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Why Nobody Wants Your Lead Magnet (and how to fix it)

online business Jul 06, 2023

Having a lead magnet is an essential tool for growing your email list and attracting potential customers to your online business. However, it can be frustrating when your lead magnet fails to generate the desired response. In this article, we will discuss a common mistake that could be sabotaging the success of your lead magnet and offer solutions to overcome it.

Setting the Stage
Recently, I had a conversation with a coaching client who was struggling with her lead magnet. Despite having a significant Instagram following of nearly 25,000 people, she found that very few individuals were opting in for her lead magnet. This situation led us to uncover a critical mistake she was making, one that you might be making as well. It was a mistake that didn't make her bad at business but required a course correction to make a significant difference.

The Mistake: Lack of Alignment
The mistake my client made was that her lead magnet did not align with her existing audience and niche on Instagram. While she had built a successful Instagram account centered around a particular niche, she decided to start a business in a different niche. Her assumption was that her large Instagram audience would naturally follow her and be interested in her new venture. However, this assumption turned out to be flawed.

Drawing from Personal Experience
To help my client understand the gravity of the mistake, I shared a personal story. When I started my online business, Preaching Donkey, which provides coaching to preachers on communication skills, I thought there would be significant crossover between that audience and my personal brand, Lane Sebring. I believed that many preachers would also be interested in writing books, building online businesses, and having side hustles. However, when I presented the opportunity to my existing audience, there was minimal interest. I made the same mistake as my client—assuming that my audience would follow me regardless of the new niche.

The Solution: Aligning Your Lead Magnet and Niche
To rectify this mistake, I advised my client to focus on her Instagram account's niche and offer products that align with that audience's interests. The trust she had built with her 24,000 Instagram followers could be leveraged to provide them with valuable products, such as books in her case. Simultaneously, she needed to create a separate audience and content strategy for her new niche. This approach would ensure that the audiences who were genuinely interested in her lead magnet would be gathered separately, rather than trying to force an incompatible connection.

The Lesson: No Assumptions, Double Down on Your Audience
The crucial lesson we both learned is that you cannot assume there will be automatic crossover between audiences when you start something new. Instead, double down on the audience you have already built and tailor your offerings to their specific needs and interests. If you are no longer interested in your initial niche, you have the option to move on completely or continue serving that audience while simultaneously building something new. The key is to ensure that your ventures align with their respective niches.

Crafting Effective Lead Magnets
When it comes to lead magnets, remember that they should fulfill two key aspects: a compelling promise and a quick win. The compelling promise involves presenting your lead magnet in a way that excites and attracts your audience. The title should captivate their attention and make them think, "I must have this!" Additionally, your lead magnet should deliver a quick win. It should provide actionable and valuable content that can be implemented within days or weeks, creating immediate results for your audience.

Avoid the mistake of assuming automatic crossover between your different niches or audiences. Focus on aligning your lead magnet with your existing audience, building trust, and offering products that cater to their specific interests. If you venture into a new niche, create a separate audience and content strategy to avoid diluting your efforts. Craft compelling lead magnets that promise valuable outcomes and deliver quick wins. By implementing these strategies, you can enhance the effectiveness of your lead magnets and grow your online business successfully.

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