Lead Magnets: What Are They & Why Can They Help Grow Your Business?

Lead magnets are a superb way to help you grow your business.

They can help you attract and serve potential customers, but also to serve current customers.

You might have heard a lot about lead magnets, but not know what they are. This needs to change. Otherwise, you’re missing out on a fantastic way to grow your business. Let’s change that…

What is a lead magnet?

Lead magnets come in lots of different forms, but, basically, a lead magnet is a piece of marketing or sales material that collects (potential) customers’ email address by providing some value in return. Often the lead magnet will be an eBook or webinar, but it could also be something such as a checklist, a template or some exclusive content. It could even be an offline lead magnet, such as a coupon.

A lead magnet can help you grow your business in several different ways:

Helps you attract more business

The clue is in the name ‘lead’. If you create something attractive, you can gather email addresses. The fact that people willingly submit these details creates scope for you to start marketing to them and gradually convert them into paying customers.

Can increase traffic to your website

Create a sharable, valuable lead magnet and you can boost the traffic to your website. Once visitors are on they, they may also browse your services and find out more about your business. Social media is one of the most effective ways of doing this and is free, of course, but you can also generate traffic to your lead magnet with a paid Google ad.

Highlights your value

Lead magnets give you the chance to present your business as experts in your field. You can choose something that you think people will find valuable and then create the lead magnet. If your lead magnet delivers the value it promises, you’ll build trust with your customer, who will start to see you as a go-to person in your field.

Makes your audience more receptive

Your lead magnet should solve a problem that your audience finds difficult or frustrating to solve. The quicker your lead magnet solves the problem, the better. If your lead magnet makes life easier for your potential customer, they’ll be more receptive to your marketing and you’ll be a step closer to the sale.

Gives you the chance to out-promote competitors

Lead magnets level the playing field. You can create a lead magnet and out-promote your competitors. It’s a question of adopting the right strategy and making good use of your resources. Present the value of your lead magnet in the right way and you can gain an edge over your competitors.

Remember that the purpose of business is to serve others and that a lead magnet isn’t just a way to serve potential customers, but also existing ones. You can provide your current clients access to a lead magnate and encourage them to offer it to their customers. This helps your client to grow and, in the long run, can help you to grow too.

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