Posted On 21 Apr 2021
Marama Carmichael

For a business to make money, it needs customers. There is a whole journey of discovery that your customers go on before they end up actually buying from you, and this is where marketing comes in. More specifically, lead generation. One way to effectively generate leads is through the design of a lead magnet.

Lead generation is the pillar of an efficient marketing campaign. It is the actions or processes through which you are able to identify and cultivate potential customers for your business. You’ve worked hard to develop your product and build your website – now you need something to hook your target audience with. With only 2% of prospects converting after the first website visit, it’s imperative to get the most out of the first interaction before they move on. That’s where a lead magnet comes in!

What is a Lead Magnet?

A lead magnet is an incentive. It’s something you offer a potential customer in exchange for information that is valuable to you – like their contact details. If it works, you can go on to use the information gained to streamline your marketing efforts, build a fruitful relationship and drive conversions.

While a lead magnet is a “freebie” for your customers, it still has to be of actual value to be effective! The 21st-century customer is very marketing savvy. They’ve seen all too many of the marketing “tricks” for anything half-hearted to be effective. They are also time-poor and hate unnecessary clutter in their inbox, so in order for it to work, you must design an asset that truly rewards them for engaging with your message. It must be an obvious and clear value-for-value transfer.

What Must They Do?

For a customer to decide to give over their personal detail in exchange for you lead magnet, it must:

  • Solve the customer’s problem/address the customer’s pain point
  • Provide quick gratification (the customer should be able to use the magnet immediately)
  • Carry some tangible value for the customer
  • Demonstrate your expertise as an industry leader
  • Be easily digestible (lead magnets shouldn’t contain jargon, be wordy, or seem hard to understand)</