Lead Magnets: Why You Need One to Grow Your Business
Majority of people who come to me wanting a new website or website redesign express that they want to attract more leads. A website can most certainly increase the number of leads in your inbox. But the results do vary from site to site. The biggest determining factor is whether or not you have a lead magnet.
I’m going to cover what is a lead magnet, the pros of having a lead magnet, what it can do for your business, and how to get started on one.
What’s a lead magnet?
According to Constant Contact, a lead magnet is often an exchange between you and your customer. You will offer a free service or product in exchange for your customer contact details.
You may be saying to yourself, “FREE? You got to be kidding me!” Don’t worry it won’t be the actual services or products you offer that will be free. Instead, the purpose of the lead magnet is to build trust, credibility, and likeness towards your products and services by giving them a sneak peek into what you offer.
Lead magnets often include a free consultation, newsletters, trial subscriptions, sample products, e-books, a 5-step guide, and so much more. By giving out free and VALUABLE information that will help your customers solve a problem, you will start to position yourself as a credible leader in the space.
What Can A Lead Magnet Do For Your Business?
By receiving their contact information, you’ll now put them in your email marketing campaign and continue to send them offers, tips and tricks, and updates for you to stay top of mind and build brand loyalty.
When you have visitors coming to your website, most of the time they’re not ready to buy just yet. They come to your website to first learn more about your brand. Did you know it takes usually 7 interactions until a customer will buy from you?
This is where your lead magnet and email marketing comes in. People often underestimate the power of email marketing. But email marketing has far better conversions than Instagram, Tik Tok, and Facebook ads. Because you get to control the conversation and minimize distractions. Did you know for every $1 you spend on email marketing you’ll gain a return on investment (ROI) of 36 dollars? You can’t say the same with Facebook or Instagram.
On Social Media, people can just scroll to not see your message. On emails, people will click on your email and skim through it. There is no competition on the screen until they click out of your email
In summary what a lead magnet can do for your business:
- Stay Top of Mind
- Increase Brand Loyalty
- Position you as a Leader in your industry
- Build trust, credibility, and likeness
- Attract and convert your leads
How Can I Get Started?
Check out your competitors
You might be saying to yourself “That’s great but I don’t have anything to offer.” That’s not true! You may not realize it yet but you do have a lot to offer to your customers.
I want you to first check out your top competitors and see what they’re doing. If they don’t have one, then that’s great, it will help you position yourself even more. You can always check your corporate competitors and see what they’re doing and how you can do it differently.
Even sign up to receive the lead magnet yourself so you can take a deeper dive into the product, the dos, and don’ts.
Sign up For Email Marketing Platform
You can’t have a lead magnet without an email marketing platform. There are many email marketing platforms like MailChimp, Constant Contact, and many more.
I’d recommend picking one that is easy for you to integrate into your business.
Create your first lead magnet
Now it’s time for you to create your first lead magnet! Don’t strive for perfection, strive for progress. Your first one might not be the best, but most importantly you got it done.
Here’s the type of lead magnet you can create:
- Case Study
- Video Training
- Promotional Products
If you want to see faster and better results of the type of leads you get from your website, then it’s time to create a lead magnet. Lead magnets are a proven tactic to help increase the number of leads in your email list.
My name is Jaredd and I help women entrepreneurs create list-building machines through their website! If you have any follow-up questions please let me know!