5 Lead Magnet Ideas to Increase Revenue in Your Ecommerce Store
The majority of people who land on your ecommerce site won’t buy anything. They’ll likely browse your for a few minutes and then leave. So even with lots of traffic, your revenue suffers.
A lead magnet promises something of value to a lead in exchange for their contact information. Once you have their contact information, it’s easier to convince leads to come back to your page and buy something.
When you figure out what your audience needs and values, create a lead magnet that incorporates the following ideas and gets leads to take action.
Let’s take a look at lead-magnet ideas and how to choose which one to use based on audience needs and values.
1. Discount Code
The majority of shoppers are motivated to buy something when they’re offered a discount. In fact, 93% of consumers say that they appreciate a good deal. This is why discount lead magnets are so popular. People want to feel like they’re getting value in the product they’re going to buy, as well as a good deal.
When to use: Offer a discount to encourage sales of products with slow sales. This encourages shoppers who aren’t familiar with your brand to at least try your products since they don’t have to pay full price.
How to use it: Offer shoppers either a percentage off or a dollar amount off of their first purchase. Ask leads to enter their email address in exchange for the discount code so that you can continue to nurture those leads.
To increase revenue, include a minimum purchase amount in the offer. In this Pickwick & Weller example, leads have to buy at least $50 worth of products in order to use the discount.
2. E-book, infographic, or guide
Studies show that 70% of shoppers buy something because it solves a problem. One way to position your product as the solution to a specific problem in your niche is to offer educational content. Depending on how much information your audience needs before they feel comfortable buying, educational lead magnets can vary in length. For example, if you sell vitamin supplements, an infographic that highlights a few fast facts about the benefits of taking vitamins every day will do more to convert leads than a 30-page e-book will.
When to use: E-books, infographics, and guides work well when your goal is to target people who are in the awareness and consideration phases of the sales funnel. These shoppers don’t know a lot about you or your products yet so informational content educates them on how your product solves their problem.
How to use: Use this type of lead magnet to offer specific product or industry information your audience is interested in. For example, if you sell organic teas, a short e-book that explains how you source ingredients, describes what your manufacturing process is, and shares behind-the-scenes images …read more
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