What is a lead magnet?
Why are lead magnets an important asset that entrepreneurs and online marketers should leverage?
And most important of all, how do you use a lead magnet to effectively create a steady stream of high-quality leads for your business?
That’s what we’re talking about in this guide.
Once we’ve answered all of those questions, we’ll give you 9 examples of various types to inspire you when you’re creating your own lead magnet!
Let’s jump right in.
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Lead Magnet Definition
A lead magnet (also known as a “bribe to subscribe”) is a resource, product, or service that is given away for free in order to collect contact information from the company’s target market. Contact information might include email address, phone number, name, and shipping information.
The keyword here is “free” — or at least, very inexpensive (like $7). In order for a lead magnet to work, it must be something that your target market wants and is willing to exchange their contact information for. In other words, it must be compelling.
Lead magnets are used in lead generation campaigns with the goal of converting website visitors into leads (and eventually customers) and/or generating leads through advertisements. By offering a lead magnet, businesses can increase the likelihood that a website visitor will take them up on their offer and hand over their contact information.
Check out the video below to learn more.
Why do You Need a Lead Magnet?
Wouldn’t it be great if you could just ask people in your target market to buy your products… and they would, without question?
But, of course, that’s not how reality works.
People are wary. And they aren’t going to buy from you right away.
Lead magnets are a critical top-of-the-funnel step that provides free value, builds trust, and sets the stage for ongoing communication and follow-up.
(As with all lead generation tactics)
From there, you can continue marketing to your leads through email campaigns, social media, retargeting ads, etc. in the hopes of eventually converting them into customers.
If you’re still not convinced of the power of lead magnets, check out some of these stats (courtesy of ClickyDrip)…
- 50% of marketers who start using lead magnets report higher conversion rates.
- The 3 top-cited highest performing means of securing leads for B2B marketers include in-person events, followed by webinar lead magnets and ebook lead magnets.
- The average quiz has a 31.6% lead capture rate.
- Roughly 50% of marketers use lead magnets to capture emails.
How to Use Lead Magnets Effectively
Now that you know what lead magnets are, let’s talk about how you can use them to generate leads for your business.
Here are some tips:
1. Keep it Relevant
Make sure that your lead magnet is relevant to the products or services that you offer. If it’s not, then you’re just going to end up with a list of leads that are not interested in what you have to offer.
For example, if you sell skincare products, then you might want to offer a lead magnet that is a skincare routine guide or a list of the best skincare products for acne-prone skin.
2. Keep it Timely
Your lead magnet should also be timely and relevant to what’s going on in the world. For example, if you’re a tax accountant, then you might want to offer a lead magnet on tax deductions for small businesses, particularly during tax season.
3. Keep it Compelling
This is probably the most important tip of all. Your lead magnet needs to be something that your target market actually wants and is willing to exchange their contact information for.
To determine what would be most compelling to your target market, you can start by surveying them or looking at what type of content gets the most engagement on your blog or social media channels.
4. Keep it Concise
Your lead magnet should be concise and to the point. No one wants to read a 100-page ebook — they just want the information that they’re looking for, and they want it now.
5. Keep it Eye-Catching
Your lead magnet should also be eye-catching and visually appealing. People are more likely to download something that looks good than something that doesn’t.
6. Promote Your Lead Magnet
Once you have your lead magnet created, you need to promote it. The best way to do this is to include a link to it on your website and all of your social media channels.
You can also promote it through email marketing, paid ads, or by working with influencers in your industry.
Want to get more tips for creating and promoting an awesome lead magnet? Check out our full lead magnet guide!
9 Examples of Awesome Lead Magnets
Now that you know what a lead magnet is, why you need them, and how to use lead magnets effectively… let’s talk about what type of lead magnets you can create.
Below are ten examples of various types of lead magnets with descriptions of how and when to use each.
1. Free Book
If you’ve followed us at ClickFunnels for any significant amount of time, you know that giving away free books is one of our favorite ways to generate leads.
Russell Brunson has written three bestselling books — Traffic Secrets, DotCom Secrets, and Expert Secrets — and we regularly give those books away for free, just asking people to pay about $9 to cover shipping and handling.
2. Challenge Funnel
A challenge funnel is a great way to generate leads and build an email list, especially if you have a high-quality course or program that you sell at the end of the challenge.
The basic premise is that you create a free challenge that lasts for a specific period of time (usually 5-10 days), and people can sign up by providing their email addresses.
During the challenge, they receive daily emails from you with instructions on what to do that day. At the end of the challenge, you can guide them toward the next step of your value ladder.
Here’s an example from our 5-day lead gen challenge.
3. Quiz Funnel
zA quiz funnel is a great way to generate leads because it allows you to segment your audience based on their answers.
For example, if you have a skincare line, you might create a quiz that asks people about their skin type, their biggest skincare concerns, and what type of products they’re looking for.
Based on their answers, you can then send them down different email marketing funnels with content and offers that are specifically tailored to their needs.
This is a great way to increase conversions because you’re only showing people products and services that they’re actually interested in.
Here’s an example from Ramit Sethi…
4. eBook
An eBook is a digital book that can be downloaded and read on a computer, tablet, or smartphone.
eBooks are a great lead magnet because they’re relatively easy to create and they provide a lot of value to the reader.
When creating an eBook, make sure to keep it focused on a specific topic and make it around 10-20 pages.
Also, be sure to include a CTA at the end of the book that tells people what to do next, such as checking out your website or purchasing a specific product.
5. Free Trial
A free trial is a great lead magnet if you sell software subscriptions.
For example, you could offer a free 7-day trial where people can access all of the features and benefits of your software.
At the end of the trial, you can then upgrade them to the paid plan so long as they don’t cancel.
This is a great way to generate leads because it allows people to experience the value of your software before they make a financial commitment.
We do this at ClickFunnels.
6. Free Consultation
A free consultation is a great lead magnet if you offer professional services, such as coaching, consulting, or therapy.
It allows you to connect with potential clients and get an idea of what their needs are before proposing a paid service.
To make the most out of a free consultation, be sure to have a specific agenda that you can use to guide the conversation.
You should also be prepared to answer any questions that the person has about your services.
7. Problem Solving Resource
A problem-solving resource could be any medium of content (ebook, video course, etc.) that helps your target market solve a specific problem.
For example, if you’re a real estate agent, you could create a resource that helps people figure out how much house they can afford.
If you’re a financial planner, you could create a resource that helps people figure out how to save for retirement.
The key is to create a resource that is specific to your niche and that will help solve a common problem that your target audience has.
This is what we do with our Perfect Webinar Secrets lead magnet — it helps our target market craft super compelling webinars…
8. Webinar
A webinar is an online seminar that people can attend from the comfort of their own homes.
Webinars are a great lead magnet because they allow you to connect with your audience and build relationships with them.
To make the most out of a webinar, be sure to promote it ahead of time and offer something of value that people will want to learn about.
You should also have a CTA at the end of the webinar that tells people what to do next, such as purchasing one of your front-end products.
We use webinars all the time…
9. Content Upgrades
Content upgrades are additional pieces of content (e.g., an ebook, worksheet, etc.) that appear when people are reading blog posts on your website.
For example, if you have a blog post about dog training, you could offer a free ebook on the same topic in return for people’s email addresses.
Content upgrades are a great way to increase conversions because they provide extra value to the reader.
To make the most out of content upgrades, be sure to promote them prominently on your blog posts and make them relevant to the topic.
Final Thoughts
Lead magnets are a great way to generate leads and grow your business.
When creating a lead magnet, be sure to keep it focused on a specific topic and make it something that people will find valuable.
Also, be sure to include a CTA that tells people what to do next, such as checking out your website or purchasing a specific product.
Finally, if you’re having trouble coming up with ideas for lead magnets, be sure to check out the 9 examples in this article.
Click the link below if you’re ready for a challenge!
Nice examples. Quiz funnels have been working really well for me recently.
Quiz funnels are one of the best for leads. Glad they are working for you