There is almost no end to the amount of lead magnets you can choose from.
But you might be wondering, what is the best lead magnet for you and your business?
This article will help you decide the best kind of lead magnet for you and your business if your goal is to get:
- More warm leads
- More quality sales appointments
- More clients (your ideal types of clients!)
You can see the video version of this article here:
What is a lead magnet?
A lead magnet is typically some kind of free content that you give someone in return for their contact info, such as their name and email address.
Once you have their name and email, you can send them follow-up emails to build more trust and get them to convert into an appointment or a client.
Lead Magnet Meaning: In other words, a lead magnet is a way for business owners and marketers to attract leads by offering some kind of free educational content in exchange for the prospects contact details (such as their name and email).
Best Lead Magnet Ideas
You have many options for creating lead magnets. Some popular lead magnet ideas include:
- Webinars (automated or live)
- Free guides
- Value Videos
- Video sales letters
- Animated Videos
Because there are so many different types of lead magnet ideas, it can be overwhelming when deciding what to spend your time, money and resources on when creating a lead magnet!
You don’t want to put all this work in creating a lead magnet for for nothing.
And if you create the wrong type of lead magnet (one that doesn’t work well in generating leads for your target audience) then you can end up wasting a lot of time and money.
Is there a better way?
First let’s consider what a high converting lead magnet needs to have…
What is the most effective lead magnet?
If you want to create a great lead magnet, it it need to do TWO things:
1. Build trust with leads
2. Get leads to take action
For example, if you’re a financial advisor generating leads, your lead magnet must build trust by explaining how you can help them solve a big problem they have.
You can do this by explaining why your solution is better than other solutions. Then if they like your solution, they can click on a button to go to the next step (which is typically to book a sales appointment).
If you’re looking to get accounting leads, digital marketing leads or leads for any other types of industry, it works EXACTLY the same way.
Every business needs an effective lead magnet that builds trust with leads and gets leads to take action and go to the next step in your sales process.
So, the question you need to ask is…
What is the best lead magnet to build trust and get sales?
Well, most lead magnets can be put into two main categories:
- Written lead magnets (ebooks, pdf guides, physical books, etc)
- Video lead magnets (webinars, video sales letters, animated videos, etc)
So, let’s look at both of these types of lead magnets and see what would be the perfect lead magnet to generate leads, build trust and convert leads into sales appointments and clients.
By the way… To see an example of the primary lead magnet I use in my own business CLICK HERE!
Option 1: Written Lead Magnets
Written lead magnets are free guides, PDFs, checklists, ebooks, physical books, etc.
Do written lead magnets (ebooks, pdf guides, etc) build trust?
Yes, written lead magnets can absolutely build trust.
But there’s a big problem with written lead magnets…
They ONLY build trust if people READ the lead magnets.
If they don’t read it, it won’t build any trust.
It doesn’t matter whether you’re giving them a free guide, a short guide, or a whole book.
If leads don’t read or consume the content, you won’t be able to build any trust.
Do YOU read written content?
Think about it: How many times have you bought a book that you really wanted to read but for whatever reason just haven’t gotten around to it yet?
Sure, you might be one of the few people that DO prefer to read (rather than watch), but the majority of people these days are not avid readers.
“Wait a second…” – I hear you say!
“Aren’t I reading this article on this web page right now? Doesn’t that mean that written content DOES work?”
Yes, that is true. You ARE reading this article right now.
But are you really going to read everything on this article? Again, you might be one of the few that does.
But the reality, is most people who read this article are NOT going to read everything on this page. They’re going to skim through the headings and look for the key points that are most relevant to them.
Do ebooks, articles and pdf guide lead magnets still work?
People can and do still read written content (just like you’re reading this right now), but when you compare it to video content… Video in most cases has 2-5x or more engagement.
So yes, ebooks, articles, pdf guides, checklists, etc, can all work well. But video can work better.
In other words, if you replace your written lead magnets with video content, chances are you’ll build more trust because people are more likely to consume the video content (when compared to written content on its own).
Do ebooks, articles and pdf guide lead magnets get conversions?
It all depends on whether your leads actually read the written content. If they do, written content can convert very well. But if they don’t read it, what are the chances are someone will go to the NEXT step in your sales process? Very low.
Again, that’s not to say written content doesn’t work.
It’s just that (in general) video content will convert better.
Lead Magnet Example: Free Book Funnel with ClickFunnels by Russel Brunson
One of the most popular types of written lead magnets are book funnels (this can be a digital or a physical book). And this was largely made popular by the very successful “Free book + shipping” funnel by Russell Brunson.
So, will a free book + shipping funnel work for you too?
Like all things in marketing you’d need to test it, but I see no reason why it wouldn’t work.
However the question you need to ask yourself is: would a video work even better?
Sure, Russel Brunson uses a BOOK funnel… But he also uses a a video sales letter and webinar funnel to great success.
Another thing to consider with book funnels
Most people in marketing already know what ClickFunnels is and who Russel Brunson is, so he’s already built up a large amount of trust with people.
So when he gives away free written content (such as a book), it’s much easier to get people to consume that content since he’s already established as being trustworthy.
But if people don’t know who you are and if this is the first time they’re hearing about you, getting them to consume written content is more difficult (especially if it’s a huge book!).
So just because a popular marketing influencer uses this option, doesn’t mean you’ll get exactly the same results.
So, if you’re just a normal business person (like me) without millions of followers, let’s take a look at the second option…
Option 2: Video Lead Magnets
You can do a quick Google search on video content and you’ll see lots of statistics that show video content gets a lot more engagement than written content.
Video content also allows you to build trust much quicker.
There’s just something different about communication with someone over video when they can see you or at least hear you vs just reading something you wrote.
So without a doubt video does an excellent job at building trust with potential clients.
But, what about the second thing to look for in a lead magnet, getting people to take action?
Does a lead magnet get people to convert?
Yes, a video lead magnet such as a video sales letter or a webinar is a lot more effective at getting leads to convert into sales.
If people consume the content, you build up trust. So as long as you explain HOW you can help them and why you’re better than other alternative options, logically they will want to learn more your solution.
To learn more about what to say in this video to maximize conversions and how to get people watching the video in the first place, be sure to watch my free training here.
So, now that you see that video content is the best way to build trust and get people to take action, you might be wondering…
What is the best type of video lead magnet?
Well, it really depends on your goal.
If your goal is to get more sales appointments, then your best option is going to be to create a short video – which I call the Video Sales Letter.
See also: How to create a video sales letter (VSL)
What is a VSL? A VSL is typically a short video that explains how you actually help your potential client and why your solution is better than alternative ones.
At the end of the VSL you can say something like: “If you want to learn about [my solution], click the button below this video to schedule a call.”
Simple as that.
If your goal is to get more sales online (without a sales appointment), then I recommend doing a longer video – 30 to 60 minutes long – that goes into a lot more detail about how you can help them.
Then you can give them an offer at the end to learn more.
But how does a VSL convert compared to a webinar?
Webinar vs VSL: Which Lead Magnet Gets More Leads?
When it comes to generating leads, both a VSL and a webinar can get the same results.
This is because the format of the video is usually irrelevant when generating leads.
With lead generation, your conversion rate is mostly dependent on how well your message resonates with your target audience.
In other words, the bigger the problem you solve for potential clients, the more leads you’ll get. And the better you communicate this message, the better your lead magnet will convert.
Tip: When communicating the problem you solve for clients, try to be as specific as possible with the outcome. For example, “How to get 10, 15, 30 or more predictable sales appointments each month” is much better than “How to get more sales appointments”. The more specific you are, the better your offer will convert. I’ve tested it MANY times!
Webinar vs VSL: Which lead magnet best converts leads into sales?
Many years back, everyone would say that a webinar always converts best. But this is no longer true. We’ve entered the age of on-demand content.
People no longer want to watch a video at a specific day and time. They want to watch the video NOW.
A VSL in most cases allows you to do this. A webinar does not.
So, in most cases a VSL will convert better because more people will show up to watch it.
It’s kind of like comparing TV to online streaming services like Netflix, Hulu, Disney+, YouTube etc. Both TV and streaming services still work.
But which one works better?
Well statistics indicate that on-demand video streaming services work better.
With your webinar and VSL it’s the same thing. Chances are higher that your on-demand video will convert better than a webinar where people have to wait for a certain day or time before they can watch it.
Did you know: A VSL comes from a long-form written sales letter. Over 15 years ago, Marketers tested explaining everything on a written sales letter page through a video instead. They found that the video converted a lot better! And that’s how the video sales letter was born. The VSL has changed a lot since then, but the concept behind it (generate and convert leads) is still exactly the same.
Are webinars dead?
No, webinars are not dead. Webinars can still convert very well. However, if you split test webinars with on-demand video (such as a VSL), a VSL will most likely convert better (assuming the content is the same on both) because people can watch it right now instead of wait.
This is what I’ve found in my own split testing. And I’ve had many clients who have used a webinar originally and replaced it with a VSL and got much better results.
Many large marketers are also starting to move to the VSL format instead of using webinars.
If you’re not sure what converts better: test both and see the results for yourself.
Tip: The MOST important thing with a video lead magnet is NOT whether it’s a VSL or webinar. It’s the content in the video itself. So a webinar with good content, will always convert better than a VSL with bad content. Likewise, a VSL with good content will always convert better than a webinar with bad content.
Automated vs Live webinars: Which is best?
The most important thing in a webinar is the content itself, not whether the webinar is automated or live. That being said, an automated webinar does have some advantages in that it takes up less time.
However, the advantage of a live webinar is that you can respond back to any questions people ask in the chat box.
My favorite option IF you are going to do a webinar is to use a hybrid semi-live webinar.
What are hybrid semi-live webinars?
Hybrid semi-live webinars are webinars that play a pre-recorded video with a live chat box.
This gives you the best of both worlds. It allows you to answer questions that potential clients ask in the chat box, while saving you time because the video is pre-recorded.
Because I prefer to use video sales letters instead of webinars, I have a part in the VSL where I say if anyone has any questions they can go to my website and click on the chat box (bottom right) that pops up.
How do you create a lead magnet?
Here’s how you can create your own video sales letter or webinar lead magnet:
Step 1: Figure out what is the big problem you solve for clients
Be specific with the problem you solve! How to do this is found in Week 1 of my lead gen training program.
This first step is critical to getting results. If you don’t effectively communicate HOW you solve a big painful problem for your clients, then the lead magnet will never convert.
Step 2: Create & record a presentation that explains how you solve this problem for clients
The presentation needs to include the problem you solve for clients, what are some common or alternative solutions to solving this problem and (the most important part) why your solution is better than those other solutions.
Then tell leads if they want to learn more about your solution to click on the button below the video to schedule a call (or go to the next step in your sales process).
Step 3: Put the video in a sales funnel
Before someone watches the video, they need to give you their name and email so you can generate a lead.
This can be done by putting your video in a lead generation funnel behind an opt-in page.
In other words, potential customers can only access the video IF they give you their name & email first.
Step 4. Promote the video
Now that you have the video in a sales funnel, you can start promoting it using channels such as LinkedIn, Google SEO, YouTube SEO and/or Facebook ads.
If you’d like to learn how to do this in more detail, check out step 4 of my free training.
Step 5. Follow up with leads
Some leads who watch the video will convert straight away, but most will not. To get a successful return on investment from your lead magnet, it’s critical to follow up with your leads each week with additional helpful content.
I do this for clients using Kartra – but you can do this with any marketing automation tool you like.
Step 5. Test and refine the lead magnet
After a few months, take a look at your video lead magnet stats. How many people are watching the video and converting into paying customers? Are there parts of the video where people are dropping out? Have you got any feedback about the video from potential clients? Keep making tweaks and improvements to your video over time and you’ll keep getting better results.
Short term vs long term results from lead magnets
A great lead magnet designed to get you both short term and long term results.
- Short term results are the leads that consume that content and take action straight away
- Long term results are lead that consume that content and take action later on
What’s good about a video lead magnet is that you get the best of both worlds… short term and long term results.
You get people who want to work with you NOW taking action.
And if they don’t take action right away, because you have their email address, you can keep following up with them with trust building content until the time is right for them to take action.
To see an example of both the short and long video lead magnet and what this looks like, you can just have a look at the one I created here.
Lead Magnet Examples
You can see an example of what a successful marketing funnel with a video sales letter lead magnet looks like by clicking here. This will take you through a real life example of a lead magnet that is already converting well.
Other lead magnet examples include:
- PDF Guides
- Digital books
- PDF Guides
Keep in mind I’ve tested ALL of those lead magnet ideas and the video sales letter is the lead magnet that has converted the best for my own business and for clients.
The video sales letter lead magnet works particular well if your goal is to collect leads that are high quality and convert quickly. Other lead magnets can generate leads but the conversion speed is very slow.
What are some good lead magnets?
There are dozens of lead magnet ideas that you can choose from. The best lead magnet examples are lead magnets that contain video content, such as webinars and video sales letters. This is because lead magnets with video content will build trust quicker, are more engaging and have a higher chances of getting leads to convert into sales appointments and clients.
Are lead magnets effective?
Yes, lead magnets are very effective at both generating leads and getting leads to convert into clients. However, it’s important to choose the right lead magnet if you want to get the best results from your digital marketing campaign. If you use a good lead magnet, you will be able to grow your business much faster compared to using traditional marketing channels.
How do you choose a lead magnet?
To choose a lead magnet you need to decide what type of lead magnet will help you both generate the most leads and convert the most leads into clients. In most cases,
What are the best lead magnet ideas?
Here are the five most effective lead magnets (from best to worst):
- Video sales letter (educational video)
- Webinar (educational video)
- Free sample (free demo, free trials, etc)
- Book (physical or digital)
- Free Guide (eBook)
A bad lead magnet is offering “free consultations”. It’s difficult to get leads to book a consultation unless you have provided high actual value first. So make sure your lead magnet provides value first and then offer free consultations after.
How are lead magnets used?
Lead magnets are used for lead generation. The best lead magnets will also be a valuable resource for your leads by providing helpful educational content. Great lead magnets will also help convert leads into clients.
What is the best lead magnet strategy?
A good lead magnet strategy that generates leads is to:
- Have an opt-in page to capture their contact details
- Create a lead magnet video (VSL or webinar)
- Promote the lead magnet (with organic search traffic, paid ads, linkedin outreach, etc)
- Follow up with leads from your lead magnet until they convert into clients
Tip: If you write a blog post for your website you can repurpose it into a lead magnet and helpful content for your follow up emails.
Where should a lead magnet be placed?
For best results, the most popular lead magnets are placed in a marketing funnel, behind an opt-in page. By doing it this way, you can collect email addresses which can be used to grow your leads and subscribers.
You should then link to your lead magnet in as many places as possible including:
- Your website
- Popular blog posts
- Social media channels
- Landing pages on your website
- Paid ads
Can you have multiple lead magnets?
Yes, you can use multiple lead magnets. But for best results, it’s better to focus on creating one really good lead magnet, rather than lots of average lead magnets.
What is the best type of lead magnet?
In most cases, any type of video content is going to be the best type of lead magnet for your business. Many marketers have found that a video sales letter is the most effective lead magnet for business owners.
Can I outsource lead magnet creation?
Yes, if you’d like us to create your lead magnet for you, we have a done-for-you marketing option where we can do everything for you (which includes lead magnet creation).
Ashley Davis (or ‘Ash’ for short) is the CEO & Founder of Skyline Social. For over 15 years, he has been helping business owners with lead generation. Ash specializes in helping businesses get high-quality leads, appointments and clients each month in an automated, scalable and profitable way. You can watch his free Masterclass training to learn more.