What is a Lead Magnet?
A lead magnet is simply a free item or service used to entice potential customers into giving you their contact information. In order to receive the lead magnet, the customer must provide their information first. Once this information is obtained, it can be used to create new opportunities and sales leads for your business. Lead magnets can take on many forms, including but not limited to:
- Free Shipping
- Contests, Giveaways, Lottery Entry
- Free Gift or Samples with Purchase
- Shopping Guides
- Reports and Guides
Why is Having a Lead Magnet Important for my eCommerce Business & Website?
Lead magnets can be beneficial for any type of business, but can be especially effective in the eCommerce industry for a few reasons.
Lead magnets can help to create new sales leads and opportunities for your business. This is important because more leads ultimately means more conversions.
Build an Email Subscriber List
Having a lead magnet will allow you to build a strong list of subscribers for your email marketing campaigns. A larger subscriber list also means increased conversions and higher brand awareness for your business.
Improve Customer Loyalty
Having a lead magnet also increases customer loyalty. By offering something of value to your customers for free, you will establish yourself as a generous and credible knowledge source in their eyes. Your business’s reputation will be improved, and you may even increase customer satisfaction if your lead magnet is relevant and helpful.
How to Create a Lead Magnet
There are a few crucial steps in creating an effective lead magnet for any business. In order to work properly, the lead magnet must target the correct audience, be relevant and helpful to customers, and make information capture as painless as possible.
- Identify Your Target Market: In this step, you want to be as specific as possible. The goal is to identify a group whose problem your business can easily solve and provide value to.
- Decide on a Topic: This step is where you should decide on what problem your lead magnet will be solving for your customers. The lead magnet should ideally offer a solution to potential customers’ needs while simultaneously making them realize that they need your business’s services.
- Pick a Type: The type of lead magnet you choose should be relevant to your business, and ultimately should provide your potential customers with the most value. For example, if you have an eCommerce business, coupons, free shipping, and shopping guides will likely make better lead magnets than an eBook or a template as they will provide the most value to your customers.
- Make and Brand Your Lead Magnet: No matter what type of lead magnet you choose to create, make sure that it includes your business’s name, logo, branding, and contact information for customers to easily get in touch with you. Be sure to also create a sense of urgency with your lead magnet, as this will help convert potential customers into your future customers.
- Launch Your Campaign: Once your lead magnet has been created, it’s time to attach it to the advertising platform and campaign of your choice. Customers will then be able to easily provide you with their information in exchange for your lead magnet.
- Contact Bytes.co for Help: As always, Bytes.co is here to help. Our digital marketing team is well versed in lead generation for eCommerce businesses, and would be happy to answer any questions you may have related to lead magnet creation and more. Feel free to reach out and schedule a free website consultation with us at a time that is most convenient for you.
More Things to Think About. . .
With the holiday season fast approaching, it’s crucial that your eCommerce website is prepared for the sudden surge in sales. To help, we’ve put together a list of the twelve most important things for eCommerce websites to have in order to smoothly navigate this exciting and chaotic time of year.