A lead magnet is a piece of content that you offer your readers in exchange for their email address or other crucial contact details.
The psychology behind this marketing tactic is reciprocity whereby readers are more inclined to share their contact details once they know that there’s an incentive – the lead magnet asset (e.g., ebook, webinar, free trial) – waiting for them.
It’s one of the best ways to build a healthy email list, and it is extremely important in prequalifying your email subscribers. It also extensively cuts down the time required to prime them to convert.
However, creating lead magnets can be a complex process. Like any investment, it’s important to have a clear strategy behind the effort to maximize your ROI.
In today’s blog post, we’ve listed the top seven best practices for creating high-converting lead magnets that support your business goals.
Creating Unique, Business-Oriented Lead Magnets
Below are two main considerations to help you decide what lead magnet to create.
Align Your Offer with Your Business
A lead magnet sits at the top of your sales funnel and guides your email subscribers to your paid offers. It should be tightly aligned with your content and offer. The more relevant your lead magnet is to your target audience, the more sales it will generate.
If a reader opts into a lead magnet on email marketing tips, they are raising their hand and indicating that this is something they are interested in improving their email marketing.
If you nurture them, build trust, and then go on to offer additional content that will help them complete their mission, they are more likely to buy your product as opposed to if you turnaround and pitch them an e-book on social media marketing tips.
Differentiate Your Lead Magnet
Is your lead magnet unique? Are there similar ones that exist?
While similar lead magnets in your niche are a sign that there’s demand for that lead magnet, you need to be aware if that type of lead magnet is in oversupply. In an internet environment that competes for human attention, it’s easy for your content to be drowned out by other more appealing content.
We’re not saying you have to reinvent the wheel, but it’s important that your lead magnet stands out in the crowded virtual space. It could be your brand or a cause you’re fighting for.
Top 7 Best Practices for High-Converting Lead Magnets
Now, let’s get to the heart of this blog post: the top seven best practices for high-converting lead magnets.
1. Make it easy to consume
Lead magnets that are simple but pack a punch perform well and deliver great ROI. Consumers are protective of their time and attention, so find ways to offer value almost immediately in an easily digestible format. Checklists, worksheets, and comparison guides are examples of highly consumable lead magnets that perform well.
If your lead magnet takes more than 10 minutes to consume, then chances are people aren’t going to read it.Stephanie Burns, Founder of Chic CEO
2. Give your readers a quick win
Think instant gratification for your email subscribers, because when users associate positive emotions with your content, they are more likely to return for more. Some examples of quick-win lead magnets include templates, free app trials, and discounts. The best part is that these types of assets are easy to create and share.
3. Make it specific
Your lead magnet should not be for everybody. A strategic lead magnet attracts the right people. When you try to convince everyone, you’re convincing no one. Specificity comes from thoroughly understanding your business, your target audience, their pain points, and the best ways to address their problems.
For instance, at Brighttail, we created a lead magnet that specifically targeted Atlassian app vendors who are new to digital marketing. In it, we concisely detailed their marketing challenges and important insights that can take their app sales to the next level.
4. Guide your audience through change
Every piece of content on your website should bring your audience from point A (their current state) to point B (the desired state). Likewise, your lead magnet should provide a transformation, no matter how tiny.
For instance, Gartner is renowned for their data-backed and insightful lead magnets that help readers to transform their processes and businesses for the better.
5. Focus on one idea
Your lead magnet should have one idea or goal as opposed to several ideas. Your lead magnet has a very brief moment to convince readers to consume your material, so it’s wise not to overwhelm them with options.
Back to that Ricksoft example.
Though our client shared three different Excel templates with their readers, the main idea behind the lead magnet was only one: to simplify project management through Gantt charts made using Excel. All readers need to do is exchange contact details to download the template that’s most relevant to them.
6. Address a problem that readers are already aware of
It’s difficult to convince a prospective subscriber of a solution if they don’t know that they have a problem. A lead magnet is one of the first touch points with your brand. Your prospective subscriber needs to know that the problem your lead magnet solves is something they need help with.
For example, we helped Communardo create a lead magnet that helps Atlassian users with a familiar challenge: efficiently navigating the Atlassian app ecosystem. The lead magnet was a downloadable ebook that detailed the possible use cases for tools and apps available that can help Atlassian users make the most of the platform.
7. Align it with your product or service
It’s best that you have a business goal in mind when it comes to creating your lead magnet. Ask yourself, what’s the purpose of your content? Are you trying to nurture? Are you creating further awareness?
It’s best to have a distinct lead magnet for each product or service you offer. This will improve your ability to engage prospects who aren’t ready to buy, and it will help you target your messaging more effectively.
Circling back to the lead magnet that we created for Atlassian app vendors. It was created to support one of our service offerings which is Atlassian Marketing. With a strategic nurturing process (e.g., emails and newsletters), we hope to gradually convert subscribers into clients.
Let Us Create High-Converting Lead Magnets for You
Keep those seven best practices in mind when creating your next lead magnet.
Or you could always leave it to us. We specialize in building effective lead-gen programs for high-tech B2B companies of all shapes and sizes.