The coronavirus pandemic has caused the entire global economy to drop and the world is looking at an economic downturn that is bigger in scope and worse in magnitude than the Great Depression.
This is an economic crisis like no other, and this does not distinguish between big or small brands, established businesses or startups. All businesses are affected. The only difference is whether your business is prepared for it or not. As early as the start of the pandemic, a lot of businesses have either laid off some of their workforce, cut down on expenses, closed off some stores, or totally ceased operations.
In order to survive this crisis and what’s coming next, it is important for businesses to start creating a game plan. A good marketing strategy may not get you the same results that you’re used to getting in the past, but it can help you stay afloat in these difficult times and prepare your business for continuous growth while everyone is folding up.
In order to keep your business going and growing despite the COVID-19 pandemic, you need a solid marketing plan with effective lead magnets that will bring true value to your campaign. You need to focus on lead magnets that actually work and are able to connect with your target market, not those that are packed with fake value.
But, What Makes a Great Lead Magnet?
A lead magnet is something that would attract your target customers or leads into your business. It can either start a conversation, give value to your customers, or initiate engagement, that would eventually lead them deeper into your sales funnel.
Now, there are different kinds of lead magnets, but not all of them work. Why? Because they don’t have the characteristics of a good lead magnet.
The best lead magnet is something that solves an urgent and specific need. Your lead magnet should focus on specific questions or issues your customers might be having, then offer solutions to handle these problems. More importantly, think about urgent needs. Most people who are searching for new content or browsing the internet are actually looking for solutions that would solve a current problem. If they see an immediate solution to their problem, they will definitely download your content or reach out to you immediately.
Another characteristic of a great lead magnet is that it is easy to implement. Why bother with something that is difficult to apply in the first place? If the user has to spend time trying to figure out your solution, he or she will just probably drop it and look elsewhere for answers that won’t give them a hard time.
In a gist, your lead magnet should:
- Provide a specific solution for a very specific audience
- Promise one big thing, not a lot of things or something vague
- Lead to a known, specific end result
- Give immediate gratification
- Guide your new lead through a pathway of belief — belief that a solution is possible and that solution was offered by you
- Have a high perceived value, not some fake dollar amount
- Be consumed in a couple of minutes
Now that we’ve broken down what makes a great lead magnet, let us look at some of the lead magnets that will definitely bring you the best results to combat the effect of the COVID-19 pandemic.
Top 5 Effective Lead Magnets
Lead magnets vary in form and content. But as a rule of thumb, stay away from ebooks. They are no longer effective and they can be difficult for your audience to consume. Can you even remember when was the last time you opened an ebook? What you need is something fast, has a huge impact, and offers real solutions.
Let’s look at the samples below.
1. Video Training
The pandemic has caused a lot of people to realize the importance of learning new skills. Whether it’s upgrading your Excel skills, learning video editing from scratch, or sharing some insights that your audience can transfer into their life, career, or business. You don’t have to put something that’s an hour long (remember: it should be something that they can consume in a couple of minutes). A 30-minute video would be a good length. You can also repurpose previous videos of training you’ve done in the past, as long as the topic is still relevant. And it doesn’t have to be a one-off session. You can do multiple sessions, depending on the topic you want to cover.
2. Swipe Files or Templates
A swipe file is a collection of templates, whether design or text, that could be used by others as a resource. It doesn’t mean that your audience can just copy and paste what you have on your swipe file. The purpose of your swipe file is to give them examples or guides they can adapt. A swipe file can be a collection of headlines, invitation designs, t-shirt templates, pitch deck, form collection, or others. It is like a blueprint that others can follow.
This is probably the easiest lead magnet to create. You can either use a Google Doc, Word document, or PDF to present your checklist. Your checklist should contain all the components required to get a specific result. But don’t make your checklist too long. That can be quite chunky to read and difficult to understand. Keep your items concise and straight to the point.
4. Action Plan
If you want a more in-depth step-by-step guide, you can provide an action plan instead. This is more detailed compared to a checklist. List down the steps to your action plan, then add a checklist for each step. You can also add a link to resources or swipe files to help your customers implement the action plan.
This is considered the most valuable lead magnet because it helps you carry your action plan. A toolkit is a set of tools, strategies, tech, and resources necessary to implement an action plan. For example, if you want to create a blog, you would need a list of the best blog platforms, best writing tools, editing programs, plug-ins for sharing, etc.
The COVID-19 pandemic has made marketers and business owners rethink their marketing strategies. It is not a time to be experimenting. What you need is something that you know will work and will bring the best results.