An Offer They Can’t Refuse: Cost-Effective Incentives To Offer LMS Prospects To Increase Your Conversion Rates

Increase Lead Conversion Rates For Your LMS With These Proven Ways

One of the first questions we have in any interaction is…”what’s in it for me?” Depending on the situation, we might voice this question aloud or try to figure it out on our own. We may pose leading questions to unearth and find the hidden benefits. In the instance of LMS, the software itself is helpful to clients. But there are hundreds of similar products to choose from. How can you entice buyers to choose your LMS without wiping out your margins? Worry not, because in this article I share my best tips on how to increase lead conversion rates for your LMS!

Here are 5 cost-effective incentives that LMS prospects simply cannot refuse.

5 Tips To Increase Your Lead Conversion Rates

To achieve your marketing goals, you first have to drive prospects to your content and then nurture them until they become clients. Thankfully, there are several ways to improve conversions. For example, you can increase lead conversions in the consideration stage. So, your goal is not just to get traffic to your website but also to get their email address. Once users become familiar with your SaaS business, engage them. Along the way, you have to encourage them to make small commitments. All you have to do is help prospects solve their problems in exchange for their email address. This will help them through the buyer’s journey as they get ready to purchase.

Let’s see how content marketing, offering lead magnets, and using enticing CTAs can boost your conversion rates.

1. Free Upgrades Or Add-Ons

Buy-one-get-one is a popular technique, but it’s a tricky one to execute. After all, you’re essentially selling your product at half price. There are situations that warrant this, like if your regular profit margin exceeds 70%. In which case, you won’t feel the pinch too hard. But these instances are mostly tied to items that are no longer timely (e.g., old books or video games). The software operates in a different sphere. While you can’t profitably give away LMS, you can co-opt free elements. Maybe you can give them a discount on related products or include bonus features. This works best if it’s based on purchase timing. For instance, if they order before a given date, they could get free add-ons or upgrades. LMSs are often designed for a set number of users, so you could offer them additional memberships. This one is a proven technique to increase LMS lead conversion rates. Give it a try; prospects always feel special when they have something to win.

2. Exclusive Access To Your LMS Training Library

Grant LMS customers exclusive access to your resource-packed training library that features everything from tutorials to demo videos. In addition to LMS training resources, you can also add content that covers overall training topics. Such as how to boost employee engagement with interactive elements or how to incorporate storytelling into their online course design. Of course, all these things tie into your product and showcase how your platform can help them achieve their objectives. If you haven’t noticed, many LMS tools are finally including a training library with a variety of courses. Offering access to free training content is certainly a way to get prospects’ attention and help boost your LMS lead conversion rates. In case you want to see what kind of topics LMS prospects would like to read about, make sure to download the eLI Audience Survey Report 2022. It’ll help you leverage eLearning buyer insights to fuel your marketing strategies.

3. Targeted Guides

Prospects are looking for the best value for money. This means investing in an LMS that’s user-friendly to reduce the learning curve and achieve their objectives. So, offer your LMS prospects targeted eBooks and guides that help them maximize functionality. For example, give them advice on how to avoid the most common LMS implementation mistakes, or tips on how to improve their compliance online training program with the help of your robust reporting features. When it comes to increasing LMS lead conversion rates, explaining what your LMS can do and how they can leverage it to solve their pain points is key.

4. Personalized Attention

When you buy training software, it’s generally plug-and-play. You might have a video demo tour, but for the most part, you just log in and you’re ready to learn. LMS is a bit more technical. You may need to program it yourself. And while you can use it to develop your own courses, you do require guidance at the start. This could involve a crash course in usage or repetitive calls to customer care. You might even have to bring in specialized staff to manage the LMS. As a developer/supplier, you can cash in on this. Offer customers a special customer care line that isn’t available to the public. This sense of exclusivity makes them feel valuable. It also soothes their unease at asking questions and “looking stupid.” They know this line is just for them and that their ignorance won’t be exposed. If you have the capacity for it, give them a dedicated tech assistant so they’ll get the same person each time. You could even offer up one of your techies. You can send them on site for a limited time and they can stay a few hours/days, familiarizing your client with their new purchase.

5. Host Live VIP Events

Another way to entice LMS prospects and increase your conversation rates is by hosting exclusive events. Only paid customers are able to attend and reap the rewards your speaker has to offer. You could even invite some keynote presenters, like industry thought leaders. This gives them the chance to explore the features in greater detail and learn about new innovations and trends. Video conferencing is the best way to pull this off. However, you can also host a yearly get-together that features face-to-face workshops. Of course, to keep it cost-effective you may have to charge a ticket fee.

Need any ideas for your next lead magnet campaign?

Here are some amazingly effective lead generation strategies to engage your ideal audience.

Insider Τip: Maximize Υour Content Marketing Strategy

Email sales techniques and social media promotion are crucial tools in today’s market. They tell customers more about your brand and they boost your visibility in search engines. They also position you as an authority in your space. There are lots of ways to tweak your content strategy for maximized conversion. Craft your headlines and email subjects carefully. They determine whether your message will be clicked open or automatically spammed. End web articles and blog posts with a clear call to action and drizzle your site with user-friendly chatbots. If prospects can easily start a conversation with you, it broadens your opportunity to convert. You can also include coupons and discount vouchers inside your email marketing. Tell prospects, if they buy through the link provided in their email, they get a discount or bonus features. Use direct marketing to gently nudge purchases, and/or create an exciting teaser campaign. Remember, never send unsolicited emails. That’s spam.

Conclusion

An LMS is a time-saving, cash-cutting tool that can benefit almost any organization. But there are two levels of buy-in. First, the organization needs to recognize its need for an LMS. Then, the decision-makers have to pick a product. As LMS developers, how can you swing that decision in your direction? Bundle free or discounted services into your package. Offer tailored technical assistance via chat, phone, or in person. Craft effective content marketing that will turn readers into buyers, but never send it without explicit informed consent. And don’t forget to price your product right.

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