Why Does My Business Need a Lead Magnet and What’re Good Examples of Some?
Video Notes & Links
A question our agency often gets is why do I need a lead magnet? After years of being in business and hundreds of happy clients, this question seems like a no brainer. But again, after years in business, we realize that having a good lead magnet isn’t as obvious as we’d think.
Follow us for a second, alright?
Imagine owning a company (maybe you don’t have to imagine) and you’d like to project how many sales your newest product would get. Would you rather spend $1000 testing your new merchandise and possibly incurring a lost, or put out a small, relatively inexpensive sample to gauge interest and attract leads, then scale when appropriate?
From a common sense perspective, it’s an obvious choice to cheaply test your product through lead magnets and funnels, rather than breaking the bank on an unvalidated idea.
This is one of the biggest reasons why you need a lead magnet, or multiple lead magnets, depending on your product offerings.
Another reason to consider having a lead magnet is to build your authority. What resources do you have to lend to your credibility? How does your target market know that you are someone worth trusting much less worth purchasing from?
Reviews and testimonials are a strong base, but seeing is believing. Your potential clients want to see what you can do for them rather than hear about what you did for other people. Your lead magnet gives you the opportunity to show your potential customers your knowledge, skill, and ability to solve their problems. If your lead magnet is good enough and solves a problem for your ideal client without them having to make a purchase, your credibility shoots through the roof.
So, besides building your credibility and testing your product, why else might you need a lead magnet?
Well, let’s consider the most basic part of making a sale: contacting the potential client. A sale cannot take place unless contact is made. Often times, multiple points of contact are needed for a sale to take place. Your lead magnets allow you the opportunity to make contact with your potential customer without being forced, awkward, or salesy. When your lead magnet converts, that’s the buyer’s way of granting you permission to contact them. Hint: They wouldn’t have given you their email if they weren’t interested in learning more about what you have to offer.
Bottom line, you need a lead magnet to take that next step in your business. Skip the cold calls and create some warm calls.
After we’ve spent all this time telling you why you need a lead magnet, this post would not be complete if we didn’t leave you with a few examples of solid lead magnets. The type of lead magnet you use will depend on the ultimate goal of the funnel. Below is a short list of a few easy lead magnets you can use in your business, today!
Freemium Account (Tons of value up front, charge them later)
Assessment Graders (These are our personal favorites! These create an awesome opportunity to open a dialogue between you and your warmed lead)
Access to Content (daily/weekly blog)
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