One of the most effective marketing methods is email marketing! According to litmus.com, many businesses may expect a staggering $36 ROI (Return on Investment) for every $1 spent.
That’s crazy, right?
Unfortunately, not every e-commerce company receives these figures. This is primarily due to a lack of understanding of how email marketing works and a lack of an effective lead magnet.
But what really is a lead magnet, and how can you make one that converts well for your store on Shopify, Shoplazza, or even Amazon? Keep an eye on this space to find out.
What Do Most Businesses Do Wrong with Email Marketing?
So, what are the most common mistakes made by businesses? They request emails from their visitors in order to send additional emails without providing anything in return. Consider that for a moment. Would you accept more emails in your inbox if you knew you wouldn't get any benefits?
If you’re not a super fan of the company, then probably not! And that’s the exact reason why lead magnets are so important. These are the rewards that make it easier for your potential customer to justify giving you their email.
But that’s just scratching the surface. One of the best things a lead magnet can do is build trust. That is very important if you want to convert subscribers to buyers.
4 Types of Killer Lead Magnets
Now that you understand why they are so important, let’s go over the four killer types of lead magnets you could create.
#1 - E-books, Cheatsheets, and free courses
One of the best ways to promote yourself as an expert is by giving away some free information about your products or niche. For example, let’s say you sell men’s watches in your online store.
Then the best way to entice your potential buyers is to give them a free outfit cheat sheet, where they can find ways to match your watch with a complimentary outfit. That’s great for two reasons:
- First, you’re being helpful! For example, they can wear these outfits for a first date.
- And secondly, you’re making them desire your products. They’ll see how the watches make them look better with the free resource.
#2 - Quizzes
Another fantastic way to entice visitors to become email subscribers is to give them a free quiz. Staying with the men’s watch store, you could, for example, help them pick the correct watch for their style.
You could ask them some questions, and after they’ve answered them, you could give your email subscriber a recommendation on which watch to buy.
An excellent example of this is from Brevitě. There you can go through a quiz that helps you pick the perfect bag before you purchase it.
#3 - Coupon Code
The easiest way to convince visitors to give their email to you is by giving them the good old coupon code. However, there’s a problem with it. If you’re going to offer that, remember that these people should already desire your products.
That means only warm traffic will give you their emails.
#4 - Run Contests
Another way to get more email subscribers is to run some contests. That can be an easy way to get many email subscribers quickly. Just think about it. Who would say no to free items? You could also boost your reach by giving people extra chances when they share your campaign with their friends.
However, there’s one problem. Many people might unsubscribe from your service when the contest is over. That means you’ll have to make sure you entice them enough to stay as a subscriber, either by giving them some free content or coupon codes.
Step-by-Step Guide to Creating Your High-Converting Lead Magnet
So how do you make your very own lead magnet? That depends on what type of lead magnet you’ll be making. For example, if you’re going to make a coupon code, then it’s as easy as logging into your dashboard and creating the code there!
But what if you want to do something more complex, like an e-book or a quiz? Then you’re going to have to follow the following two steps:
Step #1 - Choose Your Topic
When creating your lead magnet, you need to make sure of two things. Your freebie is relevant and valuable to your audience. So how do you make sure that you’ve picked the correct topic?
Well, there are many ways. For example, you could go to different forums and Reddit to see your audience’s questions. For our watch store example, it’s beneficial to look at the r/wristwatch subreddit or various watch forums.
You could also make it easier by checking out AnswerThePublic.com. There, you can enter your keyword and see what kinds of questions your target audience is looking for.
Step #2 - Create Your Content
Now it’s time to create your content! So go ahead and make your content, but make sure to follow these two tips.
- Create the best content: If you want to grow your audience and keep them engaged, you want them to say things like, "OMG, this free resource helped a lot!" rather than, "This was a waste of time."So make sure that you give as much value as possible.
- Don’t give them the solution: While you want to be as valuable as possible, it’s better not to provide them with the complete solution to your problem. Instead, you want to convince them that your product will be the solution to their problem.
Step #3 - Finish and Make It Look Attractive
All that is left is to finish your lead magnet and make it look as good as possible.
For example, if you're creating an e-book, rather than sending them a word document, you might use Canva to produce a beautiful e-book. To acquire the e-book template, simply choose a US Document in Canva.
However, for quizzes, I recommend Outgrow. Thanks to their templates, you can simply create a beautiful and professional quiz.
This is how you make a high-converting lead magnet. We hope you found this information useful, and that you will quickly gain additional email subscribers.
(Contributed by Andreas Ojala; Co-author: Clair Feng)