If you are into business, you would know the importance of converting strangers into customers. It is what most of your business depends on, apart from the few customers you get through reviews and referrals. You need to compel absolute strangers, who land on your business page or social media adverts, to turn into your trustworthy customers.
Now, the first thing that matters is, of course, your product and its reliability. But imagine your product is topnotch, how do you convince people to experience it? Because once they experience it, only then can they become your loyal customers, right?
Lead magnets are one way of attracting customers to interact with you. Lead magnets have been in the marketing world for decades and are known to be quite useful in compelling people to try you out.
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What are Lead Magnets?
Lead magnets mean offering people something free in return for their contact details, more specifically their email addresses. Lead in marketing terms means any point of contact with your prospective customer. It also helps to build a relationship with your customers, which can later be useful in making sales. So, for example, if you advertise offering a $20 amazon gift card for the subscribers to a newsletter or maybe a $30 discount on the first purchase if the customer logs in their mail address on your webpage. It is a lead magnet strategy that implies in marketing.
Why do Lead Magnets work?
In his book Predictably Irrational, author Dan Ariely talks about the power of ‘free.’ According to him, the lure of freebies is potent. So, imagine if somebody is searching for event planners and your business functions in that field. Now, you have already created a lead magnet with a free checklist on the things one needs to do before planning an event. The person googles event planners and looks at your lead magnet. Chances are they might end up landing on your website in search of the checklist.
Since they are searching for event planners, there is a chance to build a long-term relationship if they find your services appealing and of high quality. It is the basic framework of how lead magnets function. They attract customers to interact with your business, which can later turn into sales for you.
How to use Lead Magnets to Create Loyal Customers?
Since lead magnets have been in the marketing world for too long, there are too many tips & tricks that you can find about creating a lead magnet for your business gains. See, let alone website traffic is of no use to business until and unless it converts into sales and customers. We are all in it for the same thing, which is making money. We want to sell our stuff, and that is what the main objective is behind investing resources. So, let’s see how we can utilize lead magnets into gaining loyal customers that love doing business with us in the long run.
- Make It Eye-Catching:
For us to garner strong leads, our objective is to lure our potential customers into giving their contact details. Now, for this to work, you would most probably need to have an advert with a landing page and then the lead magnet. For this process to happen, you will need to make sure it is eye-catching and grasps the attention of the viewer. Businesses are always on the lookout of hooking viewers to their brands. Your pitch needs to be very eye-catchy for the viewer to look into and accept.
One great way to make it work is to be very straightforward with what is up for grabs. So, you could give out an ad with a punchline on what you offer for free. The whole point is to package it correctly so that it gets effectively placed in front of your customers.
- Link It to Your Actual Product:
This one seems an obvious one but can sometimes get overlooked. The lead magnet you are going to offer to your customers’ needs to be related to what you initially sell/offer. So, for example, you sell jewelry. A great lead magnet would be to provide a discount card on purchasing jewelry from your store in return for an email subscription. Or another fantastic lead magnet could be to offer a free consultation with a jewelry stylist in return for signup! Your lead magnet should tie-up with your primary business.
- Get Straight To-The-Point:
Really! Nobody likes to read long details, and you would not even have much space as well. People on the internet have too much on their plates already. A hoard of brands wants to catch their attention. In a split second, your potential lead can land onto someone else’s page, which brings us to the idea of putting your point in a very straightforward manner. A single phrase should be competent enough to entice, attract, inform, and call the customer action. When devising your lead magnet, make sure you have the answers to three very fundamental questions:
- Why should your audience pay attention to you?
- What have you got for the audience?
- What are they supposed to do with your lead magnet?
Once you have answered these questions, devise your lead magnet in the most petite yet effective way, addressing the questions mentioned above.
- Keep It Simple:
Generating leads revolves around the idea of convincing total strangers to give you their contact details. For that to happen, you need to make sure your offer is too compelling, kind of like something nobody would miss out!
One example is a pop up asking you to register for a newsletter subscription through email and replacing the ‘No’ option with ‘I would rather miss out on the fun information.’ See what they did there? They try to make you feel left out and subtly make you rethink not opting for the offer—also, no need to add elaborate details as to why you should take up the lead magnet.
Add a punchline that specifies what you are offering and then adds a freebie in return for the customer to fill out a slot for an email address. Simple and trouble-free!
- Ask For Less Information:
The more information you ask for, it is highly likely that more people would just turn down the offer and leave. Until and unless your offer is too fantastic, which is usually unlikely since nobody wants to give specific information out as a freebie, the customer might reject your offer and exit. A viewer who does not know you do not wish to spend much time filling out a lengthy form. Try and keep the information you ask for to a bare minimum, such as just asking for the full name and email address.
- Don’t Hold Back:
Often when we talk about giving out free stuff, we genuinely think about giving things that do not worth a lot. We would think someone as stupid if they offer valuable pieces as freebies, wouldn’t we? But that’s the catch. Anyone can provide freebies that aren’t worth a lot. If you want to stand out, offer something valuable! Don’t hold back.
Once your viewers start seeing you differently and start trusting your credibility, they are bound to come back for more. Also, offering worth-it freebies is an excellent way to build loyal customers. When customers start trusting a business, they start coming back to it. Loyalty stems from the trust, and you are bound to spark it by offering your customers better benefits.
- Keep Following Up:
So what happens when you are successful in bagging a ton of leads? Well, they do become your prospective customers. But getting a list of email subscribers does not seal the deal. You will have to keep the communication going and not just leave it there. First up, make sure the promised freebie gets delivered to the customer. Secondly, keep the connection going by continuously updating your customer with worth-it offers and valuable information.
Lead magnets are about developing a healthy relationship with your customer. It is an ongoing process, and you will have to keep investing in your leads. You can provide them with information on some new offers or ask them out to check out your latest blog posts. The objective here is to maintain constant communication and not just leave it stagnant, missing out on sending updates to your customers for months.
- Digitally:
You can also try some digital signature software to increase your onboarding time it will help you to onboard the new lead into the process. Online signature also helps you to reduce the use of paper work and complete your online deal in a record time.
Conclusion:
Lead magnets are a great way to establish relationships with your prospective customers. If executed in the right manner, they can generate numerous leads that will convert into sales and revenue. Just make sure you keep your magnets to-the-point, attractive, and worth it for them to be effective in their job!
About Carson Derrow
