What is a “Lead Magnet” and How Can It Grow Your Business?

Here’s the problem: you’re desperately trying to draw in visitors, gain subscribers, and grow your business.

However, you’re feeling stuck, helpless, and frustrated, unsure of what to do next. The good news is, a compelling lead magnet can seriously help you turn your business around.

First of all, what is a lead magnet? Let’s break it down. A lead magnet is an incentive (e.g. PDF checklist, guide, or discount) marketers provide prospective consumers in exchange for their email address. Basically, you’re introducing your brand, offering a service, gaining email subscribers, and expanding your network. Total game changer!

But why do you need a lead magnet? Why is it so important? Well, put yourself in the visitor’s position. Would you just freely give out your email without anything in return? No? That’s right. People need a strong motivation to engage with your brand. Email is personal. Therefore, it’s absolutely necessary to initiate a personable and valuable exchange.

The seven key qualities of an effective lead magnet:

1. Offers Attainable Solutions to Real Problems

Help your visitors solve an actual problem – a real challenge they’re actively grappling with. And of course, make sure it aligns with your brand. Do research and ask questions to figure out the genuine problems at stake. You want to pull people in (hence the word, magnet) and provide fresh insight. Once you’ve established the problem, guide them with concrete steps and attainable solutions.

2. Provides a Specific Plan of Action

Yes, it’s important to really get down to the details here – articulating a specific problem with a specific plan of action. The point is to invite your visitors, not overwhelm them. Focusing on a particular aspect or issue will help them achieve their goals in a simple, comprehensive way.

3. Demonstrates Your Expertise

You have a niche, so own it! Utilize your strengths and stick to what you know best. Visitors are turning to you for guidance, so spread your knowledge with confidence. This will help turn leads into customers.

4. Makes Realistic Claims

Your claims should be practical and well-supported. For example, a guide to making a million dollars in a month is clearly unrealistic and rarely obtainable. Give your visitors an easy win, a taste of success. This will have them coming back for more.

5. Maintains High Value

Make sure that your lead magnet contains a valuable gain. Fulfill your visitors’ needs with top-notch content that yields realistic, substantial benefits.

6. Supplies Instantly Accessible Content

Deliver content immediately; there should not be any waiting games. After entering their email, visitors should be able to instantly download your lead magnet.

7. Presents Easy-to-Digest Content

It’s all about easy consumption here. Even though you’re the expert, don’t immediately pour out every ounce of knowledge in lengthy, verbose documents. Focus on lead magnets that are quick to digest. PDF checklists are a great option because they’re concise and easy to follow.

Okay, now that we’ve uncovered the key characteristics of an outstanding lead magnet, let’s explore actual ideas and examples. There’s a plethora of lead magnet forms to choose from – toolkits, tutorials, videos, infographics, giveaways – the list goes on. You may decide to create a lead magnet that very specifically suits your brand. For example, a lead magnet for a software company will look different than that of a fragrance line.

Six examples of lead magnets you can implement

Let’s take a look at six examples of lead magnets you can implement to get the best results possible.

1. Checklists

This lead magnet is very popular – and for good reason. Easily digestible, they highlight the absolutely essential elements in bullet points or numbered form. Checklists allow you to summarize the key benefits of the plan or gift you’re offering.  Plus, they are simple to create. When creating your checklist, it’s important to hook your visitors with a compelling headline, succinct description, and enriching visuals.

2. Planner/Calendar

Many people lead busy, fast-paced lives, so an organized program can be very appealing. For example, if your niche is offering culinary tips and sharing recipes, you could provide a planner with several meal plans. A calendar is also a fantastic way to map a plan out, by giving visitors a specific, consistent routine.

3. Webinar

What makes webinars so valuable is the sense of urgency they generate. They totally thrive on the concept of “FOMO” (fear of missing out), as live webinars only happen at certain times. They allow you to teach and engage your visitors, getting them quickly acclimated to your brand. Another option is to record your live webinars and use those as a lead magnet.

4. Quiz

A quiz is a very fun, creative way to get visitors excited about your brand! It works like any typical quiz: your visitors will answer questions and get results. However, before getting those results, they’ll have to submit their email address.

5. Coupon

Let’s face it – people love discounts and deals! Therefore, coupons are a wonderful way to introduce your brand and turn visitors into consumers. Other variations (depending on your company) include free trials, free consultations, and product catalogs.

6. Spin to Win Wheel

Imagine this – upon entering your site, a very visually appealing, eye-catching spin wheel pops up. The design and colors are authentic to the brand and match the site. Next to the wheel, you’ll see the headline “Feeling Lucky?” in bold letters. In a brief but descriptive summary, the lead magnet presents the opportunity for a special discount. First, enter your email address and then, spin the wheel. This is an excellent way to immediately draw in visitors and provide an incentive to browse products and become familiar with the brand. It’s simple, accessible, and compelling. People can’t resist it! The spin wheel accomplishes the main purpose of a lead magnet – giving your visitors a quick win so they can engage with your brand, which will in turn, allow your business to flourish.

So, there you have it.

Now you have the tools to create a superb lead magnet that will captivate your visitors and help you achieve great results. It takes patience and perseverance – so focus on the process, and you’ll be thriving before you know it. Ready, set, go!