Lead magnets work—this is why marketers, like myself, use them. However, it’s important that you learn how to use your lead magnets wisely—especially when you consider that subscribers who know what they’re signing up for have opt-in rates nearly 85% higher than those who don’t.

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I think the most common mistake marketers make in using lead magnets is using cookie-cutter templates with no consideration for what their audience really wants or needs. So, in the context of luxury products and brands, what would be a good lead magnet idea?

Here are some ideas:

1. Coupons

Luxury brands, products, and services come with hefty price tags. Sure, you can assume that whoever is purchasing has enough spending power that they won’t care about saving a buck or two, but generally, a customer will come back for a good bargain.

A coupon means you’re assigning a specific value to your lead magnet that could make it more compelling for your customers to complete their purchases or sign up for your mailing list, where you then have an opportunity to nurture them.

2. Free Shipping

This is especially compelling if you’re a luxury e-commerce brand.

According to numerous studies, shipping costs are a big factor in shopping decisions. In fact, 36% of online shoppers abandon their carts because of how much shipping adds to their total. To that end, giving out an email address is a small price to pay in exchange for free shipping, especially considering how much shoppers are already paying to make a purchase on your site.

If you’re unsure about offering free shipping, try offering it after shoppers reach a certain level of spending. This could encourage them to make additional purchases on your site and is a good way to prevent customers from abusing your lead magnet. For instance, you don’t want to end up spending $40 on expedited shipping for a $15 item.

3. First Dibs

Another great lead magnet to get customers to sign up is the promise of exclusive access. Giving customers the option to get first dibs on new arrivals or exclusive content is a great draw for shoppers who want early access to goods or services.

4. Free Gifts

The promise of a completely free, no-strings-attached gift is a great way to get your shoppers to hand over their contact details. Consider the fact that customers will likely associate the luxury brand’s qualities and workmanship with the gift. Why wouldn’t they be willing to hand over their email address in exchange for a small token of appreciation from the brand?

The right lead magnet can give your conversion rates a much-needed boost. Just make sure that you align your offer with your brand and be sure to learn everything you can about your customers. If you want to know more, I’d be more than happy to continue this conversation. Reach out to me via Leadspanda and I’ll get back to you as soon as I can.