Use a Lead Magnet to generate more business
In this wild world of marketing trends, catchphrases and buzzwords, small-business owners might lose sight of which movements and opportunities actually come with some value. One that we can very easily make a case for is a Lead Magnet, which is relatively easy to understand, create and leverage. Let’s start by defining what a Lead Magnet is.
What does ‘Lead Magnet’ mean?
A Lead Magnet is a method to persuade new prospects to provide a business with an email address or other contact information. Lead Magnets can come in many forms, ranging from a 25 percent off coupon or free product to informative content and beyond. The most important element of a Lead Magnet is its alignment with the preferences, desires and demands of the target market, and the ways in which it is communicated within a marketing program.
When business owners develop a Lead Magnet that will truly catch the eyes of their prospects and immediately prove some form of value, traffic and mailing lists can go up exponentially, especially when it is placed in the right environment. Generally speaking, Lead Magnets will be located on a company’s website, though they can be placed elsewhere, such as social media pages.
What makes a Lead Magnet effective?
Digital Marketer argued that Lead Magnets tend to perform best when they are concise, and the offer they provide are as specific as possible. According to the news provider, consumers will not generally respond well to Lead Magnets that are overly arduous and verbose – especially when the prospects are of younger generations. The source cited things like eBooks that run hundreds of pages as ones that will simply not have the desired outcome, instead turning the prospect off before even clicking.
Additionally, Digital Marketer noted that businesses should first work to identify a problem that one segment of their prospect pool experiences, then make the Lead Magnet an answer to the issue in the most direct, quick and efficient way.
How can small businesses use Lead Magnets?
Small-business owners rarely have the time or resources to develop some fantastic Lead Magnet, but this is okay. Creating a Lead Magnet and getting it into play should be a relatively speedy and low-stress endeavor. Entrepreneur magazine explained that once the company knows its customers, specifically which segment it would like to target with the Lead Magnet, it can take several different approaches to creation and deployment.
For example, the news provider stated that a template is among the most common offer that provides a consistently positive outcome. Let’s say your business offers custom greeting card printing services. You could potentially offer a free template for premium cards as your Lead Magnet, asking for the prospect’s email in return. Entrepreneur magazine mentioned that short lists of tips related to the industry, as well as educational opportunities, can also be quickly and easily developed and deployed.
Once the Lead Magnet has been decided upon, post it everywhere your prospects might be, and watch your business grow!