The Pitfalls of a Lead Magnet

What is a Lead Magnet?

Ever hear the term Lead Magnet and wonder what it means?

Put simply a Lead Magnet is a “content piece” or “content asset” that provides helpful information to your website visitors that allows you to convert those website visitors into potential customers or “Leads”

The goal of any content piece or lead magnet should be to provide some compelling information in return for the the website visitor completing contact details on a form like the one shown. Then once you have their contact details you can then “nurture” them until they become clients.

 

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Sounds easy doesn’t it?

The advice of most Marketing experts is that your website must offer a Lead Magnet so you can collect website visitors’ contact details  to build a prospect list. I agree, but…

“Lead magnets” are only the very first piece of the puzzle. Its great that you now have a lead – but how can you “nurture” that lead to becoming a client?

First you have to think of the process required to take someone from being a lead to becoming a client – your sales process.

The Sales Process

Hubspot describes the Sales process as having three main stages

  • Awareness where Leads have either become aware of your product or service, or they have become aware that they have a need that must be fulfilled;
  • Consideration where Leads are aware that your product or service could fulfill their need, and they are trying to determine whether you are the best fit; and
  • Decision where Leads are ready to make a purchase.
The Marketing Strategy Co - Inbound Marketing Agency

 Hubspot: The Inbound Sales Methodology

There are different types of content that are more appropriate for certain stages in the sales process than others. Knowing this will help you “nurture” your leads through these different stages of the sales process.

Awareness Stage Content Assets

Content assets  in the ‘Awareness’ stage are appropriate for that stage of the buying cycle because they help educate your lead – not on your solution, but on their need.  Some examples are:

  • Whitepapers
  • E-Books
  • Kits
  • Tip Sheets
  • Checklists
  • How to Videos
  • Educational Webinars

Consideration Stage Content Assets

Content assets in the ‘Consideration’ stage, however, speak directly to how your company can help solve their needs, bridging the gap between the educational assets and product/service information. Some examples are:

  • Product Webinars
  • Case Studies
  • Samples
  • FAQS
  • Data Sheets
  • Demo videos

Decision Stage Content Assets

Content assets in this stage require more action from the lead – actions the lead is more likely to take because they’re now more educated about their problem and why your business is a good choice for solving it. Some examples are:

  • Free trials
  • Live Demos
  • Consultations
  • Estimates and
  • Coupons/Special Offers

The wrap-up

Remember “lead magnets” are only the first stage. Before you start preparing that eBook and/or capturing contact details with a “Lead Magnet”  you need to map out your sales process and make sure you have content pieces that are going to nurture your leads into becoming clients along all three stages of the sales process, not just a lead magnet for the Awareness stage. Otherwise you may end up with lots of names in a database but not any new business.

Need some help?

If you would like learn how to map out your sales process and create new leads, customers and sales $$$$ we would love to help. Just call us 1300 676 448 or contact us  for an obligation-free discussion.

 

Kym Heffernan

Kym Heffernan

Kym works with Businesses and Professional Practices through The Marketing Strategy Company, to increase their revenues through analysing, improving and optimising their marketing and sales activities.

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