3 Components of a Successful Lead Magnet in 2020

August 11, 2020

When it comes to leads for expanding your business, quality over quantity is really important. Lead magnets are still one of the most effective ways to increase subscribers, collect contact information for qualified prospects, and drive conversions. 

What is a Lead Magnet?

We’ve touched on the topic of lead magnets in prior posts and the name is pretty self explanatory. 

A lead magnet is simply a tool to draw in leads for your business! In other words, a lead magnet is an incentive to get prospects or potential buyers to give you their email address, name, and other contact information in exchange for something. 

Most commonly lead magnets offer a piece of digital or downloadable content such as a whitepaper, free PDF checklist, video, ebook, report, or other offering. 

Best Lead Magnet Components for Small Businesses

In business, many professionals often talk about retaining customers and clients, building relationships, and getting referral-based business. This is what we’re talking about when we focus on seeking quality leads. 

But with so many local businesses competing online, it can be difficult to stand out. 

You want to expand your business reach, right? But doesnt it make most sense to do so in a capacity that will resonate with your ideal customer and client to begin building those relationships? 

In order to blend all aspects of your marketing strategy to get you pointed in the direction of your goals, fine-tuned and intentional lead magnets can be a great tool to use to get the results you are looking for!

But how can you best utilize this tool?

There are 3 key components to a successful lead magnet for small businesses. 

1. A Specific Targeted Audience

Who are you looking to reach? Your audience consideration is an important component to creating a successful lead magnet. Consider the demographics and interests of your audience when creating your free resource.

A successful lead magnet is always aligned with your target market’s wants and needs. 

For example if your target market is men ages 18-29 who are looking to bulk up in the gym, your lead magnet should speak directly to that specific population, not every single person in a 100 mile radius. 

2. Add Value

Once you determine WHO you’re looking for, consider how you can help them. In what ways can you add value to their life? What are your target audience’s biggest concerns and desires? How can you address them within the lead magnet?

An easy way to do this is to help them solve a problem or challenge that they are facing. 

For example, if you are a Chiropractic office looking to bring in more patients for back pain during the COVID-19 crisis, a DIY back stretch exercise lead magnet would offer a great deal of value to them. 

(And the more value you can provide, the more authority and respect you will gain from those prospects.)

Read More: 7 Free Marketing Ideas For Your Small Business

3. The Right Format & Delivery

Now that you’ve brainstormed your target audience and what information they might find useful, it’s time to consider the format that you will collect the leads as well as the format that you will  offer the information in return. 

Go back to your audience, what demographic are you working with? This can give you a great starting point. 

Maybe you want to collect emails through a pop-up window on your website in exchange for a short e-book or exclusive video series! 

This is where the fun comes in! Get creative! The better you are able to reach and resonate with your potential leads, the better. Don’t be afraid to stand out. 

There are several popular lead magnet formats, but at the end of the day, our best advice is to simply give one a try and see how well it performs. Come up with a plan and test it out.

 Be open to tweaking things and playing around with ideas, you never know what might take off! 

If you have any questions or concerns, please reach out!

3-Components-of-a-Successful-Lead-Magnet-By-The-Mug-Creative-Agency

By: The Mug Creative

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