Find and Attract Clients With Next-Gen Lead Generation In 2024
In an increasingly crowded and competitive market, many agencies still rely on word-of-mouth, their work, and awards to attract new business. However, depending solely on these factors is no longer enough, especially in 2024. Market dynamics have changed: fewer AORs, shrinking budgets, and longer sales cycles.
To find clients in 2024, agencies must actively seek out potential clients rather than wait for them to come. Outbound lead generation proactively engages prospects and generates a predictable pipeline of opportunities with target companies.
At our Agency Growth Summit in December 2023, Christian Banach discussed his Lead Magnet methodology. If you missed the session, here’s the full recording and the link to the full article.
Christian Banach
What Is a Lead Magnet?
A LinkedIn study, “Rethink the B2B Buyer’s Journey,” shows buyers want to hear from vendors who understand their business and offer immediate value. Demonstrate expertise and provide something useful to prospects.
Many sellers make their messages about themselves. Let's be honest: No one wants to spend 15 minutes on a sales call and PowerPoint presentation. To stand out, offer prospects something valuable that inspires them to connect. This is where a lead magnet can make all the difference.
While “lead magnet” often brings to mind e-books or cheat sheets in inbound marketing, it’s also crucial in outbound sales. A lead magnet can be an exclusive report, a private panel invite, or a free consultation offered through your outbound efforts. The idea is simple: give to get.
By offering value upfront, you build a trust-based relationship. You become an expert providing a solution, not just a salesperson. This sets you apart and positions you as an authority. Lead magnets pave the way for meaningful conversations, shifting the interaction from “Why should I talk to you?” to “When can we talk?”
“A lead magnet can be an exclusive report, a private panel invitation, or even a free consultation offered exclusively through your outbound sales efforts. The idea is simple: give to get.”
Types of Lead Magnets
Depending on your agency’s expertise and the prospect’s needs, various lead magnets can be effective. Each has its pros and cons and requires different levels of investment in time and resources to produce with varying degrees of impact. Here are three popular options:
1. Audit
What it is: A detailed analysis of a business area to pinpoint strengths and flaws.
Why it’s effective: It showcases your expertise by highlighting areas needing improvement, giving prospects a reason to choose you.
Who should use it: Firms with analytical expertise, especially in digital marketing, consulting, and accounting.
Considerations: Ensure your audit stands out with uniqueness. If generic, it may not be seen as valuable.
Impact: Low. While audits can spot problems, audits have been overused in most industries, and prospects are generally not motivated by them as a top-of-funnel lead magnet.
2. Consultation/Strategy Session
What it is: A one-on-one meeting offering personalised advice to address a prospect’s challenges.
Why it’s effective: It previews your expertise, enticing the prospect to learn more.
Who should use it: Agencies whose value proposition isn’t straightforward and/or the work is complex.
Considerations: It should be genuinely insightful, not just a sales pitch in disguise.
Impact: Medium. When done well, it can make a lasting impression and pave the way for a longer partnership.
3. Original Research
What it is: Unique and proprietary insights from studies, surveys, or data analysis, typically shared as white papers, reports, or interactive tools.
Why it’s effective: It positions your company as a thought leader, offering exclusive, actionable data that can’t be found elsewhere.
Who should use it: Agencies that undertake strategic initiatives for clients where the work is intricate and demands fresh, data-driven insights.
Considerations: The research should be well-conducted and align with both your goals and the interests of prospects. It’s essential to keep data updated and tie findings back to problems your firm can solve.
Impact: High. Well-executed original research can be a game-changer, cutting through the noise, solidifying trust, and expediting potential clients' decision-making process.
Qualities of an Effective Lead Magnet for Outbound Sales
A good lead magnet for outbound sales combines relevance, helpfulness, provocativeness, credibility, and allure. It’s not just about getting attention; it’s about keeping it and converting it into a meaningful interaction.
Relevant
An impactful lead magnet isn’t one-size-fits-all; it needs to be focused. It should address something urgent and important to your prospect. The more you can tie it to their immediate needs or pain points, the more likely they are to engage.
Helpful
The best lead magnets provide immediate value. Whether saving time, solving a problem, or offering unique insights, the goal is to help the prospect tangibly. Other forms of value could include connecting them with valuable resources, providing industry exposure, or giving exclusive access to something useful.
Provocative
An effective lead magnet challenges the status quo. It could offer a contrarian viewpoint or a unique solution to a common problem. Ask yourself: What’s something you believe that most don’t? What do you wish people knew that goes against common wisdom? Providing a fresh, possibly polarising perspective can make your lead magnet stand out.
Credible
Your lead magnet must be trustworthy. Back it up with solid research, professional execution, and credible sources like case studies or data. This establishes your authority and builds or reaffirms trust with your prospect.
Makes Audience Want More
A great lead magnet leaves the audience wanting more. It should be compelling enough to solve an immediate need and pique the prospect’s interest in what else you can offer. The goal is to lead the prospect to take the following steps with you.
Creating a Lead Magnet: A Step-by-Step Guide
How do you go about creating a lead magnet that not only attracts attention but also sets the stage for a fruitful business relationship? Download Agency Groth Book’2024 to unlock Christian’s five-step guide to developing a powerful lead magnet that turns cold prospects into warm leads.
Pick Pivotal Provlems
Select Your Target Audience
Evaluate Your Internal Resources
Develop the Content
Test and Optimise
Remember, client acquisition has evolved, and agencies need a proactive, outbound approach for 2024. Using compelling lead magnets can initiate meaningful conversations and build relationships based on trust and value. Understanding your target audience's needs and providing solutions is key to long-term success and growth.
