What is A Lead Magnet and How to Utilize It Well?

What is A Lead Magnet and How to Utilize It Well?


Leads are customers or prospective customers who share their personal contact information with you. They are people that provide their names and email addresses via your site or other online avenues; this helps you build your customer database and have the means to contact prospects with marketing and promotional material. Lead generation is one of the trickiest aspects of marketing; so it's important to plan your strategy well and use all the possible avenues to bring in better quality leads. One of the best ways to get more leads is to offer lead magnets to your prospects.


What is a Lead Magnet?


As the name suggests, lead magnet is something that helps you draw more leads and encourages prospects to provide information. These magnets are something you offer your prospects in exchange for their name and email address. Different businesses have different kinds of magnets so you need to create items or offer services based on your customer base and their preferences. Some of the best examples of lead magnets are:

  • Free e-books
  • Free online consultancy sessions
  • Price lists
  • Checklists
  • White papers or research papers
  • Catalogues
  • Webinars and conferences

For several years now, companies have used these lead magnets to generate a significant number of leads. It's important to ensure your leads offer benefits that will encourage people to share their information. Name and email IDs are relatively low risk so you don't have to work hard or invest too much to provide a magnet. All you need to do is choose the magnet carefully and present it well.


How to Make Your Lead Magnets Work Better?


Not all lead magnets perform well and tempt people to part with their email addresses and phone numbers. While this information is low risk, prospects will still think twice before they offer it to any brand or company. Here are four things that help you create the best lead magnets and ensure your prospects are willing to part with the information in exchange:


#1 Make Them Useful


If your lead magnet isn't useful, people won't provide their email address and names in order to access it. You need to make sure your magnets provide some sort of value to your customers. Good quality magnets help you earn the customer's trust and help improve your brand's reputation.


For example, a useful 10-point checklist with well-researched information and clearly presented data will impress your prospects. They will return to your website and share your link with their personal and professional connections. You should also make sure your lead magnets are of good quality. A whitepaper with hundreds of spelling and grammar mistakes will have a negative impact on your reputation.


#2 Solve a Problem


As mentioned before, your lead magnet should be useful. If your magnet solves a prospective customer's problem, it is useful. For example, if you provide a small, step-by-step guide on how to create promotional emails, you solve a problem for businesses that struggle with email marketing. You should also provide solutions that will solve a problem quickly as they generate more leads than solutions that take time and effort to implement.


You can create excellent leads if you study your customer base and identify their common questions and problems. For example, if you get many comments and mails regarding a certain problem, create a whitepaper that provides an effective and easy solution. This whitepaper will generate ample leads and increase customer confidence in your company and brand.


#3 Focus on Getting Quick Results


You need to make sure your lead magnets are set to provide quick results. For example, limit people's access to the lead magnet content unless they provide an email address and name. You can easily implement a two-tier system where you give your prospects partial access so they can determine if the content will be useful to them.


If they want full access to the content, they would be required to provide emails. People are more reluctant to download or access lead magnets if they don't know what they will get, so a partial access will help them and provide you a larger number of leads.


#4 Make The Magnet Unique


This is easier said than done because the Internet is already oversaturated with information. However, if you do your research, choose the right subject matter or problem, collect the relevant information, and present it in a clean and concise manner, your content will be unique and appealing. You should look at what your competitors offer and identify a vacuum or an unanswered question. That will help you choose the right content and offer something unique to your prospects.


You should also make sure your prospects can use this information easily. If the lead magnet is too difficult to use, they won't download it. For example, a 20-point guide is easier to use and more appealing than a 20-page detailed white-paper. If you keep these things in mind, you create a great lead magnet and marketing strategy.


About the Author


Ben Fewtrell is a sought-after Business Coach, Keynote Speaker and trainer who has featured in Virgin’s Inflight Magazine and Entertainment Portal, SKY Business and “Secrets of Top Business Builders Exposed”. He is also the host of the popular Business Brain Food Podcast where he interviews leading experts on anything and everything business.

1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)

Leave a Reply

Your email address will not be published. Required fields are marked *

business plan template

Get Instant Access to the Business Plan Template that has helped thousands of Business Owners in every sector plan and grow their business.

Learn More
fees and benefits

Our Programs start from as little as $10 a day making it affordable for all business types.

Learn More

Top Rated Articles

The History of Business Coaching

The Inner Series...   In order to understand the history of business coaching, it’s important to go back to t


How your company can adapt to the Digital Revolution

Over the last couple of years, technological innovation has brought about a rapid change in the customer service landsca


7 Biggest Challenges Facing Your Business

It is kind of inevitable that businesses will face challenges at different stages of their growth and development. So, p


Recently Viewed

6 Tips When buying a Business Coaching Franchise

Business Coaching is a very lucrative industry if done right. And after being in this space for a few years I can tell y


How to Overcome the Most Common Barriers to Listening Effectively in the Workplace

When it comes to communication, listening actively is a very vital aspect. In the fast-paced world we live in, most peop


How I changed my Facebook Business Page Name

I started a Facebook page for my business many years ago. I had spent thousands of dollars running ad campaigns and gain

  • Over the past 6 months the incredible team at MMP have supported us to shift our attitude towards our business & month on month our revenue is increasing to the point we will be able to employ additional staff to support our business goals long into the future. Do not regret our decision one single bit!

    • Emma Reece

  • Working with my coach has enabled me to see the areas where my business is failing. This was pretty confronting to me to be honest. MMP has the tools to improve these areas and the guidance on how to implement them.

    • Sharon Robinson

  • I have been working with Max My Profit for approx 3 years now, and over that time I have learnt a lot of things about not only what it takes to run a business, but I have also learnt things about myself. I don't believe i'd be the person or have the business I have today if it wasn't for Max My Profit and our Business Excelerator. Great team to work with if you want to take your business serious!

    • Ben Choy

  • As a new client for Max My Profit (MMP) it has taken no time at all to realise the benefits of business coaching. Despite many years of senior management experience starting a new business requires best practice systems and processes built on a solid platform of detailed planning. I look forward to the benefits of adopting the formula being shared by MMP.

    • Campbell MacLeod

  • Max My Profit Are truly awesome at what they do. They have helped me over the past 12 months to get off the tools in my business and start working on my business. I am looking forward to 2019 with enthusiasm not concern. Thanks so much.

    • Aaron Kemp

  • If you are committed to Growth the Max My Profit Team has the tools and expertise to excelerate all areas of your life. They Care, They Listen, They Understand You as an Individual first then they focus on Your business. Thank you Max My Profit my rating is a 6/5 - Kindest Regards The Mr Handyfix Team

    • Catherine Kavadas

  • The team at Max My Profit are an absolute pleasure to deal with. I love working with a team who is on top of what they are doing and have a clear view of what they are working on with you and helping ensure you get to the end goal.

    • Lauren Watts

  • I have been working with MaxMyProfit over the years and what they do for SME's in growing their business is fantastic. Also due to there knowledge and their supporting material for companies across the 5 lifestyle stages and assisting them through this process day in day out is extremely comforting as a small business owner and have referred them many businesses over the years.

    • Steve Laingy

  • Working with a business coach from MaxMyProfit has been one of the best things I have done for my business. I had several other coaches before MaxMyProfit but these guys are a step above the others. I have seen a significant increase in sales, now have a business that can run itself and the coaching program has paid for itself many times over.

    • Matthew Kitchin

  • Much more than just business coaches. There is an absolute treasure chest of business knowledge in their members site.

    • Iain Campbell

  • Max My Profit are unique as they really partner with you to develop and implement a plan that will drive success for the business. I was hesitant to proceed as previous business coaches tell you what to do and rely on you to implement.

    • Michael de Haan

  • I attended one of Max My Profits introductory events in Melbourne. Having been an accountant for almost 30 years, I was somewhat sceptical. Boy was I wrong. I not only enjoyed the presentation, but I gleaned so much from just that session.

    • Daniel Odd

  • These guys are an absolute wealth of knowledge for Small Business. The programme and support networks they have set up ensure learn more every day and can take your business from good to great. Thanks so much.

    • John Butler