Today almost every business has a website, and to increase their email list with potential buyers, they use lead magnets. Lead magnets can be any form of content website visitors find valuable and helpful. This can be anything from training videos, templates, webinars or eBooks.
By increasing your mailing list, this type of marketing can ultimately increase revenue for any business. But is this strictly true? This article covers the pros and cons of lead magnets and whether you need them in your business.
What are lead magnets?
Simply put, a lead magnet is a marketing tool where businesses offer a free item in order to collect contact details. This is a common tool for marketers to create sales leads.
The most common lead magnets are:
- PDF Downloads
- eBooks
- Video tutorials
- Webinars
PDF Downloads
PDF downloads are an excellent addition to a blog or case study, providing more value to the content. A PDF download includes checklists, instructions, guides, and the like. They provide information that is quick and easy to get to without losing value.
eBooks
eBooks are an excellent way to attract leads, but unless they provide exciting and unique content, they will not work long-term. There are so many eBooks today that yours has to stand out to make the lead magnet work. Besides working on strategic content it helps if you offer a physical book that people can order from your website.
Video tutorials
Video tutorials and any type of video format are excellent lead magnets because they are the future of marketing. People like to see how something is done rather than read or hear about it. Demo videos, video courses and free trials often entice users to sign up. The only downside of video tutorials is that they are time-consuming to create.
Webinars
Webinars are one of the most effective ways to acquire leads in just one event. Unlike PDF downloads or eBooks, which can get you tons of subscribers, webinars can get you leads that are a lot more responsive. With a webinar, you get the chance to interact with prospective customers and even encourage them to visit your website or make a purchase. (without being too salesy, of course).
The pros of lead magnets
Lead magnets help you build trust, authority and strong customer relationships. For example, growing your email list with potential clients can help increase revenue. When a website visitor signs up for your lead magnet and shares their contact information, this means they trust you.
It further means they are interested in what you have to offer. This way, you can build a relationship with the prospect and comfortably add them to your loyal customer list.
Furthermore, valuable lead magnets show customers that you are not just taking their money. Instead, helpful lead magnets mean that you give potential clients value. They are proof you know how to help your website visitors.
The cons of lead magnets
Some businesses complain that lead magnets are not working for them and are just wasting their time. This is because they don’t generate enough leads, and only a few of the ones they do generate become paying customers.
However, there aren’t really any disadvantages to lead magnets. Lead magnets may not generate the leads you’d like because you are using the wrong content. If this continues to be an issue, you will have to go back to the beginning and create content that has value or can solve a problem for people who don’t know your brand or business.
Final thoughts
Like with anything, the content is only as good as the company providing it. So, quality will no doubt vary. If you’re creating free resources make sure your content is valuable, exciting, helpful and original to stand out from your competitors.
We have a number free downloadable resources that can be very helpful to you and your business.
Focus on what your online audience wants to hear rather than saying what you want to say. Eventually, this will help you grow your email list, attract more potential clients and naturally, increase your revenue.
So are lead magnets a good marketing tool? Yes, by all means.