Lead Magnets
A digital lead magnet is a tool commonly used in digital marketing to attract and engage potential customers, positioning your business as trusted, experienced experts in their field.
We outline the process for creating a digital lead magnet to enhance lead generation for small and medium sized businesses in both B-to-B and B-to-C industries.
What is a Digital Lead Magnet?
A digital lead magnet is a useful resource offered online to attract potential clients by providing solutions to their specific challenges. Effective lead magnets might include a guide to selecting a business like yours, a checklist of items of importance to your customers, or perhaps showinghow a customer may have benefited from hiring your firm (i.e. case studies). There are many different options for lead magnets.
By offering such digital resources, businesses can capture contact information (especially email addresses) from interested prospects, initiating relationships that may lead to future projects. This strategy not only positions the company as an industry authority but also builds trust with potential clients.
Implementing digital lead magnets as part of a broader online lead generation strategy—which encompasses engaging websites, targeted email marketing, social media and effective digital advertising—can significantly enhance a company's ability to attract new customers.
Why use a Lead Magnet?
Lead magnets are a valuable tool to attract potential customers by offering something of value (e.g. ebook, guide, discounts, consultation, free trial, demo, analysis, review, etc.).
Purpose of lead magnets: Use lead magnets as appealing offer in exchange for contact information, which we use to build an email list, nurture leads through the sales funnel and increase sales conversions. This works by establishing a relationship with interested prospects and walking them through the sales process.
Lead magnets (special offers) help:
1. Build your email list
2. Qualify leads – Do they match your ideal customer type?
3. Build relationships with clients, break down barriers to conversion
4. Increase sales conversion
5. Produce valuable market research & insights.
Lead magnets can be inexpensive to put together and there is a low barrier to entry to use this lead generation technique.
Lead Magnet Ideas
Products & Restaurants
Services
1. BOGO (buy one, get one)
2. Free shipping
3. Free samples
4. Lifestyle discounts
5. Coupons
6. Flash sales
7. Social media giveaways
8. Product discounts
9. Holiday promotions
10. Product bundles
11. Customer loyalty programs
12. Free gifts
13. Contests and sweepstakes
1. Free demonstration of software/process/tools
2. Free month of service
3. Free upgrades to higher level of service
4. Free add-ons of additional/associated services
5. Free proposal/quote (in-person)
6. Free cost/performance analysis
7. Discounts on services costs
8. Free cost comparison vs. current provider
9. Risk free guaranty / Money back guaranty
10. Free set-up or kick off services
11. Free year of membership in “special customer” program
A Key to Successful Lead Magnets:
To be successful with lead magnets, it is critical that you identify a specific, ideal target customer. The more specific you can be about the characteristics of your ideal target customer, the more specific you can be with the special offer and promotional messaging.
As part of this targeting, we can also identify which phase of sales funnel we are targeting these customers. Again, the more specific we can be the better.
The stages of the typical sales funnel:
1. Awareness
2. Interest
3. Decision
4. Action / Sale
We also add two more steps for customers in this process, as outlined below.
Step 5: Reselling (to create repeat customers) and cross-selling/up-selling opportunities to get customers to buy more or different products/services from you.
Step 6: Leverage customers. Use existing and past customers to learn what you did well and where there are opportunities for improvement. Also, this is where you can solicit reviews/testimonials, case studies, before/after photos, referrals.
Lead Magnet Promotional Strategy
Based on research findings, a strategic approach ensures the lead magnet effectively attracts and converts leads:
-
Content Selection – Creating an engaging, informative resource that addresses common client concerns or needs.
-
Format Choice – Deciding on the most effective format, such as an eBook, checklist, case study, cost analysis or other tool.
-
Lead Capture Mechanism – Utilize a landing page or page on website with lead capture form offering lead magnet in exchange for contact information.
-
Distribution Plan – Promote lead magnet using social media and email marketing.
