What is a Lead Magnet? (2020)

What is a Lead Magnet?

A lead magnet is an incentive that business owners offer prospects or potential customers in exchange for a small piece of data. It could be an email address, but more than likely today it will be a Facebook Pixel or Google Retargeting Tag.

Lead magnets offer a piece of downloadable content, such as a free PDF checklist eBook, white paper, report, video, etc.

You do, however, need to provide a compelling reason for people to download or request your lead magnet.

What Makes a Good Lead Magnet?

There are 7 things that your lead magnet should do if you want it to be irresistible:

1. Solves a meaningful problem – clients have problems, you are an expert who solves problems, therefore clients want access to the knowledge you have.

2. Quick to read/digest - Checklists and PDF guides will convert well because they can be digested and actioned quickly. Longer lead magnets, such as eBooks, may make the reader feel overwhelmed but educate them much better.

3. Perceived value - The perceived value of the lead magnet should be relatively higher than the "actual" value to produce the lead magnet. i.e. a book's perceived value might be $15 but costs only $3 to produce. Therefore the perceived value is 5x the actual value.

4. Position you as an expert - the lead magnet must deliver more than enough value to position you as the go-to expert in your field. This trust will help to convert leads in the future.

5. Promises one quick win –Don't give too many things for your prospects to do otherwise they will get overwhelmed. So, provide one thing for them to do.

6. Be specific – about the outcome you expect your prospects to get from your lead magnet. The clarity will help to encourage more downloads of your lead magnet.

7. No waiting room – don't gate the lead magnet or delay delivering it, because your prospects will move on. Automation is the key here, or pixel the user and delivers the lead magnet right away.


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