5 Compelling Lead Magnets That Work Every Time
Do you have a content marketing strategy? Are you unsure what lead magnets work best?
While running a content marketing strategy, it is important to capture email subscribers. Social media can be great for driving traffic, but it isn’t highly effective in generating customers.
McKinsey & Company found that email is nearly 40 times more effective than Facebook and Twitter combined in the acquisition of customers.
One way to convert website visitors is by asking people to sign up to your newsletter. But this isn’t as effective as offering an incentive in exchange for an email address as discovered by Chris Spooner who was able to capture 10X more leads when he gave away an incentive and made a few other changes.
If you’re wondering what you can use as a lead magnet to capture more leads, then you have come to the right place.
Below I have discussed the benefits of various lead magnets and how to get the most out of them. Pick and use the ones that suit your target audience best…
1. Your time
If it’s going to take you a while to create your first lead magnet, then in the meantime you can ask people to sign up in exchange for a free consult.
You might expect this to take up a lot of time, but you can avoid that if you cleverly do what Rich Brooks’ of The Marketing Agents did.
On his website he asked people to subscribe to his newsletter and in exchange he gave them a chance to win a free one hour marketing consult.
On the free consult landing page, he goes on to explain that every week he will do a website and marketing consult with a subscriber on his email list.
Rich Brooks’ also mentions that he will record the consult and share it on YouTube. So with this process he’s not just getting email subscribers, but also some content for his YouTube channel.
You too can offer a free consult in a similar manner and convert traffic into subscribers. If you do a great job, some of these people will turn into paid clients.
You can also mention how much you usually charge for a consult like this on your landing page. This will boost conversions.
Webinars make great lead magnets as it’s a live event many people want to sign up for. According to Adobe Connect, the average conversion rate of their webinar landing page is 51%. 36% of registrants viewed the live event, 54% viewed the recordings and 19% of the attendees joined a product demo at the end of the webinar.
If you would like high conversion rates such as the above, make sure you use a good landing page.
When KISSmetrics began running webinars they used the regular landing pages offered by GoToWebinar.
These had a very low conversion rate, so the company used Unbounce to build some new landing pages. They boosted their conversion rates to 40% to 80%, an increase of over 1,000%.
On the landing page they even added a question asking people if they would like to sign up for a demo. This got KISSmetrics an average of $13,000 in highly qualified new opportunities from each webinar.
Here are some quick tips to help you set up a high converting webinar landing page…
Get a good landing page tool: There are many landing page tools. They already have high converting webinar landing page templates. All you need to do is add in your copy and branding and you are ready to go. Some good companies are LeadPages, Unbounce and Instapages.
Use the power of scarcity: Most webinars will have a limited seating of 100 to 1000 attendees. Make sure you mention this in your copy as scarcity can increase conversions. Also add a countdown timer that shows when the webinar is starting.
Mention bonuses: If you plan to give away discounts, bonuses or exclusive content during the webinar, make sure you add this information to the landing page too. This will persuade more people to attend.
After you conduct the webinar, make sure you promote the recording on a landing page and give access to it in exchange for a sign up. If you conduct webinars on a regular basis, you will have so many lead magnets just like KISSmetrics. To make the webinar recording landing page more persuasive, include testimonials from past attendees.
3. Giving away your products
Your products can be excellent lead magnets too as they give people a taste of what is to come. This works for businesses that have several products or if you have a premium version of the same product. This type of lead magnet can get you a lot of free subscribers, but the free sign ups will only convert to customers if the free product is of top quality.
An example of a company that uses free products to get sign ups is Creative Market. Creative Market is an online marketplace where creatives like designers and photographers can list and sell visual assets like images, vectors and other things for designers, marketers, bloggers and business owners.
To get people to sign up, Creative Market offers 6 new products for free every week. All you need to do is sign up for an account and you can download these products for free. They change these products every single week.
Even people who have already signed up can download these new products week after week. This is a great way to get more subscribers and to get the buzz out about their free lead magnets as existing users who download the products will inform their friends and followers.
4. Free tools and analyzers
Several businesses are creating tools that analyze people/businesses and provide personalized reports. Their target audience can use these tools to check how well they are faring. But in order to use them, they need to provide their email address in exchange. Many people won’t mind doing this if in exchange for an email address they are getting a highly personalized report.
A great example is Hubspot’s Website Grader. To use this tool all you need to do is submit your website URL and your email address. The Website Grader will audit the website and tell you what’s good about the site, what’s bad and the steps you can take to improve it. As Hubspot provides online marketing software this helps them attract very relevant leads.
A similar example is LeadPage’s Landing Page Grader. LeadPages also have another free tool called Rapidology. As both these tools help people increase their website conversion rates they attract sign ups from a relevant target audience.
5. Content upgrades
A content upgrade is a lead magnet that is specifically created for a blog post. You create a unique one for each blog post. This strategy can increase conversion rates by 529%.
Conversion rates are extremely high because you sort of make each blog post into a landing page.
The content upgrade can range from something simple like the PDF version of the post, to a checklist, to an email course. SumoMe experimented with different content upgrades and found that spreadsheets and ebooks work best.
Offering the ebook version of the post the person is reading will only work if the post is very long like this 5,000+ word post. You can ask people to sign up for the ebook version of the post so that they can read it later.
If your post is shorter, you will need to put more effort and create a quality lead magnet like a checklist or video.
If you plan to use this technique make sure you put a lot of effort into researching, writing and promoting this post. The post needs to continue attracting traffic through social media and search engines for a long time as creating a content upgrade from scratch can be time consuming.
You can include all of these 5 lead magnets in your content marketing strategy. They can all bring in big results. But remember that capturing a lead is just the beginning. After that you need to nurture this lead with more free content. This will get more leads to convert to customers.
Which of the above lead magnets have you used? Which ones have worked best for you? Please leave your comments below.