4 Easy Lead Magnet Ideas That Function Optimally For Small Businesses

Digital Marketing, featured Posted On: Jan 19, 2022

lead magnet ideas for small businesses

An effective team with varying skill sets capable enough to produce creative and engaging content is necessary to even consider building an online presence or a mailing list. However, small businesses find themselves in a bit of a pickle with no outstanding revenue to hire a content writer, graphic designer, or publisher. So what do you do? An effective lead magnet might just do the trick. We know you’re full of questions right now.  In this article, we are going to be discussing one of the most effective and affordable forms of content marketing, which can help your secure sure-shot leads and build up a strong mailing list. Let’s get started

What Is A Lead Magnet?

A lead magnet is a piece of generated content that compels someone to sign up for your email list. It falls under the scope of content marketing and can exist in the form of a newsletter, e-book, or content that stimulates interest, targeted towards a specific industry. In whatever form they might exist, the purpose of a lead magnet is to increase email subscriptions or sign-ups.

Lead magnets contain engaging content relevant to a specific industry. This piece of content should compel the reader to sign up to a mailing list to receive content that is similar or as engaging as the one they are reading. They are frequently used by marketing firms for small businesses. The most commonly used lead magnets are the following

  • Templates from a professional in the field (you)
  • An e-book that tackles a problem in the industry.
  • Webinar Access
  • A library of resources on industry subtopics is available.
  • A  certain consultation
  • A project and investment costs calculator
  • An audiobook or audio training

It must be made clear that although blog posts can work as lead magnets and generate email signups through CTAs, we are not considering blog posts. We are stressing primarily on content that is considered part of the sales funnel. It is focused on a conversion campaign that is directly linked to a product or service. The primary goal is to convert leads into customers through content marketing campaigns. 

How Do You Assess the Worth of a Lead Magnet?

Very simply speaking, assessing the worth of a lead magnet is very straightforward. All you need to do is the following

  • How much money are you spending to acquire the lead? This is termed as CPA (cost per acquisition)
  • How useful or relevant is the lead to your potential customer?
  • Is it scalable?

It’s not rocket science. If your CPA is low and you have a useful lead magnet in your hands, you can consider it a profitable exchange. 

Judging the relevance or usefulness of the lead magnet can be judged by customer behavior. How many clicks and shares are you getting on it? Is it what you expected or less than that? Is it adding value to your customer’s journey forward? 

The scalability of a lead magnet depends on how long and to what extent it can contribute to your potential customer’s journey forward. This is the main question of all. 

Why Is it Necessary for Every Small Business to implement one Lead Magnet?

Lead magnets are an effective resource that helps you reach out to potential customers. Before moving on to their various benefits it is important to point out that mainly qualified lead generation happens at the top of the marketing funnel and the right lead can convert into increased revenue for your business. Lead magnets help you reach out to potential customers and tap those leads for future sales. Here is the list of benefits, 

  • Grow your email list. Effective e-mailers are still responsible for the most amount of conversions.  According to statistics, The ROI on email marketing is roughly $44 per dollar spent. 
  • Add depth to your list of clients
  • Allows you to increase your list of potential clients through word of mouth and sharing.

Lead magnets are categorized among the top three lead generation strategies that work effectively. It is important to track data once your lead magnets are working. Here are a few highly effective ideas to kickstart your lead campaigns. 

  • Checklists

They are the easiest to create and very effective. It provides a list of items that are used by the customer at one or more specific points of a certain activity. Although there is no direct transaction, the customer is entrusting your expertise. It is nothing short of a warm lead. Without realizing they have chosen your content as a go-to resource. This is a very effective way of turning potential customers into patrons. For example, a reputed guitar company offers a checklist of all the things you can do to maintain your guitar in humid conditions. People who are passionate about guitars and musicians would be interested in finding out about this checklist. 

  • Program plans 

Program plans are full-fledged service or product offerings to interested customers. Program plans help showcase your expertise while establishing a sense of trust in your brand. Program plans can help you build a pool of customers pretty fast. For example, a certified dietician or trainer shares a specific routine spanning over a certain period of time to lose a designated amount of weight

  • Coupons

Whether discount or perk, everyone loves coupons. They compel potential customers to try your products and services. Coupons have to be relevant to your audience and should ideally exist within a specific timeframe to help generate maximum traction. This translates directly into sales. It is also an effective way to move products that take time to sell. For example, A restaurant offers a certain percentage off on brunch spreads for couples who have their anniversaries. 

  • Introductory Consultations or Audits

This is an exchange program that allows customers to try certain services for free in exchange for their contact information or email signups. The services you’re offering should be compelling enough for the customer to want to try for free. This also gives your customer an opportunity to experience your product or service and see how it is beneficial for them. For example, a web development agency offers a free consultation to better your company’s website in exchange for your private information

Conclusion

When it comes to leads it is important to always choose the ones that are relevant to your potential customers. Having a clear idea about your audience’s interests is everything. Knowing and understanding your audience will allow you to convert potential leads into active sales. Check out our effective lead generation services today and find out how we can help you generate quality leads. 

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