How Lead Magnets Help Small Businesses Collect Data

 

Content marketing is essential to small businesses looking to grow.

Creative content is the best way to attract an audience, interest them and keep them coming back to your business.

There are so many different kinds of content you can employ though to collect data, build and nurture leads. Here, we’re going to focus on lead magnets and the crucial-yet-creative way they can help you reach out to customers.

We mentioned lead magnets last week. There are so many examples of businesses using lead magnets to grow that it’s hard to pick just one example. We’ll be exploring some of our favourites in this post and – crucially – identifying the ways they help businesses grow.

What is a lead magnet?

What it says, really; something that attracts leads like a magnet.

Content-wise, lead magnets are typically long-form or fun pieces of content that people can interact with. They can be entertaining or informative. Lead magnets, though, come with a pay-off. People can only interact with them if they part with a certain piece of information.

Lead magnets are perfect for targeting people that may already be interested in your business and who are willing to give you specific data for something you’re offering.

Common lead magnets include:

  • Vouchers
  • Guides and whitepapers
  • Interactive quizzes
  • Competitions
  • Video tutorials
  • Checklists and top tips
  • eBooks

And more. They work very well in a marketing sense, especially if you cater lead magnets for your overall strategy. It’s so important to refine your audience, discover the types of content they like, create it and make it easy for them to submit information and receive what they want.

That last part is especially important. If you ask too much of people and have them jumping through hoops to fill out forms, or the download process is especially tricky, you’re missing out on some potentially lucrative leads.

You need your content to work for you. As well as being creative and entertaining, it also needs to satisfy a purpose to help your business grow.

 

Wowcher’s entire business model is a lead-magnet paradise.

3 lead magnets currently helping capture data

 

#1 TechRadar’s Bookazine

Future Publishing’s TechRadar is currently offering an interesting lead magnet in exchange for people signing up to its TechRadar Pro programme.

The landing page is very incentive-heavy. TechRadar’s offering a ‘Start Your Own Business’ bookazine to people which is 178 pages long and retails on the shelves for £12.99.

They’re targeting tech-savvy people and SMB owners who love reading their technology advice and reviews. They want people to give information, join and contribute to their community and receive their newsletter.

The bookazine will be emailed to them, and they’ll also receive weekly tech emails, special offers and discounts. TechRadar’s bookazine is the perfect example of a lead magnet, getting people to join a service and communicating with them after it’s been received.

#2 Wowcher’s vouchers

Wowcher’s entire business model is a lead-magnet paradise. The entire company revolves around offering local vouchers, deals and discounts to people so long as they hand over some personal data.

Of course to push those deals Wowcher needs a modicum of information from the user, specifically location data and email addresses.

It’s users are emailed regular offers around industries and sectors that interest them, while it’s partner companies are able to reach out to Wowcher’s carefully-targeted and segmented database to help increase footfall to their business and make use of local data.

#3 Britannia Living’s Kitchen Competition

Britannia Living’s competition to give away a free 60cm Range Cooker has scores of people salivating on social media.

The entry rules? Simply fill out a form to enter, nothing more. Although, Britannia has been clever with its form and has angled a lot of its questions as a survey, asking people the kinds of items they would consider buying, the brands they already own and other areas of their house they would spend on.

It not only gives Britannia new, fresh leads to consider, but an overview of their target audience and what they like to buy for the kitchen, the brands they enjoy, price ranges they’re willing to spend up to and more.

 

3 lead magnets currently helping capture data

Consider the ethics

These are all different examples of creative content used to attract targeted leads, gather data and generate some excitement and interest around the brand.

They also have something key in common; privacy policies that clearly highlight how the company will handle and store the information and for what purpose.

Consider the terms and conditions on the Britannia Living competition below the opt-in box:

“Any personal data relating to the winner or any other entrants will be used solely in accordance with current [UK] data protection legislation and will not be disclosed to a third party without the entrant’s prior consent.”

Not only is Britannia able to use that information to target its own leads from the competition, but to also use that data – providing that the opt-in is checked – to use the data for other services and third-party companies that may also work with Britannia Living.

As we’ve previously mentioned, EU data laws are changing thanks to the European Commission and, Brexit or not, being clear with data collection and the terms of your lead magnets will save you a lot of potential future trouble.

Placing lead magnets in your strategy

One of the best things about lead magnets is that they can be placed at any point in your sales process to gather or nurture leads.

We talked to a travel agency recently whose sales process goes like this:

Meet customer – Get holiday request and budget – Source deals from operators – Meet with customer again and present – Customer decision process – Sale transaction – holiday – engagement when home.

Quite a lengthy sales process. A lead magnet in the right place, though, can cut out a lot of that work. For instance, magnets that promote already sourced holidays that could be introduced just before the ‘sale transaction’ part.

Again, though, content alone won’t achieve your goals. It needs to be creative, optimised, pushed socially and more to gather the right data and build your business.

To find out more about content marketing, lead magnets and ethical data collection contact the Webpresence team today to speak to a representative.