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What is a Lead Magnet and How Can it Boost Sales?

Clock5 min. read
byVexxit Professional onSeptember 24, 2020

The term “lead magnet” might sound unfamiliar to you but in all likelihood, you have been using lead magnets to attract traffic and draw leads (potential customers) to your website.

So, what exactly is a lead magnet? In a nutshell, a lead magnet is a marketing tool that presents a potential customer with an offer (usually a freebie) in exchange for their email address and contact details. Since people no longer give up their contact details easily, a lead magnet needs to be attractive enough for a potential customer to share those details. In other words, they have to perceive value in your offer. 

The goal of any good lead magnet is to generate leads and then convert those leads into buying customers. 

Lead magnets can and do take many forms. Some of the more obvious lead magnets include, free eBooks, whitepapers, case studies, templates and swipe files, checklists, guides, short tutorials or webinars and toolkits. But they don’t all need to be content related or downloadable. Other forms of lead magnets include free software or plug-ins, evaluations/consultation or demonstrations, free shipping, give-aways or another form of discount. If you need inspiration, the web is full of lead magnet examples. 

The key to a successful lead magnet is to ensure that your targeted potential customer will find it valuable. An effective lead magnet is designed with purpose and is typically targeted at a specific buyer persona (a detailed description of someone who represents your target audience). If your lead magnet doesn’t resonate with your buyer persona, they simply won’t take the bait.

When designing your lead magnet, you’ll also want to ensure that the value proposition is compelling enough for a potential customer to “click and share”. Does the lead magnet help solve a problem, address a pressing issue or an immediate need? Once you know what type of lead magnet you want to use, how do you get your potential customer to bite? Create an irresistible, eye-catching name for your lead magnet to entice the potential customer.

Ideally, it should be something they simply have to investigate. Generating an effective lead magnet strategy takes work but it doesn’t have to be overly complicated. Remember to focus on your company’s strengths, solve the buyer persona’s problem or address an issue as rapidly as possible and then move them into your sales funnel. Seek the help of a professional Digital Marketer to develop your lead magnets if you lack that experience in-house.  

Much like any marketing campaign, it’s a good idea to keep track of what lead magnets work and don’t work for different buyer personas. Tracking this data will help you refine lead magnet development. Also consider using what is known as a “heat map” for your website. It will help you understand the where to place a lead magnet on your website for maximum results. 

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