The internet streets are busy. It’s hard to get anyone’s attention unless you really have something they want or are specifically searching for. Just imagine Times Square in New York City times a million—that’s the internet. That’s why it’s so easy for us to just scroll through social media and Google search for hours without really connecting with anything in particular, while aimlessly wandering.
As a business owner, you have to cut through the noise and grab the attention of your ideal customers. This is typically the job of the marketing department when you work for a company, but when you start a company of your own, this like everything else is all on you. Since this is the way that almost everyone starts out, we decided to create this post to give you some guidance on how to do it along with some of the standard (yet fancy) marketing terms that you’ll need to know.
First, the attention grabber on the internet is called a lead magnet. It’s a term fit for what it does because it is something that attracts (magnetic) leads (potential customers) to your business. Think about it: How do brands get your attention? Offer something free? Offer something interesting you want to see? Offer a coupon? Well, hold on. You must know that you, as a new company, don’t have the same brand recognition as others who have been in the industry for a while and is well known for what they do. You have to build up to that. So keep in mind that what works for the incumbents (the ones in your industry who are already well known and doing quite well), won’t work for you. You have to start building your audience and community that pays attention to you. How? You do that with lead magnets which allows you to demonstrate the kind of value that your business can offer.
The attention grabber on the internet is called a lead magnet. It's a term fit for what it does because it is something that attracts (magnetic) leads (potential customers) to your business. Click To TweetWhat works for the well-known incumbents won't work for you #startups #marketing Click To Tweet
Have you ever been walking through the food court in a mall and been handed Bourbon Chicken on a toothpick by a local restaurant there? That’s their version of a lead magnet. It’s free, you can sample what they are all about, and quite frankly it draws in the majority of their new business.
That’s exactly the impact that an effective and successful lead magnet will have. It’s important to shape your own perception and not think of it as “giving away your product for free”—instead think of it as an exchange. You offer a potential customer something useful that gives them a taste of what your company can offer. In exchange, they become familiar with your business and hand over valuable contact information and data that you can use going forward.
Lead magnets are the best way to see who is interested in the product or service you offer and connect with them in an honest way. Yes, you’re providing something with the intention of getting something in return—a name, an email address—but that’s how the world works, and not just in building a business. This is called reciprocation and it’s been around since the beginning of time as it is a natural way to influence human behavior using the give and take nature we have as the foundation. Basically, people show that they like what you’re offering and they want to give you their information in exchange. This initial interaction helps you and it helps them at the same time. The information they provide at this stage provides leads for the next step of your sales funnel and that’s where email marketing becomes extremely important to your business. In fact, it becomes a significant aspect of your sales process.
But first, think about what’s going to be your version of “Bourbon Chicken” for your business?
Download our free PDF Awesome Examples of Lead Magnets to get you started on some ideas for your business.
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