How to Build a Lead Magnet for Your Business

Lead generation is an ongoing process and as a business owner, you need to work on a strategy to generate qualified leads for your business. In this blog post, I will walk you through the steps for creating a lead magnet for business. I’ve implemented this for my business and I will share how it works. Read on!

Video Tutorial: Lead Magnet for Business

To create a lead magnet for your business, answer the following questions:

• WHO is your customer?
• WHAT are their pain points?
• HOW do they search for a solution?
• WHERE do they search for a solution?
• WHAT can you offer as a FREE solution?

Let’s discuss these questions and I’ll use my lead generation sales funnel as an example.

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The starting point for creating a lead magnet for business: WHO is your customer?

Targeting the right audience is most critical for the success of any lead generation and marketing campaign. And, we need to be as specific as we can when we answer this question.

It’s easy to get carried away and plan to reach a wider audience. But that would set you up for failure.

Remember that you will be competing with several other competitors. Hence, clarity will help you make the most of your marketing efforts.

Here’s how I define my target customers.

These parameters let me easily filter out prospective customers and I can reach out to a similar group of people for my research. The research is to answer the next question when creating a lead magnet for business: “What are their pain points?”

What are their pain points?

To answer this question, you can talk to some of your old or existing customers. Or, you could reach out to potential customers based on the customer persona you created in the previous step.

Do not hesitate to reach out to people, both online and offline. You will be surprised to know that many people will be willing to help only if you ask for it.

When trying to know their pain points, do not restrict your research to your product or service category. This is not about what you sell. It is about their convenience, problems and requirements.

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Example: HubSpot

The core product for HubSpot is a sales and marketing CRM. However, have a look at the free resources they offer as part of their lead generation strategy.

In the image above, there are six free resources that can be used by any business. Other than the Marketing Plan Template, none of the rest are directly related to HubSpot’s core business offering. However, each of the six address a pain point for their target customer group.

What are some pain points for your target customers? If you need help identifying some problems that you can solve for them, don’t hesitate to talk to me.

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Next Steps: How and Where do they search for a solution?

Once you have listed down one or few pain points for your target customers, find out how and where do they search for a solution.

For my customers, small business owners, tracking and monitoring sales leads was a pain point. They usually search for free or low cost CRM solutions. Here’s a snapshot of a Google search:

Search Query: Free Lead Management Template

Once I figured out how and where my target customers search for a solution, I created YouTube videos and landing pages to get free organic traffic. And, I created a free sales CRM in Excel that solves their pain point.

As you could see in the image above for the Google search results, the top two video results are for my channel and the third organic search result leads to my website.

Final Question: What can you offer as a FREE solution?

The answer to this question completes your preparation for creating a lead magnet for business.

Create and offer a free or an affordable solution. This could be an Excel template, an e-book, a presentation, a how-to guide or a video tutorial.

When your target customers come to the landing page and download the free resource, they would submit their contact details. This is how the exchange works as a lead magnet for business:

• They get a free resource to solve a business problem
• To access the free resource, they share their contact details
• You use the contact details to start a chain of communication to qualify prospects
• After qualification and engagement, you contact them for a sales pitch

The Process

Once you have identified a pain point and created a free or low cost solution, follow the following steps:

1. Create a landing page or videos on YouTube
2. Direct traffic to the landing page and videos
3. Let customers download the FREE solution and collect contact details
4. Add leads to email workflows
5. Engage them and contact them once you have qualified the leads.

This strategy works for all business categories. If you have any questions about creating a lead magnet for your business, please write in the comment below.

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