Three Steps to Choosing a Lead Magnet

by | Aug 10, 2020 | Content Creation, Email Marketing, Lead Generation, Marketing Tips

Potential customers visit your website everyday. Your business invested time and money to get them there between your website, design efforts, ad campaigns, social media channels, SEO, and other outreach efforts.

The leads you worked so hard to attract are now clicking around your website, thinking about whether or not you can help them solve the problem they are facing.

And then, many of them vanish without a trace. If those website visitors don’t make a purchase, you may never know who they are, how to contact them, and what you could have done to follow up and earn their business.

That’s why it’s important not only to attract leads but also to capture them—ideally, by using a lead magnet. Before you start writing, filming, speaking, or creating, consider these three steps to strategically creating a lead magnet that helps you convert leads into customers.

1. Define your target audience

Who are you trying to attract with a lead magnet? The answer shouldn’t be “everyone.” Just like a real magnet, lead magnets should both attract and repel. Your lead magnet should target your ideal customer, not anyone who happens to come across it. For help honing in on your ideal customer, download our worksheet, How to Identify Your Target Market.

2. Think of a compelling offer

Think about what would compel your prospect to give away his email address. The chance to get more marketing emails isn’t exactly a rare opportunity. The prospect will be more likely to sign up for your lead magnet if she sees it can help solve her problems. Write down a list of common customer questions, then brainstorm ideas for various types of lead magnets that answer those questions.

3. Plan your follow up

A prospect downloads your lead magnet. What happens next? Don’t simply hope she decides to take action and become a customer. How you follow up on a lead magnet and what you offer should be part of your strategy from the beginning.

Your lead magnet should guide people toward a product or service you’re selling—eventually, anyway. The nature of your lead magnet depends on your business and the buying journey of your customers, taking into consideration the time, money, and information they need to buy.

Businesses with a short buyer’s journey might offer a lead magnet like a promo code or a free trial—something that quickly inspires prospects to become customers. But when the buyer’s journey involves weeks or months, it’s better to offer an educational lead magnet, like a piece of content, than push the prospect to make a decision.

For example, a prospect considering a yoga studio might only need to experience one free class before purchasing a package of classes. But someone considering a six-month diet and fitness program—a purchase involving more time, money, and research—might benefit from educational guides or videos that help her understand whether the program is right for her.

Attracting leads to your website is great; capturing their information is even better. But most prospects who visit your website won’t give you their email addresses just because you want them. Prospects are more willing to share their contact information if they receive something in return, like a piece of content, a discount, or an experience.

These lead magnets serve as the bridge between attracting leads and converting them into customers. A lead magnet allows you to further introduce yourself to your prospects and follow up with the kind of information, questions, and offers that encourage them to buy.