Top 9 Actionable and High-Converting Ecommerce Lead Magnet Ideas
With the average conversion rate for ecommerce stores being around 3%, thousands of your target customers might visit your website but never convert into long-term customers. This is where lead magnets come in!
Lead magnets are a great tactic to attract new customers while also rewarding the existing ones.
The more important question isn’t why you should use lead magnets, but what type of lead magnets should you use for your ecommerce business? With so many options available, it is important to choose the correct ones based on the type of customers you want to attract.
But first, let’s know more about lead magnets:
What Are Lead Magnets?
A lead magnet is a sort of incentive that marketers offer to potential purchasers in return for their contact details or email address. An effective ecommerce lead magnet transforms the appropriate individuals into long-term customers and brand advocates.
After you have obtained your customers' contact information, you can quickly nurture these connections through email or SMS marketing, increasing conversions and loyalty.
Lead magnets are an excellent technique to convert one-time visitors into loyal consumers. Let’s look at some of the high-converting lead magnet ideas for ecommerce.
Types of Lead Magnets in Ecommerce
One of the most effective strategies to enhance lead generation is to use coupons. Customers can use coupons to get discounts on purchases. The beauty of coupons is that because the amount is visible, visitors can quickly calculate how much they will save. This is a value that is immediately recognized.
Moreover, the concept of adding coupons is simple: in return for the visitor's email address, you provide a discount. Thousands of companies have increased sales with this lead generation strategy.
Tips to Create Successful Coupons:
- To make sure your visitors don't miss the deal, use strong, bold text.
- To get high conversions, keep detail requests simple and direct.
- Remember to provide a simple checkbox for email subscriptions.
- Add a compelling CTA.
Another technique is to provide customers with discounts. Free shipping, like discounts, can help you build a loyal customer base because shipping is an expense that many online buyers would prefer to avoid. It is of no use and is frequently a stumbling barrier and key contributor to cart departures.
However, keep in mind to employ a minimum order strategy. This is a common practice followed by many ecommerce businesses, and customers expect it, so it's not an unpleasant surprise. And moreover, you do not have to pay $2 for a $5 purchase.
Oka is a perfect example for you to get started on the free shipping journey. They offer new email subscribers free shipping to entice them to buy.
Who doesn't appreciate freebies? Free samples are excellent lead generators. Visitors are usually hesitant to purchase a product if they cannot try it first. Wherever and whenever possible, provide a complimentary sample of your product.
Freebies prevent cart abandonment or even encourage customers to spend more than they usually do. In short, samples are a great lead magnet since they create a lot of excitement for your visitors.
Run a Contest
You might be wondering what might encourage individuals to sign up for a contest, pay a membership fee, or purchase a product. They will do all of this since the prizes are generally enormous in comparison to the amount of money they will have to spend.
To do this for your website, simply follow these steps:
- Concentrate on your product lines' most valuable things.
- Use social media advertising and posts, email campaigns, and promotional video material to boost your promotion game.
- To increase the number of people who see your giveaway, focus on user-generated material. Instagram picture competitions are an excellent method to generate excitement for a forthcoming prize.
Quizzes are great ecommerce lead magnets since they convert effectively and attract higher-quality, more engaged subscribers. However, quizzes need some time and commitment on the side of the customer, so they're unlikely to appeal to those seeking a one-time purchase. People who take your questionnaire, on the other hand, want to engage with your brand.
Quizzes to help customers to decide which things to purchase, reducing decision paralysis and confusion. Furthermore, when clients select the appropriate product for them, refunds and exchanges will be reduced, cutting your expenditures.
People take too long to determine what to buy when there are too many options. It's much easier to pick 5 foundations from 50. With a concise shopping guide for each product category, you can help your leads overcome analysis paralysis and pick a purchase from your eCommerce site.
When it comes to shopping guides there are several things you can do, like create a help me choose section; it can include tutorials, customer testimonials, and even quizzes that can help customers to make the right choice.
Giveaway campaigns will entice visitors to provide their contact information in exchange for the opportunity to win something valuable. "Sign up for a chance to win a 50% discount on our new products," for example, would be the text of a giveaway offer.
Even though visitors have no guarantee that they will win, they will sign up if they believe there is even a remote possibility they will. Make it simple to enter and watch as the entries pour in.
You must keep your freebies consistent and ensure that the winners broadcast the fact that they received the gift. Repeat entries will be generated by social proof of winners. One of the greatest perks of holding a giveaway is that you can tailor every aspect of it. This means you may personalize your gift to make it as appealing as possible. Jysk Vin is one of the amazing examples to get inspired.
Offer Free Samples/Trials
In return for contact information or signups, product samples and free trials are commonly employed by ecommerce stores. Offering samples might help you combat cart abandonment or encourage customers to spend more than a specific amount. Samples are a great lead magnet since they create a lot of excitement for your website visitors.
One of the most effective strategies to get leads is to provide a free trial. If you're out of lead magnet ideas, this is the one to go with.
It only works if you're selling a membership site, application, or any trial products. In terms of free trials, the Crazy Egg price page is one of the greatest examples.
Implementing a loyalty program is a major undertaking for a business, and if done well, client loyalty can be a game-changer. Loyalty aids your progress. Many shops have recently taken a step toward creating their brand as a business model, which means their emphasis has switched to retaining existing consumers rather than attracting new ones.
Origins came up with a perfect loyalty program for their target audience – offering them a discount on joining the Origin Reward program instead of offering a discount on products.
In the hectic world of online buying, smart ecommerce firms understand the need for standing out and being deliberate with their marketing. This is especially true for email marketing and list-building.
As a result, it's essential to think outside the box when it comes to lead generating tactics. Concentrate your efforts on attracting and converting high-quality, long-term members. Also, implement the above-mentioned ideas to get started with effective lead magnets.
Remember, after you've created a unique lead magnet, you can't just abandon all of your new subscribers. If you want to go the extra mile, Growth Natives is always up for a call to help you craft a new strategy. Connect with our experts today at email@example.com!