How can you acquire your customer’s emails or phone numbers without being too intrusive? The solution is creating lead magnets for brands.
For every business, obtaining the contact information of your target customers is essential so you can nurture them and convert them into paying customers. But how can you acquire your customer’s emails or phone numbers without being too intrusive? The solution lies in creating lead magnets for brands.
Lead magnets are “incentives” you provide your potential customers in exchange for their details. An example of a lead magnet is an ebook download. However, you need to input your name and email before downloading it.
If you need help generating leads, this article will teach you everything you need to know about lead generation.
The Different Types of Lead Magnets
To begin, let’s discover the various types of lead magnets you can use to capture the attention and interest of your audience. While there are several options, here are the most common ones:
Ebooks
When creating lead magnets for brands, ebooks are often the lead magnet of choice for most business owners and marketers. Ebooks are easy to create and can be delivered instantly to your audience. Moreover, digital books can cover various topics and formats, making them versatile for different industries.
Free webinars
Webinars are essentially “seminars conducted on the web.” Free webinars are perfect for lead generation magnets if you’re teaching something technical or requiring a demonstration for your audience. They’re also excellent for providing an interactive learning experience, showcasing expertise in real-time, and building personal connections.
Templates
If you’re implementing digital ads for lead generation, consider offering templates as an attractive option. Templates are predefined formats or layouts that eliminate the need to start from scratch, saving valuable time and effort. Depending on your target industry, you may provide various templates, such as social media post templates, email templates, checklist templates, content calendar templates, and more.
Product samples or trials
Creating lead magnets for brands? Then, offer product samples or trials! Remember that not everyone is ready to make a purchase right away. However, if you provide people with a limited-time sample or trial, you might just convince them to make a purchase. For example, let’s say you’re offering some software. You could give them a 1-week trial to test it out, and all they have to do is provide their email information.
Quizzes, surveys, and polls
For a fun way to connect with your audience (and gather their contact information), try hosting quizzes, surveys, or polls. You know those personality quizzes where they ask for your email before revealing the results? You can do something similar for your business—create easy and interesting quizzes about your work! To reach more people with your quizzes or surveys, consider creating digital ads for effective promotion.
Contests or giveaways
Everyone loves free stuff, so why not host contests or giveaways? To collect your audience’s contact information, just make signing up a requirement. For your contest or giveaway to be successful, the key is to offer a prize that resonates with your audience’s interests and motivates them to participate. Once they’re excited about the prize, they’ll be more likely to sign up!
Lead Magnet Considerations
While you’re free to use any type of lead magnets, it’s crucial to carefully consider your audience’s preferences and align them with your business goals. To assist you in making the right choice, follow these guidelines:
- Gain a deep understanding of your audience’s demographics, interests, and pain points.
- Select a lead magnet that resonates with both your industry and target audience.
- Take into account the buyer journey and tailor your lead magnet accordingly.
- Consider your audience’s preferred content consumption habits.
- Maintain consistent promotion to maximize the impact of your lead generation magnet.
By keeping these factors in mind, you can nail down a choice that clicks with your audience and helps hit your business goals.
And don’t shy away from A/B testing. Try out different lead magnet types, keep an eye on how they’re doing, and listen to what your audience is saying. Tweak things based on what you learn. Let analytics and user feedback guide your way to generating leads.
Measuring the Success of Your Lead Magnet
So, how can you be sure your lead magnets are effective? You can do this by tracking the following metrics:
Conversion rates
The conversion rate is a metric that measures the “percentage of people who take a desired action out of the total number of visitors.” The formula for calculating the conversion rate is:
Conversion Rate = ( # of conversions / # of visitors ) x 100
According to MailChimp, a good conversion rate typically ranges from 2% to 5% across different industries.
Quality of leads generated
While there isn’t a specific formula for gauging lead quality, you can assess it by considering their alignment with your desired country source/origin, demographics, engagement level, fit with your buyer persona, conversion history, and other relevant criteria. Evaluating leads based on these aspects helps determine their potential for conversion and overall quality.
Return on investment (ROI)
Usually, a high conversion rate corresponds to a favorable return on investment (ROI). The ROI formula is calculated as follows:
ROI = (Revenue – Cost) / Cost x 100%
However, if your conversions decline while maintaining the same budget for creating lead magnets for brands, it implies increased spending for your ROI, which is not ideal.
Lead Magnet Examples
If you’re keen on creating lead magnets for brands, here are a few examples to spark your inspiration:
SEJ Webinar
This year, Google has introduced multiple core updates, including the Helpful Content Update (HCU). The updates caused several websites to lose ranks, money, and even jobs. To help you navigate these changes and prepare your website for 2024, Search Engine Journal is hosting a free webinar about the 2023 Google algorithm updates. What sets this lead magnet apart is the inclusion of details about the webinar speaker and a limited-time offer, instilling a sense of urgency due to the availability of limited slots.
Shopee Piso Deals (New User Exclusive)
Shopee, a major player in the Philippines’ e-commerce scene, is enticing new users with an irresistible offer of 1-peso deals. This unique lead magnet caters to the Filipino penchant for affordable items. Shopee cleverly creates a sense of exclusivity by featuring items that appear beyond reach at such a low price—which can only be accessed by new users who sign up through their platform.
HubSpot Sales Plan Template
HubSpot is a company that provides software and services for inbound marketing, sales, and customer service. They offer helpful blogs and a wide range of downloadable ebooks and templates to showcase their expertise. In this example, they provide a free sales plan template for quickly outlining your company’s sales strategy. This lead generation magnet stands out because of its simplicity and lack of intrusive pop-ups.
Need More Leads?
With thousands of competitors, it might seem impossible for your business to stand out. However, by creating lead magnets for brands, you can capture the spotlight and make a lasting impression. If you need a hand with lead generation and digital marketing in the Philippines, Eight Media has a team of experts who can help elevate your brand. Contact us today for a FREE consultation!
