What are lead magnets and how do they function in digital marketing strategies?

Lead magnets are like digital treats that businesses offer to people in exchange for their contact information, usually their email address. These treats can be things like free e-books, templates, webinars, or discounts.
Lead magnets work in digital marketing to attract potential customers and create a connection with them. When someone sees a lead magnet they like, they willingly provide their email or other contact details to get it. This helps businesses gather a list of potential customers who are interested in what they offer.
For example, imagine you have a skincare business. You could offer a free guide on 'Top 10 Tips for Healthy Skin' as a lead magnet on your website. People interested in skincare would happily give you their email to download the guide. Then, you can send them emails with skincare tips, product offers, and more, turning them from just someone who stumbled upon your website to a potential customer. Lead magnets help businesses turn strangers into interested leads and, hopefully, into loyal customers.