 days with a lead magnet that made life a little easier for their audience.
At OptinMonster, we share a useful guide: 12 ways to convert abandoning website visitors into subscribers and customers.
Now that you know what a lead magnet is, and how well they convert, let’s take a look at what makes a good lead magnet.
What makes for a good lead magnet?
In order for your lead magnet to be effective and high-converting, it needs to meet the following criteria:
- It’s easily consumed–lead magnets are only effective when the audience uses them, so if you deliver a 300-page manifesto, you won’t gain traction.
- It’s action-driven–lead magnets need to provide a tool/skillset, or useful information that your audience can apply.
- It creates noticeable improvement–people continue to buy products and services if they work well. Your lead magnet will become successful if it’s as valuable as your products and services.
- It’s free. Pretty simple, really. To generate interested leads, it’s important to give away free goodies.
- It’s relevant. If you’ve done your homework about your prospects, you’ll have no trouble coming up with a lead magnet subject that solves problems.
- It’s instant. Give it to them right then and there (see: 4 ways to deliver a lead magnet).
Here is an example of a free, relevant, action-driven, and easily consumed lead magnet:
Source: Market Functional Medicine
Whether you offer a lead magnet on your website, a landing page, exit-intent pop-up, or via social media, it should be of value to your prospects.
Lead magnets are the one bulletproof method that increases opt-ins, grows your email list, and increases sales.
However, the question is…
How do you create a lead magnet that converts prospects to become loyal customers?
Here are some strategies you can apply to create and test a lead magnet that attracts your ideal customer, increases your opt-in rate, builds your reputation as a problem solver, and ramps up sales.
Leverage industry happenings that affect your audience
Leveraging industry happenings is one of the best ways to build trust and thought leadership.
Below are a few examples of how you can leverage industry happenings and newsworthy events to create a powerful lead magnet.
Example #1: If you are a marketing and sales consultant that helps other companies reach and surpass their sales goals, offer a free resource that provides tips on how to improve while also showcasing your expertise.
Source: Sales Benchmark Index
Example #2: If you run a business that educates contractors on changing laws, offer a lead magnet that includes information on the latest building codes, so that your leads save time and energy on their projects.
Source: American Contractors Organization
Example #3: If you run a SEO company, use the latest Google update to help your readers navigate impending changes and stay visible online, or offer simple tips and tricks to improve search rankings.
I could go on with examples forever, but suffice it to say, when you create a lead magnet, your content must help your audience in a very specific way.
Now let’s take a look at how you can get the information required to create a helpful and relevant lead magnet.
Use data to build a successful lead magnet
Data is the driving force in creating a lead magnet that gives value to your ideal prospects.
But what exactly should you be looking for?
The short answer: you’re looking for data that reflects the needs, wants, struggles, and disposition of your target market.
Here are a handful of ideas that help you retrieve that info.
1. Look for information that separates your customers from the herd. Let’s call this “speculative data.”
To attain it, think about why your customers would seek out your business in the first place.
Consider the solutions they’re looking for, and how your specific solutions create a greater impact.
Use this information as a compass to build a value-driven lead magnet.
2. Factor in real-time behavior. Uncover where existing web traffic comes from.
What ad did they click on Facebook?
What search terms did they use to find your website?
How long do they stay on your site?
What blogs do they read most?
You’ll find answers in real-time behavior that predicts the needs and wants of your future leads.
3. Use Google Analytics for a snapshot rundown of your target customer.
With this tool, you can see spending habits and user preferences at a glance. (Access Google Analytics here.)
Yes, Google Analytics provides data that’s extremely easy and insightful—take a peek at the example below.
4. The last and most obvious way to get data?
It’s your customers themselves. Send out a survey or work with the feedback already given to you, and you’ve got the framework for a successful lead magnet.
Split test your Lead Magnet format
When you’re creating lead magnets, it’s very important that you A/B test them to see which type of lead magnets convert well with your audience.
A/B split testing allow you to see what your audience prefers and which offer converts best.
The photo below shows how data reveals your next move.
Here are a few split testing variable ideas:
- Test in-depth how-to guides versus short checklists.
- Try different subjects — an industry trend versus an actionable tool.
- See the difference between varying calls to action, from filling out a form to calling a phone number.
- Split test visual lead magnets (videos and infographics) versus written lead magnets (guides and checklists).
Now that you know what is a lead magnet, what makes a good lead magnet, and how to make one, start by creating your lead magnet today and boost your email signups.
Looking for the best way to deliver lead magnets? See our guide on how to deliver a lead magnet.
If you liked this article, then checkout our 27 clever lead generation ideas to boost conversions.