You need to build a base of subscribers and prospects without offering expensive incentives that could strain your budget. In your search for a solution, you’ve probably come across the concept of a lead magnet (otherwise, why would you be reading this article, right?).
According to one study , nearly 53% of entrepreneurs use lead magnets to generate leads, and 44.3% reported that this method provides the best ROI. So if you haven’t incorporated this approach into your acquisition strategy, now might be the time to give it a try.
In this article, we’ll explain what a lead magnet is in norway whatsapp number data 5 million marketing, explore the types of content it can include, discuss how to create one, when to serve it, and more. We’ll also show you how to promote your existing content so it drives conversions without a significant investment.
Types of Lead Magnets and How to Choose the Right One
The definition of a lead magnet is explained in the name itself. The principle is simple: you offer your website visitors something valuable for free. The surprise? They share their contact information with you, most often their email and phone number. Your offer can include discounts and free shipping on interesting downloadable materials. We will focus on the latter.
To ensure that a lead magnet is beneficial to both you and your audience, it must fit seamlessly into the customer journey. This affects its content and format. Research shows that respondents prefer different types of content at different stages of the purchase funnel:
Customer Funnel Stages
Types of Content Consumers Need
(in order of request)
Awareness
(people search for product/service info)
Webinars
research report
ebook
whitepaper
infographics
Consideration
(potential customers need evidence to support a specific offer)
case studies
analytical reports
Webinars
whitepaper
ebook
Decision
(potential buyers need reassurance)
demo
user reviews
case studies
Webinars
quiz
Be aware that in the decision stage, potential buyers focus more on reviews and case studies as they search for social proof. However, it is best not to restrict access to these materials as private content. Those who are interested should have free access. Instead, you can use case studies and testimonials to enhance other content, such as ebooks.
By offering lead magnets with content that is relevant to your customers’ needs at every stage of the buying journey, you help them with information and guide them more effectively to the next step. Now that we understand which lead magnet formats are best to focus on, we can take a closer look at them.
Ebook
When you think of what a lead magnet is, an ebook is probably the first thing that comes to mind. Ebooks are a cornerstone of a lead generation strategy for a reason. They offer a significant amount of valuable content in exchange for contact information, which makes them very effective at attracting leads.
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The Benefits of Lead Magnets. Ebooks allow you to delve deeper into a specific topic, showcasing your expertise and providing immense value to your audience. This in-depth content positions you as an authority in your industry, building trust and credibility. Additionally, ebooks are versatile resources that can be repurposed into blog posts, social media content, and even webinars, amplifying their impact.
Best Practices: To maximize the effectiveness of your ebook as a lead magnet, focus on the following:
Create content that directly addresses the pain points and desires of your target audience.
Choose a specific, well-defined topic and provide complete, actionable information.
Invest in professional design to create a visually appealing and engaging reading experience.
If you want to learn more about how to create ebooks, you can find valuable tips on lead magnets in this article .
Checklist
Unlike full-length ebooks, checklists are more concise. They help users navigate a topic or issue. They typically serve as guides that simplify the understanding of complex processes. Using them, a person can successfully achieve a specific goal. An example is the SEO Buddy checklist.
The-SEO-Checklist-Seobuddy
Benefits. Such content should be concise, so it takes less time to create. It focuses on the practical side of the issue and encourages users to take concrete actions, which many consumers may find helpful.
Lead Magnet Best Practices. Consider the following tips to create an effective checklist:
Create step-by-step process descriptions.
Address common pain points or problems.
Make it visually appealing and easy to scan.
Webinar
Webinars are the most interactive form of lead magnet, as they involve real-time communication with the target audience. However, videos of interesting online events can be just as attractive to consumers. According to a survey , webinars are locked content for which 64% of respondents are willing to share their contact information.
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Benefits. Interesting and useful webinars keep viewers actively engaged. During the Q&A session, you can gain valuable insights from your audience. Additionally, these online events are an excellent opportunity to build credibility for the speaker and the company they represent.
Best Practices: To use webinars as lead magnets, consider the following:
Identify your audience’s pain points and offer solutions. Provide unique value that competitors can’t match.
Highlight the benefits of participating and what participants will learn.
Ask only for essential information during registration. A complicated form may discourage registrations.
Free Trials
Free trials are a good lead magnet because users don’t want to buy blind. For example, in the subscription space, one study found that 75% of users are more likely to sign up if they are offered a free trial. However, the average trial-to-pay conversion rate is 50%, which is still a good indicator. The same study found that the most effective offer is a free trial of 7 days or less.
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When it comes to other types of businesses, the same practice can be applied widely. For example, in e-commerce, product samples are offered instead of free trials. This also applies to authors and content creators. See how Noah Kagan offers the first chapter of his book for free as a lead magnet.
free chapter
The benefits of using a lead magnet like this include allowing users to explore the features or qualities of your product on their own. This helps them form an opinion about the necessity of it and, in many cases, stimulates sales and subscriptions.
Best Practices: For lead generation with free trials, consider the following tips:
Clearly explain to the user the main features and benefits of the trial.
Choose the optimal trial duration. Users should have enough time to evaluate the benefits of the product. Common durations are one week, two weeks, and one month.
Provide immediate access to free trial once user signs up.
Offer easy onboarding within the product and via welcome emails.
Quizzes and Surveys
Quizzes and surveys offer website visitors an interactive experience that may be more interesting to them than static content. In return, the company gets not only a new subscriber but also valuable audience data that can be used to improve marketing and sales strategies.
Benefits. The information you collect about your leads helps you segment your contact base and target your marketing efforts more effectively to different customer groups. Quizzes are a fun or educational element. The immediate results allow users to make more informed purchasing decisions, potentially improving their attitude towards a brand. For example, here's how quizzes work on the Naturisimo website.
