What is a Lead Magnet?

A Lead magnet is more like a free gift that you can offer to your potential qualified leads in exchange for their contact information like email, mobile number, etc. I used the word “qualified leads” instead of the customer because the person who has given the contact information in exchange for the value you are offering might or might not be interested in the actual product that you are trying to sell, nevertheless, you would be getting either a marketing qualified lead or sales qualified lead using the lead magnet.

We need to make sure that the Lead Magnet that we created provides value to the customer, and for that we need to create a buyer persona of our potential customers so that we get qualified leads from the Lead Magnet.

Our Lead Magnet should be in such a way that when the audience uses it, they should get convinced with the expertise you are having in that particular field.

Let us say that you are a growth marketer and you sell your ideas to the people who want to skyrocket their business and you write blogs on the same to boost your business.

If the visitors of your blogs download the newsletter from your website by providing their contact information, these visitors are called Marketing Qualified Leads, because the visitor was attracted to the lead Magnet just to download the newsletter but he has not yet shown any further interest in the purchase.

Let us say that the visitor enrolled for a free demo of your growth marketing webinar by filling his information, then here is, in this case, the probability of this visitor becoming a customer when compared to the earlier case is more and he is called Sales Qualified Lead. Now, once the sales team calls him to pitch the Sales Qualified Lead and he responds positively, then the Sales team marks him as the prospect and guides the prospect further through the sales team.

Below are the different types of Lead Magents:

  1. Free passes to events and webcasts: In you blog, you can mention that you are conducting a webinar, and you can ask them to sign up in the next two days for getting a free pass if that topic in the webinar is of interest related to the visitor, then he would signup for the webinar, and once signs up he becomes a Sales Qualified Lead. It is the responsibility of you to pitch him regarding the actual product during the free webinar session and he responds positively, then you are successful in converting him from the Sales Qualified Lead stage to the prospect stage.

2. Offering the visitor a free useful mobile app like a checklist or an app that contains the recipes of some popular dishes around the globe in exchange for their contact information. However, the leads generated here might not have the potential to become a customer to the company as they have not yet shown any interest in purchasing the product, they just gave the contact information to get the mobile app in exchange.

3. You can generate leads even by providing a free version of your service for a month, so that the users get habituated with your service and if they like it and need it in the future, they would come back to you. So, this free version acts as a Lead Magnet here.

4. A Lead magnet can be a coupon code as well, that the visitors can use it for purchasing the product.

5. Videos also act as Lead Magnets and if you create your video with quality content, you would generate leads in the form of subscribers.

6. You can use Polls and Surveys as a Lead Magnet and you can choose the most trending topic and try to create a Poll or Survey on the same, and you could generate leads.

7. CheckList: CheckList is a very good source of information on any task that we do. People get attracted to CheckList because it is designed based on the past experiences that people had while completing a task.

8. GatedContent: You can make some of your blogs to be accesible only when the visitors provide their email address, ofcourse I dont recommend this unless and until your blog is very much popular.

9. CheatSheat: Let us say that you are teaching a course online and you are writing blogs on the same. To attract the visitors of your blog to enroll for your programming course, you can create CheatSheat for that particular course using all your experience and use it as as Lead Magnet for your visitors.

10. QuestionBank: You can prepare answers to a list of questions relevant to the product and you can use that list as Lead Magnet.

11. Calculator: Let us say, you provide loan to your customers, and if visitor wants to calculate the EMI of the loan that you offering, you can make your website to prompt for telephone number and once the users provides, you website can show the EMI calculator.

12. Social Network Groups: Social Media Groups attract more leads in the form of the subscribers if you create qualitiy content in those groups.

13. Free Consultation: Let us say that you are cyber security consultant, you can offer your potential customers a free security scan of their app/website in exchange for their contact information.

14. Free Quote: Say for instance, you sell insurance policies and you provide free quote for the insurance policy to the customer in exchange for their contact information