I think I first heard the term Lead Magnet through software provider Leadpages, a company that specializes in landing pages. Lead Magnet is one of those marketing tech terms that seems to catch on within certain online communities but creates a degree of confusion for everyone else.
I had visions of physics experiments with… you guessed it, magnets.
If it’s a new term for you, no worries. You’re not alone.
The good news is that lead magnets are all over the web – so there are a lot of examples out there and you’ll recognize them (just by a different name).
What is a Lead Magnet?
In the online commerce world for your own business, a Lead Magnet is simply an extra incentive or bribe to inspire someone to join your email mailing list. In essence, it is a form of exchange. You gain someone’s contact information (e.g. email address) and the other person receives your lead magnet.
In short, a lead magnet is designed to attract leads to your mailing list and business.
If you produce helpful content through a blog or online journal, the person can also receive notification about your content through your email mailing list. As shared in this earlier post, blogging is an authentic and organic way to grow your mailing list because you are marketing your authority through content rather than through advertisements.
The lead magnet is what tips the scale for some people on the fence about trusting you with their email addresses.
What are Some Lead Magnet Types?
Here are 10 of the most common free lead magnet types in the digital world:
- Discounts (Coupons)
- Resource Guides (e.g. Checklists, Cheatsheets, Reports)
- Audio Files
- Online Assessments / Quizzes (I recommend and use Typeform)
- Video Training Files
- Software Trials
- Swipe Files (Communication Templates Used by the Business)
- Free (but Short) Consultations
- Email Autoresponder Series
7 Other Names for Lead Magnets
Lead magnets have been around since the dawn of coupons, but in the digital world, here are 7 other popular names for lead magnets:
- Sign Up or Opt-In Incentives
- Ethical Bribes
- Killer Bribes
- Irresistible Bribes
- Content Upgrades
- Free Gifts
Which Lead Magnet is the Best to Grow an Email Mailing List?
I find myself asking this question all the time.
My first response is… I’m honestly not sure.
My second response is… It probably depends on the type of the business.
For example, if a business is known for selling physical products, the logical or traditional lead magnet would be a product discount (e.g. sign up today to receive 20% off your next purchase).
But if you are operating an online business to sell digital products like courses or downloads and you’re just starting out or starting over (like me), what lead magnet works the best to grow your email mailing list?
Again, I’m not sure. But I’m eager to find out to help you.
I’m convinced some types of lead magnets perform better than others. I’ve now set up a lead magnet survey to find out.
Hope you participate! And keep attracting leads to your mailing list through your ethical bribe (ahem, lead magnet).
Hope this helps,