Most businesses work on the assumption that the only way to generate leads is to offer products or services for sale. However, that is not true.
Generating leads and boosting sales is the foundation of success for any business. However, from a customer’s point of view, a business that offers freebies is more appealing than its competitors.
Therefore, businesses can leverage this aspect of customer psychology to generate leads, grab the attention of potential customers, and boost sales.
While it may seem counterproductive (after all, giving things away for free doesn’t seem like the best way to increase profits) when businesses give something for free, lead generation improves.
We’ve covered some important aspects of how to generate leads with the help of freebies and promotions below!
Best Proven Lead Generation Tips
Generating leads requires having effective lead magnets for potential customers.
Here are some characteristics of lead magnet characteristics to keep in mind when undertaking lead generation activities:
- Offer a solution to a problem, no matter how small, and try to be as comprehensive as possible without giving away all your trade secrets. This will help position you as a knowledgeable expert and encourage leads to trust your expertise.
- Don’t keep your audience waiting. Ensure that the lead magnet can be instantly accessed. If leads have to wait for your freebie, it loses its appeal or value and becomes redundant.
- Lead magnets are subjective from one business to another and must, therefore, be relevant and consistent with your industry. For example, if you have a clothing business, your lead magnet should be related to clothing, not makeup as these are two different categories.
- Ensure that your lead magnet adds value to the customer. Offering something random can send across a bad message, and customers may be confused by your tactic.
Aside from these aspects, there are also other important lead generation tips to keep in mind to ensure that your lead magnet is effective:
Simple To Implement
Regardless of the lead magnet you choose, it should be something that is easy and straightforward for the customer to access and use.
The idea is to not only offer a solution to a problem but to simplify the process. Therefore, whatever your lead magnet is, it should be something that a user can refer to as a quick way to understand and solve their concerns.
For example, a short tutorial, a 10-minute crash course, a quick checklist, an abridged report, or a free instant-use template. All of these are great lead magnets as they offer bite-sized, easy-to-digest content that addresses the concern of the lead.
They allow a viewer to quickly understand a “problem,” learn how to solve it, and apply the knowledge without wasting much time or effort.
This makes your lead magnet effective in terms of convincing the viewer that your skills, knowledge, and overall expertise are highly valuable and worth investing in.
Message Reinforces Branding
For a lead magnet to generate tangible results and improve conversion rates, it should have a message that is relevant and consistent with your overall business or brand identity.
Offering a freebie that pertains to your business is a great way to showcase your expertise and adds value for your customer while further enhancing your brand’s message.
Therefore, always ensure that when you’re trying to give something for free, its message should align with your business, brand, or organization.
For example, if you run an accounting agency, a lead magnet about general economics is pointless, even though the two seem connected. Instead, focus on your niche and use a lead magnet that informs clients about things connected to accounting such as “why do taxes differ across states?”
This is a relevant topic and adheres to your company’s message and niche. Therefore, it is a more effective lead magnet.
High Quality
High-quality products attract customers and help with retention while positively impacting other important metrics such as customer satisfaction, customer loyalty, referrals, etc.
However, offering superior quality products or services shouldn’t just depend on whether or not you’re being paid. While you definitely should withhold your primary products and services for paying clients, it is important that you don’t neglect the freebies that you’re offering.
Often, customers judge your business based on their experience with a freebie. Having a poor-quality freebie makes it an ineffective lead magnet and a waste of time.
Offering a high-quality magnet will make customers see your business as something worth noting. It will offer them a peek into your knowledge, expertise, and overall value as a business which can help you gain their trust and business.
Quality is something you cannot compromise on in any aspect of a business, especially where lead generation through freebies is concerned!
Using Freebies
Freebies usually refer to products that are offered in addition to a customer’s order. They are an incentive for them to make a purchase.
You can offer all kinds of freebies depending on what your business is. This may include a free product from your range, a free tutorial, a free list of suggestions, etc.
The general idea is to offer customers a free product or free curated information that will add value and incentivize them to make a purchase.
Giving Coupons
Coupons can technically count as “freebies,” especially if you offer them to customers before they’ve made a purchase. In any case, they’re extremely effective lead magnets.
They’re a mutually beneficial tactic that helps businesses generate leads and sales without losing out on profits. Meanwhile, customers get a sense of satisfaction from receiving additional benefits out of your sale.
You can offer all kinds of coupons depending on your business model and industry:
- Discount coupons for specific products on your website
- Free shipping coupons for purchases that meet a certain amount
- Coupons that can be redeemed for a discounted or free service, or consultation during a limited period
- A trial period coupon that offers customers a certain number of free sessions to experience your service
- Referral coupon codes that give users discounts or other benefits
Examples of Lead Magnets for Businesses
Freebies that are directly added to a customer’s first order or coupon codes that offer discounts and free services are the most popular lead magnets but they’re not the only ones. Here are other popular and effective lead magnets to improve lead generation:
eBooks
Writing an eBook may seem daunting, but it’s a one-time investment that will offer you major returns and is well worth the effort.
Offering a free eBook to potential customers is a great way to make your business seem legit while piquing their curiosity and adding value.
You can write a short eBook that acts as an infographic or “crash course” about your field or industry. This is a great lead magnet as it will attract clients who are curious about your business and encourage them to interact with you further so that you can market your business.
If your product does not “lend itself” to creating a free book, a blog is an excellent option. It’s the best way for today’s businesses to offer free information to their customers.
In return, anyone who enters because of the attractive information you provide will be curious to learn more about your business and may hire you.
Free Trials
No matter what your business is, offering customers a free trial period is always a great idea for a lead magnet. This is an enticing way for customers to gauge your business and ensure that it is the right fit for them.
Free trials can help build brand awareness and interest. They can also impress clients and convince them to purchase or sign up for a subscription.
If you can accomplish this, the fact that they were offered a free trial may be enough to cement your business in the customer’s good graces permanently, thereby also promoting brand loyalty.
Free trials are generally mutually beneficial since you can offer limited services or products to get a customer interested. Once they are using what you’re offering for free, they will be more likely to become paying customers who will utilize your full range of products or services.
Discounted Consultations
Consultations can be especially useful lead magnets in certain industries such as education, fitness, medicine, etc.
These allow you to personally interact with potential customers and understand their unique requirements and desires. The insights you gain can be invaluable in understanding your audience and formulating an effective marketing strategy.
For customers, free or discounted consultations are extremely appealing. They reduce the risk of wasting money on consultations, only to find that the services or skills on offer are unsatisfactory or incompatible with their needs.
Offering a free consultation improves the chances that a potential customer will choose your business over another. This gives you an upper hand and can be an effective way to convince them to become paying customers by giving them a glimpse of your skills and expertise firsthand.
Conclusion
Understanding how lead generation works and how to leverage lead magnets entails a learning curve which takes time. While it’s not rocket science, it can be a major undertaking when you already have a business to run.
With the right assistance, you can focus on what really matters — running your business and big-picture success. Save precious time and effort by partnering with Kala Agency, a business-to-business organic growth marketing agency. With our digital tools, innovative approach, and knowledgeable experts, we can help you optimize your lead magnets for maximum results!
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