Lead magnet to enhance the digital sales funnel. Examples and ideas for online stores
The experience described in the article is suitable for those who have already implemented e-commerce: physical goods are sold in online stores, on Amazon, Wildberries, Ozon or your own online store. For the correct perception of information, you will need to understand the levels of the sales funnel within the business model (the sequence of stages that a potential client goes through from getting to know the product to completing the purchase process).
The sales funnel is a more or less understandable business mechanic, you have to attract traffic to the site, where the visitor is recommended to perform a targeted action, for example, put a product in a basket and leave contact information. The site manager then processes completed orders and controls payments. Visitors who have passed the stages of the sales funnel become customers. Under such conditions, opportunities for growth and expansion of the sales funnel have also been studied for a long time – this is the purchase of more traffic, the expansion of the sales force or the increase in conversion on the site.
Related material: How a B2C sales funnel works on the example of one grill. Buyer Journey Map
A lead magnet will allow you to make your sales funnel more productive, attract more potential customers and start interacting with them before an order is placed on the site.
How a lead magnet works in a sales funnel
With the help of a lead magnet, the client gets to know the brand faster and easier, receiving a nice gift from this. The decision to receive such a gift should be made easily, for this it is necessary to simplify the procedure for receiving and minimize additional conditions. Moreover, the acquisition procedure must be made attractive. What can act as a lead magnet in jewelry e-commerce and how to make it attractive to the buyer will be discussed further in this article.
Examples of lead magnets in a digital sales funnel
In e-commerce, you can get away with the easy mechanics of “free bonuses” such as checklists, video recordings, books, cases, cheat sheets, and so on. This can already be of value to the site visitor if the material is presented correctly. The target site visitor is almost always ready to exchange contact details for information.
But there are business areas in which the situation with lead magnets is much more complicated. Why is a potential buyer willing to share contact details, and not make a purchase? Such complex areas include luxury goods with impulsive purchase decisions. A visitor to a jewelry site is primarily looking for a product – jewelry, and does not think about other aspects of the transaction. It is necessary to “impose”, make it clear to the buyer that there are additional attributes of communications (consultation, additional photos, videos, delivery). In addition, it often becomes difficult to make a purchase decision, it scares the remote way of the transaction, this can also serve as a topic for the “first touch” with the site visitor. Guided by the fact that it is much easier to ask a question or request than to buy a piece of jewelry, and the use of a lead magnet is built.
Let’s consider “conditionally” free solutions (“conditionally” – because the cost of producing a lead magnet is relatively small before the sales that buyers who take advantage of the offer will bring):
- Online fitting or providing “live” photos, videos of jewelry. The consultant is ready to find or pick up jewelry, show it in a “live” form, provide a photo with a ruler for an accurate understanding of the size. Call: Sign up for an online fitting; We are ready to send photos and videos of the jewelry you like – tell us your phone number.
- Catalogue (special novelties that are not yet on the site, with photos, descriptions and prices). A person who has been on the site for a long time is looking for something, wants to see as many offers as possible. Based on this behavior of the buyer, a hypothesis is built about offering him a special catalog of new products. Just like in the previous lead magnet, we change the catalog to a phone number and send it either in messengers, or after a call, we agree on a suitable communication channel with the buyer.
- Consultation from an expert jewelry stylist. This lead magnet is suitable for online stores with a check in the medium and medium+ segment, in fact, this is an online fitting option, but in an expensive format and with a professional expert stylist who understands jewelry trends.
- Participate in a themed webinar. “TOP 10 new products of the season up to 3,000₽” (2,500₽ FREE). Registration is being made for participation in a special closed seasonal webinar. The format of such participation is paid, but the online store bears the cost of your participation in the webinar.
- A gift. The theme of a specific, tangible gift works better as a lead magnet, but for a company such a gift can no longer be classified as “conditionally” free, additional costs appear: the cost of the gift itself, delivery costs, and more. But anyway, I leave such a lead magnet on this list, and if you can find a balance between the cost of a gift and the cost of the purchase, then this is probably the right solution.
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Three steps to boost your lead magnet
- Personalization works for any visitor to the site, it’s always nice to see that your location (city) is set exactly by the site, the page title matches the request, the delivery of goods is the one that was requested. If this is strengthened with additional personalized calls, then making a decision, especially an impulsive one, will be greatly simplified. For example:
- “You have viewed 2 pages of the catalog and we are ready to make a special offer”;
- “There is a special offer for residents of Tver only”;
- “You are interested in iPhone 14, learn about the special offer”;
- When hovering over to close a tab: “Leaving already? We are grateful that you have taken the time to visit our website and are giving you a special offer.”
- Time limit:
- “Use your lead magnet today”;
- “The offer is valid until the end of the month”;
- “Offer ends June 15, 2021.”
- Additional options for those who take advantage of the offer. Use the lead magnet today and get an additional list of valid promo codes for summer 2021, including:
- promo code for free shipping;
- promo code for -30% discount on silver jewelry;
- promo code for a 40% discount on diamond jewelry;
- Promo code for a closed sale of gold jewelry −50%.
Related material: How is FOMO used in marketing to promote a product?
Five ways to use a lead magnet
- Make your lead magnet the basis of communication with your target audience. It is easier for a potential buyer to start interacting with a brand based on a pleasant gift, and then gradually it is necessary to accompany them through the sales funnel. Stay close, answer questions and report great deals.
- Post information about getting a lead magnet in social media links.
- Make a popup (pop-up message) on the site or a special landing page on the site, detailing the value of the lead magnet and the possibility of obtaining it.
- Do not leave without further attention those who have used the lead magnet. Remember, this is only a way to get the contact details of a caring visitor, then the role of making a sale is assigned to the manager or how automated the sales funnel of the business is.
- Automate your business. If you can make the sending of the lead magnet automatic, then this should be done. If contact data can be immediately collected on sms and email mailing services, then this should be used. If it is possible to create trigger mailings for those who took advantage of the offer, this should be done.
Related material: Consumer behavior: how do men and women buy and how will this help online stores?
If you have any questions about the article or want to share your thoughts, then you can leave a comment below and the author of the article will answer you.
Author: Viktor Subbotin, Head of Marketing at karatov.com, aquamarine.gold and delta.market
