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The Importance and Implementation of a Lead Magnet

lead magnet

Small businesses have quite a lot of competition. The internet provides all businesses a vehicle for reaching the masses through websites and social media. However, it also intensifies the competition. Each business, small and large is now vying for customer attention, through the same digital media methods.

Therefore, it takes some extremely pointed and ingenious marketing skills to draw the customer's attention away from your competitors. There are many ways of doing this. Putting a business’ name out there, everywhere is one way. However, advertising on a scale that makes this method effective can easily get expensive. Instead, small businesses need a clever hook, a magnet to lure customers to their website. That is where implementing a lead magnet becomes so attractive to business owners.

What is a Lead Magnet?
A lead magnet is an offer that provides potential customers with gratification, in exchange for personal information. This offer should hold a perceived value. While the best lead magnet does not cost the business anything after initial creation, it should be something customers want.

The information that can be garnered from this transaction can be as superficial or as detailed as the business wants. Of course, the easier it is for the potential customer to receive the information, the greater the response will be. For instance, if a business asks for a name and email address, people are usually forthcoming. If they are interested in the business, they will likely give this information freely. If the information required becomes more personal, people might start to think twice. Yet, this is also dependent on the perceived value of the offer.

What Constitutes as Perceived Value Content?
Perceived value content is something that they are getting, almost as a great reward for supplying their information. This should not be something simple, like a free email newsletter. It should be a content or offer that is enticing, exciting, and exclusive. Perceived value content should provide instant gratification to the customer, in the form of savings or information. Plus, it should reinforce the authority the business has in the industry. Convincing them to relinquish their email address for something that the company offers is a step towards obtaining their loyalty.

Examples of Successful Cross-Industry Lead Magnets
Depending on the industry, there are many ways to create lead magnets. However, there are a few lead magnets that superseded most industries with their usefulness.

Here are the best cross-industry lead magnets:

  • Training Videos/Webinars
  • Checklist/Cheatsheet
  • Templates
  • Trials/Samples
  • Coupons
  • eBook/Guide
  • Infographic
  • Toolkit
  • Resource List
  • Email Course
  • Free book/coaching

Regardless of the industry, a business can utilize these lead magnets to their advantage. Chances are, these offers will be successful in garnering information and subsequently business from potential customers. Thus, they are a dependable tool in the marketing of any small business.

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