What Is a Lead Magnet and How It Can Help Your Business

The eCommerce boom inspired many to start their online business in the past two years. Although many experts consider this a prudent move because of lesser competition, you still have a tough road ahead.

Your first challenge is how to convert leads into paying customers. Marketing specialists say that the average conversion rate is at 3 percent. It equates to thirty paying customers for every 1000 leads. 

You might be disappointed to hear this, but you should not fret! This article will help you overcome this challenge. All you need to do is to finish reading this piece.

What Is a Lead Magnet?

Marketing specialists recommend utilizing lead magnets, but you might ask what this is. It is a freebie that a person gets for sharing their contact information. It can be an e-book, report, video, or webinar presentation.

For instance, you can advertise a free e-book to help customers in your niche grow their business. When they sign up, they will get a link for the e-book and can download it for free.

A lead magnet also helps you to gather your customer's contact details. Through the e-book, you will collect their names, email addresses, and contact numbers. It will be helpful when reaching out to these people in the future.

When you have a lead magnet, your landing page design should be responsive because it allows you to convert the visitors into subscribers. You will also have the chance to customize the page according to your audience.

What Is a Good Lead Magnet for eCommerce?

It is challenging to come up with a lead magnet for eCommerce. However, you should have a free tool or free e-book that will help them improve their business in the eCommerce niche.

You need to choose your lead magnet carefully because not all of them work. Some will work well with one niche but not with another, so you need the expertise of a white label agency to guide you in this process. There is something that you need to keep in mind if you want the magnet to be appealing.

It should be related to your brand. For example, you are an e-commerce clothing store, your e-book should be fashion-related. Make sure to provide valuable tips and let your voice be heard.

You need to prove that you are concerned about your customers. Instead of giving them fashion tips, you can also advise them on ethics and business etiquette. If you have a corporate look, you can speak about how you can improve your company's image. Here are a few samples:

1. Coupon: If you are an e-commerce store, this is an excellent lead magnet to gain a high conversion rate. You can offer a coupon code or discount for your product or service. You have to find the right one to help them enjoy the most significant discount possible.
   
2. Offer Free Shipping: If your store offers free shipping, you can rely on this lead magnet. If you have a physical storefront, you can provide a map for your location. You can also give them a list of your products that they can buy. If you have a blog, you can ask them to subscribe to newsletters.  
   
3. Free Consultation: You can offer a free consultation if you are a freelance online store. You can use this to exchange business cards with your clients. You can also ask them to provide their contact details in exchange for the consultation and use this information to reach out to them in the future.

Conclusion

The lead magnet is a crucial part of your marketing campaign to attract new customers. If you use the advice in this article, it will be easier to find the best lead magnet for your eCommerce store. It will help you gain the attention of new customers, and they will become your loyal customers in the future.

You should reach out to Happy Agencies to help you with your lead magnet. As a white label agency, we are knowledgeable and experienced in all types of lead magnets. Contact us now for more information!