11 Tips to Create More Effective Lead Magnets

#1: Use the element of scarcity

It’s a known psychological fact — humans place a higher value on an object that is scarce, and a lower value on those that are abundant. Thus, quoting your offer as scarce helps create a sense of urgency.

#2: Focus on relevancy

It’s important to keep your offers relevant to your business and, of course, your target audience. If you’ve got a SaaS product, your offers should be on lines of free product demo, a free webinar, extended product trial etc. Similarly, the lead magnets you create must be relevant. For instance, Outgrow’s target market comprises digital marketers and agencies. Thus, most of our lead magnets talk about topics relevant to marketers — lead generation, interactive content, funnel strategy etc.

#3: Leverage the Bandwagon Effect

It’s human tendency to follow one another, and you shouldn’t miss out on using this psychological factor to promote your offer. Wherever possible, mention how many people have purchased, downloaded, signed up, or donated — this makes the offer more lucrative for your audience.

#4: Focus on creating a great title

A great offer or lead magnet with a bad title is a dud. Short, sexy, accurate, and thoughtful titles can help you crack the deal. Hubspot did a small experiment on the title of their ebook and ran an A/B test to see which title performed better. The revised version outperformed the original by776% at generating leads (first time submissions).

#5: Different offers for different buying stages

Abiding by the Holy Law of Marketing Funnel, thou must engage the customer at every stage of the buyer journey. For top of the funnel, create informational lead magnets like ebooks, guides, checklists etc. At the middle stage, product webinars can be a good idea. At end of the funnel, which is the purchase stage, a product demo or free trial works well.

#6: Avoid corporate jargon

It’s best to keep the copy for your offer promotion simple. While a professional tone is important, avoid using corporate or technical jargons. Here’s a list of words/phrases you shouldn’t use as a part of your offer or lead magnet promotion — next generation, flexible, robust, scalable, easy to use, cutting edge, ground breaking, best of breed, mission critical

#7: Offer a demo/trial version of your product

If you let people try your product/service for a certain time period, it build trusts and they are happy to leave behind their information in exchange of value. In fact, at GoToMyPC and GoToMeeting, they typically convert 40% — 45% of their trails into paying customers.

#8: Try Interactive Content

The way customers interact with brands is changing. Millennials don’t want to be sold to; they seek value. In fact, a research by Rosetta Consulting revealed that engaged customers are five times more likely to buy only from the same brand in the future. But, how do you engage them? Think interactive content.

#9: Use case studies and testimonials

Social proof goes a long way in establishing trust amongst prospects, and there’s no better way of showing it than case studies and testimonials. For Neil Patel, case studies have grown the sales by 185%. In a similar instance, VWO found out that placing testimonials on your lead generation page can improve the conversions by 50%.

#10: Host a webinar

Webinars and podcasts provide more leads, even more than gated content. In fact, you can gather more customer information through a webinar opt-in, than you would with a more top-of-the-funnel offer. Don’t believe us? Ask Neil Patel. He was able to generate 518,399 visitors and 16,394 leads from 77 webinars!

#11: Offer discount codes

According to MarketingProfs, 57% of US online shoppers who used a coupon code said that if they had not received the discount, they would not have bought the item(s). What’s more — 93% of consumers consider special promotions as an influential reason for signing up for loyalty programs. Thus, it is a good idea to offer discount codes to see increased sales.



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