Lead Magnets: eBook Downloads VS Webinars
Lead magnets can be a powerful way to attract more people to your website, grow your email list, and improve your conversion rates. It has become apparent that nowadays people aren’t that willing to hand over their personal information without some value in return. So, by considering your business objectives, different lead magnets, and the pros and cons of each, you can set yourself up to get the most value out of your chosen lead magnet.
We have reviewed two of the most popular lead magnet options to give you a bit of perspective.
Comparison Table: eBooks versus Webinars
|User commitment required||None||High|
|Ability to get to know prospect’s pain points||Limited||Excellent|
|Ability to learn more on the spot||Good||Excellent|
|Ability to grow email list||Excellent (higher volume)||Excellent (better quality)|
|Building trust, authority, and loyalty||Good||Excellent|
Below, we’ll go into more detail about each section.
User commitment required
|No real commitments are required other than providing their personal information.||From the prospect’s point of view, they need to be willing to dedicate the time it will take to watch the webinar and ensure they will be available. Unless you are offering a recording of the webinar, so they can watch it on their own schedule.|
|eBooks are a downloadable item, so there are no time constraints and work hours needed once the eBook is completed.||Scaling up a webinar could be a challenge as you’ll need to dedicate more time to deliver the content more often.|
Ability to get to know prospects’ pain points
|As a static medium, there is no conversation involved with a real person. Normally, these lead magnets are downloadable through an email or on the website. You could offer an email address for them to contact you if they have any questions or feedback.||In a webinar, you have the opportunity to speak with your prospects, whether that’s in the form of a real Q&A dialogue or having a chat option open for questions.|
|Normally, there are no touch points with a human in this process, unless you add this step into your strategy e.g. send a follow-up email to see how their experience was and/or if they had any questions.||Similar to understanding prospects’ pain points, webinars offer the opportunity to be personal and create a dialogue between prospects, as well as deliver great customer service.|
Ability to learn more on the spot
|But as a static medium, the information is limited to what’s already in the eBook. So, the reader will need to reach out for more information separately.||With a speaker/presenter (who is usually supported with content/presentation), a webinar also provides an opportunity for Q&A, so the viewers can get more information on the spot.|
Ability to grow email list
|More likely to get email signups, however, volume is key here. The quality might not be as good as a webinar.||Probably fewer email signups, but can be higher-value prospects because they’re wanting to commit to a webinar.|
Building trust, authority, and loyalty
|You’ve literally written a book on the topic of interest, so this will build trust and authority.||A webinar can do this more when you have a person talking (providing they are knowledgeable and present well).|
|You can track the initial download, but never how much of the book that person read, or if they’ve chosen to send the downloaded file to anyone else.||You can track who signs up, attends, leaves, and stays.|
|As this has a lower commitment, you’ll find you get a lot more volume but poorer quality leads.
You may also find that sometimes people will download the eBook more than once, giving you a false indication of lead quantity (this can happen simply because they lost track of the downloaded file and went through the process again to get another copy).
|There’s a bit of commitment that goes into attending a webinar, so you’ll tend to find leads are higher quality.|
There’s a lot to consider when comparing these two lead magnet options. You may even choose to try both of them! If you have any questions or want to know more about how lead magnets could fit into your digital marketing strategy, let us know!
Written by Malinder Ah-chong