7 Types of Lead Magnets That Will Build Your Funnel
“Lead magnet” is a very common marketing term, but the meaning changes from time to time, from business to business. In essence, a lead magnet is something you use to draw in your potential customers and get them to exchange contact information for your free offer. Usually, you’ll ask for an email, but depending on your business goals, you could ask for a phone number, address, or more. The key point is that you need to be able to get in touch with this lead at a later date.
But creating a lead magnet can be harder than it looks; we always think we know what our prospects want…. But what do they really want? Ultimately, this will require some A/B testing, but you’ve got to have some offers before you can start testing. So what can you create for your lead magnets? Here are some options that are sure to build your funnel.
No one is going to just hand over their email anymore; you’ve got to give them something they really want. Especially if you’re in e-commerce, you can’t go wrong with a coupon code. Just by clicking to your site, your visitor has expressed interest in what you’re selling. Sweeten the deal a bit by offering them a discount on their first purchase and then you’ll have their email so you can work on increasing their customer lifetime value down the road.
It may seem silly to offer something as simple as a checklist, but the truth is that just because something is obvious to you doesn’t mean it’s obvious to someone else. Checklists are easy and actionable, which makes them a great way to offer your prospect a quick win.
We’re all learning when it comes to business, and it can be tough to try and create your own way of doing things when your new—especially if you want to do them successfully. There are industry standards, there are acceptable ways of sending emails or completing studies. Why not help your prospect by giving them a successful framework so they know exactly how to get started?
I absolutely love workbooks because they end up being a very customized experience without the hefty price tag that comes along with a coach or mentor. Workbooks are a great freebie because they allow the prospect to put their own efforts into context, and the answers they provide can give them valuable insight into what their next steps should be.
Training video or tutorial
YouTube helps us all from time to time, but if I’m being honest with you, all the gurus are keeping the good stuff for their subscribers. The offer of a training or tutorial video can be incredibly enticing to a prospect who has a specific problem to solve and really needs that 1-to-1 connection to solve it.
Small business owners are experts in their field…. But it takes a lot more than that to run a business. A small business owner who is seeking success is always going to be interested in learning more, which makes webinars a wonderful solution for them. You can do 20 minutes, 30 minutes, one hour… whatever makes the most sense for you as the instructor; in that amount of time you can provide a great deal of value in a very personable way. This creates trust and develops connection right from the get go.
I was always a competitive person as a child, and as an adult and as a small business owner, I know how important it is to continue to push myself to grow both professionally and personally. A good challenge that gets my creative juices flowing and inspires me to take action is invaluable to me. I’ll sign up every single time. Throw in a workbook and I’m sold in a big way.
You can do this same thing in your business if you develop a smart, actionable challenge that relates to your paid offer.
There are a million different lead magnets you can build, but you’ve got to create what’s going to be the most enticing and actionable for your prospects. Many a small business owner has failed themselves by creating lead magnets they believe their prospects want without testing or pivoting when the data disproved their original theory.
Lead magnets are going to be essential for building your funnel and growing your ecosystem. Try out a few and stick to the most effective ones. Ask your community what they want/need from you. Run ads. Post on Instagram. Lead those prospects to the water! A good lead magnet will seriously convert and help you grow your business in ways you didn’t know were possible.
Meet the Author: Shauna Armitage
Shauna is a Marketing Director or Fractional CMO helping early-stage startups scale with effective strategies, creative solutions, and unparalleled integrity by making the most of small budgets for maximum impact.
As a vocal advocate for women in business, Shauna is on a mission to redefine what it looks like to be a working woman and to support other women doing the same. She spends her free time traveling with her husband and four kids while drinking Coca-Colas. Connect with her on Instagram at @shauna.armitage.