Lead magnets are used to create a sales funnel by providing potential customers with something of value in exchange for their contact information. Lead magnets can be offered in the form of free ebooks, checklists, free trials, webinars, or quizzes.
They’re a great way to generate potential prospects without breaking the bank. With a little elbow grease, strategy, and execution, you can have another weapon in your lead generation arsenal.
Benefits of Low-Cost, Effective Lead Magnets
Lead magnets provide an effective and cost-friendly way to build a list of potential customers and increase engagement with specific campaigns. Your lead magnet should be tailored to your target audience. When deciding what type of asset to create, consider what would bring value to your ideal customer. It needs to be valuable enough to convince prospects to provide their contact information in exchange for it.
Because this asset is something you create, in most cases, all it takes is your time. And, once it’s developed and marketed, it should continuously provide leads for your business.
The average lead magnet conversion rate is 11.4%, according to a study by Leadpages
Five Most Effective, Low-Cost Lead Magnets
There are many types of lead magnets, but the most effective and low-cost lead magnets you can start creating now are:
1. Free Ebooks: An ebook is a digital book that can be downloaded by potential customers. It should contain valuable information related to your product or service and is a great opportunity to position yourself as an authority in your space.
2. Checklists: Who doesn’t like a good checklist? This is a relatively easy asset to create and should showcase your expertise by including things that most individuals not familiar with your industry would think of.
3. Free Trials: A free trial is a great way to get potential customers to try out your product or service. You’ll need to determine if the trial should require a payment method to start. This is where A/B testing comes into play.
4. Webinars: A webinar is an online seminar or workshop in which potential customers can learn more about your product or service. This is a great way to provide valuable information and build trust. It puts a face to the name and allows you to demonstrate your expertise.
5. Polls: These are low friction ways to generate leads. First, identify a poll that your target audience would be interested in. Then, require them to submit their response in order to view the poll results.
According to Statista, 86% of businesses use lead magnets to capture leads
Lead magnets work and have a low barrier to entry to begin generating leads. In our experience, the most comment impediment for not using them is time. Need some help with this? Please contact us to learn more.