Generating useful and quality leads is no easy feat and often requires businesses to provide users with something of value in exchange for their contact information. This valuable information provided to users is popularly known as a lead magnet. Marketers, today, are trying to generate innovative lead magnet ideas to attract consumers and turn them into valuable prospects.
What Is a Lead Magnet?
In simple words, a lead magnet is an incentive businesses or marketers offer in exchange of consumers’ contact information. A key factor to consider before creating a lead magnet is knowing your target audience well. A good lead magnet should be able to promote your business, offer something of value to consumers, and must not involve any additional costs.
Lead magnets are a powerful and inexpensive tool for marketers to gather useful information from a wider audience, in exchange for valuable resources. The success of any lead magnet idea depends on your ability to deliver content that answers people’s queries in the best way possible.
Why Do Businesses Need Lead Magnets?
Today, not just established businesses, but anyone aspiring to build a brand, whether personal or professional, needs a viable lead magnet. Lead marketing helps you connect better in the industry, while building a list of potential clients that may use your products and services.
Consumers, today, are extremely reluctant to share personal information, and often use ad-blockers to protect their privacy. In these circumstances, a powerful lead magnet gives them a good reason to share their email addresses with you, thereby building trust and a foundation for future relationships.
How to Create a Lead Magnet
A great marketer follows an in-depth process to generate a high-performing lead magnet. Here are the key lead generation steps.
Step 1: identify your buyer persona
A buyer persona is a fictional representation of your ideal customer. As a marketer, you should be aware about the preferences of your target audience, their common queries, problems they encounter, and what they expect from your brand.
Step 2: decide on a value proposition
Now you must identify what your audience will resonate with the most: check whether they wish for a how-to guide for your product, detailed industry reports, a quick course, or some useful metrics. It is the value you propose to the audience that determines how many leads you’ll be able to generate.
The essence of a lead magnet is the fact that you need to offer a high and unmatched value to your competitors. If what you offer is easily available through a quick Google search, or has already been provided by a competitor, you won’t be able to get much success with your lead generation campaign.
Step 3: name the lead magnet
Every marketing campaign has a name, and your lead magnet should also have a compelling title. It should be relevant to your campaign and instantly click with the audience.
Step 4: choose a lead magnet type
At this point, you must be able to identify what types of lead magnets will work best for your brand. You can take a look at the various ideas for lead magnets we’ve shared below to know which one suits your business.
Step 5: create the lead magnet
All that’s left now is to create an engaging lead magnet that instantly attracts your audience and prompts them to subscribe to your email list. Remember to develop a lead generation strategy that is easy to understand, focuses on your strengths, and prioritizes rapid consumption.
What Are the Best Lead Magnet Ideas?
The main idea behind a lead magnet is to grow your email list. But, if done right, it can also be used to foster positive relationships with your consumers, and sometimes, even turn casual browsers into loyal customers. This has been proven repeatedly by marketers such as Neil Patel, who always offers valuable data, information, and advice to businesses and individuals, often converting them into buyers.
The best lead magnet idea should resonate well with the audience and drive high engagement. Here are some of the most popular lead magnet ideas that have resulted in high success rates for brands.
1. Content bait
A content bait is any piece of content that offers instant value to the audience. It may be presented in the form of text-based content, such as ad copy or SEO blog writing, video content, or crisp images. Text-based content may include how-to guides, cheat sheets, checklists, case studies, resource libraries, etc., whereas video content can comprise video courses and detailed how-to video guides that are easy to follow.
Visual content also includes infographics, and sometimes, even comic strips. Content baits are the most common form of lead magnets, since they are considered time-savers by consumers, often providing useful information in exchange of just their email.
- You can find multiple examples of content baits, the very first being industry reports, guides and cheat sheets shared by marketing agencies like HubSpot, Social Samosa, etc., where the consumers need to enter their email addresses to get the information.
- A product demo by Marketo that users can access by filling in a form
- The Content Marketing Workbook by LinkedIn that guides new content marketers through various exercises, acting both as a lead magnet tool and a great resource for learning about content marketing
2. Quizzes and contests
Quizzes and contests can be easily formulated for any industry or niche. As a marketer, you can test your audience’s knowledge about the industry (avoid being product-specific) or run a contest with a promising reward. In the process, prompt them to leave their email addresses to get the results.
While quizzes are easy to create, they need to be audience-specific and highly creative to garner optimum results. They also need to be short and direct, unlike surveys that may or may not have specific responses.
- Facebook quizzes
- The Forbes Top College Quiz that helps prospective college students find the best college with respect to their choice of subjects and location.
Apart from this, any contest, challenge, or quiz that ultimately points you to a specific product or service can be considered an example of lead magnets, especially when you need to share your personal details to get the final response.
Surveys, although containing multiple questions, are quite different from quizzes. These usually pose long and indirect questions about a particular concept, and seek a general opinion of the target audience. Surveys help gather a lot of data, with the user spending just a few minutes of their time.
However, you need to make it clear to respondents that their opinions matter to your organization, so that they don’t hesitate while answering the questions. The assurance of being heard and a suitable reward is usually what attracts the audience to complete lengthy surveys.
- Sites such as Survey Monkey and Zoho Survey have helped many businesses generate great surveys for measuring product experience, employee experience, market and brand insights, and more.
- Justdial conducts frequent surveys to find out about people’s opinions to provide ratings on their platform. It helps assess a business’s credibility, while urging consumers to use the platform to find the best solutions for their needs.
- The surveys that pop up before playing YouTube videos
Widgets are specific tools that are integrated with websites and landing pages. They can be used to offer a specific service such as chatbots, on-the-spot query resolution, callback options, or email subscription. They often prompt visitors to take specific actions and usually work as a great lead magnet, especially when a company is offering useful statistics, consultation calls, or courses.
Typeform, Mailchimp, and Convertkit are popular widget-creation tools that integrate well into your site, and help you gather consumers’ email addresses when they visit it.
- The Neil Patel website, where you will come across a host of widgets prompting you to share an email address or the link to your website for a free analysis.
- Exit intent widgets that offer freebies or product trials before you leave a website. All you have to do is share your email address, and in some cases, even a contact number.
- “Start your free trial” widgets on various websites
You can quickly add an email subscription widget or any other widget to your website. This can be done by hiring the services of a developer or by using tools that offer you different customization options and easy website integration.
Most consumers gravitate towards anything that’s available for free or at a discount, and this makes freebies a really good resource for planning and executing the best lead magnet ideas. Free product trials, coupons, free templates, and complimentary giveaways all come under this category. These are extremely popular among B2C businesses, especially e-commerce brands. They are usually displayed as popups, when the consumers first visit a website. But they can also be offered through social media advertisements.
Free trials are more popular as a lead magnet for SaaS companies, wherein they offer website visitors a chance to try out their premium products without incurring any expenses for a limited time period.
- A seven-day free trial by Tidio, wherein they offer plans with premium features.
- Backlinko’s free newsletter signup that delivers the latest and exclusive SEO news right to your inbox.
- Free website templates offered by websites such as Themeforest
6. Webinars and podcasts
Nowadays, many people consume content through interactive videos, webinars, and podcasts. Although a bit expensive, webinars, video courses, and podcasts have proven to be highly effective lead magnet ideas. You can even invite industry experts to join a session, which will help drive better user engagement, and ultimately, more quality leads for your email list. You can also offer your previously recorded episodes or a series of highlights from the webinar to your email subscribers.
The most intriguing thing about webinars is that they are conducted at a specific time, and usually once, thereby playing on people’s fear of missing out. They help build an instant rapport with potential leads, thus ensuring a high conversion rate. And since webinars, podcasts, and video courses are meant to offer great value the user won’t get anywhere else, they ought to be rich in content. Almost every leading digital marketing service provider has a series of webinars and video lessons that target established and new business owners for innovative ways to grow their business.
- The webinars by Moz offer useful advice and real-life case studies on demand. All they require from you is to fill a quick form with your name, job title, company name, email address, and industry.
- The content marketing webinars organized by the Content Marketing Institute, which features industry thought leaders and prominent content marketers
7. Community building lead magnets
Have you ever come across requests to join a Facebook or WhatsApp group by a business or be part of a membership site to access their services and content? If the answer is yes, then you’ve been roped in using a community building lead magnet. People are deeply attracted towards communities, knowing they have a place where they can share their worries and doubts and get the best solutions from those who’ve been in their shoes.
Community building lead magnets require considerable time and effort to target the right audience, continuously engage with them, and convert them into valuable prospects. But once a community starts gaining repute, businesses can expect exponential quality leads from them.
Memberships on content creation sites such as Copyblogger, Medium, HubSpot, etc., are the best examples of community building lead magnets. Other examples may include brand-oriented groups on Facebook, such as those run and managed by popular gaming apps, fitness websites, job boards, etc.
With the above lead magnet ideas, you can drive powerful, high-performing campaigns for your enterprise. Remember, lead magnets are not just meant to get you leads, but they also act as an engaging tool and help build your brand image. After all, people are more inclined towards a brand that offers exceptional services and additional value apart from its core products.
- With a wide array of options available, deciding on a feasible lead magnet idea can be quite confusing. Lead magnet marketing professionals often take into consideration several factors before crafting a lead marketing strategy.
- Your value proposition defines the success of your lead magnet.
- Whether you are generating B2C or B2B lead marketing ideas, you need to be a highly experienced marketer, acing the concepts around lead generation. Someone working at an intermediate level may not be able to provide the desired results.
- Lead magnets can help convert casual consumers into loyal customers.
- Lead magnets help generate a positive brand image.
A good lead magnet helps build trust and likeability for your brand, often giving people a reason to spend their valuable time and money on using your products and services. A well-formulated lead magnet can get you quality leads in a short time by targeting the right audience and offering value to your customers.
Marketers and businesses use different types of lead magnets to offer value to readers and the audience in exchange for their contact information. Usually, an attractive offer is provided on the website or through social media apps with a powerful CTA, and to access the complete information, users must share their email addresses. The emails so collected are then used for email marketing by different brands and businesses.
The best lead magnet ideas are ones that are easy to execute, can generate quality leads, and help satiate your target audience’s queries. The most commonly used lead magnets include newsletters, how-to guides, cheat sheets, webinars, quizzes, and free trials or discount codes.
An ideal lead magnet should tick all the points in the following checklist:
1. Specificity and directness
2. An invigorating CTA
3. High value to consumers
4. Drives engagement
5. Should be progressive and work without blocking your sales funnel