B2B Marketing is characterised by long sales cycles and more considered purchases. You typically won’t sell a software solution to a multinational corporation the first time they hear of your business.
As such, the process of B2B marketing is about nurturing relationships and slowly moving the leads that you get through the sales funnel until they eventually convert. This is most effective when your business’ communications with prospects are tailored to their industry, position or interests.
But how do you find out all of that information to even get them in the funnel in the first place?
Create an effective Lead Magnet.
What is a Lead Magnet?
Even if you haven’t heard the term ‘Lead Magnet’, you’ve probably come across them in one way or another.
A Lead Magnet is something of value that you can offer a prospect in exchange for them providing you with their details and information. The most common type of Lead Magnet that you’ve likely seen online is a free guide or report that’s delivered in PDF format. However, you can only access this PDF once you’ve entered your email address.
The goal of the Lead Magnet is to maximise the number of relevant leads you are getting for your business, or a specific campaign that you are running.
Why Your Business Need a Lead Magnet
Lead Magnets make your job as a marketer easier and more effective.
Getting contact information and details from a relevant prospect is very valuable to a B2B marketer. By showing an interest in your content, the products or services you sell are likely to be relevant to them, so they are already a qualified lead. Obtaining more information about the prospect allows you to follow up with them with more relevant content that is specifically designed to move them further through the buying journey.
An effective Lead Magnet will grab the attention of your target audience and deliver something that adds real value to them. By attracting leads with an offer like this, you are immediately capturing their interest in your business and creating a positive relationship with your brand right from the start.
Different Types of Lead Magnets to Consider
Lead Magnets come in all different shapes and sizes. The most effective for your business will depend on your target customer and the products or services that you provide.
Your Lead Magnet should be targeted to address the specific prospects you want to attract. If it isn’t highly relevant to your target audience, they won’t part with their details for it. So, even if your business targets several buyer personas, each Lead Magnet should be tailored to a single one of them. The following are some excellent ideas for Lead Magnets to consider.
- Offer a ‘Content Upgrade’: This is a great way to generate more leads from your blog. If you have a well performing blog such as 6 Ways to Optimise your Google Ads Campaign, you can create a ‘content upgrade’ where you offer the readers access to an additional 5 tips by providing their email address.
- Offer a Free-Trial or Product Sample: If your business offers a service that you can deliver electronically such as a website audit or campaign proposal, you can capture leads by offering them a free sample. Another common technique, particularly for SaaS companies, is to offer a free product demo for a defined period of time.
- Offer Your Expert Advice: If you provide a service, or are perceived as an expert in your field, you could create a Lead Magnet that offers prospects a free review. Insurance brokers commonly use this type of lead magnet by offering to audit a potential client’s existing policy.
- Create a Quiz or Survey: This is a fun and creative way to generate social engagement with your brand. In addition, once a user has taken the time to answer the questions, they’re more likely to give you their email address in order to receive their results.
- Consider an Exit Intent Pop Up: An exit intent pop-up identifies when a visitor is going to leave your site and then shows a pop-up that then asks them to sign up to a newsletter or download an interesting piece of content. While this may seem frustrating for users, there’s no denying that it often works. A case study shared on Unbounce showed a 14.47% conversion rate from an exit intent pop-up, which is extremely high for website signup forms.
If you’re still not sure what exactly to offer your customers, simply choose a Lead Magnet that you are confident in creating. Remember it should be written completely with the audience in mind and offer them something of value.
One last thing … Once you have your Lead Magnet and are gathering all this useful information on your target customers, make sure you put it to good use with an effective Lead Nurturing campaign.