If you’ve been trying to build your online marketing for a while now, you may have come across the term “lead magnet”.
A lead magnet, realistically, is exactly what it sounds like. A magnet for leads.
But the way it works is quite ingenious.
You see, most people will guard their email address quite well from strangers, as they don’t want their inbox filling up with junk that they don’t find useful. Which means it can be difficult to acquire your potential customer’s information unless you can convince them that you are trustworthy.
A lead magnet is a great way around that.
You see, normally when customers make a transaction, they exchange money for something that (in their eyes) is more valuable. If it’s not more valuable, they won’t make the exchange.
A lead magnet can be used in the same way. Potential customers will give you their email address in exchange for something that they perceive as more valuable.
The trick is to create something that you can afford to give away for free, in exchange for a customer’s email address. This thing has to be easily reproducible, scalable, and valuable enough that your customers consider it a “no-brainer” to give away their email address in order to get it.
Things like checklists, short guides, a handy set of tips or ideas, or even a free trial are great lead magnets.
My tutoring business, for example, gives away a set of ten pre-written summary sheets in exchange for an email address. My customers are so keen to get a hold of those sheets that they are more than happy to give away their email address to get them. And that simple magnet has brought me hundreds of leads in the space of only 2 months.
And it took me 2 hours to put together
A lead magnet helps you to bring new leads into your business. Quickly and cheaply. There’s honestly no reason not to have at least one lead magnet published on your website. You’re just leaving money on the table if you don’t.