Perhaps you've heard of this marketing term, but didn't really understand what it meant. Or, you know what it is but aren't sure how to get one set up for yourself. 

You're in the right place. I'm going to give you a quick overview of what a lead magnet is, and how to create one for your business and start generating more leads.

What is a lead magnet? This is a marketing term that refers to asking people to enter their information in exchange for something desirable, such as an article, ebook, coupon, or other downloadable item.

You’ve probably seen lead magnets in use before. You may have even been attracted to a lead magnet (see what I did there?). 

That webinar you signed up for online with your email, that exclusive deal you got for texting a code to a number, or that drawing you entered your name and address into. Those are all lead magnets that are using desirable content to attract you to part with your information. Or, that guide you got from us (see below) was a lead magnet.

You need an incentive to convince people to part with their valuable, carefully guarded personal information. This could be an article they want to read, an exclusive offer such as a coupon or a percentage saving, or hosting a webinar or other event that requires them to sign up.

This doesn't have to be complicated. Want to keep it simple? Try picking one of your more popular blogs or infographics, using a site like Print Friendly to turn it into a PDF, and offering that as a free download.

You might want to use a landing page to explain your offer and entice sign ups. 

If you’re hosting a webinar, some services like GoToWebinar integrate with your CRM and will add the leads for you.

If you’re offering a downloadable item like an article or coupon, you might want to set up a dedicated landing page to really optimize conversions. Read more on Why You Need a Landing Page.

- Only ask for the necessary information in your form. Too long of forms could scare away leads.

- The only action on the page should be the form you want them to fill out. Don’t let potential leads get distracted by non-relevant content or too much content.

- Keep images to a minimum. They should only help drive the lead to your form.

Once you’ve got your landing page or webinar software ready to accept submissions, start sending traffic. 

Set up an advertising campaign. Using Google Adwords, Bing Ads, Facebook Ads, or any advertising platform a) you feel comfortable using and b) your audience uses.

Need an intro to paid advertising, or a quick refresher? Read the Basics of Paid Advertising Online.

Use social media. While organic reach on social media is lower than ever, it is still worth sharing your offer on any social sites you’re active on. 

Expert Tip: Share it through your personal social media accounts for higher visibility and trust!

Send it to your mailing list. Yes, the whole point here is the gain new leads. But this is also a great way to revitalize your current mailing list. Your subscribers might also share the link (particularly if you ask them to!) with their contacts.

Put a pop up on your website. If you use any kind of marketing technology on your website, like pop ups, splash pages, or opt-in bar, this would be great content to include there (if you haven’t already made that your chosen way to sign up).

Put a link in your email signature. Odds are good that you email people all the time. This is a great chance to get them from being a one-time contact to a lead.

Now that your lead magnet is set up and you're sending traffic to it, you can make small changes to test out what works best. Perhaps you need to change your form, or the button text or color. Try different keywords in your advertising campaigns.

Expert tip: Only change one aspect of your offer at a time, (such as button text, button color, font, header, etc), to determine what helps or hurts your campaign.

I hope you now feel comfortable setting up and using a lead magnet to attract new leads. Tell me how it goes, or ask your questions or share your own lead magnet tips in the comments below!