If your B2B marketing plan includes getting new leads, you’ve more than likely created or thought about a lead magnet. With lead magnets being the most popular online lead generation tool, here are five ideas and strategies to increase your conversion rates up and get more high-quality prospects to engage with your content.
What Is A Lead Magnet?
A lead magnet is any piece of content or promotional item that you exchange for a user’s contact information. It’s the leading form of exchange in the online lead generation world. You gain the contact information – most likely the email address and name – and the other person receives your material. In short, a lead magnet helps attract leads to your B2B business. The opt-in incentive is what tips the scale for people who are on the fence about trusting your business with their contact information. That’s why you need to include an opt-in incentive that helps to drive conversion for your B2B business.
The lead magnet should be attractively designed and provide authoritative information to entice people to give back some basic contact details in exchange for having access to such information. Sign-up forms help you identify real people who visit your website and confirm that they have some sort of interest in the product or service you offer. A well-written lead magnet will also establish your authority in the industry and reinforce brand value.
Why Do You Use A Lead Magnet?
Website visitors don’t like pop-up forms and ads that don’t provide them with any value. Unless they’re ready to buy, they’re unlikely to sign up for your newsletter or fill out your contact form. Lead magnets are used to break the ice with a new prospect. By offering a helpful, relevant piece of information, you position yourself to convert more of your website traffic to prospects.
How Are Lead Magnets Helpful To Your B2B Business?
There are two advantages of using sign-up incentives in your business. One advantage is to initiate interaction with visitors and the other is to find high-quality leads. A first-time visitor isn’t going to be a buyer right away. They will shop around and find more options to choose from. You need to leverage the initial interest of the visitor and prevent the prospect from slipping away because sooner or later, the visitor will be making a purchase. That’s where a sign-up incentive comes in handy. It’s a great way to connect with the prospective buyer by providing an ethical bribe by way of an instant download from your website. Quality freebies are a great way to connect with the prospective buyer because it helps build a sense of trust and authority in your business. This trust and authority can convert into a long-term relationship with your customer.
The second advantage of using sign-up incentives is finding high-quality leads for your B2B business. A B2B company that needs high-quality leads instead of just the quantity of leads can take advantage of a lead magnet. If you create a high-quality free offer, only the people who find some value in the offer will give you their contact information. That way you get high-quality leads for product or service you offer. Even though you may notice a slight drop in the number of potential leads, the quality of the lead is much higher. These leads are more easily converted into sales during the buying cycle. An improvement in the quality of the lead may result in a higher ROI for your B2B marketing. That’s why you need to take advantage of sign-up incentives to attract leads to your B2B business.
What Should Be Included In Your Lead Magnet?
Offering just any content for free isn’t the best way to create a high-quality lead magnet. You should offer the potential prospect only content that is relevant to your business and their needs. Whether you sell a product or service, the freebie you offer should be relevant to what you sell on your website and be of the highest quality. Getting it right the first time around is critical for the success of your efforts. There are many factors to consider when choosing a lead magnet for your business. Here are some things to look out for in a great lead magnet for your B2B business.
The perceived and actual value of the opt-in incentive should be high. It should be able to solve your prospect’s actual problems. You should understand your prospects and their pain points to prepare the best lead magnet for your business. Don’t include vague promises in your offer. You should be specific about what you have to offer and when. The offer should provide an immediate reward – even if it is small. But it should offer real value to potential customers.
The offer should also be accessible instantly. The prospect should be able to download, register, or access it immediately. If the lead magnet is a consultation, you should offer online registration for the consultation. Meeting the expectations of your customers is critically important in this regard. The freebie should provide an excellent user experience. If you offer content as a freebie, consider the readability of it. Use concise sentences and bullet points in the read. Visual content will let the reader peruse through the material more quickly and comfortably.
Choosing A Good Lead Magnet For Your Business
There are many ways of finding quality leads to grow your email list. Offering just anything won’t do any good for your B2B business. The freebie you offer needs to be carefully selected to fit your marketing campaign. A lead magnet helps to build a long-lasting relationship with your prospects. Prospects who download your freebie should feel good about it. If they don’t find any value in your freebie, no amount of lead nurturing is going to convert them. Here are some of the most important questions to ask yourself when designing a lead magnet for your B2B business:
Does The Sign-Up Incentive Get You Closer To Your Business Goal?
You shouldn’t choose any lead magnet without considering your business objectives. What kind of lead are you planning to generate using the lead magnet? Do you prefer thousands of prospects where only a tiny percent are relevant to your product or service? If not, do you want 100 high-quality leads where the majority of them are qualified to use your product or service? Are you selling a product or a service? Is the offer for high-ticket services? These variables all play into what lead magnet is correct for you.
Is Your Lead Magnet Appealing And Interesting?
The opt-in incentive should be able to spark the interest of the potential prospects so that they won’t click away or close the browser window. While the content of the lead magnet is the most important factor, great lead magnets are also designed professionally. If you’re advertising a free PDF or e-book, it should look just as professional as the service you’re offering.
Is Your Lead Magnet Worth Exchanging For An Email Address?
One important way of improving your conversions rates is to increase the value of your opt-in incentive. Although establishing the actual value of a lead magnet is quite difficult, it shouldn’t stop you from maximizing the value of what you offer. If you got something unique to offer, you are off to a good start. If you’re offering a free trial of your software or a complimentary consultation, mention the value of the offer and it can increase your conversion rates.
Components Of A Great Lead Magnet
Apart from the lead magnet itself, you need other components for the process to work effectively. here are some of the most important components of a great lead magnet.
The Landing And Thank You Page – The landing page is a specific page on your website where the opt-in incentive is described. This is the page that includes the form that potential prospectives have to fill in to obtain the offer. As mentioned before, the lead magnet needs to match the landing page and the offer. For most lead gen campaigns, we recommend directing users to a siloed page where to offer is presented. Taking users to your regular website may not lead to better conversions.
The thank-you page is what is shown after the customer fills in the required contact information. It can include a link to access the freebie, or that can be emailed through an autoresponder.
CTA Or Call To Action – The CTA helps your prospective customers to find the freebie. The CTA gives a direct link to the freebie and asks the prospective customer to download it. A great CTA is an important component to make your opt-in incentive a success.
The Autoresponder – Once a prospect fills in the form, you should send them a welcome email thanking them for taking interest in the freebie and downloading it. That’s where the autoresponder comes in handy. You can schedule the emails to go out in sequence with an autoresponder. This is important to nurture your leads in the long run. It’s the main goal of the lead generation campaign.
5 Types Of B2B Lead Magnets
1. Product Demos/Free Trials
A product demo is one of the best lead magnets for your B2B company and is popular among SaaS companies. A clear-cut walkthrough of how the product or service you offer works will help to entice more prospects to your business. Take your potential users through a demonstration experience and it will increase your opt-in rates. Adding the opt-in page adjoining the demo video will work best in this situation. If you offer a high-ticket product, the user may not resist a long pre-sale video that explains all the ins and outs of how the product works. Product demos are great for B2B companies involved in the manufacturing industry.
For Saas companies, offering free trial periods of their software is a popular and highly-effective lead magnet. One of the most successful B2B SaaS companies, Salesforce, offers free 30-day trials on their homepage.
E-books are some of the most popular opt-in incentives on the market today. The book should be well designed and contain visual components to attract more customers. Images, graphics, charts, and similar design elements are some of the best visual components to include in an e-book. E-books are mostly used by digital marketers who are looking for highly targeted leads on the internet. E-books should be evergreen, meaning your target audience will get more value from them for many years to come. You can offer an e-book as an opt-in incentive for many years without having to update it. It contains actionable information that’s quite valuable to the end-user. E-books are some of the most attractive opt-in incentives for prospective clients. According to Hubspot, e-books are used as opt-in incentives by more than 27.7% marketers today. The average e-book length according to HubSpot is 5,000 to 10,000 words.
With so many digital marketers using e-books as freebies to gather leads, your e-book should stand out from the competition. You should make it clear why the prospect needs to download your e-book. These are important things to consider when using an e-book as a lead magnet for your B2B company.
3. White Papers
White papers are the most formal opt-in incentives out there. They are in-depth reports that are persuasive and authoritative on a specific topic. When a B2B company wants to present a complex issue or target knowledgeable buyers, they rely on white papers. White papers are in-depth and longer resources targeting buyers in technical sectors. They are a great way to establish your authority on a subject. You can provide something of value to peers other than to your audience and gain more shares for your company. White papers can be evergreen at times and used for longer periods than most of the other opt-in incentives.
White papers need to be well-written and formatted similar to e-books. This can be time-consuming and expensive. B2B businesses in science and technology sectors see high rates of success using white papers as lead magnets to drive conversions to their companies. But, they aren’t for everyone. Before investing in a whitepaper, test out various offers and research other successful lead generation campaigns for your industry.
4. The Webinar
Webinars offer a lot of value in helping your B2B build a sound relationship with the customer. The ability to watch a presentation from an expert in the
industry is a great thing. If the webinar is live, the customer also gets the opportunity to ask questions from the expert. You need to make sure the webinar is more useful to the prospect than being overly promotional. No prospect would like to join a webinar only to find out he or she needs to buy a product or service.
Webinars offer high converting opportunities for your B2B company. Digital marketers, as well as marketers from different industries, take advantage of webinars to attract more clients to their businesses. Gotomeeting recently reported that webinars can boost your conversion rates by at least 73%. Webinars give you the ability to directly interact with the audience and answer their questions. This lets you showcase your authority. Once the webinar is over, you can share the recording on social media to improve brand awareness of your B2B.
Webinars require a special, strategic followup strategy to keep leads aware and interested. It’s recommended to record your webinar so you can give it on-demand to users. Live webinars are best used when there is a large partnership or sponsorship to promote the event. Unless you have a large, captive audience, live webinars can be underwhelming and time-consuming.
5. Free Consultations
A free consultation can be used as an effective lead magnet if you know the right way of doing it. But you need to understand that a free consultation can be tricky at times. You may easily end up on the phone with someone who doesn’t have the intention of hiring you but looking for free advice. That’s why you need to put a time limit on the call when you decide to offer a free consultation as a lead magnet. Let the prospect know upfront what you plan to discuss with him/her. You have the advantage of building a one-on-one relationship with the prospect with a free consultation.
Free consultations are ideal for B2B marketers who are involved in the service sector. It allows you to identify and prioritize high-quality leads. This is one of the best ways to drive conversions to your B2B when done correctly. That’s why you need to take advantage of free consultations as opt-in incentives for your business.
Free consultations are not evergreen like e-books and white papers. They need constant ongoing work to attract highly targeted leads to your business. These are some of the many opt-in incentives you can use to attract highly targeted traffic to your B2B company.
Virtually all B2B companies offer some form of free consultation. Simply saying you’ll give them advice or talk on the phone is not enough of a lead magnet because you shouldn’t charge for that anyway. Create a detailed offer with your consultation and give them something in return like a marketing plan or audit results when you’re finished.
There are many benefits of using lead magnets to attract highly targeted customers and improve your conversions over time. There are different types of opt-in incentives that you can use to drive your conversions. When you choose the best one for your company, lead magnets will help introduce new audiences to your company and qualify them so you can get more ROI on your marketing.