If you own an eCommerce store, you’ve come to the perfect spot. This post will discuss nine different lead magnets for eCommerce.
Lead generation is critical for every eCommerce shop. It’s one of the ways companies can gain that much needed boost for their business process.
But did you know that lead generation for eCommerce sites is distinct from other types of websites?
Everything you’ve learned about lead creation might not be applicable to your eCommerce sites.
As store owners looking at lead generation strategies, you’re probably scratching your heads at where you’re going wrong.
Don’t fear, for we are here to explain some of the most effective strategies for increasing your eCommerce lead generation.
To begin with, you must realise that eCommerce customers act differently than other types of website leads. They’ll spend hours procrastinating on a purchase unless they’re given the necessary push or incentive to purchase.
This is the primary reason why other lead creation tactics will not work in this situation.
If you want to increase the number of customers that visit your eCommerce site, you must tailor your lead generation strategies to an eCommerce audience which will ultimately help you to improve sales conversion on your eCommerce store.
This is where the concept of lead magnets comes into play. What are they? Let’s find out!
An overview : Lead Magnet and why it’s important
In simple terms, a lead magnet is an incentive, a reward for a particular action. Through presenting that incentive to the potential customer, you gain access to their contact information like an email address or a phone number.
Lead magnets could be anything that sparks an interest in a lead to give you their contact information. It may take the form of a free eBook, a whitepaper report, video PDF checklist, whitepaper among other things.
For an eCommerce store, it mostly includes a variation of the things we’ve mentioned in the sections below.
When you have access to the contact information of a client, you improve your chances to bring back the customer that left your store. At its core, lead magnets are your gateway to improving conversion rates.
When it comes to marketing, we have a variety of objectives such as brand engagement, brand recognition, trust development, and increased credibility.
Apart from that, we have more real objectives such as boosting traffic, generating revenues, and growing an email list.
All of these objectives are accomplished through the use of lead magnets. This simplifies measurement because you can track the amount of downloads or any other action taken by clients.
Lead magnets are critical for a variety of reasons. They increase your eCommerce site’s exposure and linkability. Additionally, it assists you in raising awareness and earning the confidence of your clients.
You might suggest that it gives clients a chance to pause and consider whether they want to see more of your site before making a purchase.
One critical point to remember is that the greater the price tag, the more processes are required.
5 Actionable lead magnet ideas to increase revenue of your eCommerce store
#1. Offer free shipping
Free delivery could be an excellent lead magnet. This concept is comparable to providing coupons for your items. It makes customers eager to make a purchase when they’re finally at the checkout.
Think about it, no one wants to reach the checkout only to be bombarded with additional shipping fees. It feels like an additional cost that’s forced on us.
If you’ve included shipping costs on your eCommerce store, then you’re going to lose customers. Every eCommerce store owner must, therefore, make a decision.
To ship free, or not to ship free? That is the question!
For instance, Blissoma, a digital retailer of skincare items, capitalises on their customers’ aversion to free delivery to increase their email subscriber base.
Take note that their business needs that your purchase total exceeds $65 US or $125 Canadian in order to qualify for free shipping.
This is an excellent technique to prevent your lead magnet from being abused.
#2. Use coupons
Remember when we told you that eCommerce lead generation is different? It’s because of coupons. These small pieces of promotion can help improve the conversion rates of your store by a significant margin.
But why are they considered to be effective at improving lead generation? Well, your customers associate some value with it, that’s why.
For instance, suppose you’re providing a 10% discount on a $50 boxer. Your clients will instantly calculate the value of the coupon and realise that it is worth $10. They will soon join up for the email list once they know they will receive $10 for it. They will purchase the item and submit an application for the voucher.
Consider the following example:
As it’s clear from the design, it’s a promo code by the LinkedIn advertising platform. Now the value they associate with it is that it allows you to reach more people through LinkedIn’s ad program.
With that credit, you can improve your conversion rates on LinkedIn and, if things work out, it will increase your chances of using LinkedIn Ads.
#3. Simplify your checkout process
Within the eCommerce sales funnel, the checkout phase presents the final stage. As it stands, it’s also the hardest stage to optimize. Too long of a checkout and you’re looking at a possible increase in bounce rates.
As an eCommerce business, you need to keep the checkout short and sweet. Let’s discuss how, shall we?
Now, we’ve seen many eCommerce store checkouts that have prolonged forms and fields that are just a bother to deal with. A customer just wants to get the purchase over with and await his order.
If you’re facing cart abandonments at the checkout stage, you can add a lead magnet in the form of a pop-up just before a customer closes the browser tab or application.
Through this method, at the very least, you could get access to their email address through which you can send a follow up email asking them to complete a purchase.
Another thing you need to consider is whether or not you’re giving them options to purchase as a guest or a logged-in user. You should have both options present in your store.
Although, things would be much more complicated if you provide users with only a logged-in option since it would mean going through a form field once again.
What you need to do first is to get your users to register. However, you should give them the choice to remain as guests, or you risk losing revenue.
Ascertain that the remainder of the process is painless.
Consider expanding your consumers’ payment options and clearly stating your delivery policy at the start of the checkout process. Additionally, you should employ many pages with a progress bar.
#4. Use email marketing strategy
Even email marketing is regarded as a highly effective method of generating additional leads.
What you need to do is amass as many emails as possible. However, you must employ your marketing messaging intelligently. This is the critical phase in this approach.
For instance, if you’re selling a difficult product, an explanatory email may be appropriate. You should provide users with a comprehensive explanation of your product.
It employs an explanatory video due to its effectiveness.
On the other hand, if you’re selling less expensive or standard items, promo coupons are the greatest option. You may also include free delivery in your offer.
If you want to increase email collection, you must give a monetary incentive to your clients.
For instance, when you sign up for BigLots, you’ll receive $5 off your first purchase.
#5. Optimize your content and sales page for SEO
The significance of SEO is self-evident. As members of the online marketing community, we are all aware of the importance of search engine optimization in digital marketing.
If you’re writing sales-worthy content and you’re not getting leads, then you need to optimize it for SEO. Unless you do that, you’re going to wind up with content that nobody sees.
If you’re not optimizing for SEO, you need to overhaul your content marketing strategy while also ensuring that your sales copies are written to convert the customer when they land on your store.
This includes researching, identifying and implementing the right keywords and meta titles in your written content.
For instance, Getresponse excels at improving its sales copy.
With these strategies in mind, we hope that we’ve given you some insights on how to use lead magnets to improve revenues and conversion rates on your eCommerce store.
The next logical step in this process would be to take each single strategy one at a time and start applying it to your store.
We hope these actionable lead magnets information proved helpful to you. Thanks for reading.
About the Author!
Tooba is a WordPress writer at Codup, a software house and a digital marketing company that helps website to grow their business. Her main areas of interest are e-commerce, WordPress and digital marketing. She enjoys reading and writing about e-commerce and loves to educate people about it. Her work has been published in many popular websites across the internet.