One challenge for demand generation marketers is finding ways to bring in higher quality leads, particularly at a time when regulations have made it more difficult to cultivate contact information. One way to overcome this challenge is to offer something of value in exchange for such information. New survey data from GetReponse shows which type of offers – or ‘lead magnets’ – are resulting in higher conversion rates.
The survey of 790 marketers, the majority of which are solopreneurs or from small businesses, found that the largest share of respondents believe that video content (24.2%) is the type of lead magnet that has the highest conversion rate. Close behind video is written content (22.8%), followed by visual content (11.8%), providing a tool or access to something (11.8%) and monetary value (10.5%).
The data also shows there are differing opinions based on business size. Of the approximately 400 solopreneurs surveyed, a leading 28.4% share say they think video performs best, ahead of written content (20.7%). Similarly, respondents from businesses with 10-49 employees (55 respondents) believe that video (25.5%) is the best lead magnet, with written content coming in a relatively distant second (18.2%).
However, written content is the top-cited lead magnet for those representing businesses with 50-249 employees (45 respondents; 31.1% share) and 250+ employees (50 respondents; 22%).
Short-Form versus Long-Form Content
The length of content is also a factor in how well lead magnets convert. Short-form video content is perceived to have a higher conversion rate than long-form content by a full 73% share of respondents. When given multiple types to choose and select, video clips (56%), short tutorials (54%) and video samples (47%) were cited as some of the most effective types of short-form videos for lead conversion.
While only 27% of respondents say that long-form content has the higher conversion rate, 7 in 10 of these respondents chose webinars as a form of long-form video that has the highest conversion rate, a figure nearly double that of the second most popular option (online conferences, 38.3%). Similarly, respondents could select more than one type of lead magnet.
In regards to written content, while the largest share of respondents (58.6%) say that short-form has the highest conversion rate, the difference is less pronounced than with video. That said, of the short-form written content, ebook samples (55.9%), checklists (43%) and newsletters (41.9%) are thought to convert well. As for long-form written content, guides (67.2%), reports (49.2%) and whitepapers (37.7%) are believed to boast the highest conversion rates.
More information about the best lead magnets can be found here.
About the Data: Findings are based on a survey of 790 marketers fielded between March and May 2020. Solopreneurs represent 60% of respondents, with 17.6% of respondents working from companies with 2-9 employees.