When it comes to promoting your business, your sales team is a big part of promoting your business. However, if you’re relying solely on outbound calls, word of mouth and personal selling, you will be losing out on an important part of the sales process.
Some tools overlooked by many companies that rely on personal selling to help prospects evaluate and decide on your product or service include white papers, sales sheets and lead magnets. Today, we’re going to discuss the basics of these tools, why they are so valuable, and how you can incorporate them into your marketing strategy.
What is a Lead Magnet?
Simply put, this is a piece of content that presents some meaningful information about you, your products and services, and inspires your prospect to take a next step, such as conducting a sales call or joining your mailing list. For the most part, it’s far too easy for a user to ignore your pleas to “sign up for our newsletter!” or to “Call Now!!! No, RIGHT NOW, PLEEEEEEEEASE!!!!” The fact is that everyone has a newsletter, email offer and people waiting by the phone. Your prospects may be wary about getting tied up with too much time invested in weeding through junk mail or trying to get off a call to submit their information.
But they might download something that ads real value to them while showcasing how your offer will serve them. In fact, the white paper, sales sheet and marketing lead magnet are all variations of the same thing: information to allay fears, provide insights and solutions, and to demonstrate what you are all about.
Overall, a lead magnet adds value and information to the sales experience. It’s what attracts leads to your brand (hence the name). With the right magnets in place, you can increase your subscriber list substantially, which can have a considerable impact on your bottom line.
Some examples of a lead magnet (which we’ll cover in more detail later on) include:
Any kind of content you can create that will build value for your lead can be considered a magnet. Just because most people use these examples doesn’t mean that you should feel compelled to follow along. Each type has its purpose, depending on your industry and what you have to offer.
The Benefits of Incorporating Lead Magnets
We’ve already touched on the value of these magnets in your marketing content, but let’s break down the top reasons why you need to invest in lead magnets.
Build a Larger Base – realistically, you will only convert about one to two percent of your audience. An audience of 10,000 users will have much more of an impact than a list of only 1,000.
Improve Your Conversion Rate – no matter where your conversion rate is right now, it can always be better. Some of the top brands in the world hover around five percent, so there’s almost a guarantee that yours is nowhere close to that. Creating a strong lead magnet can boost your percentages right out of the gate.
Become an Authority in Your Industry – consumer trust is a powerful tool for your business. When customers believe that you’re an authority within a particular industry, they will come to you, even if they’re not trying to buy. Informational lead magnets help build that trust so you can cultivate stronger consumer loyalty.
How to Create a Compelling Lead Magnet
As we mentioned, common magnets include things like whitepapers, checklists, and ultimate guides. For businesses in more technical fields, or for higher value items, the white paper is a great way to answer questions and to support the reader’s goals.
“Have I evaluated the features and options for this turbine? Am I getting the latest or best technology? Will the longevity of this technology hold up?” With a big spend, your customer will have big questions. They want to hear from your engineer, not your marketing team, even if your marketing team helps write the paper.
For process driven work – a new project management app or CRM, checklists, processes, insights and techniques can offer the tools to get new entrepreneurs up and running, or to help old school practitioners adapt to a new way.
Planning the right kind of content starts with determining who you are speaking to, and then identifying what about their current system gives them the greatest headache. Your product should be aimed at doing the things their current system is already doing well, but smooths out the problems that make their work difficult, inefficient, frustrating or costly.
Determine Your Audience’s Pain
One of the best ways to promote your brand is to focus on solving a particular problem. If you sell makeup, perhaps your customers are tired of buying products that don’t run, but that are hard to wash off off. So, you promote your business as a more convenient method of looking one’s best.
When developing a lead magnet, use pain points as a foundation for your approach. Come up with several pain points that you can use on different landing pages. Ideally, you will have multiple campaigns that address unique needs. This way, you can broaden your reach and increase your audience that much faster.
Using our makeup example, one campaign could focus on makeup that’s easy to wash off. A potential lead magnet could be a video clip showing how effortless the process is. A third could showcase a person going from day to night with three or more looks, easily updated to match their environment.
Another campaign could touch upon the fact that your makeup isn’t tested on animals (or it’s organic, etc.). For each campaign, you can create multiple touch points that reinforce the key message to specific audiences.
Make it Convenient
While it might seem like a good idea to go all-in on lead magnets, the fact is that they don’t have to be world-changing. All you’re getting in exchange is some contact information (i.e., email address, name, and possibly a phone number), so the content should be relatively simple.
Simply put, don’t waste time building a 5000-word guide as a lead magnet. Save that content for customers who already know and like your business. Overall, your magnets should be fast, informative, and easy to digest. Since your leads are still inside the sales funnel, you don’t want to shoot your shot too early. Give them enough to keep them moving forward, and save the best content for last.
Contact Green Vine Marketing Today
Building an efficient sales funnel can be a lot of work if you don’t know what you’re doing. Fortunately, our marketing team has years of experience in this area, particularly concerning lead magnets. Find out how we can upgrade your sales funnel so that you can improve your bottom line.