4 Tips to Build a Lead Magnet When You Have No Idea What to Do

This week’s episode is all about four tips to build a lead magnet when you have no idea what to do. So we all hear, you know… the expression, the money’s in the list and build your email list. And, you know you don’t own the social media platforms, but you own your email list. But sometimes putting it into practice and actually doing that is one of the hardest things.

And on top of that, one of the other hardest things is actually building out your email list, figuring out that lead magnet, figuring out what to do. And it makes it so darn hard sometimes because sometimes we get so in our head and so wrapped up in trying to fix too big of a problem, that it ends up ruining the lead magnet. It ends up making things harder. It ends up not really resonating with our audience.

So these are my four tips to help you make a lead magnet when you’ve got no idea what to do, you can’t figure out what to make, you’re struggling, you’re torn, or you feel like nothing will work.

And the last thing I want is for you to feel like you’ll never make a good lead magnet. That feeling is the worst. Which is why I had to make my Lead Magnet Creation Guide. It will walk you through where to put it, my best tips for making it, what to cover, and we’ll even go over format options too. Grab your free copy of the Lead Magnet Creation guide below.

*Note: Links with an * are affiliate links. This means I make a small commission at no extra cost to you. I only recommend products I love and use in my own business.

Now that you’ve grabbed your copy of that, let’s dive into these 4 tips to build a lead magnet when you have no idea what to do. I don’t know about you, but I’m super excited for these. 

No. 1 - What Are Other's Doing?

So tip number one, check out what others in your niche are doing. And I’m not saying by any means to go copy them, but sometimes seeing what others in your niche. Or a niche adjacent… something that compliments your business, but that isn’t exactly what you do. Can help spark an idea of what you can make… to make it something simple, to solve that one little problem with your lead magnet, your freebie, whatever your preferred term is.

So by all means, do not copy the competition. That is not what that is intended to do. It’s intended to kind of help get your wheels turning. Maybe you’re like, okay, I kind of see where you’re going, but I’d do it this way. You know, put your own unique spin on it, make it yours, whatever it is you do… make it yours.

No. 2 - Put Yourself In Their Shoes

So tip number two is to put yourself in their shoes. And I’ve heard this expression before, the expression that… oftentimes our ideal audience is us from years prior, from previous, from when we didn’t know everything we know now. Knowing that oftentimes you are your ideal reader, think about where you were, way back whenever you started.

So maybe you are a health coach or maybe you’re a lifestyle coach.

Think back to where you were and what got you into what you're doing now.

What you started to learn and do, and what was the first problem they faced. And that’s where you bring it in. So think about your customer journey overall… from when they first meet you to whenever they no longer need you. 

Because at some point they may not need you depending on your niche. They may… that’s up for determination based on your niche. But there are… there’s different stages of, you know… if you’re a business to business or a business to consumer.  Sometimes… and especially with business to business, there are different stages of business that people will focus on.

So maybe it’s like startup businesses, just, you know, just new getting started. And sometimes it’s those with like a team who are making, you know, six, seven figures, that kind of difference. Think about where you sit in the business journey and what you help them with. And what’s the first thing that they need to understand before they can start working on the next. So putting yourself in their shoes. Try to remember where you were and what would’ve helped you when you really first started can give you some ideas.

No. 3 - Market Research

My third thing, I’m not gonna tell you here to go emailing your list and find out what you know, what, what they wanna learn. Because chances are, if you’re struggling to figure out what to make for a lead magnet, you very likely have little to no list.

So in that regard, do some market research. This can look like a couple things. So one of the ways I started this is going to Facebook groups. And… I cannot recommend enough as you do this market research that you do face to face zoom interviews, 10 to 15 minutes long.

You could offer to give them a 15 minute strategy session on something… or you could tell them that they’ll be entered into a giveaway for an hour strategy session for one person who does it,  like you’re giving away one strategy session.

Sometimes just really explaining very nicely where you're at, why you're doing this market research, and how helpful it can be to you can get some people on that train.

I would say 5 to 10, if you’re really… really against doing an in person thing, I would recommend… at minimum, do a Google form or some other kind of form like that. And put in your questions, try to make as many open ended as possible, and then share it in a couple Facebook groups.

Now, if you’re not sure if it’s allowed, just pop in and… and send a message to one of the admins or whoever’s in charge and ask. But most of the time, if it’s just simple market research, they don’t have a big problem. So that’s something that, you know… some Facebook groups where your ideal client… people who you think you can help kind of hang out. And you get really clear on, you know… who you’re looking for, who you wanna hear back from, who you wanna interview can really help. Then figuring out what they’re struggling with and what their biggest pain points are. That can help you get some ideas for some lead magnets.

No. 4 - Split Test

Tip number four. So if you’ve got… if you’re torn between two ideas, you’re like, I don’t know what to do. I’m torn. I can’t decide. Maybe you split test.

So split testing could look like a couple of different things. It could look like you run ads to both and see which performs better after so many dollars or so many days of running the ads. Split testing could look like building a landing page with both of them on there and sharing that everywhere to see who opts into which one more. Or if they grab both, and see which one comes out ahead.

Those 4 Tips to Build a Lead Magnet When You Have No Idea What To DO

And that is my 4 tips to build a lead magnet when you’ve got no idea what to do. So number one, check out what others are… in your niche. Or an adjacent niche… are making, what they’re offering, what they’ve got, but don’t copy them. Number two, put yourself in the shoes of your ideal client. And remember that oftentimes you are your ideal client, like your previous self is so think about where you were.

Number three, do some market research. Interviews are best because you get that back and forth one on one conversation style where you can dig deeper on things, but at the very least doing a form with some questions can still give you some insight. 

Related Reading: Email List Tool Comparison

Number four, if you’re torn between two ideas or you can’t decide, do some split testing, there are different ways you can do it. You could… if you have an existing email list and you’re wanting to make a new one to run ads to. For example, you could… you could offer both to your list and see which one gets downloaded more. You could put the link out in some freebie posts on Facebook groups. You could build a page where it shares both and split test it that way and see what gets more. Or you could run ads to it. The possibilities of split testing are pretty endless. It’s just a matter of your technology and what you’re wanting to do with it. So those are my 4 tips for building a lead magnet when you have no idea what to do. When you have no idea what to do.

And don’t forget to grab your free copy of the Lead Magnet Creation Guide. In it we cover your topic, where to put it, what format to make, and my best tips for creating it.