As a small business owner, you’ve heard the word ‘lead magnet’ and if you’ve just
published a new website, your web designer will tell you that you need one.
In this blog, I explain what a lead magnet is, why they are so effective, and I’ll give you
some great ideas.
What is a Lead Magnet?
Lead magnets are described as such because they aim to attract more leads. It can be a
piece of content such as an eBook, checklist or even a free product demo.
Whatever it is, it’s usually free content irresistible to your potential customers. It
encourages them to accept your offer in exchange for signing up to your email list.
Why do you need one?
If one of your goals is increasing your email list and reaching more potential leads
through your email marketing, you need a lead magnet.
Why? Because people have become wary about signing up to email newsletters, BUT if
there is a great incentive or something FREE, they will give it to you.
Of course, no one freely gives their email address away! You need to ensure you are
offering real value in exchange for them receiving emails from you in the future.
Not only that, but if you tell people what you are going to do with their information in a
privacy statement (and you are not breaking any spam laws), they will trust you.
It’s simple lead magnet + privacy statement = more sign-ups.
What makes a great Lead Magnet?
Lead magnets are a fantastic way of improving your conversion rates, but what you
choose as your ‘magnet’ influences the number of leads you attract.
Your lead magnet will also have an impact on who you attract and whether they have
the potential to become your customers.
So, what makes a good one?
Your lead magnet must have perceived value (such as a unique solution that solves a
problem for people), deliver a quick win and demonstrate your expertise or UVP.
It will also work best if it’s specific, quick to digest and can be delivered immediately.
People love free stuff they can get hold of now!
What are the 5 best Lead Magnets for small businesses?
- Checklist
As a small business owner, this is my favourite. They are quick to create (thanks to
Canva), and they are so easily consumed. It means you can cram all your knowledge into
a short, easy-to-digest list and show your expertise.
2. Cheat sheet / Best kept secrets / Hacks
Who doesn’t love a good list of hacks? Just like checklists, hacks and cheat sheets are
irresistible because they give people the answers to problems quickly. They also give
provide a list of guidelines or processes people can follow.
3. Ebook/Audiobook
Ebooks take a lot of effort to write when you could achieve the same benefit with a
checklist!
However, if it’s packed full of value and the topic is irresistible, you could get good
results. Think about the tangible benefit you are offering -is it worth it?
You may have even more success if you turn your eBook into an Audiobook. More and
more people are turning to audiobooks because they are easy to digest. Give people a
reason to download your audio version!
4. Infographic
Infographics work really well as lead magnets because they allow people to visualise
content and consume it quickly. They can be fun and eye-catching. Is there anything you
can do to add value with graphics?
If you don’t have the budget for a graphic designer, Canva is full of great templates to
get you started.
5. Video / Slide show
Take your infographic one step further with a video or slideshow. Videos have a high
perceived value, so they are like magnets for visitors to your website.
Whether you put real people in front of the camera or create a fabulous slide show with
a smartphone, you can turn it into whatever content you want.
Valuable tips, secrets, advice, and training will be irresistible.
More Lead Magnet Ideas
There are heaps of ideas. Free gifts, webinars, calculators – it really depends on your
business, the tools you have available to you and your budget. As a small business,
you’re likely looking for a lead magnet with the best value for the lowest investment. My
top 5 should do it!
Thanks for reading my blog. I hope there is something in here that is useful for you. If
you’d like some more tips and tricks you can subscribe to my newsletter here.