How many website hits do you get in a month (if you don’t know that answer, you should have a chat with your web designer about Google Analytics)? More to the point, how many of those visitors convert to become customers? If you think about your website, there’s a reason why people are visiting it; it’s because you offer a service or product that they’re interested in; people don’t just browse random websites (well, most people don’t). So, even if they don’t buy from you on that visit, they’re still a potential customer, which is why your website should include a lead magnet.
What is a lead magnet?
A lead magnet is a way of gathering contact details in exchange for a free item or service. You’ve probably experienced them at some point while shopping online. Examples of lead magnets could be a free download, trial subscription, free consultation, or discount voucher in exchange for your email address.
In marketing, lead magnets are considered to be cornerstones for improving conversion rates and are a great tool for converting abandoning visitors. Many businesses run mailing lists, and most of them have something along the lines of “sign up to our newsletter” somewhere on their website. We’d hazard that not many visitors click on that button. But, if instead, there was a button that said “get 10% off your first order/download this free e-book/arrange a free consultation”, they would be far more likely to click and share their email address.
What makes a good lead magnet?
When creating and designing lead magnets, you have to remember that email is a very personal thing. Most people have it on their phones, so they are essentially giving you permission to drop a message into the palm of their hand.
Because of this, you must make sure that you are providing a really compelling reason for them to hand over their contact details. And you also have to remember that your lead magnet has to relate to the reason they visited your website in the first place. Eagle-eyed visitors to our website, for example, will notice that we offer a free SEO audit; that’s because if a business is looking for a marketing agency, it’s probably because there’s a worry about visibility.
So, a good lead magnet needs to fit one of a number of criteria (or scratch a particular itch).
- Solve a real problem (sharing specific and relatable knowledge that can help the visitor).
- Promises a quick win (think ready-made templates and spreadsheets).
- Super-specific (be related to a very niche concept that your company specialises in).
- Quick to digest (think e-books or access to a podcast).
- High value (vouchers, free consultations, free trials).
- Instantly accessible (the visitor provides their email and can immediately access the content).
- Demonstrates your expertise (this could be tutorials, guides, educational videos, an email course, you get the picture).
What’s the purpose behind your lead magnet?
There are two definable purposes for having lead magnets on your website. The first is to increase your email subscribers, making it easier to spread the latest news about your products or services. Email marketing, when it’s done right (and at this point, we should mention that spamming people is a turn off), is still one of the most effective ways of marketing. Consider for a moment how many times you’ve bought something because a discount landed in your inbox.
And that smoothly brings us on to sales funnels. A lead magnet can also work extremely well as a sales funnel. Aside from giving you access to potential clients, it also provides the opportunity to offer things like free trials and early bird discounts. HelloFresh is a great example of this, offering generous discounts on fresh food to people who share their email addresses (and their friends’). As sales funnels go, offering an initial discount on a subscription service is always going to be a winner.
Want help developing your lead magnets and your email marketing?
Then you probably need to talk to a marketing agency. All aspects of marketing should always be considered within a far wider marketing strategy that is connected to your overall business plan. That’s where a marketing agency like NAMA can help. Our team works with you to ensure that you’re getting your message to the right people. If you want to have a chat, get in touch.