What is a lead magnet?
A lead magnet is a valuable offer or piece of content that companies use to attract potential clients and capture their contact information, such as an eBook, webinar, or free trial. This way, companies trade valuable content in exchange for permission to market to the prospect as a lead, and then nurture them through the lead funnel towards conversion.
What is the purpose of a lead magnet?
Lead magnets aim to collect opt-in information, including, but not limited to, contact information, and demographic and firmographic data, among other relevant criteria, as well as the prospect's consent to receive marketing messaging.
In return for such information, companies offer prospects relevant and valuable content that addresses their needs and pain points, which is also useful by helping to establish trust and build relationships.
Therefore, lead magnets are a prime source of TOFU leads, but also help companies gather information that supports lead qualification and market segmentation, ensuring the delivery of content and messaging most appropriate for each lead, account, or segment.
How do lead magnets work?
Pieces of content serving as lead magnets are usually gated, i.e., require the viewer to complete a lead contact form to receive access. This information is then automatically added to the company's lead database, where it is processed and destined to adequate nurturing campaigns. The most effective lead magnets are tools that encourage leads to use them multiple times, therefore further qualifying them based on this continued interest. A few examples of lead magnets are as follows:
- Webinars: A great platform for promoting debates and thought leadership, webinars attract users with their educational content, and can be offered both in live and on-demand formats.
- Whitepapers and eBooks: Best suited for in-depth explanation of complex topics, this format of content should be closely attuned to your target audience's interests to ensure its efficiency.
- Case studies: Also capable of acting as social proof, if backed by testimonials and reviews, case studies emphasize the credibility of your claims, solidifying the efficiency of your messaging.
- Free tools: Establishing the reputation of a company as a potential solution provider, free tools capable of simplifying any aspect of your prospects' workflows are often used repeatedly and shared among peers and colleagues, boosting the asset's reach.