Lead magnets in the crypto community: Why? What? How?
If you’re going to give it away make it worth it. 8-point checklist
In the last few years, the term lead magnet has become a bit of a buzzword. But what exactly is a lead magnet? And why is everyone making such a big deal about it?
Essentially, whenever a prospect lands on your website, your end-goal is to drive profitable action. But visitors are seldom ready to make a decision right away. They want useful and relevant resources and information. That’s where lead magnets come in.
When you use lead magnets, you give your prospects access to gated content. In return, they fill out a signup form on your site. Voila! They just joined your email list, which makes it much easier to engage with, and convert them into future buyers, through email marketing.
In this post, we’ll look at why you need a lead magnet, what kind of lead magnet to offer, and how to make sure your lead magnet meets its goal.
Why give stuff away?
You may be asking why you should develop something valuable just to give it away? You do it because a lead magnet is a piece of content that will draw in the type of leads you want to your business. It’s a way for you to identify potential customers.
The main benefit of a lead magnet is to grow your email list. Your lead magnet must, therefore, be valuable enough for a person to give you their contact details in return. Once a person has given you permission to email them, you can start to build a relationship with them. Pure gold!
What to give away?
The type of lead magnets you offer will depend on your product and on your prospects. Some good types of lead magnets for the crypto community are:
Useful and educational resources
Once you have identified a topic your audience wants more information about, develop a short, concise piece of content that educates and informs. Infographics are excellent useful and/or educational lead magnets when professional designed and presented.
Just keep content assets short and leave them wanting more. Leave them wanting more information they can only get from contacting you directly.
Cheat sheets, and checklists
Cheat sheets are popular because they save people time. They work similarly to a checklist, only cheat sheets have a more actionable nature to them.
Both cheat sheets and checklists are useful if you’re sharing tips that help readers understand complex tasks for the first time.
When developing a either cheat sheet or a checklist, remember to keep things brief and concise. With this type of content, it’s not about telling a story, it’s about getting straight to the value of your offering.
Video tutorials have been shown to boost your conversion rate as much as five times. There are technologies that make it easy to create a step-by-step video product in a matter of minutes. Tutorials help customers understand a process or see how easy it is to use your product. An excellent choice for demonstrating your technology and processes.
Webinars are another highly efficient and currently quite popular lead magnet. Regularly scheduled webinars encourage your visitors to learn more about your company, your products/services, and your business culture. Remember, avoid making it purely promotional. In fact, you must offer value before asking for commitment from your leads.
If your product is more intangible, like software, think about offering free downloadables. By offering a trial or a slimmed-down software version, you can significantly increase your conversion rate. Make sure your visitors have to opt-in before downloading your free product.
Surveys and quizzes
Depending on your audience online, surveys and quizzes can be effective. They encourage prospects to test their skills, knowledge, or attitude. You get to ask them for their contact information while entertaining them. You can also gain valuable information about your audience with clever survey/quiz questions.
How do you know your lead magnet is good? 8-point checklist
You’ve decided you need a lead magnet to build your email list. You have picked the perfect type of lead magnet for your audience. The next step is to develop an effective offering. So, what makes a lead magnet good? This checklist explains the eight criteria of a successful lead magnet:
1. It is specific
Your lead magnet must be ultra-specific to the audience you want it to engage. If your offering isn’t relevant to their wants and needs, they aren’t going to download it.
2. It focuses on one emotionally compelling idea
It is a common theme in content marketing: one emotionally compelling idea. Your lead magnet should engage your reader on an emotional level. Solve a problem - generate gratitude. Offer a useful resource that makes their job easier - build trust. Give them an engaging quiz – entertain them.
3. It will solve a problem
Successful lead magnets are focused on solving a problem for the reader. Make life for your prospects easier, better, smarter.
4. It is useful
The offering must have value – actual value. Solve a problem for your lead. Provide valuable information. Offer a demo or free trial. Make sure it is valuable enough to your audience from them to give you their email address.
5. It is actionable
Lead magnets should provide instant gratification. Solve a problem, entertain, or educate - just do it quick!
6. It is concise
Lead magnets are for quick consumption. The rule is no more than 5 minutes to experience the content. Leave them wanting more.
7. It shifts the relationship
When the reader trades their contact information for your lead magnet, they are demonstrating trust. Trust that you will value their connection. Trust that you will follow up with them.
8. It must have high perceived value
Just because you are giving something away, it shouldn’t look free. Design and formatting must look professional and of high perceived value.
If you want to build a relevant contact list and establish a relationship with your prospective customers, you need a lead magnet. Email marketing still delivers the highest ROI of any channel, so the quality and size of your contact list is extremely important.
With a lead magnet you give your prospects something they want for free. In return you get contact information to use in email campaigns. However, before creating your next lead magnet, ask yourself this question:
If you can answer that, you’ve got a great idea for a lead magnet!