In the world of digital marketing, website traffic defines everything. The more people visit your website, the higher it ranks in SERPs. However, there is no point in getting all that traffic if it does not convert into leads. After all, leads convert into paying subscribers and paying customers.
Marketers know that converting traffic into leads is not simple, and they try various methods to persuade potential customers to sign-up and share information. The process is termed lead nurturing. The higher the number of leads, the better are the chances of conversion. Perhaps, a better question to ask is how to increase the number of quality leads. And the answer to that is simple: by using a lead magnet!
What is a Lead Magnet?
As its name suggests, a lead magnet is a way to attract leads and is critical for creating a sales funnel. It is something valuable that you offer to your website visitors in exchange for their contact details. It starts from a lead generation form, and if you provide significant value in return, visitors fill the form to receive what is behind. The value you offer to subscribers in exchange can be in the form of a checklist, eBook, video, or any digital, downloadable content.
A lead magnet is a game-changer for your marketing strategy, and if you do not have one, the chances are that you have missed out on many subscribers. Emails and contact info are something very personal that nobody shares willingly. Even if people like your brand, they will not share personal details without an incentive. As a marketer, your job is to give them a compelling reason to share their information with you. For example, a $10 Amazon gift card is a suitable lead magnet for visitors to subscribe to a newsletter by sharing their email.
Creating highly effective lead magnets is essential to the whole process of generating quality leads. And if you want to know just how to do that, continue reading for a few tips and tricks.
Keep them highly targeted
A highly targeted lead magnet is one that works exceptionally well. Whether you offer gated content, gift vouchers, or any other valuable, you have to keep it targeted to become effective. If you provide something that does not stir a visitor’s attention, then your lead magnet is a waste. For instance, offering a sign-up discount voucher on men’s beard oil on a women’s beauty website will not generate you the leads you require. The reason is due to the irrelevant value you offer to women. On the other hand, offering an eBook to create attractive landing pages on a digital marketing website is highly relevant to its traffic. Study your target market and design a lead magnet accordingly.
The lead magnet should solve a problem
What is the underlying purpose of every product, service, and marketing strategy? To satisfy a customer need or problem! Your lead magnet should offer a solution to a problem. A visitor spends time on your website to search for information regarding a query. If you provide them the right answer, they will willingly share their contact information. Keep in mind that the solution you offer is for an immediate problem, not for something that will happen later. For example, an eBook to create killer content is the right lead magnet for freelance writers. Address the immediate problem when your audience enters your funnel and discuss other issues later. Answering their query with a simple lead magnet helps you build an irresistible bribe to subscribe.
Make it easy to understand
Whatever you offer your website visitor as a lead magnet should be easy to understand and digest. Visitors immediately leave your page if they do not find something easy to engage with. Offer them a genuine lead magnet that attracts and builds momentum towards other offers. In a sense, your lead magnet is a low-level product that points towards a higher value offering. If it is easy, it will inspire them to buy down the other phases of the funnel. Create a compelling lead magnet but do not stress creating a time-consuming resource.
Leverage the Bandwagon Effect
Humans have an innate tendency to follow one another, and you should leverage this psychological effect to your advantage. You can use the bandwagon effect to promote your offer. Make your offer more lucrative by mentioning the number of people who have subscribed, downloaded, or purchased via your lead magnet. The numbers play on your other website visitors’ minds, and they are naturally inclined towards your offering. With a high number of subscribers on display, you build immediate trust with a visitor. Leverage this effect wherever possible to gain quick sign-ups.
Use different offers for different buying stages
Abiding by the sales funnel’s law, you have to engage your audience on each phase throughout the buyer’s journey. You can offer a free eBook at the beginning, followed by product webinars, and finally, a product demo or free trial at the end. Design your lead magnet strategy according to your offers and visitor interests to keep them engaged throughout the process. Your lead magnet should direct the attention towards the next conversion phase until the final conversion stage.
Create a value ladder
Your lead magnet should create momentum and direct a visitor to your next offer naturally. It needs to function as bait that attracts a visitor into your sphere of influence. A lead magnet is not a product on its own but a small part of a more extensive and more valuable offering. Making it helpful and attractive persuades a visitor to buy from you down the road. The more value you offer on the ladder, it builds trust, and you receive the better monetary return.
Use interactive content
The way the audience interacts with brands has changed over time, and they seek value rather than a sales pitch. Researchers suggest that customers are likely to buy from the same brand again if the brand keeps them engaged. The best way to entice your audience is to have interactive content. Experiences like quizzes or assessments offer value and amusement simultaneously. Reports indicate that more than 70% of conversions happen due to interactive lead magnets compared to passive content. An interactive lead magnet gives better information about your brand to website visitors and your service offerings.
Gaining conversions is not easy, but you can have better outcomes with a suitable lead magnet. Your lead magnet is one of the first things that a website visitor engages with. It has to be interactive and engaging to convince them to give out personal information. You can build better lead magnets using the tips given above. However, that’s just half the process. Converting leads into revenue as an entirely different ball game.