Channels and tools
A lead magnet is something useful offered in exchange for a contact detail: a guide, a calculation sheet, a diagnostic.
The value to look at is the one received by the person downloading it: material that solves a piece of their problem brings contacts who already know they have it, while generic material brings addresses nobody will call.
An example
A business-to-business supplier replaces its downloadable brochure with a spreadsheet that estimates what unworked leads cost. Whoever fills it in arrives at the phone call holding their own number, and the conversation starts one step further along.
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