If you have an online business, are thinking about taking your brick and mortar business online, or even if you are brand new and want to make money on the internet – understanding lead magnets is essential.
Every successful marketer is using them, and they are the first part of the online funnel that will allow you to live the laptop lifestyle that so many people are getting to experience.
Let’s hop into it.
What is a Lead Magnet?
A lead magnet is essentially a bribe. You offer them something of value (for free) and in exchange you receive their contact information.
You can then use this contact information to follow them up with emails (or possibly even direct mail) in an attempt to sell them your products or services.
3 Examples of Lead Magnets
Guide- Guides are probably one of the most popular lead magnets that people are using nowadays. You have to be careful with this one because you can easily create a guide that is too complex or something that doesn’t solve a specific problem. (which is your goal here)
Video- You will need to be effective at delivering video training in order to make a success out of this type of lead magnet. But, with the right person offering the training you can offer huge value with a video.
Free Trial- Businesses that are confident in their product will often offer free trials to allow the customer to see the value in what they are offering.
Why They Are so Effective?
Everywhere you look, someone is trying to sell you something. We are constantly bombarded with television adverts, billboards, radio ads, and of course the internet boom has created a hoard of aspiring entrepreneurs to chase the internet lifestyle in at attempt to their millions.
This has causes people to be sceptical. They are being sold to so often that it takes so much more to convince them to make a purchase than it did years ago.
So, when somebody offers to solve your specific problem for free, it’s a no brainer. Once you have offered them tremendous value with your lead magnet, they get to know, trust and like you enough to purchase from you. As well as that, the rule of reciprocity comes into play and they feel compelled to repay you for the value that you offered them for free.
Final Thoughts & Tips
It is essential that the lead magnet is consumed by the prospect for it to have any effect. The idea is that you offer them immediate value by offering them a solution.
There is no reason to make them complicated. In fact, the simpler they are the better. You simply need to solve a specific problem within your marketplace.
The quicker they are to consume, the better. You need to make sure your lead magnet is consumable within roughly 5 minutes of them entering their details. That way, they remain ‘hooked’ and begin to trust your brand enough to move further along your funnel to become a customer.
Have any questions? Have more examples of lead magnets that were not mentioned in this post? (there are tons) We would love to hear from you in the comments below.