Building Your Email List with Lead Magnets

Blog graphic of lead magnet for email list building by Sales & Marketing Technologies

November 24, 2020

There are a variety of ways you can build your email list like website popups, discount codes, contests, and of course, lead magnets. Creating enticing lead magnets are an effective way to generate more leads and build your email list, which you can in turn leverage to drive more conversions like purchases, consultations, demos, and more. Learn more about lead magnets and the benefits of email list building for customer acquisition and retention.

Lead Magnet Definition

A lead magnet is an offer that gives a solution to prospects in exchange for their contact information. Often, it simply asks for a name and email address but can require additional information such as a phone number, company name, job title, industry, etc. There are several reasons why lead magnets are attractive to prospects:
  • It’s perceived to offer something highly valuable (or may even be high in actual value)
  • Offers instant gratification since prospects want a solution right now
  • Demonstrates how the product or service is unique and better than others on the market
Essentially, lead magnets allow your business to create connections between prospects who aren’t familiar with your products, services, or brand. They can also help your sales team qualify prospects with a form that asks for more detailed information so they don’t waste time chasing the wrong leads.

Why Build an Email List

Email marketing offers several benefits like driving traffic to your website, increasing conversions, and generating referrals. Furthermore, it can help your business retain more customers, saving you money in the long run. According to Invesp’s Customer Acquisition Vs. Retention Costs report, attracting a new customer costs five times more than retaining an existing one. Instead, work smarter not harder with email marketing that converts leads into customers - and keeps them.

Lead Magnets for the Buyer’s Journey

How many lead magnets you should have will depend on your business and resources, but a good number to have is three total, one lead magnet for each stage of the buyer’s journey: awareness, consideration, and decision. However, your buyer’s journey may have more stages or look different, but these three stages are the basic buyer’s journey for many businesses.
The standard buyer’s journey occurs when prospects discover they have a problem (awareness), search for possible solutions (consideration), and make a purchase (decision). By creating a lead magnet for each stage, your business will be able to attract leads and build your email list wherever the prospect is in the buyer’s journey. Here are lead magnet ideas to consider for building your email list:
  • Case studies
  • Cheatsheets
  • Checklists
  • eBooks
  • Guides
  • Quizzes
  • Reports
  • Templates
  • Toolkits
  • Workbooks
  • White papers
  • Webinars
  • Videos
Whatever type of lead magnet you have, make sure that it provides real value, or else it won’t be effective at capturing leads’ emails. Also, try testing different types of lead magnets to see what performs best with your audience and tweak your strategy based on the results.

Convert Leads to Customers

Creating an enticing lead magnet will help build your email list which you can use to convert leads into repeat customers. However, a lead magnet can only be successful if it’s actually helpful to prospects. One way to develop and implement effective lead magnets for email list building is by working with an experienced digital marketing agency. Sales & Marketing Technology can help your business attract fresh leads, increase conversions, and retain more customers with our marketing automation services.
Call (407) 682-2222 or schedule online a free 30-minute strategy session to learn more!

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