In a competitive market, there are a number of businesses targeting similar audiences with similar products/services. So how do you pull your ideal customers towards you?
By using lead magnets.
What are lead magnets?
Lead magnet is an ‘extra’ incentive you offer your target audience above your existing resources/products/services. This offer is made in exchange for their contact information such as name, email id, phone number, etc. This tactic is considered as one of the best ways to get more email subscribers.
So if you don’t have a lead magnet or can’t come up with ideas for one, here are 8 lead magnets that you can use for increasing your subscribers substantially:
1. Tips, tricks and other resources
One of the easiest and the most useful lead magnet for your target audience can be a newsletter that promises to give away tips, tricks and other resources related to what they are interested in. This eradicates the need for them to manually seek for industry trends amidst their regular schedules.
A simple way to do this would be to include the latest blog posts that you publish in the newsletter, along with interesting articles you come across while browsing. Push out the newsletter on the same day every week so that your audience knows what to look forward to, and when.
For example, here’s how Unbounce makes use of this lead magnet on their blogging section:
2. Case studies and whitepapers
One of the most trustworthy ways to let your customers know that you are on top of your industry news, know what you’re doing, understand what they need and have effective solutions for it, is through a whitepaper or a case study.
Using this lead magnet idea also gives you the opportunity to address a customer concern and suggest your solution for it in-depth, which is automatically more convincing than a regular marketing message.
For example, Cardinal Path uses its case studies as an offer to get their prospect’s contact information:
One of the most commonly used lead magnets today, are ebooks. The best ones being able to educate the business’s prospects about the industry, sharing actionable insights and solutions to common challenges.
Ebooks can help you quickly convert your website traffic into email subscribers, that you could nurture into customers eventually.
For example, Unbounce offers ebooks to their website visitors on industry and their niche specific topics in lieu of their contact information:
4. Free webinars
There are a lot many potential customers in the market who first prefer becoming aware of the products and services offered by the business before making a purchase. These customers are your likely webinar attendees.
Offering a free webinar, you can pull in this segment of your target audience and educate them about the challenges they face regularly, and how your product solves them. Webinars are good lead magnets for warm leads – people who are already interested in your business.
For example, Kissmetrics offers a free webinar from experts in the industry as a lead magnet for its target audience:
5. Free consultation
If your business offers flexible products or services depending on your customer’s needs, offering a free consultation and a quote can be an alluring lead magnet. Since this directly requires you to get in touch with your prospect customer, you can do this via an email or phone number opt-in.
Such a lead magnet is usually works well for industries such as legal agencies, construction businesses, etc.
6. Free trial
Offering a free trial of your product is the best way to increase your subscribers. It also enables you to let your potential customers experience first hand benefits of your products as well as build trust.
For example, we offer a 14 days free trial of our exit intent technology so that our potential customers can explore as well as understand our value proposition better:
7. Discount coupons
Everyone loves getting an off on something they need or desire. Offering a discount coupon is the simplest way to get a prospect’s contact information as well as encourage sales without seeming too pushy.
Most ecommerce businesses make use of this lead magnet to boost their sales as well as email lists.
For example, Kate Spade uses this lead magnet to encourage their website visitors to join their email list:
8. Free assessments or checklists
Most customers have identified the challenges they face in the industry on a day-to-day basis. But a quick assessment by an expert that tells them the same, can reinforce their decision and nudge them to convert.
Alternatively, recognizing a process that your customer needs to complete on a regular basis and turning it into a checklist so he can keep a tab on his activity, can be a good lead magnet.
For example, Dan Kennedy offers a fast cash checklist to his website visitors as a lead magnet:
And Neil Patel offers a confidential consultation:
Over to you
Lead magnets can vary from business to business, and their end goals. But put in simpler words, a lead magnet should be able to promise ‘extra value’ to the potential customer in lieu of his contact information.
What are the other lead magnets you have used for growing your email list? Let us know too by dropping a comment in the box below!