5 Ways to Create Lead Magnets for Your Small Business

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Looking to generate more leads for your small business? One of the tried-and-true methods of attracting potential customers is with a lead magnet – a value-added incentive supplied to consumers in exchange for their contact information.

The goal of any lead magnet is to maximize acquisition of warm leads that can be used to create a direct mailing promotion, preferred customer list, or other type of targeted marketing campaign directed toward clients and consumers who have shown some level of interest in your business.

Here are five ways you can create lead magnets for your small business:

Offer Information

Virtually every small business owner is a subject matter expert (SME) in their own chosen field – a ‘go-to’ person for information regarding their specific area of expertise. Consider what types of questions your customers usually ask you, and compile those ‘frequently asked questions’ (FAQ’s) into a checklist, how-to guide, or brief instructional manual that can be used as a handout in exchange for their contact information. For example, if you’re a chef, you might want to create a small printout of your favorite seasonal recipes, while an insurance broker might want to develop a checklist that drivers can keep in their vehicle for use if they get involved in an accident.

Give Away Coupons

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Consumers love coupons! You can either create a quick form that your prospects can complete in exchange for a coupon to be used on a product or service, or distribute coupons that are pre-printed with a contact form which customers need to complete in order to redeem the coupon.

If you are an accredited business with Better Business Bureau you can share coupons on your business review page. Contact your BBB Programs Department to learn how to get your coupons listed. 

If your coupon is part of a specific marketing campaign or promotion, be sure to include an expiration date, otherwise, you could wind up dealing with stale coupons months, or years, after you’ve issued them.

Create a Contest

One of the tried-and-true methods of securing leads for your business is by launching a contest. The promise of being able to win something can be a great way to entice prospects to provide their contact information.

Be sure to offer a prize that’s both perceived as being attractive to your customers and relevant to your business. Free products or services supplied directly from your company are always a sure bet, however, if that’s not feasible, look for prizes that come from other local businesses such as coffee shops, restaurants, and theatres.

Offer a Discount

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Another great lead magnet that can be used by virtually every small business is the promise of a discount in exchange for contact information from a customer. Simply create a campaign that requires customers to complete a basic form that includes their contact information. For example: “To enjoy your 20% discount on your next purchase, complete this form below.”

Free Estimates

Businesses that offer services such as home repairs, construction, cleaning and automotive maintenance can often achieve success in securing leads by offering free estimates to their prospects.

This is a common tactic used by service-orientated small businesses that have a strong online presence, as consumers are often enticed to leave their contact information in exchange for a complimentary, no-obligation estimate.

Remember that lead magnets don’t have to be lengthy, complicated, or resource-intensive to create and process. In fact, when it comes to developing a successful lead magnet, simple is best.

With an effective lead magnet, you can grow your prospect list and help boost business for your small business.

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