Looking to build your email list? Lead magnets are an effective marketing strategy that can help grow your email list while giving your new subscribers something in return.
Despite the myriad of options for digital communication, email remains the golden standard for business communication. In fact, an email statistics report by The Radicati Group indicated that there are 3.9 billion users currently using email and that number is anticipated to grow to 4.48 billion by 2024.
With billions of people available via email, it begs the questions: why isn’t my email list overflowing with subscribers? If you want to grow the number of people who will be reading your next newsletter, then it’s time to incentivize your business’s valuable content.
Here’s the good news: you can leverage your digital content to grow your email list. An effective lead magnet uses your company’s resources to tempt online users to become email subscribers.
What Is A Lead Magnet?
A lead magnet is a valuable resource (eg. digital download, video) that an online user can access by providing their contact details (eg. email, name, phone).
How Do Lead Magnets Generate Sales?
Lead magnets use the Principle of Reciprocity, which is a strong psychological effect where we feel obligated to repay those we feel indebted to. In other words, if a website gives me a free resource, I feel obligated to give them something in return. Conveniently, I can fulfil my debt for a lead magnet by sharing my contact information and becoming an email subscriber.
Whenever a website user subscribes to your email list, that user is identified as a sales lead. Now that they’re an email subscriber, this new lead can be reached regularly through direct follow-up emails or email marketing campaigns. With repeated contact, it becomes more likely that this lead will become a paying client.
Read below for three ways your company can use lead magnets to generate sales leads.
1. The Case Study Lead Magnet
Case studies allow your business to share valuable insight about your successful strategies. Not only do case studies shed a positive light on your business, but they also show that you’re willing to help others learn from your professional triumphs.
To begin, this case study by Leadpages establishes trust and authority by sharing Amber Renae’s story of success and 9-step sales funnel. Note that Step Two of her sales funnel recommends using a lead magnet or as Renae calls them an “irresistible freebie.” By sharing this valuable information, the user is tempted to implement her sales strategies by downloading her “Freedom Funnel”.
When the user clicks to download the Funnel Map, they are prompted to submit their email address. This gated approach demonstrates how case studies can incentivize their content to convert website users into email subscribers.
2. The Checklist Lead Magnet
The Printmaker System by Swift Galleries builds their email list by offering a free checklist to professional photographers. A designated checklist landing page outlines the content and benefits of implementing their ultimate “Less Work, Bigger Sales” checklist. When a user accesses this landing page, two things are immediately apparent.
- The main benefit of the checklist: bigger sales with less work
- Who the checklist is for: pro photographers
By dedicating an entire landing page to this lead magnet, Swift Galleries can use various strategies, such as client testimonials, to communicate the value of their free checklist.
As a user scrolls down the landing page, they’ll scroll past four yellow Call-To-Action (CTA) buttons that urge them to download the pro photography checklist. If a user clicks any of these CTA buttons, then a pop-up prompts them to share their name and email to receive the free checklist. This tactic gives the user multiple opportunities to follow through with the desired conversion.
3. The Complete Guide Lead Magnet
Complete Guides are an all-inclusive overview of a specific topic. Because these guides are a long-form and content-rich resource, they are easily perceived as high value. Search Engine Journal (SEJ) capitalizes on the perceived value of their Complete SEO Guide by promoting it as a lead magnet.
This is a unique lead magnet example because this guide is available in both a gated and ungated format. By providing their first name, last name, and email, users can gain access to the gated download of SEJ’s SEO Guide. However, if a user scrolls down the landing page, they can access the 18 chapters of the guide as independent webpages.
SEJ allows this resource to be available as ungated information, but the guide is so long that it’s unlikely a user would read all 18 chapters in one sitting. For the added convenience, the user is tempted to download the guide to read at their leisure. This innovative approach enables Search Engine Journal to take advantage of the benefits of both gated and ungated content. That is, enticing users to convert for your comprehensive guide and establishing trust by sharing ungated information.
How To Distribute A Lead Magnet?
There are multiple ways in which your business can distribute your lead magnet to potential leads:
1. Use Digital Advertisements To Share Your Lead Magnet
Intrigue potential customers with your valuable resource through digital advertisements. Here’s an example of how Shopifyplus used their remarketing ads to promote their lead magnet resource.
When a user clicks the ad to access the Global Ecommerce Guide, they are directed to a designated landing page where they can read more information about the guide.
A lead magnet is ideal for remarketing ads because your audience is already aware of your brand. By offering a free resource, Shopifyplus is building further trust with their sales leads in exchange for another point of contact, their email address. For large business to business sales, this approach makes sense. It allows Shopifyplus to promote their brand and build rapport with their leads as they progress through the research portion of the buyer’s journey.
2. Use Your Lead Magnet To Target Website Traffic
Turn your website traffic into email subscribers by promoting your lead magnet on your site. Again, Shopifyplus tempts users to join their mailing list by strategically placing the lead magnet among their published blog articles.
Additionally, a lead magnet pop-up appears when a user scrolls through an article.
For a less disruptive approach, consider building an email contact form into your webpage. An enticing call-to-action will encourage your website visitors to share their personal information in exchange for your lead magnet.
Interested in implementing a lead magnet for your business? Contact the Navigator team and we’ll help identify content marketing opportunities and ways to promote!