The vast majority of visitors to your eCommerce site will not make a purchase. Instead, they’ll probably look over your stuff for a few minutes before leaving. As a result, even if you have a lot of visitors, you are still not earning enough. That’s why you need to implement lead magnet strategies to increase your eCommerce store revenue.
Instead of losing site visitors for good, you need to find a technique to attract their attention and increase your earnings. First, you’ll require a lead magnet. Lead Magnet is just not about the features that your eCommerce store must-have, but it is more than the features.
In return for their contact information, a lead magnet provides something of value. It’s easier to convince customers to return to your page and buy stuff once you have their contact details.
Create a lead magnet that integrates the following concepts and encourages leads to take action once you’ve figured out what your audience wants and needs.
Top 5 Lead Magnet Ideas
Let’s look at several lead-magnet ideas to implement in your lead magnet strategies and how to pick one based on your target audience’s wants and values.
1. Resource List
Shoppers who are seeking technical information now have more options than they had in the past. However, having more info does not necessarily make it simpler for customers to make conclusions. Since there is so much data to go through, decision-making is more difficult. That is why resource lists are so beneficial. Before lead nurturing, the main question is what are the resources of collecting leads and how your business is managing lead resources?
Once you monitor your lead resources, you can better use them to generate more customers. Give leads everything they need in one spot to increase the likelihood of them making a purchase sooner.
Resource lists, including e-books and guidelines, educate customers. If you have many rivals, compile a list of valuable resources to condense the sorts of information that customers seek and distinguish in a highly competitive market.
2. Discount Code
When a discount is provided, the majority of customers are encouraged to purchase something. This is why lead magnets at a discount are so popular. People like to feel like they’re receiving good value for their money when they buy something.
To boost sales of slow-moving items, provide a discount. In addition, it incentivizes buyers unfamiliar with your brand to at least test your items because they are not required to pay the total price.
Offer customers a discount on their first purchase in the form of a percentage or a monetary amount. In return for the discount code, ask leads to provide their email addresses so you may continue to develop those leads. You can show Discount Code via a popup on the website but make sure to always use exit popups.
3. Survey or Quiz
Surveys and quizzes are excellent tools for learning more about your customers. Shoppers who have previously visited your site but have not made a purchase can immediately tell you why. When used in conjunction with another offer, this sort of lead magnet is quite effective. For example, provide a $20 or 10% discount to encourage customers to participate in a survey or take a quiz.
Consider employing this sort of lead magnet to gain audience insights to enhance sales if you observe that your site receives a lot of traffic. Still, conversions are low, even after making modifications to the structure, content, and CTAs.
Keep the survey or quiz brief and include it as part of the lead magnet to increase response rates. Use online quiz makers to create engaging and fun quizzes for your customers. Take advantage of survey and quiz templates for learning more about your customers.
4. E-book, Infographic, or Guide
Offering instructional materials is one approach to portray your item to answer a particular problem in your market. Educational lead magnets may be any length, depending on how much data your audience requires before they feel comfortable purchasing. For example, if you offer vitamin supplements, an infographic highlighting a few quick facts about the benefits of taking vitamins every day would convert leads more effectively than a 30-page e-book.
When you want to target people who understand and contemplate stages of the sales funnel, e-books, infographics, and guidelines perform effectively. Informational material informs these customers how your product addresses their problem because they don’t know anything about you or your items yet.
Use this style of lead magnet to provide information about a specific product or industry that your target audience is interested in.
5. Free Shipping
Free delivery is one of the finest strategies for an e-commerce business to entice customers to buy. A free delivery may be the determining element for customers in the purchase phase of the sales funnel, whether they buy from you or one of your competitors. Studies show that customers are four to five times more likely to purchase anything when free delivery is given.
If you have many customers who put items in their carts and then abandon them, this is the solution for you. Some of the desertions might be due to unexpected shipping charges. Use your lead magnet for advertising free shipping and request that customers enter their email addresses to obtain a coupon.
Set this lead magnet to show in numerous locations on your website to inform visitors that free delivery is available.
The simplest approach to get started is to develop a lead-magnet idea that fits your objectives and goals and then evaluate its effectiveness in terms of lead production. Then, make changes to your offers until you locate the one that produces the most leads. The ability to nurture your leads so that they buy something is crucial to boosting earnings.
For example, if you provide a discount, examine if a percentage discount or a monetary amount off generates more leads. Next, test the amount of the discount. Also, reducing shopping cart abandonment is key to improving eCommerce conversions and increasing revenue for the site.
If more than one lead magnet works, you can even switch between them. Updated material informs customers that you’re committed and ready to help them.