Lead magnets, often seen as a not-so-great term in B2B marketing, are usually connected with not-so-honest tactics, not-so-good leads, and an old-fashioned way of doing things. This negative view comes from the common use of lead magnets that just recycle blog information quickly put into a PDF or another format. But, there’s a silver lining to this. Thanks to recent technology, it’s easier to make content and do outbound marketing. This means that the difference between a good and a great lead magnet is even more noticeable.

For lead magnets to work well, keep these three things in mind:

1. Aim them at the right people and companies.
2. Make sure they’re about what your target audience really wants or struggles with.
3. Show your product as the faster, proven, and trusted solution.

Don’t be too pushy in trying to sell, as that can turn people off. At the same time, if you’re not convincing enough, you might not get people to actually buy. Finding the right balance is key to making lead magnets that not only attract but also get the right people interested and buying.

“How valuable should it be?”

Now, let’s talk about how valuable your giveaway should be. The idea is to provide so much value that you start wondering if you should actually charge for it.

What’s not as important:

• The way it looks (like whether it’s a PDF)
• How fancy the design is (sometimes used to cover up lack of real value)
• How easy or hard it is to make

It’s a free or low-cost ebook, guide, or tool that solves a part of the problems your target audience faces. The value it offers is always way more than the price you ask for it.

It could be anything that makes your target audience’s life easier, like ebooks, templates, Google Sheet formulas, and so on. The main rule here is that it should genuinely help people.

Coming up with ideas is simple: Understand what your audience struggles with, find a straightforward and low-cost solution, and turn it into a practical tool or document.

One important thing: Always ask for something in return for your lead magnet, like an email at least. It’s a fair exchange.

Building a Super Effective Lead Magnet

The key to making your marketing really work is knowing your audience well. Here’s a simple guide to creating a powerful lead magnet:

Desire Discovery:

• My method breaks down the process of gathering useful insights from your users and customers. These insights help you create unique and convincing messages. This involves:
  • One-to-one research
  • One-to-many research
  • Analysis & pattern recognition

Knowing what your audience truly cares about makes it a breeze to come up with offers that hit the mark.

Questions to Ask:

• To get a handle on this, try answering these questions:
  • Who are the people you’re targeting?
  • What specific things do they want (beyond just money or time)?
  • Where do they usually consume content?
  • Who are their go-to sources for content?

Understanding these basics sets the foundation for a lead magnet that really connects with your audience.

Lead magnets are an offer: a valuable exchange presented to the market in return for their attention and, potentially, their investment.

Examples:

• My favourite ‘How to’ guides
• Communities 
• Templates
• Action Checklists (for example, landing page)
• Blogs

Whether it’s free or paid, your offer should be irresistible—where the benefits far outweigh any costs. Here’s what makes a no-brainer offer:

• Solves a Specific Problem: Clearly addresses a particular issue or need.
• High Perceived Value: People see it as really valuable, more than what they’re giving in return.
• Risk Reversal: Minimises the perceived risk for the person taking up the offer.
• Proof: Back it up with evidence or numbers that show it works.

For example:

❌ “Download our email marketing guide”

✅ “Join fellow marketers + 4000 others who have utilised their email list to full use and generated 200% ROI from it  after applying our email marketing framework.”

In the second example, it’s not just a guide, but a proven solution with real results, making it an offer that’s hard to resist.

Iterate and improve:

Despite thorough research, your lead magnet might not hit the mark, and that’s just a part of the process. It’s crucial to begin with a lean approach and gather feedback from the market at the earliest opportunity.

Consider this: How can we roll out our offer in a way that not only provides value but also allows us to get feedback from the market as quickly as possible? Why? Because Growth loves speed.

Consider the intention behind your leads

 Lead magnets are designed to engage buyers who may not have a strong inclination to make a purchase. Simply getting someone to download content or provide an email doesn’t necessarily mean they are ready to buy, potentially resulting in low-quality leads.

For example, templates are often low in intent due to their simplicity and sporadic use. If I download a template, it doesn’t automatically imply an interest in purchasing or qualifying for a £10,000-a-year platform.

With that said, a scoring-based system that evaluates the efficiency of your contract processes could attract buyers with higher intent. These individuals are likely already aware of the problem and may qualify as potential customers for your product.

Common Pitfalls to Steer Clear Of:

Volume Doesn’t Equal Quality: A high volume of leads doesn’t guarantee good leads. Consider the intent of the traffic you’re attracting. Will your lead magnet draw potential buyers with higher intent?

Don’t Prioritise Solutions” Focus on the problem you’re addressing; create a solution based on that, not the other way around.

Don’t Overlook Distribution: Your campaigns will only be effective if they reach the right audience. 80% of your results often come from 20% of your efforts.

Distribution has 3 Types of traffic:

• Owned Traffic:Prime real estate. This includes your existing customer base, email list, and followers.
• Controlled Traffic:In your hands, often through advertising platforms that you strategically employ.
• Uncontrolled Traffic:Emerges organically, sometimes unpredictable but can be a game-changer.

The ultimate objective? To own your traffic. When venturing into new territories with cold audiences on a large scale, the prowess of advertising (controlled traffic) often shines brightest.

Cold, warm and hot traffic:

Know that buyers are at different stages in their journey, grasping different levels of information about your business. Tweaking your message to suit these differences is the key to creating resonance.

For lead magnets, the aim is to attract people who may not know much about your company. So, don’t dive into product features or company greatness. Instead, center your focus on making your offer an obvious choice and start planting the seeds for later with a message that resonates.

Alignment of Channel and Message

The choice of marketing channels plays a crucial role in understanding traffic temperature and buyer awareness. For example, when advertising on Google, the focus is on capturing existing demand through targeted keywords with clear intent (e.g., “email marketing software”). In this scenario, lead magnets may not be as effective since the buyer is already in-market; it’s time to actively push for the sale.

On the other hand, to engage with colder audiences, push channels like LinkedIn or Meta are more effective. LinkedIn, being a B2B platform, already implies a context for product or service sales. In contrast, platforms like Instagram aren’t typically opened with the expectation of purchasing software. Choose your channels wisely to ensure your message aligns seamlessly with the audience’s mindset.

Summary

The key to effective lead magnets lies in targeting the right audience, addressing their specific needs, and showing the product as a reliable solution. The content emphasises the importance of not being overly pushy, finding the right balance, and ensuring the value provided exceeds the perceived cost.

When creating lead magnets, the focus should be on solving problems for the target audience, with less emphasis on the format or design. The offer should be valuable, with a high perceived value, risk reversal, and evidence of effectiveness. Examples of lead magnets include guides, communities, templates, checklists, and blogs.

The process involves discovering the desires of the audience through research, asking pertinent questions, and understanding where they consume content. It’s crucial to iterate and improve based on feedback, considering the intent behind leads and avoiding common pitfalls like prioritising solutions over problems.

Distribution of lead magnets involves owned, controlled, and uncontrolled traffic, with the ultimate goal of owning the traffic. Differentiating between cold, warm, and hot traffic is essential, and aligning the marketing channel with the message helps capture the audience’s attention effectively. The content advises against overlooking distribution, as 80% of results often come from 20% of efforts.