Lead Magnets Defined
If you are picturing a U shaped magnet, well, metaphorically, you are correct!
Whether you are a B2B or B2C business, utilizing Lead Magnets can help you fill your sales funnel. Think Inbound Marketing. A magnet–pulling in customers. A great organization called Digital Marketer defines a Lead Magnet as “an irresistible bribe offering a specific chunk of value to a prospect in exchange for their contact information”. So, depending on what information you may want or need, you offer up a great piece of educational content and in exchange, they provide some contact information. It is often utilized to grow an email marketing list. And, NO, email marketing is not dead.
There are really 2 types of people who peruse the internet these days: problem aware, and problem unaware. So, if you drive an audience to a landing page that offers them a great piece of content that educates them on a solution to a problem, or potential problem, you move them into your sales funnel once you educate them. Continue to educate them. Show them why you can solve their problem or fill a need.
Now, keep in mind, the offer is everything. With the right positioning and copy, a good lead magnet can very effectively grow your lead generation to unseen levels. This blog entry is, in essence, a lead magnet. Offer below :).
How does it work?
Great question! Well, it was my question, and I asked it….so it must be good :).
Think of the sales funnel. Again, this works if you are a business or a consumer oriented provider of goods and services. There is the concept of Top of Funnel (TOFU), Middle of Funnel (MOFU) and Bottom of Funnel (BOFU). And, as you can see from the diagram, there are different pieces of content that should be offered based on where a potential customer is in the funnel. This visual is from Digital Marketer.
As you can see, it is important to match up the content piece (Lead Magnet) with where the potential customer is in the sales funnel. You can utilize them on a website, landing page, in social, etc. Understand where your potential audience hangs out on the internet, and get your message (content) in front of them.
In an inbound model, you are trying to convert that visitor into a lead, then into a prospect, then into a customer, then into a delighted advocate.
Now back to Lead Magnets. There really is a “science” around utilizing the right Lead Magnet with the right content in the right place in the sales funnel. You can not get too anxious to try and make a sale. In today’s world, buyers want to be educated before the make a buying decision. Your content should speak to that. I have seen some case studies where buyers are 80% through the buying process before they even want to talk to a company or a sales person. Be patient!
Now, just because you build it, they will not come. Some will by happenstance, but a more effective way is to pay a platform (Adwords, Display, YouTube, Facebook, Twitter, etc.) to get your message and content in front of a very targeted audience.
Learn something? Hope so.
Now the offer. If you would like to learn more about funnel optimization via Lead Magnets, go HERE and give me a call, or shoot me an email. In return for that effort, we will offer you a one hour FREE consultation to get you going down the right path of utilizing Lead Magnets.
