While it may go by different names in the online space the goal of any lead magnet (opt-in, freebie or freemium) is the same.

To provide free value to begin a relationship with your ideal audience.

This ideal audience consists of people that are looking for the specific solution you provide. And you’re identifying them with the lead magnet you’ve created.

Even further than this, a great lead magnet also showcases your personality, the business’ mission and delivery style – with all three allowing this ideal audience to see if you’re the right person for their needs.

What happens after the lead magnet is consumed is different for every business, audience and offer.

However, the lead magnet itself is what opens the door to whatever that is for you.

That’s why it’s incredibly important for this piece of your business to get the attention it needs.

Because if it’s not working, you’re unable to build your list.

And without a list, you don’t have a sustainable business that can scale, no matter what the social landscape looks like in the moment. (There’s no sugar coating because it’s just facts.)

So, what happens when you’re someone who already knows the importance of a strong lead magnet for growing your list but it’s not working?

By not working, I’m referring to the two most common frustrations:

  1. Whenever you share it, you’re getting little, if any, people taking action on it by signing up.

  2. People are signing up but they’re not buying the offer that follows the lead magnet.

 

In Connect + Convert, we go through how to go through the entire process of creating a list that both nurtures and sells on autopilot in your business.


However, this week we’re going to address one piece of the puzzle… the lead magnet.

More specifically, the four most common lead magnet mistakes that stall your list growth.


1. Is Your Lead Magnet Specific the Rule of One?

This mistake can come with the most resistance. Typically, due to fears around niching down.

When this happens, you tend to find yourself throwing out a net so wide that no one is quite sure if you’re talking to them.

Since they aren’t sure, they scroll by until they find something that has the “YESSS! That’s me!” siren go off in their mind.

This goes for not just your audience itself but also the problem your lead magnet is solving.

The rule of one means that your lead magnet only serves one audience and one problem at a time.

Already niched on your audience?

This is where you check to see if your lead magnet is only solving one of their problems.

By trying to solve too much in one lead magnet, you overwhelm your audience. This overwhelm leads them to either saying “oh, I can’t do all this!” or “oh, this is a lot, I’ll need to come back later.”

Both of these responses tend to get the lead management you just put your heart into, in the desktop folder abyss.

For example, if you snag my Predictable Profits Roadmap, you’ll see that I’m solving the problem of dealing with inconsistent income each month in your business.

That’s it.

This means that someone can go through this lead magnet within ten minutes and learn exactly where they need to focus in their business in order to create predictable income streams.

Questions to ask yourself when reviewing your lead magnet in this area:

  • Is my lead magnet providing a solution that can create at least ONE win for my ideal audience, today? If so, what’s that win?
  • How many problems does my lead magnet solve for my audience? Am I trying to cover too much?
  • Does the title of my lead magnet clearly say who it’s for and the one problem it solves?
  • What feedback have I received from this lead magnet already? Are people finishing it, getting stuck or saving it for later?

 

2: Does Your Lead Magnet Gives Them What They Need Instead of What They Want?


This mistake is the most well-intentioned one made when it comes to lead magnets.

With you being an expert in your industry, you know what it takes for your audience to get a true transformation. And it’s usually not sexy.

The reality? People sign up for the sexy.

It’s simply human nature.

Let’s bring back the Predictable Profits Roadmap lead magnet. It’s what you’re looking for because you’re over your income on a roller coaster each month.

What you need is within it so that you know exactly what the steps are in order to create this for your business.

However, if I framed it as… say…. “Get Focused on The Right Areas and Activities in Your Business and Ignore the Rest,” you would most likely pass it by because you’ve already convinced yourself that focus is a mythical unicorn.

Instead, I bring you in for what you want (predictable profits) and then give you what you need to achieve it (by helping you “Coso-quiz style” pinpoint the bottleneck in your business right now and where to focus 80% of your efforts in order to have your business working for you – fast!)

If you are in the self-help, mindset or weight loss spaces, you’ll want to be extra aware of this as #2 tends to be found in clients who have businesses in these industries the most.

 

Questions to ask yourself when reviewing your lead magnet in this area:

  • What is the result my audience wants, as a result of my work in this area?
  • Am I addressing that result in the promotional copy and/or title of my lead magnet?
  • What do they actually need in order to get the result they desire? What are the actions and/or beliefs they need to embrace to simplify the process?
  • Is that within the content of the lead magnet itself?

 

3: Did You Create Your Lead Magnet Without the End in Mind?

When someone joins your list, they become a part of the journey with you. That journey allows them to get to know you better along with your expertise and your offers.

As I mentioned earlier, what happens after your lead magnet is different for every business.

However, if yours is leading to a paid offer, this is for you.

When you are leading someone to a paid offer, you want to make sure your lead magnet is in alignment with that offer.

Most often, I see this happen when someone has a lead magnet that’s doing well on the front end (as far as getting sign ups) but they aren’t converting on the back-end (through their funnel).

One of the questions I always ask, in this instance, is what problem the lead magnet solves – and if that problem is the first problem for those coming into the paid offer.

If it’s not, those who come in for your lead magnet won’t be the right fit for the paid offer they’re being exposed to.

An example of this would be the fact that the Predictable Profits Roadmap will bring you to the Achievers Circle wait-list. Why? Because that’s exactly what we’re helping business owners to do in there, with the creation of digital products.

If I ran that same lead magnet to Connect + Convert, it wouldn’t work as that’s a list building program and not everyone coming in for the Predictable Profits Road-map are looking for that. It would cause a disconnect.

This is why we work with the end in mind and create lead magnets from that place so that everything makes sense for your audience.

Questions to ask yourself when reviewing your lead magnet in this area:

  • What offer are you leading your audience to with this lead magnet? Is it congruent with your lead magnet topic?
  • How does your lead magnet help prep your audience for your paid offer?
  • Are you using the promotional copy for your lead magnet to pre-qualify those who would be a good fit for your paid offer?


4: How Often Are You Promoting Your Lead Magnet?

I feel like this one should be a given but I also know that this is an issue that I see enough to make it a point here.

If you make it, they will come only works in the movies.

With any lead magnet you create in your business, you’ll want to map out how you will be promoting it so that the work you put into it gets out there to those who need it.

This could be paid, organic or a mix of the two.

Your budget will determine which option you go with.

However, please don’t fall into the myth that you “need paid traffic” in order for your lead magnet to get out there. It’s simply not true.

Need proof?

I have mentioned the Predictable Profits Roadmap three (ok, now four times) in this one blog post. This blog will be shared on social and through my list, all organic, and some of you will snag yourself a copy of it because you’re looking to move your business in this direction.

(By the way, if you do grab it, you’ll get an email from me asking what stage of the road map you’re in and I’d love to hear from you — it’s one of my favorite emails to read responses from!!)

Me sharing this is in addition to paid traffic.

However, for other businesses we’ve built, we’ve only built with organic.

Both are possible.

What’s not possible is seeing a sizable return from your list if it’s not growing.

Questions to ask yourself when reviewing your lead magnet in this area:

  • Do you have a schedule for how often you are sharing your lead magnet on social?
  • Where have you been seeing the most response (as far as sign ups) to your lead magnet, that you can double down your efforts on?

Did One Of These Common Lead Magnet Mistakes Speak to You?

If so, feel free to post below in the comments!

There’s a reason they’re common and I have no doubt that with some tweaks, you can get your lead magnet to where you want it to be as well.

Impacting the lives of more people who are waiting for you.