How to choose the right lead magnet for your biz: 5 tips to help you nail your topic & approach
Ah, freebies! They’re so small and so free and yet they can cause such big headaches and so many expensive problems in your business—if you don’t pick the right one to support your business goals.
When you’re running a service business, you can rely on word of mouth marketing, referrals, and networking to bring you a fairly steady stream of new customers.
But when you get to the point of wanting to fill a group program, launch a signature course, or start making significant sales via an evergreen email sales funnel…
AKA when you’re ready to REALLY scale…
...so that you can stop spending so many hours in front of your screen and start living the life you built your business to create...
You need to get serious about building your list.
I’ve got lots to say on that topic too, but today I’m up on my soapbox to help you figure out how to choose the right lead magnet for your business (incl. examples of when to use which type of freebie).
But first!
Some rapid-fire thoughts that might be coming up for you:
I have 1 billion ideas for what my lead magnet should be, how do I choose The One? →
Luckily, you’re not stuck with your first freebie until the end of time. Go with your gut and accept that there will be a certain amount of testing.
Everyone’s offering something for free. How can I make my freebie stand out?→
Listen to your people, serve your specific niche, and be yourself from the very start.
Are people even into PDFs anymore? →
NO. People were never into PDFs. But they’ll always be into RESULTS. Create a lead magnet that helps your audience achieve a specific, valuable win and that introduces them to your way of getting things done.
How do you choose the right topic for your lead magnet?
Make it easy for you, effective for them.
In this post, Mary Jaksh shares The 10/5 Principle of Creating a Lead Magnet:
“A lead magnet should take less than 10 minutes to consume and no more than 5 hours to create.”
I’m not a fan of hard and fast rules like these, but I do agree that reading through your lead magnet should be a quick, easy process for your new subscriber, and creating it should feel easy for you because the topic is squarely within your Zone of Genius.
How do you know your topic is “effective” for your target audience?
You should be able to make them a promise: What will your lead magnet help them achieve?
You may already have a value proposition for your brand or your paid offers—create one for your lead magnet too and you’ll help your people understand WHY they want the thing you’re giving away.
E.g. 5 simple steps to a better LinkedIn profile: Implement these 5 quick tips and attract more recruiters looking for candidates just like you.
Eg. “Checklist for an Irresistible Lead Magnet: Create a conversion-optimized freebie grow a profitable email list”
2. Make it something you know will help your people out:
How do you know?
They’ve asked for it, your blog post on the same topic is popular, you see the question frequently in FB groups or social comments, or it’s something your clients frequently need to work through before they’re ready to work with you (as was the case with my Checklist for an Irresistible Lead Magnet).
If you create your lead magnet to answer a question you’re sick of – boom – suddenly, you’re demonstrating your expertise, getting members of your audience to sign up for your list AND preparing people to work with you down the line.
3. Use the chocolate-covered broccoli technique:
That is, give them something they want, include everything they need.
If you know your audience really needs to learn about an unsexy topic like money tracking, for example, you’re not going to create a freebie called, “The Ultimate Guide to Money Tracking” (cuz, sorry, no one wants that).
Instead, you’re going to locate the desirable outcome your people are looking for and frame the lesson about money tracking as the way to get your reader there.
So your money tracking freebie becomes: “My Secret Technique to Saving Hundreds of Dollars Each Month” and suddenly your landing page begins to convert like crazy.
4. Focus on the benefits of using your lead magnet, not on what it is.
This is true within your lead magnet - you should have a section that explains exactly WHY your new subscriber should care about your topic, but it’s also especially important when it comes to your landing page’s CTA:
Instead of using the CTA “Download my ebook” focus on the value to them, e.g. “I want a profitable email list today”
5. When it comes to the format of your lead magnet, try to meet your ideal client where she is:
If your potential subscriber…
…doesn’t know what she doesn’t know?
Give her a goal-oriented ebook/PDF of secrets, tips or questions to ask, or offer a roadmap to guide her on her journey.
…isn’t sure what she needs?
A quiz can help her find her way. N.B. Quizzes are great for long-game list building and helping you segment, but they do require a deep knowledge of your audience and a higher level of sophistication when it comes to the all-important email follow up.
…wants to learn more about a topic?
If your goal is to sell your online course, there’s nothing better than a video masterclass to give people a preview of what it’s like to learn from you. Got a lot to say and time to warm your readers up? Then an ebook can also work here.
…needs support in one specific area? (Coaching)
Journaling prompts, area-specific lists, resources, workbooks, and ebooks are all great ways of encouraging reflection—as long as you can make a promise of a tangible outcome your new subscriber can look forward to.
…not sure if she should DIY or hire a pro? (Service providers)
Freebies that share more about your process, your packages or what she needs to know to hire a pro can prompt a browser to take action and book a consult call today.
If sending your weekly email feels more like a chore than a money-making privilege, check out this comprehensive email marketing strategy & planning workshop:
Inside Activate your Email List, you’ll learn:
How to create months' worth of content ideas in one sitting (not just for your emails, but social media & blog posts too)
Which messages to send & when (whether you're prepping for a live launch or booking clients all the time) <— THIS is the piece that 99% of list-building courses leave out!
Expert tips, copy tricks & subject line best practices that will help you write the kind of emails that move your people to ACT.
“Katie’s workshop was just what I needed to give me a framework to bring my subscribers closer to me and get better at CTAs and sales.”
- Jilliane Yawney, www.jillianeyawney.com
Finally, when it comes to the question of what should you name your lead magnet, here are a few final tips:
Use your audience’s exact words—always.
Emphasize the benefits and the benefits of the benefits
Search for headline writing formulas and use those to name your freebie.
I like to make it something concrete, e.g. Roadmap, Checklist, Framework.
Brand the name for extra oomph.
I hope these tips will help you choose the right topic for your lead magnet, but also remember this:
You might not get it right the first time.
You might have to test a couple of ideas, tweak the title, or pivot.
The most important thing is just to start.
Questions? Feel free to leave them as a comment here, or get in touch with me directly at katie@katiepeacockcopy.com.
P.S.
Once you have chosen your topic, make sure you’re making the most of it by running through your copy of my free Checklist for an Irresistible Lead Magnet: